10 October 2016

Auction Recap: Mecum Chicago 2016

Mecum moves a lot of Boss 429 Mustangs and typically does quite well with them. Their 1970 Grabber Blue example was their Chicago auction’s most expensive car, selling for $269,500. Another Mustang – a 1968 Cobra Jet Lightweight factory drag car – was probably the auction’s most valuable, but bidding stalled at $200,000 and it failed to sell. Other big no-sales included a 1969 COPO Chevelle at a high bid of $120,000 and a 1964 Jaguar E-Type Roadster at a high bid of $135,000.

But these are only four of the 695 collector automobiles that Mecum gathered, ranging from prewar luxury to rare American muscle, for this year’s Chicago sale. Of all the vehicles offered, 412 sold (a 59 percent sell-through rate) for an overall sales total of $9,494,760. Average price was $23,046. This is a sizable drop from last year, when the Chicago auction saw $12.8 million in total sales. Average price was similar in 2015 and the sell-through rate was identical, so it was the 120 additional cars offered last year that made up the difference. 

As for the notable cars that did sell, a 1966 Shelby GT350H brought a roughly appropriate $151,250, a 1957 E-Code Thunderbird sold for $93,500 and an unrestored matching numbers 1968 Shelby GT500KR brought a downright cheap $84,700. Scotty Pippen’s 1988 Porsche 930 Cabriolet also sold, but despite crossing the block in the Bulls’ hometown, it only saw $110,000.

Other relative bargains at the more affordable end of the spectrum included a 2000 Chevrolet Camaro Z/28 Convertible with a 6-speed for $6,600, a 1995 Alfa Romeo 164 Quadrifoglio for $2,750 and a 1970 Mercury Cougar Eliminator for $23,100. Nash automobile fans also had a special treat at the Chicago sale, as there was a 1957 Ambassador hardtop for $22,000, a 1952 Ambassador two-door sedan for $9,625, a 1953 Statesman Custom two-door sedan for $11,550 and a 1950 Rambler Custom convertible for $25,300.

Overall top 10:

1. 1970 Ford Mustang Boss 429 sold for $269,500
2. 1966 Shelby GT350H sold for $151,250
3. 1967 Chevrolet Corvette 427/435hp Convertible sold for $135,300
4. 1988 Porsche 911 Turbo Cabriolet sold for $110,000
5. 2004 Rolls-Royce Phantom sold for $99,000
6. 1956 Chevrolet Nomad restomod sold for $94,050
7. 1957 Ford Thunderbird 312/270hp sold for $93,500
8. 1970 Dodge Hemi Challenger R/T sold for $88,000
9. 1968 Shelby GT500KR sold for $84,700
10. 1968 Ford Mustang Super Snake replica sold for $77,000

Mecum’s next collector auction takes place in Dallas on November 2-5, 2016. Notable cars include a 1996 Porsche 911 GT2 EVO, 1973 Ferrari 365 GTB/4 Daytona, 1969 Maserati Ghibli 4.9 Spyder, 1969 Dodge Daytona and an unrestored 1970 Plymouth Hemi Cuda.


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