Mecum in Kissimmee says the wind hasn’t changed
20 January 2024 3 min read 11 images
Photo credit: Mecum
Cliff Goodall’s view
Some 2,842 enthusiasts treated themselves to a new collector’s car in Kissimmee, Florida, as a New Year’s gift. The sale organized by Mecum lasted a full 12 days, from 2nd to the 14th January, offering 4,043 cars, with 70% sold for a final turnover of $226,348,600 and an average price that increased from $76,154 to $79,644. Despite a slight decrease in total turnover compared to 2023, the final figures aren’t in yet, as post-auction sales, a now customary practice, are expected to boost these numbers further.
Given the grand scale of this auction, our coverage will match its extravagance. In addition to this week, I will return to discuss it next week as well. And breaking with tradition, I’ve selected ten cars to highlight instead of the usual eight, because as you’ll see, it is worth it.
Let’s begin with the highlights from our preview two weeks ago: Mecum in Kissimmee has yet to surpass the eight million dollar mark for a single car sale. So, it was quite surprising to find three very valuable Ferraris in the catalogue: the first was a 1967 silver 275 GTS/4 Nart Spider, the ninth of just 10 produced. Then, the 1964 Ferrari 275 GTB LM Competition (sold in 2015 for $26.4 million) and finally, the last ever made 1963 Ferrari 250 GT SWB California Spider, in red.
The outcome? The 275 GTS/4 Nart Spider and the 275 GTB LM Competition failed to sell, stalling at $23.5 million and $23 million respectively. The 250 GT SWB California Spider, however, fetched $17.875 million – a staggering figure in my opinion, though not quite reaching the $18.045 million record set by Gooding last year (the current world record). However, we are in an area where a few pennies here and there do not make a difference. Is this the end for the first two? We’ll have to see what next week’s post-auction brings…
Among the noteworthy lots was the 1966 Ford GT40 MkI. Of the 30 original GT40 Road Cars ever produced, this was perhaps the cream of the crop, having once belonged to the race driver Umberto Maglioli. It had 13,442 accident-free miles on the clock and was factory-fitted with competition accessories from the outset. Previous ownership for nearly 30 years and unseen by the public during that time, it was restored by RUF Automobiles and certified by marque expert Ronnie Spain. What more could a collector ask for? The current record for a road version was around $4,000,000, but for this particular example, I had already predicted a higher figure, and higher it was: sold for $6,930,000.
The last of these stories, which is both enlightening and cautionary, is that of the Duesenberg Model J LaGrande Blind Quarter Brougham, a car that has only seen defeats in the last year and a half: unsold twice in Monterey, at $1,100,000 in 2022 and $800,000 in 2023, and likewise remaining unsold in Kissimmee 2023 at $900,000 and Indianapolis at $850,000. With its price estimate reduced to $750,000 - $900,000, one might have expected a sale, yet the market responded once again with an emphatic “NO”, as it stalled at $675,000. The question arises: if the owner isn’t in urgent need of funds, perhaps it would be wiser to let the car ‘rest’ for a few years rather than subjecting it to the uncertainty of a ‘no-reserve’ auction that could cause one or two sleepless nights?
Moving on from my previews, let’s now turn our attention to a different Ferrari, the Enzo. A rare find at auctions, with just four appearing in 2023. This particular grey model is one of an exclusive set of six out of a 400 production run, one of which was designated for Pope John Paul II and auctioned for charity in 2015, fetching over $6 million. However, the record for a ‘standard’ Enzo was held by chassis 136089, sold in August 2022 for $4.130 million. Why am I mentioning the chassis? Because it’s the same one from Kissimmee, now with an additional 15 miles on the clock (from 2,730 to 2,745) and in the same pristine condition. The price? It practically sold itself: $4.510 million, setting a new record of course.
I was very curious to see how the 1948 Tucker 48 Saloon would fare. This car made history for its role in Francis Ford Coppola’s 1988 movie “Tucker: The Man and His Dream”, but scandals aside, the 51 Tuckers produced are highly coveted by collectors. However, cars from the ‘40s and ‘50s have been out of the limelight for a while, and this model had been absent from the scene for the past four years. With previous sales hovering between $1.6 and $2 million (the record was $2.040 million), what could this black example (one of four) with 35,000 miles on the clock achieve? Any doubts were quickly dispelled: the legend of this car remains unchanged: sold for $1.870 million, securing its place as the third most expensive Tucker to date.
The 1970 Plymouth Hemi Cuda Convertible, a rarity with only 14 ever produced, had been absent from the market for quite some time. With eight having been auctioned between 2006 and 2016, there were no recent sales to compare it with. The record sale was in 2014 at $3.780 million, with the lowest fetching $1.320 million, and the most recent at $1.980 million. This sale proved that the price hasn’t moved much, which might be a good sign, and it changed hands for $2.145 million.
Turning to timeless legends, let’s talk about the Corvettes: the eight series are incredibly diverse and even within the same series, the values can vary greatly. Typically, the value of the first series (C1) Corvettes decreases over time: the 1953 models are valued much higher than those from 1962. However, Mecum’s result was extraordinary. Setting aside an anomaly last year that reached $572,000, no 1962 C1 had ever gone beyond $308,000. But the Kissimmee offer was in stunning condition: never restored (in 60 years only the battery had been replaced!), just 12,000 miles on the clock and a trophy list for its condition enviable by any standard. As the auction hammer dropped at $456,500, it was clear that what might have once been considered a fluke is shaping up to be the new norm for these vintage treasures.
The sale that surprised me the most? The Buick Riviera Gran Sport. Produced for just one year (1965), it is the typical long-distance touring coupe that doesn’t quite stir the hearts of collectors. The engine is a mighty 425ci V8 (about 7 litres) producing 360 hp. It wasn’t the young enthusiasts’ dream back then, but rather the established professional’s ride of choice. Now, some numbers: in 2022, one model set a record of $165,000, and the highest price last year was $132,000. Mecum presented a flawlessly restored example but few would have imagined that it would nearly double the previous record: sold for $302,500.
And with that, the first chapter of my journey in Florida comes to a close. Next week we’ll look at more modest budgets without skimping on the excitement, as we search for great deals in the fantastic world of affordable cars. Stay tuned!
SUPERMIND TRIVIA