Mecum concluded its inaugural Portland auction on Sunday with $8,999,925 in total sales. 286 lots sold out of the 480 on offer, which means a 60 percent sell-through rate and an average price of $31,468. On Mecum’s calendar, this sale effectively replaced the Seattle auction, last held in 2015, as the biggest collector car auction in the Pacific Northwest. For comparison, last year’s Seattle sale achieved $9,316,080 in total sales and a slightly higher average price at $34,000. Almost 100 more vehicles were on offer last year in Seattle, but Mecum actually sold 10 more vehicles in Portland because Seattle’s sell-through rate was a fairly low 47 percent.
As for the top sales, it was all American horsepower with only one foreign car (a Pantera that’s indeed powered by a Ford engine) included in the top 10. The top sale of the weekend went to a genuine and well preserved ’65 Shelby GT350 fresh out of long-term ownership. Other rarely seen highlights at the top included a ’68 Nova SS that is one of 50 specially equipped with an L88 427 as well as a ’62 Bel Air Bubble Top with the rare dual quad Z11 409 engine.
Some of the most prominent no-sales included a 1970 Dodge Challenger R/T SE with a high bid of $80,000, a 1958 Chevy Impala convertible with a high bid of $85,000, and a 1970 Hemi Cuda with a high bid of $120,000. On the other end of the price spectrum, meanwhile, some of the biggest bargains included a sound, older restored 1953 MG TD at just $13,000 and a white over red 1991 Chevrolet Corvette ZR-1 with barely 60,000 miles on it for just $12,500. That’s a stylish rear-drive sports car with a 375-hp quad-cam V-8 for used Civic money.
Overall top 10:
1. 1965 Shelby GT350 sold for $305,000
2. 1969 Mustang Boss 429 sold for $240,000
3. 1970 Plymouth Hemi Cuda sold for $190,000
4. 1967 Chevrolet Corvette 427/435 Convertible sold for $160,000
5. 1968 Chevrolet COPO Nova SS sold for $145,000
6. 1968 Shelby GT500 Convertible sold for $120,000
7. 1962 Chevrolet Bel Air Z11 sold for $110,000
8. 1968 Pontiac GTO resto mod sold for $105,000
9. 1974 De Tomaso Pantera L sold for $100,000
10. 1966 Chevrolet Corvette 427/425 Coupe sold for $95,000
Mecum’s next collector car auction will be in Denver on July 8-9, 2016. This will be Mecum’s second Denver sale and will feature such cars as a 1970 Buick GSX Stage 1, 1963 Ford Galaxie 500XL R-Code and 1970 Chevrolet Chevelle SS 454 LS6.