Market Intelligence
Great and real the Mecum Auction at Indy
The Mecum auction house held a marathon auction of 9 days with over 100 hours and 2,500 lots on offer, achieving a percentage of sales (cars only) of 73.92% and taking in $62.95 million (plus those sold after the auction), in addition to motorcycles, boats, and memorabilia. The auction house organized wooden tables around which bidders could try to buy the car without having to wear masks, providing a normal auction experience. The article highlights some of the cars sold, including the 1989 Alfa Romeo Spider 2.0 Veloce, which was sold for $1,650, and the first Shelby GT350 R ever produced, which sold for $3.85 million. The article discusses the ingenious solution that the auction house came up with and how the Mustang was the queen of the auction.
If I didn't know better, I'd say the Mecum auction house was originally from Texas. The reason is quite straightforward: Texas is known for its large numbers regarding absolutely everything. If a Texas farmer tells you he has a “small farm” do not believe him because unlike in Europe, cultivated areas are not measured in acres but in thousands of acres.
In reality Dana Mecum founded his company in Wisconsin but merely quoting their own slogan, “Nobody sells more than Mecum” would justify some of the numbers from the most recent auction in Indianapolis. In the middle of the pandemic they organized a marathon of 9 days (over 100 hours in total!) with 2,500 lots on offer, a percentage of sales (cars only) which reached 73,92% and took in $62,950,000 (plus those sold after the auction) in addition to motorcycles, boats, and memorabilia…
1989 Alfa Romeo Spider 2.0 Veloce sold for $1,650
