MECUM Auctions in Kissimmee, Florida was held the first week in Jan 2019 and was a SMASHING success. Held in 2 parts, Tuesday — Sunday, With a break coming on Monday. UP Again for a second week and even more valuable offering that weekend. (Ours went that Friday and Saturday). Reported a 72% sale through. Very respectable. Many of the high dollars vehicles found new Owner’s. Some of course, did not. Again the “glass house” of high ultra high dollar cars garnered a great deal of interest. Fueled by the full wall videos helped to heighten the anticipation as Friday and Saturday sale dates approached. “Who doesn’t enjoy when a vehicle in excess of one Million dollars pull onto the block. Weather was great and the crowds were huge.
On to Arizona. Unfortunately, Last minute changes prevented me from attending this year. Barrett-Jackson was exciting to watch on TV. Early results are in for this year’s Arizona Auction Week, and the classic car market is strong. There is still some after auction deals working, but so far $254 Million has changed hands. 2019 Ford GT (Serial #1) brings in $2.5 Million. More that triple the MSRP??
OTHER Interesting Numbers:
Gooding & Company sold over $48.2m with a 1963 Ferrari 250 GT SWB Berlinetta fetching $7.595m.
RM Sotheby’s sold about $37m with 131 cars changing hands. A 2,900-mile 1985 Ferrari 288 GTO sold for $3.36m and a 1948 Tucker 48 sedan sold for $1.6m.
Bonhams sold around $16.1m what a 1951 Maserati A6G/2000 Spider selling for $2.755m.
Worldwide Auctioneers sold $9.5m with a 1959 Mercedes-Benz 300SL Roadster selling for $990,000.
Russo and Steele have not released final numbers, but preliminary numbers are around $11.8m. Of course this is a NO RESERVE SALE. Upon exit, many of my peers came away with a shortage of $$$$ in their pockets. Like auctions, you have winners and losers. Corvettes!!! What can I say, but if you had a very nice #1 or #2 condition original car. 1953—72 then you probably had your entry sold well short of the projected amount. (Insert sad face here) But … if you had a Resto-Mod Corvette… You probably hit it B I G! AND I MEAN B I G!
As we write this letter, Mecum is in Las Vegas selling Motocycles. Report back so far is the sale is “On Fire”.
Fetching a 90% sell through Friday. AMAZING.
Each month there is a classic car auction somewhere in the US.
We will always try to keep you posted – always check back here.