Mecum Original Spring Classic 2012 – Auction Report

Lot # S217 1967 Pontiac GTO Convertible; S/N 242677P107543; Engine # 360412 YS; Burgundy Metallic/Pearl White vinyl; White vinyl top; Recent restoration, 2+ condition; Hammered Sold at $61,000 plus commission of 6.00%; Final Price $64,660 -- 400/335hp, automatic, P/S, P/B, A/C, Rally II wheels, redline radial tires, tilt steering column, woodgrain steering wheel, buckets and console, hood tach, pushbutton radio. Excellent paint, chrome, top, glass and interior. Restored to showroom condition and maintained that way. Superior door fits and gaps. PHS documented. This is a superior GTO convertible, in excellent condition and equipped -- other than the automatic -- just the way today's collectors would like it. With those attributes is a sound buy at this price.

Lot # S218 1958 Chevrolet Corvette FI Convertible; S/N J58S1041017; Engine # F117CS; Blue, Silver coves/Blue vinyl; White vinyl top; Recent restoration, 2 condition; Hammered Sold at $140,000 plus commission of 6.00%; Final Price $148,400 -- 283/290hp, 4-speed, WonderBar radio, hubcaps, blackwall Deluxe Champion tires, RPO 684 suspension and brakes. Very good paint, chrome, interior and top. Restored to like new with going over the top. No documentation but 'authenticated as the real deal by a visual inspection from Ken Keyser.' Mr. Keyser's opinion must have satisfied the bidders, because this is a genuine premium price for a correctly configured and equipped car with these specs.

Lot # S225.1 1958 Cadillac Eldorado Biarritz Convertible; S/N 58E010622; White/Red leather; Older restoration, 2+ condition; Hammered Sold at $165,000 plus commission of 6.00%; Final Price $174,900 -- Chrome Sabre wheels, wide whitewalls, Autronic eye, electric fan, aftermarket A/C, parade boot, WonderBar radio. Excellent paint, chrome and interior but a little overdone with shiny black paint underhood. Dash and instruments are spectacular. Hardly looks used all. This is a 10-year old restoration that doesn't look even 10 months old. It was offered here a year ago, then at Worldwide's Auburn catalog sale in September without selling. It was time to go, and the seller smartly accepted the appropriate offer today. Fair to both the buyer and the seller.

Lot # S233 1969 Chevrolet Corvette L88 Coupe; S/N 194379S737301; Engine # T1125LO 19S737301; Fathom Green/Saddle leather; Older restoration, 3+ condition; Not sold at Hammer bid of $235,000 -- 427/430hp L-88, M-22 4-speed, F-41 suspension, 3.70 Posi-Traction, J-56 power brakes, transistor ignition, tinted glass, Rally wheels, trim rings, Firestone Wide Oval narrow whitewall tires. A mediocre older restoration that shows its age and use. Sound and presentable but not up to the standards of the cars around it. The last L-88 built documented with build sheet, window sticker copy and complete owner history. Reported sold at Barrett-Jackson Scottsdale in 2006 for $237,600 and probably in the same, if slightly more aged, condition as it was then. Apparently the consignor thinks it is worth more, not unreasonably, but takes something of a risk by holding out.

Lot # S236 1957 Ford Thunderbird Convertible; S/N D7FH188984; Starmist Blue/Two tone Blue; Unrestored original, 3- condition; Hammered Sold at $99,000 plus commission of 6.00%; Final Price $104,940 -- 322/245hp, automatic, P/S, porthole hardtop (only), wheelcovers, whitewalls, Town & Country radio, tinted glass. One owner until February of this year. Partially repainted, otherwise original. Steam cleaned engine and chassis. Original tires. 20,582 miles from new with documentation. This result is a $60-70,000 premium for originality, low miles and one-owner history. That seems extreme, but when will another like it show up?

Lot # S247 1967 Chevrolet Camaro Z/28 Race Car; S/N 124377N163228; Red, White stripes/Black; Competition restoration, 2 condition; Hammered Sold at $160,000 plus commission of 6.00%; Final Price $169,600 -- Cross Ram dual quads, 4-wheel disc brakes, dark grey painted Torque Thrust wheels with Goodyear Blue Streak tires, Accusump, full roll cage, Corbeau bucket seat. Pre-production Z/28 A-sedan raced by Gary Morgan for Heinrich Chevrolet. Very well restored for a vintage race car, even has painted graphics. Sold at Barrett-Jackson's Palm Beach auction in 2006 for $324,000, then no-saled twice in 2007 at Mecum Belvidere and RM Monterey at $180,000 and $160,000 respectively. With its documented racing history (which was better explained in prior auctions) and impressive presentation this is a superb value in an historic racing car that will be welcome at any event for which it is eligible. This is a good value for the money.

Lot # S269 1970 Plymouth Road Runner Superbird 2-Dr. Hardtop; S/N RM23U0A178682; Lemon Twist Yellow, Black vinyl roof/Black vinyl; Cosmetic restoration, 3+ condition; Not sold at Hammer bid of $92,500 -- 440/375hp Magnum, automatic, Sure Grip, buckets and console, radio and heater delete, rally style wheels with trim rings, blackwall radial tires. Represented as matching numbers and body-off restored but the work is not up to expected standards. Chassis and underbody got superficial attention. Paint is orange peely. Interior door trim painted over alligatored old paint. This car has been offered the last two years at Indy with no-sale bids of $72,500 and $90,000. The offers are creeping up, but the car's condition is no help at all in getting any more. The seller should have accepted the real money and not held out for the $110,000 reserve.

Lot # S270.1 1944 Mack Model 45 Fire Truck Pumper; S/N 45S1159; Black, Gold accents/Tan leather; Customized restoration, 1 condition; Hammered Sold at $230,000 plus commission of 6.00%; Final Price $243,800 -- Viper V-10, automatic, lowered to within an inch of the road with air bags. Beautiful paint, chrome and details. About as outrageous as any custom can be, but superbly designed, executed and finished. Multiple award winner. Comes with custom Hill trailer, Lot S270.2, included in this result. Said to have consumed 15,000 man hours, a claim which its condition more than supports. Whadda you do with it? How about smoky burnouts in the upcoming Memorial Day parade?

Lot # S271 1953 Buick Skylark Convertible; S/N 17049704; White/White, Red vinyl; White vinyl top; Older restoration, 3+ condition; Hammered Sold at $65,000 plus commission of 6.00%; Final Price $68,900 -- Chrome wire wheels, wide whitewalls. An older restoration to mediocre standards. Some dirt in the paint and masking holidays. Clean and orderly but a good example of how not to spend money on a restoration. Offered at Kissimmee earlier this year and sold here for a price appropriate to its shortcomings and needs.

Lot # S272 1957 Chevrolet Corvette FI Convertible; S/N VE57S100832; Engine # 17792 84A; White, Ice Blue coves and stripes/Red vinyl; Older restoration, 2- condition; Not sold at Hammer bid of $175,000 -- 283/283hp fuel injection, 4-speed, dual circuit brakes with anti-lock function, heavy duty suspension, big brakes, 37 gallon tank, Unity driving lights, hardtop only, roll bar, AC mechanical tach in place of speedometer, quick release fuel cap on right rear fender with scrutineer's lead seal attached. An old restoration that shows its age. Represented as one of the first FI Corvettes with metering unit 1005 ('a Smokey Yunick test unit and back up for the race cars') and the first Borg-Warner 4-speed, a T89-1c dated October 1956. Displayed for 3 years at the Corvette Museum. The wealth of technical detail on this '57 Corvette is remarkable, but nowhere does it say anything like 'this car was raced at __ by __', a significant and not reassuring omission. With racing history this could be a mid- to high-six figures car. Without it the high bid is reasonable.

Lot # S273 1957 Simca Concept Car; S/N AZ228731; White /; Unrestored original, 3+ condition; Hammered Sold at $36,000 plus commission of 6.00%; Final Price $38,160 -- Automatic, side exhausts, silver wire wheels. Virgil Exner, Jr.'s Notre Dame Masters Degree thesis as completed by Beau Hickory after saving it from destruction in 1964. Dirt in paint, aged interior. Plenty of documentation, topped off by Virgil Exner, Jr. who appeared on-site and donated his original sketches and Master's thesis with the car. Featured in April 1959 Road & Track and displayed at the 1959 Paris Show. No Reserve. Aside from the father-son connection between the Virgil Exners this car is of no significance in automobile design history. It looks like a Speed Racer proposal and has no features that influenced subsequent design history. Its result here was a monumental flop after selling (reportedly) at Hershey in 2007 for $540,000. Regardless of any opinion on the design, it is a breathtaking buy at this price.

Lot # S279 1963 Ferrari 250 GTE Speciale, Body by Allegretti; S/N 4769GT; Red/Black leather; Rebodied or re-created, 3+ condition; Hammered Sold at $260,000 plus commission of 6.00%; Final Price $275,600 -- Dropped nose, raked windshield, hatch back alloy body. Very good paint, chrome and interior. Borrani chrome spoke wire wheels, 6 Weber intake. Done like new without going overboard, neat and tidy. Ex-John O'Quinn. No Reserve. In appearance this is a multi-influenced cross among a GTO, the Breadvan and various Tom Meade specials. In fact, it would not be a surprise to find that Meade had a part in it. 'Drogo' featured prominently in the auction's description, but Piero Drogo had no part in its concept or execution. In fact, its history is only that of a special, rebodied in the late 80's and sold at RM's Monterey auction in 2006 for $275,000. It's as good now as it was then, in both condition and price, and give the new owner a dramatic, interesting, fast Ferrari for a modest price just a few thousand dollars more than the original 250 GTE would be worth today.

Lot # S292 1969 Chevrolet Camaro Yenko 2-Dr. Hardtop; S/N 124379N615166; Rallye Green/Black vinyl; Recent restoration, 2+ condition; Hammered Sold at $185,000 plus commission of 6.00%; Final Price $196,100 -- 427/450hp, high lift cam, high rise intake, 800cfm Holley carb, 4-speed, Hurst shifter, 4.1 Positraction, sealed intake cowl induction hood. Restored to better than new condition, but offered without documentation. No Reserve. When this car was sold at Worldwide's Houston auction in 2005 it was represented as having 17,637 miles and brought $247,500. Today its odometer shows just 17,644. It would be a much more valuable car with documentation spread over the dashtop, or even suggested on the car card. But there was none (nor was there any in Houston) and that makes this price entirely appropriate.

Lot # S299 1957 Cadillac Eldorado Brougham; S/N 5770094949; Black, brushed stainless roof/Light Blue cloth; Visually maintained, largely original, 3- condition; Hammered Sold at $65,000 plus commission of 6.00%; Final Price $68,900 -- Car card. wheel covers, narrow whitewalls. Ex-John O'Quinn CCC #1031. Superficial old repaint over old paint, otherwise original and tired except the upholstery, which is surprisingly good. A good strip and repaint as well as being detailed by an obsessive-compulsive with lots of time might preserve it without requiring a restoration but the air suspension is flat busted so it'll need to be repaired or replaced with steel springs. No Reserve. Sold at the Hershey Auction in 2007 for $151,200, and none the better for the last four and a half years, the new owner bought a project of known complexity at a price that hedges at least part of the cost of catching it before it sinks into barn find condition.

Lot # S305 2006 Chevrolet Monte Carlo NASCAR; S/N 24-199; Red, Blue DuPont # 24/Black; Competition restoration, 2- condition; Not sold at Hammer bid of $85,000 -- Hendrick racing Jeff Gordon road race car, complete and race ready with dyno time Hendrick 358/840hp SB2 engine. Includes a letter of authenticity but no race history provided. For a NASCAR Cup car with no known history the reported high bid should have seen it cut loose and selling well before this bid. Declining this bid is a fantasy.

Lot # S308 1969 Ford Mustang Mach 1 Fastback; S/N 9F02R221838; Red, Matte Black hood/Black vinyl; Recent restoration, 2 condition; Hammered Sold at $59,000 plus commission of 6.00%; Final Price $62,540 -- 428/335hp, automatic, shaker hood, P/S, P/B, AM-FM, rear window slats, wing, tilt steering column, Sport Deck back seat, chromed rally wheels with trim rings, Polyglas tires. Restored like new with excellent paint, chrome, interior, chassis and underbody. Repro options plate and no Marti Report.

Lot # S309 1960 Chevrolet Corvette FI Convertible; S/N 00867S103667; Engine # F120CS; Ermine White/Blue vinyl; Black vinyl top; Unrestored original, 3 condition; Not sold at Hammer bid of $105,000 -- 283/315hp fuel injection, 4-speed, RPO 687 big brake, Positraction, heater, no radio, spinner wheel covers, wide whitewalls. All original except for a dull old repaint. Seat coverings cracked but preserved under new clear plastic covers. Pitted fender trim chrome. Represented as original engine, fuel injection, distributor, transmission and rear axle. Documented with original invoice and purchase contract. Orderly unrestored engine. An artifact of Corvette history. Offered at Mecum's Bloomington Gold auction in 2009 and here in 2009, a no-sale at $75,000 and $80,000 respectively. It has covered 58 miles according to the odometer in three years, and will cover more -- on and off auction blocks -- until the seller find the buyer who covets the originality (as yet unendorsed by Bloomington Gold) and is willing to pay the $130,000 or so it would be worth with all its i's dotted and t's crossed. What could possess an owner (or owners) not to spend the several thousand dollars it would cost to prepare it for Bloomington Gold and take it there to get its authenticity endorsed when the result would be finally to release the value locked up in this car -- if, of course, it's really locked up there? That it hasn't made the trip is making buyers skeptics, and skeptics bid with their heads, not their hearts.

Lot # S315 1967 Shelby Mustang GT500 Fastback; S/N 67400F5A01640; Dark Moss Green, White stripes/Black vinyl; Older restoration, 2 condition; Hammered Sold at $137,500 plus commission of 6.00%; Final Price $145,750 -- 428/335hp, 4-speed, P/S, P/B, woodgrain steering wheel, AM-FM, 5-spoke MagStar wheels, E70-14 Polyglas tires, dual quad intake, aluminum valve covers, Sport Deck rear seat. Center high beams, working rear brake scoops. An older restoration to like new condition showing little age and careful preservation. Sold here three years ago for $129,850, this is the right price today for this beautifully restored and maintained 4-speed GT500.

Lot # S326 1969 Shelby Mustang GT500 Fastback; S/N 9F02R481068; Black Jade/White vinyl; Recent restoration, 3+ condition; Not sold at Hammer bid of $90,000 -- 428/335hp, 4-speed, 3.50 Traction-Lok, P/S, P/B, A/C, Shelby 5-spoke MagStar wheels, Polyglas GT tires, AM-FM, Sport Deck rear seat. 2011 Cobra Automotive restoration that leaves something to be desired. Scratched front bumper, pitted quarter window frames and latches, dull gauge faces, dusty underbody, cracked rollbar surround. This is not nearly -- nearly -- as good a car as the '67 GT500 sold half an hour before. It was sold here in 2009 for $119,250 and given its shortcomings should have been let go at the reported high bid even if the only reason was to generate some of Mecum's 'The Bid if OFF' excitement. It would not be unreasonable if it had sold for this bid.

Lot # S348 1937 Cord Replica 812SC Convertible Coupe Sportsman; S/N 31644F; Engine # 1M0705 9VP; Burgundy/Tan leather; Non-factory replica, 1 condition; Hammered Sold at $93,000 plus commission of 6.00%; Final Price $98,580 -- An amazing replica with many authentic Cord parts like fog lights, steering wheel, instrument panel and more. Concours quality paint, chrome and upholstery. 350 GM engine and automatic, A/C, rear wheel drive. Power windows operate with the original window cranks as switches. Power operated hood and trunk. It walks the walk and talks the talk, even if it's not the real thing, a blend of Gordon Buehrig's timeless design with modern drivetrain and amenities. Even experts were drawn to it, and then marveled at the attention to detail with nothing but praise for its concept and execution. What is it worth? What today's bidder paid for it late on Saturday night.

Lot # S355 1964 Voisin Biscuter; S/N 11780; Matte Silver/Red vinyl; Blue vinyl top; Cosmetic restoration, 3 condition; Hammered Sold at $13,000 plus commission of 6.00%; Final Price $13,780 -- 200cc with drive to only the right front wheel (talk about torque steer.) Dull but appropriate paint. Designed by the idiosyncratic mind of Gabriel Voisin, who never gave a not to conventional wisdom. Sold at RM's Monterey auction in 2010 for $12,100. How could any micro-car collection be complete with an example of Gabriel Voisin's Biscuter?