Online auctions are the new normal in the collector car world, but this week Mecum successfully pulled off something of a hybrid—limited number of bidders and guests at a live venue combined with an online platform that opened for bidding four days earlier. Held in North Carolina, the auction featured 83 vehicles (mostly muscle cars and trucks) from construction CEO Eddie Vannoy, along with hundreds of pieces of automobilia and a few motorcycles.
Total sales amounted to $7.15M, and there were absolutely no bargains to be found. Of the vehicles with a presale estimate, over 60 percent sold above their high estimate, and Mecum wasn’t exactly stingy with its predictions. While not a huge group of cars, this sale was packed with strong sales and surprises. Here are the ones that surprised us the most.
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There must be a lot of people willing to throw money away just to own an older car. There are many new cars I would rather buy with what was spent on these. For that $110,00, buy a new C8 which is a much better car. Tagging anything with "Collector Edition" is for suckers.
I must agree with "rockem"...These auctions like this and the TV shows have just about taken the common man out of the car hobby. Most working stiffs do not have forty to fifty thousand dollars set aside as play money
The facts are these;
We're essentially guaranteed a second term of our great President.
2021 will be the greatest economic year in U.S. History
Collector vehicles, at this point, are one of the most secure and predictable investments.
No reason why the prices shouldn't be astounding.
Just another example of auction house attempting to maintain an interest about a hobby that in a lull, what with everything going on around the world. I am certain that many knowledgeable people are aware of the price ranges for collector vehicles, at any time. This does not make for serious reading; only for humor.
Reality: whatever the buyer wants to offer.
There are those that feel the period of that time. The 67 SS396 took on the same military acronym of the B-52. So did GTO, 442, HEMI, later Cobra. The period of the Vietnam War took kids or today, dads into war! Means more the symbols of a dynasty than the value of a piece of metal. So to the smart phone intelligence and google masters degree individuals that never experience the 60s, tough **bleep** stupid. I would live it all over again if it was an option. Enjoy your future. Aluminum & plastic sports society!
I don't blame the sellers,they want as much as they can get.This kind of fool hardy spending does not help the car hobbist. It's inflated the value to the point that the normal people who just want a cool old car to work on are pushed out of the market. Suddenly all those people out there think that rusted shell in back of there uncle's garage that used to be a Mustang is worth thousands of dollars. News flash IT'S NOT. It's more likely it's not even a parts car.The problem is that person going to tell you that they saw one on tv sell for $70,000.
The fact that I dislike the colors (mostly black) of these cars may influence my disbelief that people would pay these prices. The only one that has any appeal to me is the C6 (2013) Corvette, but let's face it.....tastes vary and we should be happy that automotive enthusiasm is alive and well.
Big car auction in Greensboro, NC coming soon. It draws a big crowd with amazing cars.. Oh, oh. that was before the pandemic COVID. They have announced only those selling a car will be admitted. No general admissions. So, 20 -80 people may wander into the cavernous building and look try to sell their cars. It is the death of car shows. The germ warfare attach on America has crippled the economy. Jobs lost from those who design automobiles to those who serve food at an auto show. Will it ever recover?
I wonder what my former coworker can get for the low mileage, near pristine , highly optioned '88 4WD Suburban that she paid three grand for three years ago. She did have to buy her own new set of BFG A/T KO3s.
I don't mind people with more money than imagination spending it all on Dutch bulbs, but I do worry that some of the money being squandered is being handed out by the Fed to whoever can least use it.
I don't know how much the auctioneers spent on free liquor for all of the bidders, but it was money well spent. What are you going to do with an '88 Blazer for $80+ grand? Most of the cars mentioned aren't even <i>desirable</i>.
Wow, those guys spent that kind of money for those cars?! What were they smoking, or drinking?! I agree with the other commenter, these dudes were stuck inside for a few months and then went crazy at the auction. Give me a break? The prices on the Blazer and Bronco are just nuts. And the interior of that Magnum station wagon is one of the ugliest things I have ever seen in a car. A bunch of guys (they must be guys!) wasted a lot of money at this auction!!
It shows there are lots of people with more money than sense. Many of those prices will be unrecoverable in the future, unless they go back to auction, where the buying frenzy will take over again and drive prices of nominal cars to even more unsustainable levels.
The 1996 Corvette Grand Sport Coupe had the rare red leather interior - which is hard to find among 1996 Grand Sports. Had a good friend in Portland that owned a Grand Sport Convertible with the red interior; and he was constantly asked if he wanted to sell the car.