Auction results

Blockbuster auctions highlight record Mecum event

This 2020 Ford GT drew over $1 million at the auction.

Mecum

The world may be going through some tough times right now, but you'd never know it looking at auto auction results. One of the largest, Mecum, just reported sales from the auctions it held in Arizona last week, and the results are astonishing. Mecum says it took in $66.3 million in sales, which is a big increase over the previous year's auctions. Attendance was also up, and the event was packed with high-dollar, desirable vehicles.

Mecum Arizona AuctionHow about a 1967 Ferrari for a little over $3 million?Mecum

Mecum says that private collection sales generated $20 million of the $66.3 million, as some brought dozens of vehicles to participate in the auction. The Hooked on Vettes Collection, for example, brought 13 cars and sold every one of them. It even sold a load of neon signs for well over a million dollars.

The top ten vehicles sold at auction drew big dollars. A few include:

  • 1967 Ferrari 275 GTB/4: $3,025,000
  • 1929 Duesenberg Model J Murphy Convertible Coupe: $2,365,000
  • 2005 Porsche Carrera GT: $2,200,000
  • 2020 Ford GT: $1,100,000
  • 2017 Lamborghini Aventador LP700-4 Roadster: $698,500

Mecum Arizona AuctionThere was even a Duesenberg, which sold for almost $2.4 million.Mecum

If you've got money to burn and you're sad to have missed out on the Arizona auction, your next shot will be at the end of this month when Mecum hits Houston with 1,100 vehicles. The flagship Mecum auction in Indianapolis takes place in mid-May, and will feature 3,000 cars.

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American muscle cars

Ford Mustang continues sales dominance

2021 Ford Mustang Mach 1
Photo courtesy of Ford Motor Company

Ford has good reason to be proud of the Mustang. Now almost 60 years on from its introduction, Ford continues innovating with new versions and performance upgrades. It's all good news for buyers, as it's hard to find a "bad" Mustang in Ford's current catalog. The efforts have paid off, too, as the automaker just announced that the Mustang outsold its competition for the seventh year in a row.

2020 Ford Mustang Shelby GT500 Photo courtesy of Ford Motor Company

The Mustang continued outselling the Chevrolet Camaro and Dodge Challenger, and did so without help from the Shelby GT350, which was discontinued. The Mustang Mach 1, with its 5.0-liter V8, led the charge, but Ford notes the performance of its most powerful Mustang, the Shelby GT500.

Ford says Americans are the most prolific Mustang buyers, representing 76 percent of the car's worldwide sales. Mustang sales in New Zealand grew 54 percent and Brazil saw sales climb 37.3 percent, so the car is a global effort for Ford. The automaker notes that retail orders, where a customer places an order for a car instead of shopping for one off the lot, almost doubled last year.

1969 Ford Mustang Mach 1 Photo courtesy of Ted Fontenot

The 2022 Mustang may mark the last year of the car's current generation. Spy photographers have caught next-generation cars testing in the wild, and the current-gen cars have been on sale since 2015. Ford also expanded the Mustang name in 2021 with the addition of the new electric Mustang Mach-E, which was met with huge demand and several awards from around the auto industry.

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The Z06 isn't on sale yet, but it's already raising money for charities.

Chevrolet

Just a couple years ago, the Chevrolet Corvette got a major overhaul that completely changed its design, personality, and performance. The car moved to a mid-engine layout for the first time, and its V8 produces thundering performance at a reasonable price. As it has always done with the Corvette, Chevy's laying out special editions for the car, and one of the first in the new generation will be the 2023 Corvette Z06. An early Z06 sold at a Barrett-Jackson auction this weekend to raise money for charity, and the final dollar amount crested the $1 million mark.

2023 Chevrolet Corvette Z06The car raised $1 million at the Palm Beach Auction. Chevrolet

The car crossed the block at the Palm Beach Auction, which took place on April 9. It's the first production model of the car, which builds on the mid-engine eighth-generation Corvette. It's powered by a 670-horsepower 5.5-liter flat plane-crank V8, which sends its power to the rear wheels through an eight-speed dual-clutch automatic transmission. The engine revs much higher than a standard V8 and features a distinct sound. Chevy says the Z06's engine offers the most horsepower of any naturally aspirated V8 on sale.

2023 Chevrolet Corvette Z06Rick Hendrick was the winning bidder for the car. 2023 Chevrolet Corvette Z06

The car's $1 million price tag raised money for the Thurgood Marshall College Fund. The organization supports training of educators at Historically Black Colleges and Universities (HBCU) and Predominantly Black Institutions (PBI). This auction, together with the first retail version of the car auctioned earlier this year, brings the Corvette's total charity haul to $4.6 million in 2022.

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