The Mecum Auctions company is a great way to find the Corvette of your dreams. They offer buyers a variety of collector cars (including Corvettes), road art, and antique motorcycles. Established by Dana Mecum in 1988, the company is a family-run business headquartered in Walworth, Wisconsin. In 2015, their 22-auction schedule began in Las Vegas on January 8-10 and ends in Austin, Texas, on December 11-12. Mecum always includes a large mix of Corvettes in their auctions. Each year Dana Mecum holds his Original Spring Classic Auction in Indianapolis. We thought it would be a good time to check out how Corvette prices are doing at this annual event.
The 2015 Spring Classic was held at the Indianapolis State Fairgrounds and 1,404 cars were offered for bid and 919 were sold. Total sales exceeded $42.8 million when the auction ended. Included in this total were 151 Corvettes that spanned every generation, from C1 to C7. A total of 92 were sold; a 61 percent sales rate compared to 59 percent sold at Kissimmee in January. In our view, sales are remaining steady. The highest selling price among the 151 Corvettes offered was a restomod LS3-powered 1956 Corvette (Lot S244) that sold for $175,000. The lowest price received for a Corvette was $4,000 for a white 1992 automatic coupe (Lot G147). The most active sales generations were C2 and C3. Only 56 percent of them sold. Several significant Corvette collections were offered at Indy.
Mike Yager − owner of Mid America Motorworks in Effingham, Illinois, has amassed a nice collection of historic Corvettes. He offered 11 of his “My Garage” collectibles for sale at Indy. Here is the “My Garage” list and which cars sold.
• 1957 “Barn Find” Corvette (Lot T226) unrestored, sold for $32,500.
• 1978 Corvette Pace Car (Lot T227) L82 automatic with 4,121 miles and sold for $27,000.
• 1987 SCCA Kim Baker Escort Race Corvette (Lot T228) did not sell, high bid $20,000.
• 1988 Challenge racer (Lot T229) 1 of 56 (3,062 miles) did not sell, high bid $27,500.
• 1988 35th Anniversary Callaway Corvette (Lot T230) 430 miles and sold for $61,000.
• 1990 R9G Challenge Race Corvette (Lot T231), 115 miles, did not sell, high bid $27,500.
• 1993 Dieline Race Corvette (Lot T232) did not sell, high bid $20,000.
• 1994 Corvette Brickyard Pace Car (Lot T233) 1 of 25, did not sell, high bid $23,000.
• 1994 Corvette Limousine (Lot T234) sold for $31,000.
• 2006 Corvette EX Z06 (Lot T235) VIN 50016EX, pre-production test car. Did not sell, high bid $44,000.
• Corvair-powered Corvette movie car (Lot T236) sold for $12,000.
Another notable collection offered at Indy was Larry Gerig’s impressive 1958 fuelie collection. Eight 1958 Corvettes were offered, one in every color that was available that year, and all eight sold for a total of $1,172,000.
Here is a breakdown of the low/high prices of Corvettes that were sold at the Indy Mecum Auction in 2015. All of the cars not sold are added to the “Bid Goes On” category that allows sellers and potential buyers a chance to come to terms. Each car that is up for bid is identified with a lot number, which Mecum uses to identify details of each vehicle on their website. For more information go to www.mecum.com.
|Low / High Prices of Corvettes Sold|
|Model Years||# of Lots||# Sold||Percentage||Lot #, Low Sale Price||Lot #, High Sale Price|
|1953-1962||27||22||81%||T226, $32,500||S244, $175,000|
|1963-1967||37||23||62%||F241, $32,000||S205, $125,000|
|1968-1982||39||25||64%||W221, $7,705||F193, $120,000|
|1968-1982||28||12||43%||G147, $4,000||T230, $61,000|
|1997-2004||16||9||56%||W70, $12,000||F148, $41,000|
It is easy to determine the current value of any Corvette you want to sell or buy. Mecum makes the process very easy to register, shop, and buy a Corvette. We encourage you to browse its website to find that Corvette of your dreams!