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137 Corvettes Sold For $4.8 Million At Bloomington Gold

By June 29, 2010

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A total of 303 Corvettes crossed the block this past weekend at the Bloomington Gold event in Illinois. The auction was run by Mecum, and out of those 303 Corvettes, just 137 actually changed hands. But the total dollar value of 'Vettes sold at Bloomington was $4,812,507, according to Corvette Market Magazine.

The overall top sale of the weekend was a 1956 Convertible with the 240 horsepower 283 engine, for $159,000. The top C2 (1963-1967) sale of the weekend was $103,880 for a black 1966 Convertible 427/425 horsepower with 4-speed manual transmission. The top-selling C3 was a 1968 L89 Coupe 427/435 horsepower with 4-speed manual transmission at $75,260. The best C4 was a 1993ZR1 350/405 horsepower with 6-speed manual transmission at $55,120. C5 adn C6 cars made up the smallest group, with the top sale at $54,590 for a 2001custom 350 horsepower 'Vette with automatic transmission.

On the other hand, the low sale of the weekend was a gold 1984 'Vette with automatic transmission, which sold for $2,900. Several C4s sold for less than $5,000, and there were also ample bargains on C3-era 'Vettes under $10,000.

Perhaps just as interesting was what didn't sell. Sellers walked away from $170,000 for an NCRS Top Flight certified 1955 Roadster 265/195 horsepower with 3-speed manual transmission. $145,000 wasn't enough to buy a Bloomington Gold Benchmark-certified 1963 Fuel-Injected Convertible with 327/360 horsepower, and $165,000 didn't make the grade to take home an original and unrestored 1965 327/365 Convertible with a 4-speed. The top no-sale of the weekend was a bid of $210,000 for a 1967 427/400 horsepower, with a 4-speed transmission.

The take-away lesson from this auction, like most classic car auctions, is that for every car that sells for high numbers, there are many bargains to be had, and some sellers who set a high reserve and take their cars home again at the end of the weekend. One final note - many of those no-sale cars still change hands privately after the auction.

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