Market Intelligence
Pleasure deals
The article describes a recent car auction held in Las Vegas by Mecum, in which 70.6% of the 398 cars brought in $12.5 million. The author suggests that the success of live auctions may be due to collectors preferring the challenge of bidding in person. The article highlights four eccentric cars, including a 1930 Ford Model A Custom Woody sold for $24,200, a 2018 Mercedes-Maybach G650 Landaulet that went unsold at $700,000, a 1967 Ferrari P4 replica sold for $225,500, and a 2003 Chevrolet Corvette AAT Conversion sold for $55,000. The article provides details about each car, their unique features, and their sale prices.
Auctions made in halls, complete with buyers and bids, have an engaging drama about them that is one of the hallmarks of their success. And it should be said that just like a good thriller, you never know who won or who lost until the very end.
So, what better place than Las Vegas to organize an auction, in the city of pleasure (and sin) as well as some truly legendary plot twists? Here Mecum tried its luck by bringing, as usual, a large number of cars of every type and nature, 398 of them to be precise. The result was 281 cars (70.6%) sold, which brought in $12.5 million – the auction house does not estimate the cars before auction even though many cars had reserve prices. A considerable success considering that Mecum has steadily increased the sales percentages of its auctions in recent months, previously it was between 50% and 60%. I can make two hypotheses here: the first is that many collectors don’t like their cars being offered online. Those like Mecum, who put on live auctions, find more sellers and, as a result, can bargain for better reserves. The second hypothesis is that buyers find the challenge of a live room simply more satisfying. A game that finds its natural in Las Vegas.
In Las Vegas, everything is eccentric and full of glitter, and that’s why we decided to point out four truly eccentric cars.
