Mecum car prices

[Vintageracer]

Anyone know that the Red 70 Buick GS Stage 1 Convertible brought?

[Mr70]

It sold for $115,000.00.
http://www.mecumauction.com/auctions...D=SC0508-65956

[olredalert]

-----Wow!!! Automatic for $115,000. Either crazy or a visionary. The two are close, I think.......Bill S

[Les Quam]

There are ZL-1s and then there are ZL-1s. This unrestored blue ZL-1 with the low miles and original paint and original interior not to mention the original engine was one of the two or three most historically significant muscle cars in existence. IMHO far more valuable then any of the HEMI Cuda convertibles that sold for two or three times as much.

We all agree a car can only be original once and original cars command a justifiable premium. This car had no stories attached to it , no one was going around claiming it was a re-body or a repaint or had tape marks etc. It has always been a well known car with tons of media coverage.

Many considered it to be the holy grail of muscle cars. The ZL-1 in the Camaro is widely considered to be the pinnacle of muscle car performance and this car was a documented low mile unmolested one of two RS ZL-1.

So today's market is evidently saying the holy grail is worth 800K. That is good or bad depending on which side of the fence your on I guess? Buyer or seller?

[sixtiesmuscle]

As far as the "holy grail" status of the blue car, that may be the opinion of many people, but, I can assure you, not all people. I have cars that are worth less than half of that car that I would personally rather keep than trade for it. That is without regard to value of course. I might be dumb, but, I'm not stupid. I think.

Anyway, the crazy run up of prices for hemi Cuda converts dragged everything else up with them. That was a lot of blue sky IMO, and, the leaders on the way up have also led the pack on the correction. I think this sale has established a base for buyers to feel comfortable to start buying again. A good healthy market with reasonable increases in values is good for buyers, sellers, AND keepers in the long run.

[sixtiesmuscle]

One more thing. In the weeks leading up to the Mecum sale, I had heard about several high end collectors who planned to bid on the ZL1s. The rumors that they were going to buy those cars may very well have scared off some viable bidders. I think that happens more than we want to admit. The thought that "I want that car, but, I'm not even going to go because [insert name of rich guy] is going to pay whatever it takes to own it". Then "rich guy" doesn't show up, or, is able to steal something because nobody else with the wherewithal shows up.

[Canucklehead]

I thought the ZL1 corvettes are the holy grail!

[Stefano]

Great Auction!
I bought some cars, sold some cars. Spent time with good friends, from all over the world. The location and venue are very good for a muscle car auction. Much better than schlepping cars around in the Mud at B/J.

The Mecum Team "delivered the goods" once again!

See you there next year!!

[Vintageracer]

Either Dana or Dave lost their ass on the 70 GS Stage 1 Convertible. Somebody got a heck of a deal on real car for cheap money!

[P.J.]

In 1988 the 427 67 documented restored corvette was selling for $100,000 Canadian at auction.In late 1989 when the economy hit the skids that same car sold at a local auction for $50,000 Canadian. The car market is like the stock market. Buy low sell high.For some of us that are in this hobby for the sheer pleasure its not a problem because we are in it for the long run.
PJ