Mecum Original Spring Classic 2012 – Auction Report

Lot # S141 1928 Chrysler 72 Roadster; S/N CW590D; Black, Grey/Maroon leather; Black cloth top; Modified restoration, 2- condition; Hammered Sold at $100,000 plus commission of 6.00%; Final Price $106,000 -- Dual intake with Stromberg carbs and custom air filter housing, long tube headers, Red Head, body color wire wheels, blackwall 5.50-6.00 18 Dunlop Racing tires, rumble seat, rear-mounted spare, Parabeam drum headlights. A very sweet little roadster that has been thoughtfully modified and has very good cosmetics, if used a little. Sits menacingly low and looks great. Original but unrestored parts included to return it to stock. 1976 AACA National First Prize and Senior. Dennis Machul Estate. Everything on this Chrysler is done to high standards of materials and workmanship. If Chrysler had access to its technology the 72s raced at LeMans in 1928 might have won instead of coming in 3rd and 4th (behind Bentley and Stutz.) It is a fitting tribute to the marque that will be wonderful on the road and in tours. At this price it should be a significant value for a driving oriented new owner.

Lot # S142 1958 Chevrolet Corvette FI Convertible; S/N J585102590; Engine # F1119CS; Yellow, White coves/Black vinyl; Older restoration, 2- condition; Hammered Sold at $138,000 plus commission of 6.00%; Final Price $146,280 -- 283/290hp fuel infection, 4-speed, WonderBar radio, heater, two tops, spinner wheel covers, whitewalls. Bloomington Gold certified. Represented as numbers-matching. little if any use since restoration. Paint is very good, as is the chrome, interior, underbody and engine compartment. The Corvette is very good. The exceptional price it brought here in Indy is even better.

Lot # S144 1957 DeSoto Adventurer Convertible; S/N 50415283; Black, Gold/Beige vinyl, Brown cloth; Black vinyl top; Older restoration, 2- condition; Not sold at Hammer bid of $170,000 -- 345/345hp dual quad Hemi, pushbutton automatic, P/S, P/B, P/W, dual rear antennas, tinted glass, dual outside mirrors, chrome wire wheels, bias ply whitewalls. Excellent paint, chrome and interior. No longer fresh but still an arresting presence. This restoration dates to the very early 90's before it was offered by Christie's at Pebble Beach in 1992 (a no-sale at a high bid of $60,000.) It was sold by RM in Monterey in 2006 for $123,750 in essentially the same condition in which it was presented in Indianapolis. The seller's expectation has ramped up significantly, although the reported high bid should have been enough, if not more than enough, to see it change hands.

Lot # S146 1957 Chevrolet 3164 Cameo Pickup; S/N V3A57K139502; Engine # FB; Indian Turquoise, Bombay Ivory roof/Turquoise, Ivory vinyl; Recent restoration, 2+ condition; Hammered Sold at $45,000 plus commission of 6.00%; Final Price $47,700 -- 2-barrel 283/185hp, 3-speed, radio, heater, hubcaps, trim rings, whitewalls, varnished bed floor, chrome bed strips, chrome bumpers. Freshly restored with excellent paint, chrome and interior. Dash and gauges are superb. Like new underhood and chassis. As good as it gets. A really nice truck, done everywhere to standards far above those usually set in truck restorations. It will be proudly owned and driven, especially at this price.

Lot # S149 1963 Shelby Cobra 289 Roadster; S/N CSX 2121; Rangoon Red/Black leather; Older restoration, 2- condition; Not sold at Hammer bid of $585,000 -- Chrome wire wheels, F70-15 Polyglas GT tires, chrome paperclip rollbar, grille guard and trunk nerf bar. One of the last built with worm & sector steering. Excellent paint, chrome and interior: Underbody shows a little age. Clean underhood. Offered here in 2009 where it brought a high bid of $525,000 but failed to sell. The same is true this year, just at a bid 11% higher, a bid that could easily have seen it sold.

Lot # S155 1970 Pontiac Trans Am 2-Dr. Hardtop; S/N 228870L108283; Engine # 0075692 WS; Polar White, Blue stripe/Metallic Blue vinyl; Older restoration, 2- condition; Hammered Sold at $35,000 plus commission of 6.00%; Final Price $37,100 -- 400/345hp Ram Air III, 4-speed, P/S, P/B, Rally II wheels, trim rings, F60-15 Polyglas GT tires. Vinyl stripes. An older restoration to like new that has seen little use but is dusty from storage. PHS documented. No Reserve. Sold at Barrett-Jackson in 2007 fresh from its 2006 restoration for $48,400. At today's price it is a very good value.

Lot # S158 1970 Ford Torino Cobra ; S/N 0A38J171876; Yellow/Black vinyl; Cosmetic restoration, 2- condition; Not sold at Hammer bid of $55,000 -- 429/360hp Super Cobra Jet, automatic, shaker hood, buckets and console, factory tach, pushbutton radio, Magnum wheels, P/S, P/B, 3.91 Traction-Lok, slats, Wide Oval tires, Drag Pack. A high quality cosmetic restoration of a 41,779 mile car with excellent paint, chrome and interior. Represented as matching numbers. Underbody is clean but has old undercoat and isn't to the same standards as what is more readily seen. Represented as a body off restoration but it doesn't look like it. For some reason these eminently powerful muscle cars are overlooked by collectors who fawn over Boss 429 Mustangs and big block Chevelles. It's a shame, because they are powerful, rare and have plenty of eye appeal, particularly in a brilliant color like this, which might be Ford's Last Stand Custard bright yellow. It sold at Barrett-Jackson Palm Beach six weeks ago for $55,000 and should have brought more here.

Lot # S160 1957 Chevrolet Corvette FI Convertible Airbox; S/N E57S105116; Engine # F618EL; Polo White/Red vinyl; Black vinyl top; Older restoration, 2- condition; Hammered Sold at $322,500 plus commission of 6.00%; Final Price $341,850 -- 283/283hp Fuel injection, RPO 579E Airbox, 4-speed, RPO 684 suspension and big brakes, radio and heater delete, orange wheels, hubcaps, 6.70-15 Firestone Deluxe Champion blackwall tires. Restored to like new condition many years ago and maintained in nearly show car condition since. Bloomington Gold and NCRS Top Flight. Very clean and orderly but showing age. This is all the right stuff on a '57 Corvette, with the right historical and expert credentials as its auction history shows: sold for $178,500 at Mecum's Bloomington Gold auction in 2004, then for $237,600 at Barrett-Jackson Scottsdale in 2006. It's put 353 miles on its odometer since 2004, a surprise on an important and valuable Corvette like this but one that is sure to have brought some thrills to the lucky owner who put them there.

Lot # S165 1957 Cadillac Eldorado Biarritz Convertible; S/N 5762076125; Starlight Silver Poly/Red leather; Black vinyl top; Recent restoration, 1 condition; Not sold at Hammer bid of $170,000 -- Factory A/C, Autronic Eye, parade boot cover, WonderBar radio, chromed Sabre wheels, whitewalls, power trunk. Fresh high quality restoration in the original color let down by a few details the scuffed windowsill trim and bad fit of the right rear fender trim, but that's all. A gorgeous car in spectacular condition. Crossed the block at the Worldwide auction in Houston two weeks ago with exactly the same result.

Lot # S166 1966 Pontiac GTO 2-Dr. Hardtop; S/N 242176P192180; Engine # 266451 WS; Black/Pearl White vinyl; Recent restoration, 2- condition; Hammered Sold at $70,000 plus commission of 6.00%; Final Price $74,200 -- 389/360hp Tri-Power, 4-speed, P/S, P/B, Hurst wheels, red line radial tires, buckets and console, AM-FM, remote left mirror. Excellent paint, chrome, glass and interior. Represented as matching numbers. Restored to nearly showroom condition. A very desirable example with serious horsepower and a 4-speed plus power steering and brakes that will make it much more contemporary on the street. This is a healthy price for a hardtop, but no less or more than it deserved.

Lot # S169 1969 Ford Mustang Boss 429 Fastback; S/N 9F02Z195401; Candy Apple Red/Black vinyl; Older restoration, 2- condition; Hammered Sold at $250,000 plus commission of 6.00%; Final Price $265,000 -- 429/370hp, 4-speed, P/S, P/B, Magnum wheels. KK# 605. 4,556 miles, known history from new. Chassis and underbody are not as good as the top, but the top is very good. While this Boss 429 rates only a very good in the condition column the price represents excellent. These cars have gone through a big value cycle recently but this result, including a healthy premium for the known history and low miles, suggests they're settling down. The premium over a 'Cuda or Challenger Hemi, however, is slightly troubling.

Lot # S170 1938 Cadillac 38-90 V-16 Convertible Coupe; S/N 5270289; Light Yellow/Brown leather; Black cloth top; Older restoration, 2- condition; Hammered Sold at $210,000 plus commission of 6.00%; Final Price $222,600 -- Red steel wheels, hubcaps only, wide whitewalls, dual enclosed sidemounts with mirrors, skirts. Front fender paint pimpled and failing. Small cracks at stress points. Grille rechromed over unfilled pits. Engine and chassis show age and miles. Good interior and top. Show days are over but this is a superb tour car. It's tough to balance the age and faults of this beautiful old Cadillac's restoration with the inherent rarity and value of the car itself, one of only 10 Convertible Coupes believed built on the 38-90 V-16 chassis. The bidders here did a great job of filling in the blanks in the equation and arriving at a reasonable price.

Lot # S173 1958 Chevrolet Bel Air Impala Convertible; S/N F58N183775; Engine # T1212HA; Turquoise/Turquoise, Silver; White vinyl top; Recent restoration, 2+ condition; Hammered Sold at $115,000 plus commission of 6.00%; Final Price $121,900 -- 348/280hp, Tri-Power, Turboglide, later P/S and power front disc brakes, WonderBar radio, spinner wheel covers, whitewalls, continental kit, dual rear antennas, P/W. Restored like new. Flat bodywork, flush fits, even gaps. Excellent paint, chrome, interior, top and glass. About as good as it gets. We'd all like to have this car with a 4-speed, but face it, most of them didn't come that way. This is as gorgeous a Saturday cruiser today as it was in 1958, and it was really gorgeous in 1958. A superb restoration, it brought an appropriate price that continues the march of '58 Impalas to the top of the value charts.

Lot # S174.1 1957 Chevrolet Corvette Convertible; S/N E57S101026; Engine # F1113EH; Cascade Green, Beige coves/Beige vinyl; Beige vinyl top; Recent restoration, 2+ condition; Hammered Sold at $103,000 plus commission of 6.00%; Final Price $109,180 -- 283/245hp dual quads, 3-speed, WonderBar radio, spinner wheel covers, whitewalls, 3.70 Positraction. Numbers matching engine. 2007 NCRS Top Flight and still show ready with excellent paint, chrome, interior, top and glass. Chrome is especially brilliant. This is a 2007 restoration and it still looks as fresh as the day it was done. The 3-speed is important, as the 4-speed was not available until later in the year, after this car was built. That is a significant indication of the attention to detail that went into the restoration and likely the reason the transmission doesn't match the original build, most of the early 3-speeds having been replaced by 4-speeds as soon as they were available. A neat car and strong but fully deserved money for a hydraulic lifter dual quad.

Lot # S180 2010 Ferrari 458 Italia; S/N ZFF67NFA4A0174854; Grigio Titanio/Cognac leather; Unrestored original, 2 condition; Hammered Sold at $200,000 plus commission of 6.00%; Final Price $212,000 -- Assembly #92466. yellow calipers, SF shields, carbon brakes, 20 inch wheels, F1 transmission, power Daytona seats. Under 500 miles and like new, if a little dusty. About $275,000 seems to be the retail asking price for a low miles 458 Italia, but few if any are as low miles as this. It is a good value at this price, particularly to a retail buyer.

Lot # S183 1969 Chevrolet Camaro Z/28 RS 2-Dr. Hardtop; S/N 124379N642448; Black, White stripes, Black vinyl roof/Black, White herringbone; Older restoration, 2+ condition; Hammered Sold at $90,000 plus commission of 6.00%; Final Price $95,400 -- 302/290hp, 4-speed, JL-8 rear disc brakes, cross ram dual quads, P/B, no P/S, Rally wheels with trim rings and F70-15 Polyglas tires, pushbutton radio, 3.73 Positraction. 2005 restoration and still better than new. I have this car in the opposite exterior colors of White with Black stripes at B-J Palm Beach in 2006 where it brought the healthy price of $232,200 before the recent repaint. I thought that was reasonable at the time. This result is super-reasonable and would not have been over-priced with all this equipment at $135,000.

Lot # S188 1968 Chevrolet Corvette L88 Convertible; S/N 194678S418866; Engine # T0229IT; LeMans Blue/Blue vinyl; Older restoration, 2- condition; Hammered Sold at $600,000 plus commission of 6.00%; Final Price $636,000 -- 427/430hp L88, 4-speed, 3.55 Positraction, J56 brakes, K66 transistor ignition, F41 suspension, Rally wheels, red line Wide Oval tires, smog equipment, hardtop only. Known history from new, never raced or wrecked, represented as the original drivetrain. Documented with Protect-o-Plate and original factory invoice to the selling dealer. Restored in 2005, Bloomington Gold 98.2 points, Special Collections and NCRS Top Flight. No longer fresh but still exceptionally good. The best of the best in big block Corvettes and highly unusual in having never been raced (formally, at least). The restoration is a little long in the tooth but is still plenty good enough. This result is what the market will bear, and right up there with recent results in Kissimmee and Scottsdale. Fair to both buyer and seller.

Lot # S204 1961 Chevrolet Corvette FI Convertible; S/N 10867S105781; Engine # 1105781 F0203CS; Sateen Silver, White cores/Red vinyl; White vinyl top; Recent restoration, 2 condition; Hammered Sold at $131,000 plus commission of 6.00%; Final Price $138,860 -- 283/315hp fuel injection, 4-speed, Big Brake option, WonderBar radio, heater, Positraction, two tops. 2010 NCRS Top Flight and still like new but not represented as numbers-matching. Fresh, sharp and blessed with a highly desirable and rare (1,462 built) fuelie engine, this is premium money for a premium Corvette.

Lot # S208 1955 Chevrolet Bel Air Nomad Station Wagon; S/N VC55T104906; Skyline Blue, Ivory roof/Ivory, Blue vinyl; Older restoration, 2- condition; Not sold at Hammer bid of $52,500 -- 265/180hp Powerpack, Powerglide, single exhaust, P/S, P/B, windshield visor, cassette stereo, wheelcovers, wide whitewalls, spotlight-mirror, grille guard. Generally looks like new but let down by bodywork and prep scratches visible under paint. Right door bottom visibly filled. Good chrome, interior and glass. Flawed enough that it turned off the bidders who were unwilling to pay a premium price for a car with easily visible shortcomings in the restoration. It's a 'no good surprises' Nomad, and that's not good.