24 April 2014

Auctions Results: Mecum’s 2014 Houston sale

Mecum Auctions finished its third annual sale in Houston, Texas, April 10-12, 2014. Although fewer cars were sold this year compared to last, Mecum still brought in more money with $32M in sales compared to $25M in 2013. The average sale price jumped by 44% year over year as well, mainly due to a 1964 Ford GT40 prototype coupe selling for a massive $7,560,000, including buyer’s premium. This car had a well-documented race history and ownership, and previously sold at auction in 2012 for $4,950,000 after a meticulous restoration.

The second notable sale went to a 1967 Chevrolet Corvette coupe, which traded for an incredible $783,000. This example carried the base 427-cid V-8, and it ended up selling for 650% higher than market value. This can be attributed to the car’s 2,996 original miles, high level of documentation, and fantastically preserved condition. As testament of its time-warp condition, Mecum reported that nobody had ever sat in the passenger seat.

Other cars of interest include a 1971 Oldsmobile 4-4-2 W-30 convertible that went for a middle-of-the-market $126,360, a restored 1972 Chevy K5 Blazer with a crate 350 motor that traded for a very strong $44,280, and surprisingly low $8,100 1992 Porsche 968 Cabriolet.

Top 10

  1. 1964 Ford GT40 prototype coupe sold for $7,560,000

  2. 1967 Chevrolet Corvette 427/390 coupe sold for $783,000

  3. 1968 Chevrolet Camaro Yenko 427/425 coupe sold for $481,500

  4. 2008 Ferrari 430 Scuderia coupe sold for $183,600

  5. 1934 Cadillac Fleetwood V-12 all-weather phaeton sold for $178,200

  6. 1968 Toyota FJ-44 custom SUV sold for $162,000

  7. 1932 Rolls-Royce Phantom II Brewster & Co. limousine sold for $156,600

  8. 1960 Porsche 356B (T5) S90 Cabriolet sold for $156,600

  9. 1970 Plymouth Superbird 440/375 hardtop coupe sold for $145,800

  10. 1967 Chevrolet Corvette 427/435 coupe sold for $137,700

Mecum’s next sale will be in Kansas City, Mo. Around 700 cars are slated to cross the block from April 24-26, including a 1969 Ford Mustang Boss 429 Sportsroof Coupe.

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