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Corvette Prices Remain Strong At Mecum Kissimmee 2011

Momentum from the Arizona Auctions Carries Over in the Southeast

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1967 Corvette 427

This unrestored survivor 1967 Corvette 427/400 brought $96,000 at Mecum's 2011 Kissimmee auction in January.

Photo courtesy of Mecum Auctions

Just a week after the annual Arizona Auction frenzy, 229 Corvettes crossed the block at the Mecum auction in Kissimmee, Florida.

Top money of $170,000 went for a beautifully restored 1955 Roadster. Sports Car Digest has this one covered, along with the 1968 L88 Convertible that sold for $165,000. A 1967 Convertible brought 145,000. Several other cars went upwards of $100,000 - all C1 or C2 models.

At the high end, a seller walked away from $150,000 for the second 1955 Corvette off the line. Maybe that's a savvy move in a rising economy and we'll see that car again on the auction circuit later this year.

In my opinion, the buy of the auction was $96,000 for a 1967 427/400 coupe - officially classed as an unrestored survivor, this Corvette was well worth buying. A second Corvette also brought the same amount - a 1961 resto-mod featuring a 350 cubic inch engine and 5-speed transmission. The '61 is a beautiful candy-apple red color, but the anachronistic wheels and hood scoop spoil what could be a nicely updated classic. Luckily, those are both easily fixed.

At the low end, several cars sold for less than $10,000, and dozens sold for less than $20,000, so there are still bargains to be had on the auction circuit. Over 60 cars failed to sell at all, and those were distributed throughout the price range. With reserve price auctions, it's always hard to know who is insisting on a reasonable price and who's just fishing for a current valuation.

You can see the full results of the Mecum Kissimmee auction at Mecum's website.

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