Lot # S130, a 10,800 mile Heritage Edition failed to sell yesterday. It was bid up to $240K and "the bid goes on". Prices appeared low, as a 1991 Corvette ZR1 lot # F48 sold for $12,500 before commission. Yes the C-4's have their issues but that's cheap. Lot S141, a 2016 Shelby GT350R in red with 1,200 miles was bid up to $80K and didn't sell either. Is this the new normal or are people sitting on their wallets waiting for the August auctions?
Heritage at Mecum Denver auction fails to sell
- Thread starter RickH
- Start date
twobjshelbys
GT Owner
I think two things are at play here. First, the market is really soft. The major auctions have been taking a big hit. Second, Mecum has some "major" auctions, but Denver isn't one of them. It didn't even show up on my recorder.
On the GT350R: People are trying to fund their retirement programs on flipping them, but the 2017s are out now and some are at MSRP. It'll be a hard sell to move a 2016 GT350R at 2x sticker price. That window is closing real fast.
On the GT350R: People are trying to fund their retirement programs on flipping them, but the 2017s are out now and some are at MSRP. It'll be a hard sell to move a 2016 GT350R at 2x sticker price. That window is closing real fast.
ENZO BTR
GT Owner
Looking at the Top 10 results from this sale confirms there was a limited amount of money being spent in Denver. Some good deals here, assuming the cars were in mint condition. I think the Heritage was out of the price range for the local buyers in Denver.
Top 10 sales at the Mecum Denver 2016 auction include (all individual sales reflect hammer prices):
1963 Ford Galaxie 500XL (Lot S37) at $155,000
1963 Chevrolet Corvette Split Window (Lot S128) at $140,000
1957 Chevrolet Corvette Resto Mod (Lot S98) at $135,000
1967 Chevrolet Corvette 427/400 HP Convertible (Lot S110) at $125,000
1970 Buick GSX Stage 1 (Lot S36) at $115,000
1966 Chevrolet Corvette Coupe (Lot S102) at $115,000
1967 Shelby GT500 Fastback (Lot S173) at $80,000
1986 Porsche 930 Turbo (Lot S170.1) at $80,000
1965 Chevrolet Corvette Convertible (Lot S184) at $72,000
1970 Pontiac GTO Judge (Lot S160) at $67,000
Top 10 sales at the Mecum Denver 2016 auction include (all individual sales reflect hammer prices):
1963 Ford Galaxie 500XL (Lot S37) at $155,000
1963 Chevrolet Corvette Split Window (Lot S128) at $140,000
1957 Chevrolet Corvette Resto Mod (Lot S98) at $135,000
1967 Chevrolet Corvette 427/400 HP Convertible (Lot S110) at $125,000
1970 Buick GSX Stage 1 (Lot S36) at $115,000
1966 Chevrolet Corvette Coupe (Lot S102) at $115,000
1967 Shelby GT500 Fastback (Lot S173) at $80,000
1986 Porsche 930 Turbo (Lot S170.1) at $80,000
1965 Chevrolet Corvette Convertible (Lot S184) at $72,000
1970 Pontiac GTO Judge (Lot S160) at $67,000
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