vjjack04

https://www.mecum.com/auctions/orlando-2022/live/

Vette5311

I watched yesterday, but not today yet. (Recorded). Prices seemed a bit soft to me. Maybe there is a market correction coming?

Dan Halen Sheetrock

I saw a lot of RNM on the C2s, but I think the way the cars are presented- so few with any legit info, its kind of a crap shoot unless you/someone can be there in person to inspect thoroughly. Some auctions say "matching numbers", others say date code correct motor... both of those descriptions fall short of really explaining the car.

Saw a nice looking Sebring 63 FI coupe, $225? RNM... If that car was 100% legit born with motor/FI, tags legit and the car wasn't cobbled together, the price does seem soft. But since the bids only went that high- I think I have to assume some part of that car didnt meet the criteria for those who will buy a legit, original one. Maybe? Not saying that's cheap, but definitely seems under what we've been seeing lately?

AOS_L79

Considering only a small fraction of the auction makes it to tv, the number of bid goes on cars that they showed makes me wonder how many others didn't sell either. Looked like soft prices for everything but the customs.

Thaxx

Soft is being kind.
70% of cars that had a reserve price did NOT sale.
All cars. Not just Vettes

curvesman

Sign of times

SeeYah

I didn't watch the video yet but I did review the website and saw that only roughly 55% of the cars (including no-reserve) on Friday and Saturday sold and the prices on many cars were soft. The Orlando auction didn't have a lot of 6 figure/higher dollar cars but rather mostly a bunch of driver quality cars. I'm not sure whether I see it as an overall market correction though. Mecum changed their gold bidder program at the end of last year where instead of paying $500 for the year, it is now $500 per auction. That may not alter the habits of those bidders that are buying 6-7 figure cars but it does affect the lower end buyers. The cost of attending an auction with increases in the price of gas, airfare, rental cars, hotels, and food also has an effect on the lower end buyer. I used to attend about 6-7 auctions a year on the gold bidder membership, sometimes with no real intention of buying a car but what the hell, I'm retired, I've got time to go and the wife tells me to go and enjoy myself. Now I may only opt to go to 3 a year. (Sometimes, even though I didn't intend to buy a car, one followed me home.) While watching the Tulsa auction last month which was the same class of cars as Orlando, the number of people in the audience was way down. Mecum was advertising bidder registration discounts on Facebook for the Orlando auction. Their bidder registration numbers must have been way down. Lower bidder registration numbers will always translate into less bidding volume and more RNM/no sales. I'm thinking that 6-7 figure cars will probably be fine but the lower end will suffer for the short term.

Vette5311

wow,
that’s (70%) a big number of pass through!

Dan Halen Sheetrock

@ See Yah,
thanks for your informed input, learned some good info to temper my take on what I see for this particular auction.
I too was looking at their site for my info.
wow, mecum charges you coming, going, buying, selling and any other way..

I agree that there weren’t a lot of standout mid years, aside from that 63 FI coupe- but who knows if that car was even an FI from factory, motor was original, etc etc etc. All seem hyper important on the big ticket, rare ones.

jwindarwin

Maybe it’s just me but seems Mecham is running the collector car auction business into the ground.
I mean they were in Kissimmee in January, back in Orlando currently plus all the other auctions every couple weeks. Appears greed may be at play here. Not much interested in watching this play out anymore. Maybe buyers getting bored too, reflected in the low prices?? Just a thought..,,,