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Mecum St. Charles Auction Reaches $10.9 Million in Sales

Against a backdrop of economic turbulence, buyers came out for quality cars

St. Charles highlights. The 1967 Chevrolet Nickey Camaro Coupe RS/SS (top) sold for $446,250. The Yates Ford neon sign sold for $18,000.

MARENGO, IL - October 10, 2008 --

The Mecum Auction at the Pheasant Run Resort in St. Charles, Illinois held October 3-5, produced strong results in the face of ongoing economic uncertainty. The market for quality cars adjusted to the situation and sellers found buyers ready to bid on some exceptional vehicles.

The total gross sales (including buyer’s premium) for the 3-day auction was $10,857,000, with 60% of consignments sold. Car sales accounted for $10,180,000 with 50% of consigned vehicles sold. Neon signs, memorabilia and petroliana generated $677,000 with 99% of those consignments sold.

Top Ten Sales (all figures include buyers’ premiums):

  1. 1963 Pontiac Catalina First “Swiss Cheese” (Lot S88) at $451,500
  2. 1967 Chevrolet Nickey Camaro Coupe RS/SS (Lot S97) at $446,250
  3. 1969 Chevrolet Yenko Camaro Coupe (Lot S173) at $250,000
  4. 1969 Dodge Charger Daytona Coupe (S108) at $173,250
  5. 1969 Dodge Charger Daytona Coupe (S122) at $150,150
  6. 1969 Chevrolet COPO Camaro Coupe (S172) at $144,375
  7. 2009 Chevrolet Corvette ZR1 Coupe (S99.1) at $137,500
  8. 1969 Shelby GT500 Convertible (S168) at $131,250
  9. 1957 Chevrolet Corvette Convertible (S150) at $115,500
  10. 1967 Chevrolet Corvette Convertible (S167) at $112,350

In addition to the car sales, neon signs did particularly well with some pieces bringing exceptionally strong prices. For example, the Dwayne McAninch Collection, including 78 neon signs, generated sales of over $570,000 with buyers’ premiums.

Another neon sign sale was particularly notable. The Yates Ford Used Car (Lot Z131) neon sign had sold previously on eBay for $7,400 in what was considered at the time as a significant price. At the St. Charles auction, where true neon sign collectors were present in person, this same sign sold for $18,700 with buyer’s premium. This demonstrated the continuing strength of live auctions in creating a vibrant market for these items.

“While the economic news leading up this auction dominated the headlines, real buyers and sellers came together this weekend and completed business,” said Dana Mecum, president of Mecum Auction. “The speculators are now out or getting out of the collector car market and those who remain are the hardworking collectors who have a long-term point of view and who understand quality and value when they see it. We also saw that the neon sign market is strong and we look forward to bringing more collections like that of Dwayne McAninch to future auctions.”

 

All Results
Full results of the St. Charles, IL auction are available HERE. Mecum auction results are available exclusively to Mecum InfoNet members.

Mecum InfoNet members may simply login to see car-by-car results by visiting the Des Moines Consignments Page HERE. Cars designated with "The Bid Goes On..." logo may still be available for sale. To place a bid, contact a Mecum sale representative by calling (815) 568-8888.

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About Mecum
The Mecum Auction Company has been specializing in the sale of collector cars, muscle cars and Corvettes for over twenty years. In spring 2008, the Company sold its fifty-thousandth car. In 2009, the company will return to HD Theater - A Discovery Company with 17 episodes of its "Mecum Auction: Muscle Cars & More" live high-definition television broadcast. Consignment, Bidder, event and accommodation information is available online at www.Mecum.com or by calling (815) 568-8888. Nobody Sells More Muscle than Mecum. Nobody.

CONTACT:
Mecum Auctions
Presentation Department
(262) 275-5050
presentation@mecumauction.com