Mecum Auctions held its second annual Monterey sale on August 13-14, 2010 at the Hyatt Regency Monterey Hotel & Spa on the Del Monte Golf Course in California, resulting in total gross sales (excluding buyer’s premium) of $15.4 million. Combined with post-block sales that continue to occur in “The Bid Goes On” – Mecum’s program to market vehicles that don’t sell on the auction block – the company estimates final sales for the auction will be close to $20 million.

“While last year’s event was monumental because of our record-breaking $7.25 million sale of the 1965 Shelby Daytona Cobra Coupe, this year’s event was hugely successful in its own right. In fact, if you take the Shelby out of the equation, we more than doubled our sales over last year,” said President Dana Mecum. “As Monterey’s only free, open-to-the-public auction, we have truly carved our own market niche. With growing brand awareness, Mecum in its sophomore year has established itself as a primary destination on the peninsula and has built a very firm cornerstone upon which to have a long-term event in Monterey.”

Top sale at Mecum’s Monterey 2010 went to a rare ex-DeLorenzo 1967 Corvette L88 Roadster – one of only 20 produced and the earliest RPO-ordered L88 known to exist – that sold on the block for $1,250,000. Other notable auction results include the 1967 Ferrari 275 GTB/4 Berlinetta at $1,250,000, 1972 Ferrari 365 GTB/4 Daytona Spyder that brought $1,050,000, 1966 Shelby Cobra 427 Roadster for $650,000 and 1971 Chevrolet Corvette ZR2 Convertible that made $440,000.

Mecum offered more than 400 collector cars at the two-day auction. In addition to cars, Mecum entered into the vintage wooden boat arena in 2010, selling five world-class vessels at the Monterey Auction – four of which made it into the top 10 sales.

Mecum Monterey Auction 2010 – Top 10 Results: (all sales reflect hammer prices)

1. 1967 Chevrolet Corvette L88 Convertible (Lot S125) at $1,250,000
2. 1967 Ferrari 275 GTB/4 Berlinetta (Lot S111.1) at $1,250,000
3. 1972 Ferrari 365 GTB/4 Daytona Spyder (Lot S122) at $1,050,000
4. 1966 Shelby Cobra 427 Roadster (Lot S120) at $650,000
5. 1971 Chevrolet Corvette ZR2 Convertible (lot S118) at $440,000
6. 1965 Shelby GT350 Drag Unit (Lot S106) at $350,000
7. 1922 Hacker Gentlemans Race Boat (Lot S130) at $320,000
8. 1940 Chris-Craft Racing Runabout (Lot S127) at $291,500
9. 1965 Riva Aquarama (Lot S128) at $290,000
10. 1929 Hacker Craft Deluxe Runabout (Lot S129) at $225,000

Complete Monterey Auction 2010 results are available at www.Mecum.com.

Next up is the Mecum St. Charles Auction, Sept. 16-19, 2010, at Pheasant Run Resort, which feature 1,000 collector cars up for bid. Tickets are available at the door for $15. Consignment, bidder and event information is available www.Mecum.com or by calling 815.568.8888.

[Source: Mecum]