Mecum Glendale auto auction nets $42.3M in sales during weekend event
PHOENIX — More than 700 cars were sold in one weekend at State Farm Stadium in Glendale during the recent Mecum auto auction event, resulting in $42.3 million in overall sales, the company announced.
The event, which took place March 18 to 20, marked a 14% increase over Mecum’s inaugural event in Glendale two years ago, which was the highest-grossing inaugural event in company history.
“The success of this auction in only its third year is unprecedented,” Sam Murtaugh, Mecum chief operating officer, said in a press release.
“By exceeding $42 million in sales in only three days, the Glendale, Arizona, event has officially established itself as the third-largest auction on the Mecum calendar.”
A 1967 Chevrolet Corvette L88 Coupe with an original L88 engine was the top-selling car at $2.7 million, one of the 712 vehicles bought out of 829 up for sale at the event.
The 20-vehicle Steve Todhunter Collection was all sold and netted an overall total of $6.08 million, with a 2016 Ferrari F12tdf ($880,000), a 2011 Ferrari 599 GTO ($720,500) and a 2006 Saleen S7 Twin Turbo ($605,000) grabbing the second, third and fourth spots, respectively, for the top-selling vehicles.
The Napa Valley Collection made up of 18 classic vehicles were also all sold for a combined $2.1 million, headlined by a 1973 Porsche 911 Carrera RS 2.7 that sold for $495,000 and a 1970 DeTomaso Mangusta that went for $302,500.
In total, the three-day event had a 86% sell-through rate.
“The success and continued growth would not be possible without the natural synergy that has developed with our partners at State Farm Stadium and the gracious host city of Glendale,” Murtaugh said.
“Mecum is excited to compound the momentum in Arizona, and we all look forward to 2022 by making it bigger and better than ever.”