Dana Mecum’s Auction Company completed their 29th Original Spring Classic Auction in Indianapolis. The auction took place May 17-21, 2016, and saw 1,597 cars cross the block, with 1,094 hammered Sold. The sell-through rate was 69 percent and sales totaled $48,873,590. Of this total, 148 (9 percent) Corvettes of every generation were offered and 84 sold at a sell-through rate of 57 percent. These numbers could increase because of Mecum’s unique after auction “The Bid Goes On” program. The highest price received for a Corvette was $210,000 (Lot F134) for a stunning 1963 split-window Z06 big-tank coupe. It was part of the Joe McMurrey collection and is only 1 of 199 produced with the Z06 option in 1963. Two Corvettes took the lowest price honors at Indy, both selling for $5,500. The first was a 1979 coupe (Lot W22) with minor modifications. The second was a white 1988 convertible automatic (Lot G15) with a new black top and red interior. This is our second Mecum price check for 2016 to enable you to keep track of current Corvette price trends.
The following is a breakdown of the low/high prices of Corvettes that sold at the 2016 Indianapolis Mecum Auction. The ones that were not sold (64) were placed in “The Bid Goes On” program. This program allows owners and potential buyers a chance to complete the sale after it passes through the auction. Pre-buyers can browse the for sale cars located on the auction grounds or on Mecum’s website. This allows prospective buyers to inspect what is being offered before they decide to bid on a specific Corvette. Lot numbers identify each car and the letter tells you what day it will be available for sale. C3 Corvettes had the highest sell-through rate of 69 percent with 32 offered and 22 sold.
Here is a breakdown of the high and lows of each generation Corvette that crossed the block.
| Model Years || # of Lots || # Sold || Percentage || Lot #, Low Sale Price || Lot 3, High Sale Price
| 1953-1962 || 25 || 12 || 48% || S94.1 & T263, $43,000 || S170.1, $150,000
| 1963-1967 || 53 || 26 || 49% || S38.1, $35,000 || F134, $210,000
| 1968-1982 || 32 || 22 || 69% || W22, $5,500 || T202, $77,000
| 1984-1996 || 21 || 13 || 62% || G15, $5,500 || F77, $22,000
| 1997-2004 || 12 || 7 || 58% || W281, $14,000 || T226 & W159, $25,000
| 2005-2013 || 3 || 2 || 67% || W171.1, $26,000 || F171, $75,000
| 2014+ || 2 || 2 || 100% || G113.1, $75,000 || F5, $93,000
| Totals || 148 || 84 || 57%
Mecum’s up-to-date website, www.mecum.com, is a good way to locate your special Corvette. This comprehensive site allows you to register, shop and buy a Corvette. This is also a great way to look at Mecum’s remaining 2016 schedule so you can buy or sell a Corvette.
This Aztec Cooper with Beige coves 1957 Corvette (Lot S210) featured a rare and operational electric top. It was fitted with a 283cid/270hp small-block and twin four-barrel Carter carburetors, coupled to a four-speed transmission. This was 1 of 263 produced with this color combination. It was estimated to sell for between $135,000-$165,000, but was well bought for $110,000.
This 1962 Corvette (Lot S170.1) was a GM Styling show car. 1962 was Chevrolet’s 50th “Golden” Anniversary and this car was used to experiment with the anniversary colors. It was known within GM as the Gold-on-Tan evaluation car. This rare Corvette is fitted with a 327cid/300hp engine and a four-speed transmission, and sold for $150,000.
The color combination of Roman Red/Black interior 1962 Corvette (Lot S94.1) was very desirable. The 360hp engine was originally fitted with a fuel-injection unit, but was replaced with a four-barrel carburetor. It is a Northern California car and was estimated to sell for between $50,000-$60,000, and sold for $43,000.
This Daytona Blue “Survivor” 1963 Corvette (Lot S38.1) had seen plenty of hard service before it was retired to a barn decades ago. It is equipped with a 327cid/360hp fuel-injected engine and is equipped with a four-speed transmission. This convertible is a time capsule that needs a lot of tender loving care. It sold for $35,000.
Collector Joe McMurrey brought an extensive Ford racing collection to Mecum Indy. This 1963 Corvette Z06 split-window coupe (Lot F134) represented the top Corvette competitor against the dreaded Cobras. It is an NCRS Top Flight winner and sold for $210,000.
In 1978, Corvette decided to celebrate the brand’s 25th anniversary with a revised rear roof and special paint schemes, including this limited edition black and silver Indy Pace Car livery. This Corvette Pace Car (Lot W84) was a barn find and has 24,000 miles on its clock. It sold for $10,500.
At the height of the late ’60’s horsepower wars this 1969 L71 427cid/435hp convertible (Lot T202) was the highest horsepower Corvette available. Remember, the L88 was rated at 430 hp for advertising purposes. This NCRS Top Flight Award winner sold for $77,000.
This 1988 Corvette convertible (Lot G15) featured a new top and average paint. It sold for $5,500.
1990 was the first year for the “King of the Hill” ZR-1 supercar. Early cars sold for crazy money. This very clean example (Lot F77) has been driven 18,000 miles and sold for $22,000.
Mallett Cars in Berea, Ohio, took delivery of this 1997 Corvette Z51 coupe (Lot T226) in April 1997. It was fitted with a 2001 prototype 385hp Z06 engine and was the first C5 equipped with a six-speed manual transmission. Its original color was Sebring Silver with black interior. GM engineer Jim Minneker and Chuck Mallett entered this car in Car and Driver’s 1997 One Lap of America and finished Second overall after a 7,000-mile run around the U.S. It was an excellent durability test for this new-technology Corvette. It has an extensive racing and development career and sold for a well-bought $25,000.
Corvettes have frequently paced the Indianapolis 500 and this replica (Lot F57) duplicates the 1998 Indy Pace Car. It is 1 of 1,163 replicas that were offered for sale. It is equipped with the Z4Z option and shows 7,650 miles. It sold for $24,000.
2004 was the last year for the fifth-generation Corvette and this Millenium Yellow convertible (Lot W159) is an excellent example of this iconic Corvette. It only shows 5,800 miles and is fully loaded. It sold for $25,000.
This 2006 Corvette convertible (Lot W171.1) is fitted with a six-speed manual transmission and is believed to have 38,400 miles. It sold for $26,000.
In late 2008, Corvette unleashed the 638hp ZR1 fitted with an Eaton supercharger. In 2009 only 1,415 were built and Ken Lingenfelter added this Blade Silver example (Lot F171) to his collection. New, it cost well over $100,000, but this 2,675-mile example sold for a well-bought $75,000.
This triple black 2015 Z06 convertible (Lot G113.1) has only been driven for 150 miles. It is fitted with the new-for-2015 eight-speed automatic transmission and sold for $75,000.
For 2015, the top equipment package for the C7 Z06 was the Z07, like this sinister black coupe (Lot F5). The window sticker for this 650hp monster was $110,000, but sold for $93,000.