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Mecum Closes In On $50 Million With Shelby Cobras Leading The Way At Indy

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Published
05/24/2016 by

Dana Mecum’s 29th annual Original Spring Classic auction held May 17-21 saw 1,567 vehicles cross the auction block with 1,094 hammering sold for a 70-percent sell-through rate and $48,873,590 in total sales. With post-auction sales continuing to close through Mecum’s “Bid Goes On…” program, final totals for one of the world’s most renowned muscle car auctions will likely exceed $50 million when all is said and done. Top sales for the Indianapolis-based event were crowned by two ‘60s-era Shelby Cobra Roadsters, each proving its worth to be in excess of $1 million.

With more than a dozen private collection offerings, most of which were dominated by classic muscle cars, the excitement leading up to the auction was immense, and attendees were not disappointed. Friday, May 20 saw the headlining Joe McMurrey Collection of 17 cars cross the auction block and each and every one hammer sold for a total of $3,412,000. Three of McMurrey’s cars landed in the auction’s top 10 sales with his 1967 Shelby Cobra (Lot F124) commanding the highest hammer price of all five auction days at $1,100,000. His two Shelby GT350 Fastbacks also commanded serious coin with his ’65 (Lot F125) gaveling at $500,000 and his ’67 (Lot F127) at $285,000.

Keeping with the Shelby-themed top sales, the 1964 Shelby 289 Cobra Roadster (Lot F163) that crossed the auction block just a bit later that day also commanded seven figures with a final bid of $1 million.

“With an increase of more than 20 percent in car sales from last year’s event, this was another undeniably successful auction for Mecum, and a great testament to this year’s continued growth and strong momentum,” says Consignment Director Frank Mecum. “It’s wild to imagine that this auction started some 29 years ago with a fraction of the cars, and here we stand today, knocking down $50 million.”

The complete top 10 sales at the Mecum 2016 Indianapolis auction include (all individual sales reflect hammer prices):

  1. 1967 Shelby 427 Cobra Roadster (Lot F124) at $1,100,000
  2. 1964 Shelby 289 Cobra Roadster (Lot F163) at $1,000,000
  3. 1965 Shelby GT350 Fastback (Lot F125) at $500,000
  4. 1970 Plymouth Hemi Cuda (Lot S129) at $425,000
  5. 1972 Ferrari Dino GT (Lot F243) at $310,000
  6. 1967 Shelby GT350 Fastback (Lot F127) at $285,000
  7. 1969 Ford Mustang Boss 429 Fastback (Lot F117) at $260,000
  8. 1969 Chevrolet Yenko Camaro (Lot S200) at $260,000
  9. 1970 Ford Mustang Boss 429 Fastback (Lot S108) at $240,000
  10. 1969 Chevrolet Yenko Camaro (Lot S154) at $225,000

For access to complete auction results and other member benefits, join Mecum’s free InfoNet service offered at Mecum.com. Mecum Auctions’ next collector car auction will be at the Portland Expo Center in Portland, Ore., for the company’s inaugural event in that area. The June 17-18 auction is expected to feature 600 vehicles and more than 100 items of Road Art and memorabilia.

For more information on an upcoming auction or to register as a bidder, visit Mecum.com or call (262) 275-5050. Mecum.com is updated daily with the latest consignments including detailed descriptions and photographs of the vehicles and more to be offered at upcoming auctions.

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