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Sports Car Market Feb 2012 Auction Review

Palm Springs, CA - May 5, 2012 - Keith McCormick's long-running Palm Springs auction has grown steadily and quietly during the past 10 years, doubling from a $3m sale to a 6.5m sale. For all three auction sessions, the house was packed to standing-room-only levels.

Collectors and dealers came from as far away as Minnesota to buy and sell under sunny skies. American high-sale honors went to a 1940 Cadillac Series 62 convertible, sold at $71,925. The car was straight, clean and intact, and considering that it could be worth $90k or more with some serious elbow grease, the buyer did well. Pickups performed strongly, continuing the established trend:

  • 1957 Ford F-100 brought $68,775
  • 1956 Chevrolet sold for $44,100
  • 1959 Chevrolet Apache went for $25,463.

A 1969 Dodge Super Bee failed to sell at a high bid of $62,500, making a 1971 Dodge Challenger the most expensive Mopar of the event. It sold for $52,500. Foreign offerings were less abundant but still performed well across the block.

A 1969 Ferrari 365 GT 2+2 was the top sale, at $105,000, eclipsed only by a 1971 Mercedes-Benz 280 SE cabriolet, bid to $140,000 but not sold.

A 1973 Jaguar XKE V12 convertible topped 28 other Jags here (mostly 1990 and newer), selling for $42,000.

Down around the four-figure realm, a 1970 Volvo P1800 coupe with needs sold quite well at $9,555, and a driver-grade 1973 Volkswagen Thing brought $10,762.

A mechanically overhauled but cosmetically tired 1969 Datsun 1600 convertible seemed a safe buy at $6,562.

Despite the notable high sales and overall growth, McCormick's target price point has held steady over the years, with the average price per car hovering just under the $20k mark. The auction remains a place where new collectors can score an entry-level muscle car without taking out a second mortgage, alongside seasoned hobbyists making careful additions to their collections.

Source: Sports Car Market June 2012 issue
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