Mecum Chicago sale fetches AUD$25m in sales

Global car collecting continues to trend upwards with sale of diverse blue chip collectibles

Mecum Auction House in the US recently held their 2018 Chicago classic and collector car auction, continuing a strong and growing global trend towards the collector car market which has increasingly grown in popularity as a genuine and fruitful method of investment.

The auction sales totalled AUD$25m (USD$17.5m), representing a 38 percent margin increase over the previous year’s event, with all 896 vehicles offered under the hammer successfully selling.

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The auction’s headliner also ended up as its most expensive singular sale, as a 1979 Porsche 930 Turbo bought new by NFL Legend Walter Payton sold for AUD$456,000.

The runner up in sale price was a 1970 Plymouth Hemi Superbird, which sold for AUD$400,000.

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Prolific private collector Tom Jellison sold off a collection of 58 vehicles, with its entirety successfully selling for a total of nearly AUD$2.8 million. The top individual sale from Jellison’s collection was his 2012 Mercedes-Benz SLS Gullwing, selling for AUD$275,000 – curiously however, about three hundred thousand less than a higher mileage example would fetch here in Australia.

The entire sale included an incredibly diverse mix of cars, from new and old, from affordable to the not so. As global car collecting continues to attract new players keen to invest in more diverse assets, Mecum illustrates the skyward trend towards classic and collectible cars.

The top ten collector car sales (prices listed in AUD$) at Mecum Chicago 2018 are as follows: