Mecum's Indianapolis auction brings in $69.4 million in sales

Corvette pace car collection sells for $1.76 million

(May 28, 2018) INDIANAPOLIS — Dana Mecum’s 31st Original Spring Classic auction in Indianapolis outdid itself once again with a 24-percent growth in overall sales from just last year, earning it a place in the books as the highest-grossing Spring Classic auction in its 31-year history. The six-day classic and collector car auction brought in $69.4 million in total sales as 1,406 vehicles changed hands for a strong sell-through rate of 76 percent.

Several of the auction’s main attractions landed among the top sellers, including an industry-shaking last-minute auction arrival, a 2017 Ford GT that crossed the block and sold for $1.815 million.

Just a few lots later, Keith Busse’s Corvette Pace Car Collection  stunned the crowd when it sold in its entirety as a single lot, with all 16 vehicles selling as a set for $1.76 million. A 2011 Ferrari 599 GTO  nabbed the third spot among top collector-car sales with a selling price of $561,000.

Two cars from the Jim Street Estate Collection that were under close watch by the Hot Rod and custom-car community shined in the spotlight once again. The famed T-Bucket that started the craze, Kookie’s Kar, pictured at right, which brought $484,000, and Street’s legendary ‘50s custom, The Golden Sahara II, which sold for $385,000, were among the most anticipated cars in the auction lineup after spending more than half a century in hiding.

The Richard Cohen Big-Tank Corvette Collection achieved a 100-percent sell-through rate with all five cars selling for a combined $1.82 million. Two of the N03-optioned ‘Vettes also achieved places among the top vehicle sales with Cohen’s 1967 Chevrolet Corvette N03 bringing $418,000 and his ’66 selling for $412,500.

Road Art, which was offered on its own dedicated stage, also achieved strong sales totals with 92 percent of the 1,206 items hammering sold.

“Sales totals have increased by more than 20-percent for each of the past two years of our Spring Classic auction, and just halfway through 2018, Mecum’s growth across the board has already proven to be exponential with similar increases occurring at several of our other annual auctions as well,” consignment director Frank Mecum said. “It’s truly an exciting time to be a part of the collector-car community.”

The complete top 10 vehicle sales at Dana Mecum’s 31st Original Spring Classic auction include:

    2017 Ford GT at $1,815,000
    The Keith Busse Corvette Pace Car Collection at $1,760,000
    2011 Ferrari 599 GTO  at $561,000
    Kookie's Kar at $484,000
    1969 Ford Mustang Boss 429 Fastback at $423,500
    1967 Chevrolet Corvette N03 at $418,000
    1966 Chevrolet Corvette N03 at $412,500
    2006 Ford GT at $396,000
    The Golden Sahara II  at $385,000
    1967 Chevrolet Corvette Coupe at $385,000