Mecum will handle over 20,000 consignments, including 14,000 cars, and produce over $400 million in revenue. A Mecum event is more than a car auction for generations of Americans who grew up with octane in their blood; it’s a bucket-list item.
Who is Dana Mecum?
Dana Mecum, the founder and head of Mecum Auctions, is selling a few of his personal collection’s gorgeous, low-mileage muscle cars next month.
Mecum is selling eight of his Pontiac GTOs, which date from 1964 through 1970 and include some rare and highly sought-after versions. For example, in 1965, a one-of-a-kind gold GTO was given away as part of a marketing effort.
GTOs have been a part of Mecum’s life since he was a kid, thanks to his father’s Pontiac dealership. Mecum drove his mother’s GTO for a while when he was 16, before buying his own ’66 GTO convertible.
And it’s clear that Mecum’s enthusiasm for GTOs hasn’t waned over time.
In the listing, Mecum stated, “The GTOs I am presenting are all special automobiles.” “I’ve owned a few of them several times. You won’t be able to own everything, but you will be able to keep track of the automobiles you adore.”
In fact, one of the GTOs currently for sale is so important to Mecum that it comes with a condition: if the buyer decides to sell, it must return to Mecum.
The GTOs of Dana Mecum will be auctioned off during Mecum Auctions‘ Indianapolis sale, which runs from July 10 to July 18. Take a closer look at the automobiles listed below.
Dana Mecum’s Net Worth
Dana Mecum Net Worth: Dana Mecum is a wealthy American businessman with a fortune of $45 million. Dana Mecum was born in 1954 in Monmouth, Illinois, the son of renowned fleet dealer Edward Mecum. His money was gained as a result of his enthusiasm for automobiles.
The question, therefore, becomes, what is the Mecum rule? The car is yours if you raise your own bid to satisfy the reserve, according to the Mecum rule.
In this regard, what is Mecum’s share of the pie?
If you choose, Mecum can also provide you with an estimate for vehicle transportation to the auction location. If your car sells, that’s terrific, but keep in mind that you’ll have to pay a seller’s commission—5% of the hammer price without reserve, 10% with a $1,000 minimum on the first eight days of the auction.
What is the most valuable car ever sold at a Mecum auction?
The 1968 Ford Mustang GT used in the Steve McQueen film ‘Bullitt‘ was auctioned for $3.74 million (with buyer’s premium) at the Mecum car auction in Kissimmee.
Dana Mecum’s Frequently Asked Questions
Which of your personal automobiles are your favorites?
Because those were the automobiles I used to drive as a youngster, I used to have Corvettes and muscle cars. Customers would always demand those autos when I first started this firm.
I had to sell them since it was the only way I could feed my family. Then, because none of my customers wanted them, I fell in love with Indy race cars. I enjoyed the romanticism and history around them, as well as the fact that people weren’t always looking for my car. My first was a Rex Mays Gilmore Special, which I raced at Indy in 1935 and 1936. It’s still in my possession.
How did you get started in this line of work?
I purchased 40 semi-tractors. Because I had no experience with trucks, I traded ten of them for four rental houses. The tenants began calling me in the middle of the night to ask me to repair various issues. So I returned to the man with whom I had swapped the trucks and returned his properties while telling him he could keep the vehicles.
“You know, you’re going to lose a lot of money,” he said, and I replied, “Yeah, but I’m going to sleep a lot.” So a guy from North Carolina showed up with 40 collector vehicles, and I gave him the remainder of my trucks in exchange for the cars. So I decided to hold an auction with these 40 and 15 of my own.
When did you first start flying for yourself?
In 2011, I purchased a Citation Ultra, then in 2015, I upgraded to Excel. The Ultra couldn’t make it all the way to the West Coast without refueling.