The highest-grossing car at Mecum Auctions’ sale in Chicago was this lovely blue ‘Stang in pristine condition that went under the hammer for $245k.

Manufactured on September 18, 1969, this Mustang Boss 429 Fastback is one of the 499 cars produced for the 1970MY and was sold as new back in the day at Boyce Ranson Ford in Conover, North Carolina. Even though it’s a 47-year-old car, the odometer reads only 25,000 original miles (40,233 kilometers), while the “concours restoration” makes it even more desirable. These assets were reasons enough to enable the pony car painted in Grabber Blue and with a white interior cabin to go for an impressive $245,000 at a recent sale organized in Chicago by Mecum Auctions.

There’s a lot to like about this particular ‘Stang, from the original and NOS parts used during the restoration process, to the Drag Pack and four-speed transmission linked to the original 375-hp Boss 429 engine.

Besides this classic Mustang, Mecum Auctions' event also saw another 434 cars go under the hammer during the October 6-8 auction in the Windy City where total sales reached $10.5 million. Here is the complete top 10:

  1. 1970 Ford Mustang Boss 429 Fastback at $245,000;
  2. 1967 Chevrolet Corvette Convertible at $123,000;
  3. 1988 Porsche 911 Turbo Cabriolet at $100,000;
  4. 2004 Rolls-Royce Phantom at $90,000;
  5. 1956 Chevrolet Nomad Resto Mod at $85,500;
  6. 1957 Ford Thunderbird E-Code at $85,000;
  7. 1970 Dodge Hemi Challenger R/T at $80,000;
  8. 1968 Shelby GT500KR Fastback at $77,000;
  9. 1968 Ford Mustang Convertible at $70,000;
  10. 1966 Shelby GT350H Fastback at $137,500.

While classic Mustangs continue to be in high demand, the same thing can’t be said about the current model. Ford is idling production at its Flat Rock Assembly Plant following a massive drop in sales of 32 percent last month to just 6,429 cars. By the end of September, the Blue Oval company had enough cars in its inventory for 89 days, which is around 30 days more than what industry analysts consider to be acceptable.

One of the reasons why sales are taking a dive might have to do with the lower incentives Ford has been offering lately. Year-to-date sales are down by 9.3 percent to 87,258 cars compared to the January-September 2015 period.

Source: Mecum Auctions

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1970 Ford Mustang Boss 429 Fastback

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Fall Auction Season Shifts into High Gear at the Schaumburg Convention Center
 
WALWORTH, Wis. – Oct. 11, 2016 – Chicagoland’s only annual classic and collector car auction returned to the Renaissance Schaumburg Convention Center this past weekend where attendees watched as Mecum Auctions dropped the gavel on 435 cars in just three days, Oct. 6-8. Total sales for the high-energy event reached $10.5 million, and bidder and spectator turnout was strong with special appearances by members of the Chicago Blackhawks organization.

An enormous variety of collector vehicles were offered throughout the three-day auction, and it’s reflected among the auction’s top 10 sellers with everything from American muscle cars to classic ‘50s cruisers, and from exotic imports to late-model luxury rides making the list. Sales were led first and foremost by a Grabber Blue1970 Ford Mustang Boss 429 fastback featuring a concours restoration that brought a high bid of $245,000.

While the cars are always the stars at Mecum Auctions, Mecum Chicago 2016 also played host to one of the Chicago-area’s biggest darlings, the Chicago Blackhawks. Friday of the event was declared “Blackhawks Day” with special discounts offered for fans of the professional hockey team, as well as an appearance by the Blackhawks’ Street Team and an interactive display space with games and more on-site at the auction. The team’s namesake charity also offered an exclusive Chicago Blackhawks Experience package on Friday morning, which included an extensive list of VIP items and event passes. The excitement over the once-in-a-lifetime offering, combined with the knowledge of the amazing work the charity does, pushed bidding to an awesome high of $10,000.

The complete top 10 sales at the Mecum Chicago 2016 auction include (all individual sales reflect hammer prices):

  1. 1970 Ford Mustang Boss 429 Fastback (Lot S125.1) at $245,000
  2. 1967 Chevrolet Corvette Convertible (Lot S97) at $123,000
  3. 1988 Porsche 911 Turbo Cabriolet (Lot S101) at $100,000
  4. 2004 Rolls-Royce Phantom (Lot S69) at $90,000
  5. 1956 Chevrolet Nomad Resto Mod (Lot S138.1) at $85,500
  6. 1957 Ford Thunderbird E-Code (Lot S124) at $85,000
  7. 1970 Dodge Hemi Challenger R/T (Lot S96) at $80,000
  8. 1968 Shelby GT500KR Fastback (Lot S150) at $77,000
  9. 1968 Ford Mustang Convertible (Lot S112) at $70,000
  10. 1966 Shelby GT350H Fastback (Lot S123) at $137,500