I heard predictions before the auction that the Daytona coupe would bid to $13 million but the press release is obtuse and doesn't give any details on who the prime bidders were , how how the bidding got or what the seller's reserve was or what auction it will be in next. Glad to hear any speculation on any of this....Anyhow I cut down their news release to the Cobra/Shelby stuff....so here it is , not a word changed except cutting off after it stops mentioning Shelby stuff.. DANA MECUM'S ORIGINAL SPRING CLASSIC AUCTION APPROACHES $40 MILLION IN SALES Indy Event is Company's Largest Auction Ever, Deals Continue with The Bid Goes On MARENGO, Ill. - Hundreds of collector cars left the Indianapolis State Fairgrounds with new owners during the 22nd Annual Mecum Original Spring Classic Auction, May 13-17, 2009, in Indianapolis, Ind. The five-day auction boasted total gross sales (including buyer's premium) approaching $40 million. Mecum offered more than 1,000 high-quality collector cars and 350 vintage neon signs - which have exploded in popularity and value during the past few years - to registered bidders, reporting a 70% sold rate for the Indy auction. "I think the economy is tough right now, but we're taking the position that we're going to exist above it," said President Dana Mecum. "Three years ago at the peak of the collector car hobby, we sold a best of $30 million. In the current economic climate, the team at Mecum got back to basics and worked hard for buyers and sellers to have the strongest presentation of cars and registered bidders we've ever organized. The Mecum employees deserve all the credit for their wonderful customer service, energy and dedication at the auction." Mecum estimates final sales for the Spring Classic Auction will reach $40 million with The Bid Goes On purchases. When cars don't sell on the auction block at a reserve auction, Mecum continues to market those vehicles through its program The Bid Goes On, which has successfully sold 35 cars for $2.5 million in sales from the Indy event with additional deals pending. The legendary 1965 Shelby Daytona Cobra Coupe did not meet the reserve on the auction block, but continues to be marketed at The Bid Goes On. Serving as the centerpiece for the Indy Spring Classic, the Shelby Daytona brought great energy and many new customers to the auction. "Several interested buyers are making offers on this big-ticket racecar, which reflects the high quality of vehicles that Mecum Auction attracts," said Mecum. "In its first race the Shelby Daytona Cobra did not finish but went on to win the world championship. While it did not sell over the weekend, it will certainly finish in record form again." The Original Spring Classic's Top 10 Sales (all sales reflect hammer prices) were: 1. 1966 Shelby 427 S/C Cobra Roadster (Lot F248.1) at $1,165,000 2. 1966 Shelby Cobra 427 Ex-Tom Payne Competition Roadster (Lot F246) at $1,000,000 3. 1967 Shelby GT500 Convertible (Lot F248) at $825,000 4. 1964 Cooper Monaco King Cobra (Lot F237) at $600,000
That is barely more than the twin Paxton 427 I would have thought a car with all that racing history would have fetched a lot more, after all the twin Paxton 427 built for Shelby got $5.5 million in the winning bid and that car had no racing history. Maybe it's the recession....
