While I tend to follow live auctions over online auctions, which are well covered elsewhere, I also tend to stick with auctions from RM Sotheby’s, Bonhams, Artcurial, Gooding & Company and the like. Those houses typically consign lots that reflect our area of expertise in German and European collector cars.

Auctions like Mecum and Barrett-Jackson heavily skew toward other brands, in particular American muscle. With thousands of lots crossing the block over a week or two, the bargain hunter can scoop up a good deal or two at these events. In today’s Market Monday, we chose 5 bargains from Mecum’s recent Indianapolis auction.

Mecum Indianapolis Auction 2024

Mecum had 30 Porsches and a good number of vintage Volkswagen and Mercedes-Benz lots among the 2,058 cars it had at Indianapolis. 1,800 cars were sold at Mecum Indy, with a sell-through-rate of 72%. The auction house was able to do $89.1M in sales with an average hammer price of $48,536.

While there were a good number of no-sales, the money certainly flowed for some cars, including some choice Porsches. A 1973 Porsche 911S sold for $236,500 including buyer’s premium and a 1963 Porsche 356B Sunroof Coupe sold for a staggering $187,000. For a 356 B coupe, that’s well over top of the market.

The savvy bidder can find good buys at these huge auctions, however. In this week’s Market Monday, we selected 5 cars from Mecum Indy we consider bargains. Surprisingly, not all of them were “no reserve” auctions, meaning sellers had realistic expectations or the cars were in average condition. Far from trailer queens, these cars still offer a lot of fun for the dollar.

In good condition and painted in the lovely color of Bahama Blue, this 1964 Volkswagen Beetle would surely provide a lot of joy and driving fun for only $11,000. Given 1964 Beetles in similar condition are valued around $15,000-18,000, I consider this a nice buy at the all-in price.

The Porsche 944 was introduced in 1982 as a 1983 model, replacing its predecessor the 924. While it featured updated bodywork and a 2.5 liter inline 4 derived from the 928, the interior featured the dashboard and interior of the 924. I personally like these early interiors better, but the aged look may have dampened the bidding on this first year example of the 944. Selling for only $17,600, this result was a low price for a car with only 21,000 miles.

The Mercedes 560SL has been a car on the rise for quite some time, with some examples selling for over $50,000. This is a huge premium over lesser models like the 380SL. This 1986 560SL just sold at Mecum for a paltry $11,000. While that may have been a market price for a rough car, this one actually appears pretty clean. Perhaps the lack of air conditioning kept it from being the summer cruiser bidders were seeking for the upcoming season.

With a recent top end overhaul in 2019 and a relatively reasonable 100,000 miles on the clock, this 1987 Porsche 911 Carrera sold for just $66,000. While that might not seem like a bargain for a G-body 911, the G50 transmission and 3.2 liter engine that debuted in 1987 make this a desirable car. A similar car recently sold on Bring A Trailer for $105,000 which goes to show that values for good impact-bumper 911s are strong in today’s market. This was a nice score for the high bidder.

Every once in a while the thought of picking up a nice 986 Boxster crosses my mind. While I had zero interest when they were launched, the styling has grown on me and the car’s strong performance and fun driving experience are well documented at this point. Another bonus: they tend to be cheap as they were made in significant numbers. This 1999 Porsche Boxster sold for just $8,000 at Mecum Indy. Even with its 85,586 miles and undocumented IMS bearing condition, this was a strong buy for a pretty color combination of silver over gray with a blue top.

If you’re in the market for a Porsche but don’t have the world to spend, auctions like Barrett-Jackson and Mecum can offer the opportunity to get a good deal. The bidding tents at these events are mostly filled with bidders looking at American muscle cars, meaning the German marques will get less attention. Additionally, if the car you want isn’t the top spec or a highly desirable model, it’ll likely cross the block earlier in the week where bidding attendance will be lower. Happy bidding!

Wolf and Mare provides appraisal services for sellers and buyers of collector European cars. If you’re interested in acquiring a professional appraisal, give us a call or drop a line!