Money from muscle... Mecum's Indiana classic car sale races past $50m



2015-06-26 12:24:59

Money from muscle... Mecum's Indiana classic car sale races past $50m

A 1971 Plymouth Hemi Cuda and 1963 Shelby Cobra 289 Roadster were among the auction's stars...

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).

The Indianapolis, Indiana, sale 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 comprises 1,918 vehicles on the block, with 1,249 or 66% selling at the hammer price of $47 million plus. Meanwhile, 1,463 lots of memorabilia were offered, with 1,416 or 97% items selling at the hammer price of $906,605.

 This1971 Plymouth Hemi Cuda sold for $550,000

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.

Overall, the sale's Top Three were a 1971 Plymouth Hemi Cuda sold for $550,000; a 2006 Prevost Featherlite Vantare H3-45 at $525,000; and a 1963 Shelby Cobra 289 Roadster which realised $490,000.

"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.

 And a 1963 Shelby Cobra 289 Roadsterraced to$490,000

"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."

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 for $20,000.

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