As 2022 is still starting out, the pulse of the classic and collector car market looks very strong. Car collectors might not have realized how strong this market is. Collectors Dashboard has closely followed specific high-end cars that were listed in the January 6-16th Kissimmee Florida car auction. Some of the cars were incredible, but the reality is that this auction is showing just how strong this market is right now.

The Mecum auction has effectively rewritten collectibles history. This was the first collector and classic car auction to ever surpass $200 million in sales for a single event. The final sales tally of $217 million blew out the prior record of $176 million.

Collectors Dashboard evaluates high-end collectibles as an alternative asset class. This means collectibles are attracting the same capital that could have been invested into stocks or bonds. Classic cars can easily sell for close to $100,000 and some cars sell in six-figure and even above the $1 million mark. That is a lot of capital that could have otherwise been invested in stocks, bonds or mutual funds.

In an effort to be as transparent as possible, investing in collectibles can be a very different experience for first time and even very experienced buyers. This is beyond the fact that there are no guaranteed returns, and beyond the notion that collectibles can lose significant money. Owning a classic car has ongoing costs – storage, gas, maintenance, registration/tax and insurance.

On top of $217 million in sales being the highest total ever achieved at a single collector car auction, check out some of these other landmark references:

• All 11 days recording single-day auction records for the Kissimmee event
• A 90% overall sell-through rate—the highest overall percentage ever recorded for the Kissimmee event
• Saturday, Jan. 15 marking Mecum’s highest single-day auction total in company history with $72 million in sales and nine vehicles reaching seven-figure ($1M+) prices
• A total of 13 vehicles achieving seven-figure ($1M+) sale prices
• More than $213 million in vehicle-only sales with 2,954 vehicles changing hands—the most ever sold at a single live collector car auction

The successful launch of the new Mecum and MotorTrend partnership was also shown to see viewership reaching an all-time record for Mecum Auctions. There was even $2.66 million in total Road Art sales, with 1,262 items changing hands.

The most valuable Mustang in the world and the high single car sale of the entire auction was the 1965 Shelby GT350R Prototype (Lot S160) selling for $3,750,000. Image below provided by Mecum Auctions.

Here is an itemized list of the other key $1 million-plus dollar sales (below):

• 2020 McLaren Speedtail (Lot S146) sold for $3,300,000.
• 1951 Hirohata Mercury Custom (Lot S152) sold for $2,150,000.
• 1994 Porsche 911 Turbo (Lot S164) featured in the film “Bad Boys” sold for $1,430,000.
• 2018 Ford GT ’67 Heritage Edition (Lot S245) sold for $1,320,000.
• 2016 Pagani Huayra (Lot S115) sold for $2,117,500.
• 1936 White Model 706 Glacier National Park Tour Bus (Lot S132) sold for $1,430,000.
• 1992 Ferrari F40 (Lot S150) sold for $2,750,000.
• 1955 Mercedes-Benz 300SL Gullwing (Lot S162) sold for $2,640,000.
• 1967 Shelby 427 Cobra Roadster (Lot F117.1) sold for $1,430,000.
• 1961 Mercedes-Benz 300SL Roadster (Lot F143) sold for $1,375,000.
• 2019 Ford GT (Lot F181) sold for $1,017,500.

The one takeaway that Collectors Dashboard would offer is that Mecum’s January car auction in Kissimmee will stand as the backbone of car collecting for the temp of the classic and collector car market in 2022. Many collectors are going to feel more secure that the car (or cars) being purchased fits within the theme of an alternative asset class. They have to know that doesn’t mean they won’t lose any money on their purchase, but many classic car buyers are buying those “assets” for pure enjoyment and to have a specific experience.

Collectors Dashboard will use this information to compare with other car auction companies in the weeks ahead. The year 2022 is getting off to a very strong start indeed.