The 2017 auctions have already seen record sales volumes. Mecum Las Vegas Vintage Motorcycle Auction had astounding results! A 65% higher selling rate than that of last year’s sale. Hard to imagine a motorcycle built at the turn of the last century selling for Over $400,000! And they said, “It might not even Run?”. Needless to say, interest is very high in many types of collectibles. Why not buy/invest in one you can drive? We think it makes sense. American Muscle Cars are continuing to be a strong draw both here in the US and overseas. Buying classic vehicles is not unlike purchasing real estate: buy the best possible one that you can afford because some day, it too will be for sale.
Maybe one of the most impressive offerings in January was at the Barrett-Jackson Sale. If you are active at all in the Corvette hobby, the name Chip Miller is familiar to you. He founded the Carlisle Events in Carlisle, PA and those events still carry on annually with great interest in all phases of the automotive world enthusiast. Chip passed away years ago, but his legend lives on.
One of Chip’s beautiful Corvettes, a 1962 Honduras Maroon/black 327/340 hp with both tops, graced the auction stage Friday evening. This was (in my opinion) one of the best examples known to exist. Besides the fact the Corvette has achieved many top National Awards, it has done all this without the benefit of ever being subject to a complete restoration! Yes, unrestored, original paint! Some lucky buyer took it home for the fair price of $150,000.
Speaking of another lost soul. All of us involved in this industry are highly familiar with the name Noland Adams. He left this earth last month as well. His authorship of many well-known Corvette books are still referred to on a daily basis was guides to complete and accurate restorations of Classic Corvettes.
Still to come in the month of February is the Leake Auction next weekend in Oklahoma City. A brand new building and an exciting offering of Classic Cars will be offered up “No Reserve” by their owners. We think is shows a real confidence in those buyers who attend.
2017 is the time to invest in the classic you have always wanted, and with all the fair prices we have seen at the auctions, we encourage you to seek out your perfect classic car!
Excerpts and notes courtesy from our friend Jack at Vintage Vetts.
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