Shelby Daytona Coupe a $6.8 million no-sale at Mecum auction
Click above for a high-res gallery of the Shelby Daytona Coupe CSX2601
There was plenty of hype leading up to Mecum's Spring Classic Auction this weekend, and rightfully so. Up for grabs was the 1965 Shelby Daytona Coup -- one of six ever made -- that clinched the FIA World Championship. Bidding was expected to reach into eight figures, with the potential to break several records for cars sold at auctions.
In a packed house filled with excited bidders and spectators, the Daytona Coupe finally crossed the block last night. Bidding started at a respectable $4 million, quickly went to $5 million, $5.5, and then $6.5. Then bidding slowed, eventually stalling out at $6.8 million. An astronomical sum of money, but not enough to reach the reserve price. With no one willing to bid higher, the Daytona Coupe rolled away unsold. However, Dana Mecum was confident that the car would eventually sell, saying "I'll think we'll get a deal done by the end of the weekend," but unfortunately no auction records were broken.
Several other notable Shelbys were no-sales as well, including a 1964 Cobra 289 competition model that reached $1.3 million, a 1963 Cobra 289 with a high bid of $525,000, and a 1966 Cobra 427 S/C that also hit the $1.3 million mark without finding a new buyer. The top sale of the auction was a 1966 Ford GT40 that went for a gavel price of $2,300,000.
Edit - we've been informed that the 1966 Cobra 427 S/C sold for $1.165 million as part of the Mecum Bid Goes On on Friday after the car went off the block.
[Source: Discovery HD]
Get a WordPress.com Blog
Reader Comments (Page 1 of 2)
tjon 7:17PM (5/16/2009)
credit crunched
Reply
Tony 7:20PM (5/16/2009)
People are still greedy and I hope that this signals the end of classic car speculation that has taken the cars out of enthusiasts hands. I really hope that a number of rich speculators get burned badly much as they did when Enzo Ferrari died and his cars reached astronomical amounts, then crashed.
Reply
pmalik 7:26PM (5/16/2009)
I never understood the point of these auctions, all the cars always go for astronomical sums (even "run of the mill" restored muscle cars etc.) It virtually guaranteed that as a buyer you won't get a good deal on anything - i mean frame off restored Camaro for 100K... you might as well have one restored yourself for less.
Reply
P Zero 7:35PM (5/16/2009)
Obviously you don't pay much attention to these auctions, because many of the cars either go for less than the estimate or are a no sale.
nexus 7:45PM (5/16/2009)
Where is this being held? Dubai?
Reply
Tai 7:52PM (5/16/2009)
Can't believe it didn't go any higher. Didn't people notice it comes with a spare tire as well?
Reply
Tom Winch 8:44PM (5/16/2009)
Good one! I thought the same thing, how many race cars come with a spare tire in the back?
the vegas style guy 8:29PM (5/16/2009)
THIS IS DISGUSTING.
Nero, get your fiddle.
Reply
Foose1397 9:57PM (5/16/2009)
It looks like a lot of people don't get the point of auctions.
Yes you can restore a Camaro but good luck finding a matching numbers ss or a genuine yanko for really cheap. These cars are investments. Rolling art is the best way to think of it. The only ones that sell for high is the rare ones.
6.8 mill isn't bad, there is no set price for this car so the owner/drive was almost being greedy....the reserve was set at 8 or 10 mil, way to high
Reply
pmiddle5 5:05AM (5/17/2009)
Cars are made to be driven not wiped with a diaper and hid from anyone but someone who mainly has it to make money off of said purchase.
artso06 5:48PM (5/17/2009)
I completely agree with you. However cars like this can't be drivin on the street and very few can actually drive them. And if you have 6.8 mil to dump on a car you don't think he has other less expensive ones to drive?????
Tim 10:37PM (5/16/2009)
I watched it, and it was fairly embarrassing given all the hype.
The head guy Dana complained afterward that someone had come with a 10 million credit line but never even bid on the car.
There were some spectacular cars on the stage, which is why I watch. The hosts are pretty much a joke, but watching it in HD is nice.
Reply
tankd0g 12:41AM (5/17/2009)
For that kind of money you could built a fleet of precise replicas so oyu could crash one every weekend.
Reply
Justin 12:47AM (5/17/2009)
I was actually there while the car was being sold (I work for GreenLight Collectibles and we had a booth there) and the hype was insane for this car. I tried to get photos for future reference if needed, and it was near impossible to get anywhere close to it as it rolled through the line and up to the block because there where just so many people around it. It even had a Sheriff escort so naturally I was pretty excited to see what kind of money it would bring and was shocked to see it hit 6.8 million. I was however even more shocked to see that that wasn't even good enough for the reserve. Personally Im not a fan of the whole reserve thing and I think it takes alot of excitement out of the auctions.
By the way its held in Indianapolis not Dubai but with the prices thats an easy guess haha.
Reply
Kattleox 1:18AM (5/17/2009)
Well, I think its too bad. If any car deserves to be seven million dollars, its the Daytona Coupe.
Reply
CrabbyAppleton 2:51AM (5/17/2009)
Tom Winch - because you are young you are excused - back in the day in order to meet the rules for LeMans sports car racing, all cars had to carry a spare and a suitcase of a specific dimension in the trunk or luggage area. If you look at an FIA Cobra, for example, you will notice strange square protrusions on the trunk lid. These were to fit the suitcase...
I know this car, it is kept in a garage less than a mile from my house along with both another one and P1075, the car that won LeMans in 1969 - the Gulf Ford Gt. I also know who owns this car and he surely does not need the money. That being said , I think the reserve was about 11 million, not 7 as they were expecting to see 12-18 million for the car. It is a very historically significant car - the only US made (sort of) car to ever win the World Championship and to break the stranglehold on Ferrari in the process...
I probably would have sent it to Coys auction in Monaco if I really wanted to sell it, which I don't think the owner really wants . I will say that I don't think he has seen the car more than a couple of times in 5 years or so as he lives about 1800 miles from here..
Reply
pedantic 3:22AM (5/17/2009)
Shelby's own Super Snake sold for 5.5 million a few years ago. Of course, that car was a one of a kind now, as it's sister was driven off a cliff or something. But not surprising this car sold for more since this car has a real racing history.
Reply
CEMan 5:29AM (5/17/2009)
"I'll think we'll get a deal done by the end of the weekend,"
GREAT! Why have in in the damned auction in the first place? Other than all the free, and pointless in the end, publicity, what was the point?
Oh Yeah. Free Publicity.
Wonder how much they saved in advertising costs...
Reply
calhounguy 9:23AM (5/17/2009)
I thought it was a very entertaining auction, more hype than substance but still entertaining. Of course I was disappointed seeing all of the reserve cars not sell. What's the point in an auction if all of the cars have inflated reserves? Too bad Barrett-jackson isn't selling high end cars anymore, I like there broadcast much better. Speed is still king of the hill.
Reply
python 7:19PM (5/17/2009)
Dana owns this car.
Reply