Mecum's Bloomington Gold auction was held in July during the eponymous Corvette show in Saint Charles, Illinois. Despite a sluggish economy, this year's event proved a great place to shop for investment-grade Vettes as well as drivers from every generation. It also provided buyers and sellers with a good opportunity to gauge the current state of the market.
The show's highest individual sale was $410,000 for a rare '71 ZR2 LS6 convertible. RPO ZR2 included the 425hp, aluminum-head 454; M22 four-speed transmission; heavy-duty power brakes; transistor ignition; and special springs, shocks, and front and rear sway bars. No creature comforts were available with this package, which was intended for all-out performance. This sale was the highlight event for the auction, as only 12 ZR2s were built, and only two of these were convertibles.
The other notable group of Corvettes for sale was the "Black Collection," which comprised 23 '54 to '69 cars--all black--offered by one owner. Their selling prices ranged from $41,000 for a '69 convertible to $110,000 for a '65 fuelie four-speed coupe. The total sale for all 23 cars (before commission) was a little more than $2.2 million. All of these cars were displayed near the auction tent and lined up with their hoods raised. It was an impressive sight and gave people a great opportunity to inspect a 15-year span of Corvette history.
Let's review how each generation fared as it went through the Mecum auction process. Seventy-two first-generation (1953-1962) Corvettes were available, 12 of which went unsold. (It's important to note that, thanks to Mecum's "The Bid Is Still Open" feature, all unsold cars still had a chance to find a new home after the event's close.)
The lowest price was $31,000, for a non-original yellow '62 convertible. The highest was for a beautiful, black '58 fuel-injected Corvette with rare options; it sold for $142,000.
A total of 53 second-generation (1963-1967) Corvettes were auctioned, and 23 did not sell. The lowest price was $39,000 for a '65 small-block automatic coupe, while the highest was for a Survivor '67 427/435 convertible, which sold for $132,000.
The third generation (1968-1982) provided 67 cars, of which 37 did not sell. The lowest selling price was $4,400 for a white '81 L48 coupe. The highest was $410,000 for the rare '71 ZR2 convertible mentioned earlier.
Forty-one fourth-generation (1984-1996) Corvettes were auctioned, and 20 did not sell. The lowest price was $4,100 for a red '87 convertible, while the highest was $39,000 for a '90 9RG coupe with 371 miles on its clock.
Only 25 fifth-generation (1997-2004) Corvettes were auctioned, and 19 did not sell. The lowest selling price was $11,500 for a red '00 coupe, and the highest was $62,000 for a '98 convertible that had been converted into a 50th Anniversary clone.
Finally, 22 sixth-generation (2005-2011) Corvettes were available; 15 went unsold. The lowest price was $25,750 for a silver '05 six-speed coupe, while the highest was $80,000 for a white '10 Callaway SC606 Grand Sport convertible.
For more information on Mecum's upcoming auctions, visit www.mecum.com. The website enables you to check current selling prices for your favorite-generation Corvette. Who knows? Maybe you'll get auction fever and put in a bid for your dream ride!
01 The "Black Collection,"...
01 The "Black Collection," which featured 23 black Corvettes from a private collection, ranged from 1954 to 1969. They were all sold, bringing more than $2.2 million.
02 Le Hakola stands by his...
02 Le Hakola stands by his '55, which had been in storage since 1966. Hakola's family purchased the car in 1964 from its original owner, and it shows only 49,569 miles. It even still runs! The high bid was $62,000, which didn't meet the reserve.
03 Hakola's was the 29th...
03 Hakola's was the 29th Corvette produced in 1955, and one of only 15 built with Corvette Copper paint. Notice the large school bell mounted on the left inner fender panel. The original owner reportedly would ring this bell to announce his presence when he entered town.
04 This Cascade Green '57...
04 This Cascade Green '57 fuelie was the 10th of 20 pilot cars built for testing in August 1956. Writer Tom McCahill road tested this car for the Dec. '56 issue of Mechanix Illustrated. Note that it is not fitted with "Fuel Injected" insignias.
05 J&M Enterprises completed...
05 J&M Enterprises completed a frame-off restoration on this significant Corvette in 2009, and it has won numerous awards since then. The car, which is equipped with the third FI unit ever built, was bid to $250,000 but did not meet its reserve.
06 This beautiful '63 327/360...
06 This beautiful '63 327/360 fuelie was part of the Black Collection. It showed only 24 miles on its clock since its complete restoration.
07 The split-window's factory...
07 The split-window's factory Red interior really stands out against the Tuxedo Black exterior paint. This stunning car sold for $70,000.
08 Bloomington Gold founder...
08 Bloomington Gold founder David Burroughs performed a five-year restoration on this '67. The result reflects Burroughs' insistence on historic, rather than cosmetic, perfection. The objective was to build a car that mimicked an "as delivered" production Corvette.
09 The Silver Pearl coupe...
09 The Silver Pearl coupe features an L68 427/400 Tri-Power big-block and factory air conditioning. It was bid to $170,000, which did not meet the owner's minimum.
10 This Classic White '70...
10 This Classic White '70 has covered just 51,000 miles since new. The car is fully equipped with an LS5 454/390, an automatic transmission, and both tops. It sold for $37,000 and appeared to be well bought.
11 The C08 vinyl-covered...
11 The C08 vinyl-covered hardtop was only installed on 832 Corvettes in 1970. The C50 rear-window defroster, meanwhile, was fitted to a total of 1,281 convertibles.
12 High-quality drivers were...
12 High-quality drivers were abundant. This low-mileage Polo Green '96 was in excellent shape and sold for $13,000.
13 n 1990 the Bowling Green...
13 n 1990 the Bowling Green plant built 23 R9G coupes for the Corvette Challenge series. Unfortunately, the series was cancelled, and most of these cars, including this Quasar Blue example, were never raced. The car had 371 original miles and sold for $39,000.
14 This clean, low-mileage...
14 This clean, low-mileage '04 convertible featured light modifications, including new wheels, a rear spoiler, and a custom-painted hood. It was bid to $26,000 but did not meet the owner's minimum.
15 This loaded '07 drop-top...
15 This loaded '07 drop-top was bid to $33,000 but failed to meet its reserve.