Shelby Takes Top 3 Spots at Mecum Auction
The bid goes on... Hardly reflecting the current economy, collector car prices continued to maintain favorable momentum at the Mecum Original Spring Classic Auction in Indianapolis, IN, this past weekend.
Unlike other collector car events, the Mecum Auction retains the 'Reserve Bid' mechanism, through which a seller can specify the minimum that a vehicle can sell for, preserving its integrity through challenging times.
Mecum estimates final sales for the Spring Classic Auction will reach $40 million with The Bid Goes On purchases. When cars don't sell on the auction block at a reserve auction, Mecum continues to market those vehicles through its program The Bid Goes On, which has successfully sold 35 cars for $2.5 million in sales from the Indy event with additional deals pending.
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Hundreds of collector cars left the Indianapolis State Fairgrounds with new owners during the 22nd Annual Mecum Original Spring Classic Auction, May 13-17, 2009, in Indianapolis, IN.
A legendary 1965 Shelby Daytona Cobra Coupe did not meet the reserve on the auction block, but continues to be marketed at The Bid Goes On. Serving as the centerpiece for the Indy Spring Classic, the Shelby Daytona brought great energy and many new customers to the auction.
"Several interested buyers are making offers on this big-ticket racecar, which reflects the high quality of vehicles that Mecum Auction attracts," said Mecum. "In its first race the Shelby Daytona Cobra did not finish but went on to win the world championship. While it did not sell over the weekend, it will certainly finish in record form again."
The Top Three sales for the event comprised Lot F248.1, a 1966 Shelby 427 S/C Cobra Roadster at $1,165,000, Lot F246, a 1966 Shelby Cobra 427 Ex-Tom Payne Competition Roadster at $1,000,000, and Lot F248, the 1967 Shelby GT500 Convertible, which sold atr at $825,000.
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