Mecum's Miracle in Indianapolis: Far Fewer Cars, Far Greater Revenue

Mecum's press release for Indianapolis uses the word "nudge" — a term from behavioural economics meaning a gentle push — but given that this auction has nearly doubled its sales figures from one year to the next, "skyrocketing" would be a far more fitting description. Well done.

Let's start with the numbers to set the scene. The cars offered actually fell compared to last year: from 2,268 to 1,790 spread across the same 9 days of auction, a drop of 21%. Naturally, cars sold also declined, to 1,276, down 22%. The sell-through rate remained essentially stable, from 72.71% in 2026 to 71.28% this year. What genuinely stunned everyone was the total revenue, which grew in thoroughly skyrocketing fashion: gross turnover climbed from $98,903,445 to $186,724,920, a rise of 89%! Average price surged from $59,978 to $146,333.

The reason for this leap lies squarely in what was on offer. In 2025, only three lots had crossed the fateful million-dollar threshold, totalling $8,030,000. This year, million-dollar lots numbered 25, combining for $100,732,500. The driving force behind this shift — though don't expect auction houses to confirm it, they would deny it — is that unable to compete, especially in the US, with online platforms such as Bring a Trailer, the major sales are pivoting toward the very top of the market, staking everything on top lots, a segment that simply does not lend itself to virtual selling. At the end of the day, if you're spending two, three, or even five million dollars, you want to see the car in person, as it actually is. With this approach, Mecum was able to offer 500 fewer cars while directing its energy — and its commissions — toward the high end of the market.