Mecum Auctions held their annual 2013 Spring Classic last month in Indianapolis. Over the course of the event, the Mecum team rolled 1,716 vehicles across the block. Of those, 1,156 were hammered sold for a 68% sell-through rate. We already told you about the black and blue 1967 convertible which sold for $610,000 to take top Corvette honors. Click past the jump to see the other top Corvettes from the 2013 Mecum Spring Classic.
Among Corvettes, 118 of the 219 cars offered (56.4%) found new homes. What’s more interesting is the fact that 29 Corvettes (13.2%) bid to over $100,000.
The top 11 list from Indy is heavily C2 biased as 9 of the top 11 cars were built between 1963 and 1967. Only a 1953 and 1991 Callaway Speedster represent other generations on the list. We also continue to see the trend of hot restomods as there 5 custom Corvettes in the Top 11. Overall, the average cost per car in the Top 11 sales was just over $210,000 while it took a minimum bid of $120,000 just to get into the top 11. Below are the top 11 sold Corvettes from the Mecum Spring Classic.
|Preview||Rank||Car Description||Sale Price|
Black/Blue 427/400 A/C Convertible
Roadster VIN #93
Black/Red 327/340 Coupe
Silver/Red Restomod Convertible
Silver/Red Restomod Coupe
Black 427/400 A/C Coupe
Blue Restomod Coupe
Silver/Blue Callaway Speedster
Red Restomod Convertible
White/Black 427/435 Coupe
Black Restomod Convertible
While studying the data we couldn’t help but notice the consistent lofty bids placed on high end Corvettes which weren’t good enough to meet the respective reserves. Notable no sales included the black 1968 L88 convertible at $625,000, a black 1967 427/435 convertible at $350,000, and a yellow 1962 restomod at $225,000. Also in the top 11 not sold Corvettes was a pair of Baldwin Motion cars as well as trio of C3 ZR-1’s. When compared to the sold cars, the average price of the top 11 non-sold Corvettes was nearly $250,000 or about $40k more than the average price of a top 11 sold Corvette. Here’s a look at the top 11 Corvettes still seeking new owners after Mecum Indy.
|Preview||Rank||Car Description||High Bid|
Black/Black L88 Convertible
Black/Black 427/435 Convertible
Red/Red ZR1 Coupe
Red/Red 427/435 Coupe
Red/Red 427/435 Convertible
Red/Black ZR1 Coupe
Baldwin Motion L88 Coupe
Blue/Blue 427/435 Convertible
Silver/Black 427/435 Coupe
Blue/Black ZR1 Coupe
So after a wild week in Indiana where bidders made it rain over almost 2,000 collector cars it appears that the market still has plenty of high end Corvette and other models available. Next up is Bloomington Gold’s all-Corvette auction and we’ll see if the market’s momentum continues there.
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