Mecum in California: The banks didn’t spook, but...

Despite the recent bankruptcies and banking risks, the Mecum auction in Glendale seemed unaffected by the cold wind blowing across the market. Looking at the numbers, there doesn’t seem to be any significant cause for concern: there were 1,399 cars at the auction compared to 1,259 last year, with 1,023 sold in 2023 vs 925 in 2022, and a stable success rate of 73%, identical to that achieved 12 months ago. Despite the recent bankruptcies and banking risks, the Mecum auction in Glendale seemed unaffected by the cold wind blowing across the market. Looking at the numbers, there doesn’t seem to be any significant cause for concern: there were 1,399 cars at the auction compared to 1,259 last year, with 1,023 sold in 2023 vs 925 in 2022, and a stable success rate of 73%, identical to that achieved 12 months ago.