The Spectacle Successes of Dana Mecum’s Auctions Renewed in Indianapolis
24 May 2025 4 min read 12 images
Photo credit: Mecum
Every auction house has its own style and marketing. Among the most common tools is the live streaming of auctions to attract viewers and convey the many nuances of this kind of sale. Dana Mecum was the first to grasp the potential of television both for communication and for gathering potential clients. What does this mean? Quite simply, turning every Mecum auction (there are roughly 14 a year) into a live television spectacle. By the end of the first decade of this century, the channel used had become Motor Trend. To clarify: those watching TV see the auction live, but they cannot interact or buy. The goal is to attract interest and promote the next auction. Those who are intrigued will then attend in person — and in a fair number of cases — buy. To get an idea of the impact of these live broadcasts, think of numbers comparable to major sporting events. Television was a lifeline for Mecum, as founder Dana Mecum stated a few years ago. This sale marked the debut on ESPN+, but clients adapted quickly, and the numbers prove it.
There was a slight drop in the number of cars offered (from 2,390 to 2,268), with the sale percentage rising from 71.42% to 72.71%. After eight days of sales (nine, if we include the Monday dedicated to automobilia), the cars that changed hands numbered 1,649 compared to 1,707 in 2024. However, the total revenue increased by 4.7%: from $94.4 million in 2024 to $98,903,445. The average price thus rose significantly, going from $55,304 to $59,978.
Let’s now take a look at what happened on the automotive front during the Mecum auction in Indianapolis from May 9 to 17.
In a sea of American cars, the podium was entirely European. The most expensive car at the auction was a 2014 Ferrari LaFerrari with 4,391 miles. The first hybrid model from the prancing horse, finished in red with black interior, had no special accessories or celebrity owners — making it the perfect sample for market observation. Over the last two years, prices have ranged from $3,690,000 to $4,675,000, so the Mecum example at $3,850,000 was right within range. However, considering that none of the other examples exceeded 2,600 miles, this one — having almost double the mileage — shouldn’t have fetched that amount. Unless prices are on the rise — and that’s exactly the case. The LaFerrari is in demand.
The second most expensive car was the 2015 Bugatti Veyron Grand Sport Vitesse. Of the 150 examples produced, this one — black with orange interior — might be unique, with very low mileage (2,280 miles). As the first car to exceed 1,000 bhp, its value began to rise in the late 2010s, marking the trend of cars born to be collectibles. Sold at $2,640,000, it is the second most expensive Veyron ever sold at auction.
Third place goes to the red Ferrari 812 Competizione with black interior, a single owner, and just 51 miles. Equipped with the Ferrari Classiche Yellow Book, which certifies originality for the brand’s younger cars (less than 20 years old). So is a 2023 car already considered "Classiche"? The market seems to say yes, as it was sold for $1,540,000 — well above list price but below the $1,650,000 paid in April for a 88-mile example.
The major stumbling block for the U.S. market came from the 1965 Ford GT/109 Competition Prototype Roadster. A very important car, only five were made, and this was the only one to race at the 24 Hours of Le Mans in 1965 (with Trintignant and Ligier). Returned to the factory, it was used to develop the J-Cars — the MkIV, so-called because the chassis numbers began with “J”. It was sold in 1968 and is now owned by Dana Mecum. The company president first attempted to sell it in 2020, during the Covid year, and although the $7.5–10 million estimate was met at the low end, the car did not change hands. It’s hard to say why. Five years later, it seemed like the perfect moment, but despite a $7,750,000 bid, again no deal was made.
Ford has done it again at a lower level: the Mustang Boss Fastback is one of the most collected Fords ever, especially with the more powerful 429 engine, for comparison we can say it was the Shelby GT500 of the 1970s. In addition, only 13 were made in Calypso Coral with a white interior, but only five have survived to the present day. The catalogue described it as “the pinnacle of Mustang Bosses”. The auction price was $627,000, exceeding the $605,000 paid for the previous record.
Returning to European glamour, a recently professionally restored BMW 2002 Turbo, with its iconic livery (white with red/blue/purple stripe), was a covetable piece. Consider that the model's prices had recently dropped, but at $181,500, it set a new world record for a physical auction. Definitely a nice sign of vitality.
In January 2024, one of the 100 fifth-generation Cadillac DeVille Convertibles hit the market, selling for $65,000 when the most expensive of that series had never exceeded $35,000. A second DeVille Convertible from 1979 sold at Mecum in March 2025 for $90,200. The same car returned to auction just a couple of months later and this time set its third record at $99,000. Six-figure territory next?
An interesting comparison came from two Pontiac Fieros. When people hear the name, they often think of just one thing: replicas. These cars were often used to build fake Ferraris! Offered on the first day of the auction was a 1988 Pontiac Fiero GT, completely original. It received bids up to $19,000, but they were rejected. While the odometer showed 2,910 miles, there was no documentation to confirm it.
On Thursday, a Pontiac Fiero disguised as a Ferrari 308 GTS appeared. While it was reasonably well done, a closer look revealed proportion differences. It sold for $15,400, offer accepted.
Clearly, this sale also had some bargains. Here are two classics as examples. The first is a 1962 Chevrolet Corvette Convertible. Equipped with the high-performance 327, it was one of the last C1s (with hardtop and automatic transmission). Red with black sport seats, it was a beautiful car to drive — all for just $38,500.
On the other side of the Atlantic, a beautiful Jaguar E-Type made its appearance. A first series, with the 3.8 engine, and in the now-coveted fixed head coupe version. It’s true that extensive work was needed to bring it back to life — starting with the interior and the likely non-functioning engine — but at $23,650, the math still works.
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