Auctions Results: Mecum’s 2014 Houston sale

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1964 Ford GT40 prototype

Mecum Auctions finished its third annual sale in Houston, Texas, April 10-12, 2014. Although fewer cars were sold this year compared to last, Mecum still brought in more money with $32M in sales compared to $25M in 2013. The average sale price jumped by 44% year over year as well, mainly due to a 1964 Ford GT40 prototype coupe selling for a massive $7,560,000, including buyer’s premium. This car had a well-documented race history and ownership, and previously sold at auction in 2012 for $4,950,000 after a meticulous restoration.

The second notable sale went to a 1967 Chevrolet Corvette coupe, which traded for an incredible $783,000. This example carried the base 427-cid V-8, and it ended up selling for 650% higher than market value. This can be attributed to the car’s 2,996 original miles, high level of documentation, and fantastically preserved condition. As testament of its time-warp condition, Mecum reported that nobody had ever sat in the passenger seat.

Other cars of interest include a 1971 Oldsmobile 4-4-2 W-30 convertible that went for a middle-of-the-market $126,360, a restored 1972 Chevy K5 Blazer with a crate 350 motor that traded for a very strong $44,280, and surprisingly low $8,100 1992 Porsche 968 Cabriolet.

Top 10

  1. 1964 Ford GT40 prototype coupe sold for $7,560,000

  2. 1967 Chevrolet Corvette 427/390 coupe sold for $783,000

  3. 1968 Chevrolet Camaro Yenko 427/425 coupe sold for $481,500

  4. 2008 Ferrari 430 Scuderia coupe sold for $183,600

  5. 1934 Cadillac Fleetwood V-12 all-weather phaeton sold for $178,200

  6. 1968 Toyota FJ-44 custom SUV sold for $162,000

  7. 1932 Rolls-Royce Phantom II Brewster & Co. limousine sold for $156,600

  8. 1960 Porsche 356B (T5) S90 Cabriolet sold for $156,600

  9. 1970 Plymouth Superbird 440/375 hardtop coupe sold for $145,800

  10. 1967 Chevrolet Corvette 427/435 coupe sold for $137,700

Mecum’s next sale will be in Kansas City, Mo. Around 700 cars are slated to cross the block from April 24-26, including a 1969 Ford Mustang Boss 429 Sportsroof Coupe.

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Auctions Results: Mecum’s 2014 Houston sale

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1966 Chevrolet Corvette 427/425 Coupe

Now in its third year, Mecum’s spring Houston auction acts as an official start to the season for those in the Lone Star State. The sale is slated for April 10-12, 2014, at The Reliant Center, and is advertised as featuring 1,000 vehicles, making it one of the single biggest venues in the country. Here are five cars that we will be paying particularly close attention to this year:

1966 Chevrolet Corvette 427/425 Coupe
Lot S124
Hagerty Price Guide: $41,200-$124,600
The 1966 Corvette is a landmark among Chevy enthusiasts, as it marked the introduction of Chevy’s 427-cid big block V-8. This example ticks all the right boxes with a 425-hp tune of the legendary engine, side exhaust, 36-gallon fuel tank, heavy-duty brakes, and knock-off wheels. It is also well restored, fully documented and a Triple Crown winner. Mecum has earned a reputation during the past two years as the place to sell Corvettes, and we expect this car to attract a lot of interest.

1965 Ford Mustang GT 289/271 Fastback Coupe
Lot F124
Hagerty Price Guide: $28,800-$61,500
Few cars have gained the instant level of popularity as the Mustang — it only took two years for Ford to sell 1 million — and that popularity remains strong today. With the 50th anniversary of the Mustang in full swing, this well-equipped fastback should be in the spotlight for many buyers. No better time than this year to fully enjoy one of America’s most important cars.

1970 Plymouth Superbird 440/375 Hardtop Coupe
Lot F274
Hagerty Price Guide: $84,400-$178-000
The Superbird is famously a product of Plymouth’s NASCAR homologation efforts, and the car was so successful in competition that it prompted NASCAR to heavily regulate aerodynamic designs. In the market, the Superbird has been remarkably successful, too, with the 440 ’Bird rebounding fully from 2009’s recession to hit a highwater mark in 2012. Prices have since relaxed a bit, but many pundits feel there is still a lot of upside on these cars. This example is equipped with an auto trans and dressed in white rather than a more popular “High Impact” color, which means its sale price is likely to remain within reach of more enthusiasts.

1960 Porsche 356B S90 Cabriolet
Lot S107
Hagerty Price Guide: $81,300-$237,000
After spending a good portion of its life in the 911’s shadow, the Porsche 356 has become one of the hottest cars on the market. The 1960 S90 Cabriolet, for example, has appreciated by 56 percent over the past five years. Such a quick ascension has plenty of hobbyists wringing their hands, but at the moment there appears to be no shortage of buyers at current prices. Still, we are watching this sale for signs of weakness.

1974 DeTomaso Pantera L GTS Coupe
Lot S130.1
Hagerty Price Guide: $50,000-$82,000
The DeTomaso Pantera was one of the most popular of a long line of Italian-American cars, entirely due to its wicked performance. It was so popular, in fact, that most were driven into the ground, heavily modified to wring even more horsepower out of their exotic package, and then driven into the ground again. Not so with this example, as it reportedly has only traveled a scant 763 miles from new. Low-mile examples are always appealing to collectors, but are doubly so on cars that have reputations like the Pantera.

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