Mecum car prices

[quick-bowtie]

Jesus you'd swear I had to many beers in me with the spelling in my last post.

Anyways the Black X-Chandler W30 Convert brought in the low 80's and the Red w30 convert brought in the 50's.. Pretty sure those were the prices but I did have a couple beers in me..lol

Both cars were Autos but I still thought that was light considering a 72 olds convert brought in the low 70's later in the day..

Does anyone know who bought the Blue ZL1? He looked very familiar

[NovaMob03]

It's not rocket science...The, hit or miss scenario, seems to happen at Mecum because they have too many awesome cars & not enough high end buyers.
Awesome inventory + fewer bidders = lower prices...it's where shrewd buyers, like Stefano, Charley & others go to buy
Les, the sky is not falling

[SBR]

[ QUOTE ]
It's not rocket science...The, hit or miss scenario, seems to happen at Mecum because they have too many awesome cars & not enough high end buyers.
Awesome inventory + fewer bidders = lower prices...it's where shrewd buyers, like Stefano, Charley & others go to buy
Les, the sky is not falling

[/ QUOTE ] I agree, too many cars and waaay too many auctions. There is less excitement between auctions now because it seems like there is another one just around the corner. This is in no way a knock against the auction houses as they are in business to make money and if the demand is there they will have more of them, which will continue to hurt prices JMHO. Overall however I would say the market is still strong for quality no BS stuff, just not crazy money. Not too bad considering consumer confidence is at its lowest point in nearly three decades.
Regards,

[Les Quam]

I agree that high end stuff is still in some circumstances bringing great money. And in some cases crappy stuff is still bringing silly money as in the case of the black Boss 9 that brought 275K plus fees. That being said the pre auction estimates for Dave's cars were 5 million for the 23 cars. I doubt they brought 4 million? The W30 ragtops were expected to bring 200K each. The blue RS ZL-1 was expected to bring 1.5 million or more and the yellow ZL-1 800K to a million. That the two ZL-1 brought roughly half what was expected and the W 30 ragtops if the number reported on this thread is correct is way below market, or what people thought the market was? I think like others have said it was too many quality cars for too few buyers but I also think having the auction in a lousy area of Indy was not a great business plan. Most heavy hitters prefer a resort atmosphere or at least outside of a city like Chicago for their families to have some fun? I can't imagine Dana or Dave are very happy right now?

[427king]

Certainly if you want to bring top dollar for rare cars, it wasnt a good idea to bring so many good cars at once because it confuses people as to what they want to buy,having multiple[3] ls6 ragtops and 2 zl1s did nothing but bring the price down for them. Had there been one of each i think both types of cars would have broiught alot stronger money. If there were 2 guys wanting a zl1 they didnt have to compete against each other since there were 2 cars for them .

[69 JL-8]

DOES ANYONE KNOW WHY DAVE DECIDED TO PART WITH HIS COLLECTION?

[SBR]

I believe that Dave had 21 cars for sale at the auction and all were sold except the restomod Mustang. The cars brought over 4.9 million plus commissions. While I liked the setup at the auction site it is not in a great location as was already said. I hope they move the auction to St. Charles.

[SIR-VIVOR]

I wrote the check for the Boss 9. If you can find me another unrestored black California one, I'll buy it too! Way easier to replace the money than the car!

[ohhawk]

I watched most of Saturday on TV and viewed some of the sales that are now posted on their website. As has already been noted it looked hit and miss but in general I think if you went there with money to spend and an open mind there were some good buys.

If you were there to buy a hot rod or restomod there were some steals. Cars with racing history seem to continue to bring good money. A number of documented LS6 hardtops could be had in the 70's range. A couple of cars I've seen at auctions earlier this year ended up bringing nearly 20% more at this auction and sold......so go figure.

Can't argue with the thinking that too many cars/too few buyers but perhaps part of the reason there were too many cars is that there is a general softness in the market.

[Les Quam]

Sir-vivor,
Very sorry about the comment but I looked at the Boss 9 twice when Dave owned it and thought it was a nice driver, with fantastic paperwork and history, I also looked at it when it was for sale before Dave bought it. Two Gold card MCA judges looked at it again Friday and told me they thought it was "crappy" I told them I thought it was a nice driver with a bulletproof history. I figure the judges know more than I so I went with their opinion. It has all original paint except for the two doors which were painted. Ed Meyer the Boss 9 guru thinks it is one of the best around period end of story. I paid 300K for my 9000 mile all original black Boss 9 and later sold it for a lot more during the market frenzy about a year ago. I know of a red 4000 mile Boss 9 purchased from the original owner that can be bought for 350K right now if you want another original one or know someone that does. I simply think you paid strong money for the car in a down market but you can't pay too much, just too soon and who is to say you paid too much when you consider what was paid for the Boss 9s at Barrett Jackson the last two years. Your car is clearly better than any sold there in the last two years. Black is rare for a Boss 9 and your car runs really well which is also rare for any Boss 9. Your car has had nothing done to it while at Dave's and with some detail would probably win a MCA unrestored Gold. My two cents.