Muscle Car Movement Far From Dead - Mecum Auction Fetches $300,000 for Hemi Under Glass

by Andrea L. Algar

Just as Mopar celebrates 50 years of the 426 Hemi engine, and the great Plymouth Barracuda of the mid to late 1960's, I've heard grumbles of concern that the recent muscle car comeback may be waning. Could the movement be backtracking once again?

It certainly would not seem to be the case after reviewing the results of this weekends Mecum Auction where Barracudas reined supreme!  One of the cars drawing great interest was one I wrote about in a November article where Guy Algar of Motorheads Performance was surprised when Mopar's four car collection known as the "Hemi Under Glass" funny cars failed to meet reserve.

The seller, collector Bill Sefton, was determined to sell the wheelstanding Mopars he had acquired after restoration at the right price. Following the prior failure to meet reserve on all four cars as a bundle, Saturday's sale of the "crown jewel" of the four cars, a 1967 Barracuda, sold for $300,000 on it's own. This, many industry followers believe, will pave the road for good auction prices on the remaining three cars which will be sold individually as well.

The Mecum Auction this past weekend was considered successful, and another Mopar making into the top 10 included a 1971 Plymouth Hemi "Cuda" which sold for a whopping $560,000 ...UNRESTORED! Granted, it had a numbers-matching drivetrain, and the mileage was an almost unbelievable 33,000 miles, but for an unrestored car to grab such a great selling price at auction would seem to indicate that muscle car buyers are still willing to shell out top dollars for the right car.

RESOURCES FOR MORE INFORMATION:
Hemmings - Original Hemi Under Glass Plymouth Barracuda sells for $300,000
Classic Car News - Recent Classic Car Auction Yields Disappointing Results - Is it a sign of trouble?

Recent Classic Car Auction Yields Disappointing Results - Is it a sign of trouble?

I've always been a fan of the classic Corvette Stingray. There's just something about the lines of the car that are so artistic. So, when I heard of an upcoming auction that was featuring a well-known 1963 Corvette, I was ready to follow it. Of course, it didn't hurt that there were also a collection of world-famous funny cars that were part of the same auction.

Harley Earl's Personal
1963 Corvette Stingray Convertible

 Last month Velocity TV covered Mecum's Windy City auction. One of the main draws was to see one of the crown jewels of Corvettes come across the auction block. Mecum offered up almost a thousand cars. Only 64% of the cars were sold.  Some blame the weather as having an effect on both the crowd and the bidding, which was very low.

High sale of the auction was Harley Earl's, known as the father of the Corvette, personal, one-of-a-kind, 1963 Corvette Stingray convertible which experts say should clearly have sold for more than the $1.5 million. Another sign that the bidding just was not as aggressive as in years past. This has some worried over why one of the most sought-after Corvettes in history (noted as one of the five "Crown Jewels") did so poorly in comparison to other recent auctions, such as the 1967 L88 Corvette which sold for $3.2 million at  Mecum’s Dallas auction. 

1967 Corvette sold for $3.2M

Another surprise of the auction was when the “Hemi Under Glass” Mopar funny cars, famous for their “wheelies”,  failed to meet the reserve. In fact,  the seller's expectations were so shattered that the four car collection will be broken up and sold individually in Kissimmee, Florida, in January. Guy Algar remarked, "It was a big surprise when a set of true collector cars with such an incredible, documented history did not meet reserve. And this with an auction company that usually sets all sorts of records." Does this mark a slow-down in the industry? 

While some insiders show signs of worry, others simply pass this off as one of those things that can happen at an auction when the attendees just don't get hyped up and excited. Some note the fact that most of the bidding occurred from phone-in bidders, and the lack of enthusiasm from the crowd, probably had a lot to do with the surprisingly poor results. There are many more auctions to come, and it'll be interesting to see whether this was indeed a "fluke" or if this is a new and disturbing trend in classic car and muscle car collecting.

ABOUT THE AUTHOR: 

Andrea L. Algar is co-owner of a classic car performance and restoration design shop in Leesville, Texas. Motorheads Performance specializes in repairs, maintenance, performance upgrades and restorative work on cars and trucks from the 1920’s through 1970’s. Her husband Guy L. Algar is a Mechanical Engineer with over 25 years experience. He holds 5 ASE Certifications from the National Institute for Automotive Service Excellence and has been working on old cars and trucks for over 37 years. Together they share their passion for old cars and trucks with other enthusiasts from around the country.

More Classic Cars Stolen During Famous Monterey Week

More news that makes enjoying going to a good car show difficult as we get news of a stolen classic car. And, to make matters even worse, not just one car, but a total of four cars went missing during Monterey Week in California the weekend of August 17th.

Autoblog.com reported, "According to Hemmings, an extremely rare '61 Impala SS 409, a '61 Impala resto-mod and a one-owner, unrestored '57 Bel Air all went missing after failing to sell at various auctions. The article states that the Impala SS 409 – worth an estimated $220,000 – disappeared from the Russo and Steele auction, while the other two cars vanished from the Mecum auction. In addition to these thefts, Jalopnik is reporting that a customized 1962 Corvette was also stolen around the same time only instead of being stolen from an auction, this classic 'Vette was snatched up as the owner was enjoying dinner. Hemmings points out that the cars were most likely targeted to be stripped for parts, but check out both reports and keep an eye out for these beautiful rides."

We are disheartened by the continuing rash of thefts. It is terrible news to learn that a beautiful classic car met its end in a chop shop where it had been taken apart and sold off in pieces for a fraction of the money it took to have it restored.