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Mecum Kissimmee Sales Push $40 Million

Posted in Car Auctions, Event Coverage by Kurt Ernst | February 2nd, 2011 | 2 Responses |
1963 DragonSnake Cobra

This DragonSnake Cobra brought $875k. Image: Mecum

Despite a struggling U.S. economy and near record unemployment levels, Mecum’s recent collector car auction in Kissimmee, FL proved two things: there’s still a strong market for collector cars, and those with money don’t mind spending it. Consider the top five automobile purchases: a 1963 Shelby DragonSnake Cobra sold for $875k, a 1966 big block Cobra drew $550k, a 1957 Ford DF Phase 1 got $250k, a 1969 Pontiac GTO Judge sold at $225k and a 1940 Packard Darrin Convertible drew a hammer price of $205k. Even more pedestrian cars drew good prices, like the 1990 Chevy K5 Blazer that sold at $12,750, the 1989 Ford Mustang GT that sold at $11,500 or the 1975 Cosworth Vega that sold at $13,000. If you were looking for a weekend toy, there were bargains to be had as well, like the Chevelle SS replica (complete with 454 motor) that hammered at $11,500.

This 1966 427 Cobra brought $550k. Image: Mecum

There were a surprising number of vehicles that didn’t meet their reserve prices, which I believe we’ll continue to see at auctions for some time to come. The collector car (and boat) market has always been cyclical, and those who bought at the peak of the market (remember 2006?) have yet to accept that those prices won’t come back for a long, long time. As with every other auction I’ve ever seen, quality cars sell, regardless of the price. Interesting cars sell, but only if they’re priced with a realistic reserve.

I’m not sure I’m ready to predict a healthy economy in the next six to twelve months, but this much is clear: car enthusiasts are once again opening their wallets, and that’s exactly what it’s going to take to speed up the recovery. Call me hopeful that the worst is behind us.

Source: Mecum Auctions

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2 Responses

  1. anna wyatt says:

    i need a price for a 1964 1/2 mustang !

    • Kurt Ernst says:

      anna, that’s like saying you want a price on a house. There are too many variables to give you an accurate answer, but here are some rough numbers:

      – A beater that needs a total restoration and isn’t a numbers matching car would probably sell between $10k and $20k

      – A driver that isn’t numbers matching and needs some restoration would probably sell between $15k and $25k

      – A numbers-matching show winner would probably sell for $25k and up.