Bloomingto0n Gold

Well, we're back from another Bloomington Gold, only this time I have 2 more cars than what I had when I left. Prices were down about 30-40% and less than 30% of the cars going across Mecum's block were being sold. The stars were 3 serial #1 cars, a 55, 56 and 57, each carrying serial number 001. They were restored to a point beyond perfect, each getting a frame off, rotisserie nut and bolt restoration. They rolled all 3 onto the stage and tried to sell them as a group, receiving a real bid of $2.8 million, which I thought was more than the real money in todays market. Then Dana Mecum did what I thought was the stupidest thing I've ever seen done at an auction. He put in a bid on his own for %2,825,000, attempting to get the real bidder holding at $2.8 moving towards the $3 million we all assumed the sellers had their reserve set at. Bit it backfired on him, as the only bidder left in figured out he didn't want to play that game. The sellers refused to drop their reserve (really stupid move on their part) and they eventually moved on the trying to sell them separate. The 53 went to $900k, no sale. The 56 only brought a bid of $750k, no sale and the 57 moves up to 1 Million, no sale. All 2 cars went home in their trailer. We bought a 70 4 speed A/C vert and a 71 4 speed A/C vert, bot nicely restored drivers. Both small blocks. One is going to get a LS7, 5 speed implant and the other is getting a LS3. Couldn't afford to pass them by. There were deals to be had. Only saw a few go for more than they were worth (example, they sold 6 ZR-1's from a collection, all nice cars, but just OK, nothing really special. Sold as a group for $230k plus fees, way more than individual ZR-1's were bringing). Nutty buyer. We also tried to buy a 67 as a donor car to restomod, but the seller was smoking something nuts and went home with it instead, less his buy back fee. Lots of cars on display and plenty for sale. Vendors were a little light this year and most who showed up were griping that no one was spending any money. Attendance was good until it poured rain on Sat afternoon for about 5 minutes, but that was enough to clear out the lookers. All in all a good show, but not a great one.