Mecum Hits $50 Million
Wall-to-wall vehicles, motorcycles, neon signs, gas pumps and more filled every building at the Indiana State Fairgrounds as Mecum Auctions offered a massive selection of collector cars and memorabilia at its 24th Annual Original Spring Classic Auction, May 17-22, 2011, in Indianapolis, Ind.
Mecum offered a total of 3,381 lots during the six-day event, boasting an 80% sell-through rate with total sales surpassing $50 million. That total encompasses the following sales: 1,918 vehicles crossed the block, with 1,249 or 66% selling at the hammer price of $47 million plus, which continues to rise with Bid Goes On sales; and 1,463 lots of memorabilia were offered, with 1,416 or 97% items selling at the hammer price of $906,605. When factoring in Mecum's low 6% buyer's premium on vehicles and 15% buyer's premium on memorabilia, total sales for the event reached an epic $51.1 million.
"We are proud of the excitement shown by collectors, enthusiasts and spectators participating in our Spring Classic event as we delivered on our mission to make the world's largest collector car auction even larger than last year," said President Dana Mecum. "The overwhelming success of our fast-paced Original Spring Classic Auction is continued proof that collectors at all levels are following their passion and buying the cars of their dreams. We also took memorabilia collecting to a whole new level at this event with Mecum's inaugural Memorabilia Auction, which boasted strong participation and high-level bidding."
Held simultaneously with Mecum's vehicle auction, the Memorabilia Auction took place in a separate auction ring and featured petroliana, porcelain and neon signs from various consigners, including entire collections from Mike Guarise and Zeb Morris. The top-selling item was a 60-inch round Chevrolet Super Service Milk Glass Neon Sign (Lot K387) for $20,000.
A huge variety of cars crossed the auction block offering bidders an array of makes and models to suit every collector's taste: high-quality muscle cars, vintage racers, Corvettes, world-class Ferraris, street rods, classic trucks and motorcycles.
Mecum's 2011 Original Spring Classic Top 10 Vehicle Sales (all sales reflect hammer prices) were:
1. 1971 Plymouth Hemi Cuda (Lot S266) at $550,000
2. 2006 Prevost Featherlite Vantare H3-45 (Lot F45.1) at $525,000
3. 1963 Shelby Cobra 289 Roadster (Lot S226) at $490,000
4. 1967 Chevrolet Nickey/Bill Thomas 427 Stage III Camaro (Lot S193) at $400,000
5. 1969 Chevrolet Yenko Super Camaro (Lot F234) at $345,000
6. 1969 Chevrolet ZL1 Camaro (Lot S199) at $305,000
7. 1973 Ferrari 365 GTB/4 Daytona (Lot S132) at $265,000
8. 1969 Chevrolet Yenko Chevelle (Lot F223) at $260,000
9. 1957 Ford Thunderbird Phase I D/F (Lot F228) at $260,000
10. 1970 Plymouth Hemi Cuda (Lot S143) at $225,000
Complete auction results are available to Mecum InfoNet members, which is free to join at www.Mecum.com. Mecum InfoNet members can log in to see car-by-car results by visiting the Results Page.
Tune in to Discovery Communications' HD Theater every Saturday night for episodes of "Mecum Auto Auction: Muscle Cars & More" to see even more entertaining stunts from the action-packed event - like Dana Mecum riding across the block in a Rolls-Royce Moxie Car promotional vehicle whose driver sat perched atop a statue of a horse or piloting an SE-5 Aircraft Replica while catching bids from the floor. For more information, visit www.Mecum.com or call 815.568.8888.
