Mecum Auction - Lateral-g Forums

70rs · #1 01-09-2010, 08:25 PM

I have WAY too much TV time these days! I am watching the re run of the Mecum Auction (same one the Cobra Daytona sold at) from Indiana this spring.
It seems that every single real cobra ever produced went through that auction. And a couple of real GT40s.
But what kind of suprised me was that the Daytona coupe "only" went for 7.25 mil after it crossed the block.
I thought it would bring a lot more money than that.
Does anyone think that the venue was all wrong for that car or was that all that car is worth?

**GregWeld** · #2 01-09-2010, 10:07 PM

Typically when cars like this go for sale -- the WORLDS collectors are well aware of them "coming up".... so the "market" set the price.

**tones2SS** · #3 01-10-2010, 01:35 PM

Quote:

Originally Posted by 70rs

I have WAY too much TV time these days! I am watching the re run of the Mecum Auction (same one the Cobra Daytona sold at) from Indiana this spring.
It seems that every single real cobra ever produced went through that auction. And a couple of real GT40s.
But what kind of suprised me was that the Daytona coupe "only" went for 7.25 mil after it crossed the block.
I thought it would bring a lot more money than that.
Does anyone think that the venue was all wrong for that car or was that all that car is worth?

Hey bud, I watched the rerun of that show myself yesterday/last night! I actually like the Mecum action show.
I do agree that the Daytona coupe was in the wrong venue. (not my type of car anyways). It would probably be more at home at like Barrett Jackson or more so, Russo & Steele. BUT,... if someone has the cash, it's all the same!

hifi875 · #4 01-10-2010, 05:27 PM

poeple who know and can afford cars like that don't need barrett jackson, plus w/ no reserve it would be extremely risky

Van B · #5 01-10-2010, 05:52 PM

Quote:

Originally Posted by tones2SS

Hey bud, I watched the rerun of that show myself yesterday/last night! I actually like the Mecum action show.
I do agree that the Daytona coupe was in the wrong venue. (not my type of car anyways). It would probably be more at home at like Barrett Jackson or more so, Russo & Steele. BUT,... if someone has the cash, it's all the same!

Dana Mecum owned the Daytona coupe and used it to promote his company.

70rs · #6 01-11-2010, 06:48 PM

Quote:

Originally Posted by Van B

Dana Mecum owned the Daytona coupe and used it to promote his company.

I saw in an interview with him(Dana) that when it came up for sale that he "put together" a group of investors to cash out the seller. That amount was never mentioned in that segment, but later during the sale he had a camera right behind him when he told the high bidder he could get it for 8 mil "all in". He also said there was a bidder registered for up to ten million but that person never bid on the car.

I think that car would bring more in a different venue. I am no expert by any means, just a guess.

Van B · #7 01-11-2010, 07:50 PM

Quote:

Originally Posted by 70rs

I saw in an interview with him(Dana) that when it came up for sale that he "put together" a group of investors to cash out the seller. That amount was never mentioned in that segment, but later during the sale he had a camera right behind him when he told the high bidder he could get it for 8 mil "all in". He also said there was a bidder registered for up to ten million but that person never bid on the car.

I think that car would bring more in a different venue. I am no expert by any means, just a guess.

You may very well be right, all I was saying is that being that the owner or one of the owners of the car has his own auction company it wasn't going anywhere else to sell. I've been told that they lost money on the car, but how much promo value did Mecum get out of it? Hard to put a value on it.

70rs · #8 01-11-2010, 10:11 PM

Quote:

Originally Posted by Van B

You may very well be right, all I was saying is that being that the owner or one of the owners of the car has his own auction company it wasn't going anywhere else to sell. I've been told that they lost money on the car, but how much promo value did Mecum get out of it? Hard to put a value on it.

Good point, if there was any car that would bring the masses in that was it.

I read on the Mecum site it sold for 7.25 million after the auction. Wonder where it went or how long till it goes back on the market?
That was THE winning car, not just one of the few built. (6?, 8?)