Pontiac GTO Fetches One Million Dollar Price at Mecum’s Kissimmee Florida Auction
The muscle car market can be a classic game of hot and cold. Certain marque models have held six or even seven figure values, while others can ride the roller coaster of “will the investment pan out.”
Until yesterday, the majority of the high dollar cars have traditionally been exotics, or from the Ford, Mopar and Chevrolet marques. Only one Pontiac has auctioned for more than one million dollars, a 1954 Bonneville Special Concept, and the highest GTO purchase price on record was a 1969 GTO Judge garnering a $682,000 purchase price.
Thanks to the first big auction of 2023 at Mecum Auctions in Kissimmee, Florida, now Pontiac has two cars that have commanded one-million-dollars at auction, and the second example is the first GTO to do so.
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A beautiful example of a 1970 Pontiac GTO, from the Chuck Cocoma collection, crossed the block on Friday, January 13th.
Optioned like a kid in a candy store with unlimited choices, the Orbit Orange convertible is optioned with “The Judge” package, a Ram Air 4 400 cubic inch engine rated at 375 horsepower (the highest horsepower engine available in 1970), a Turbo 400 automatic transmission, hood tachometer, stereo tape player, power steering, and power front disc brakes.
It all adds up to a very desirable muscle car, only one of seven GTO Judge convertibles with the Turbo 400 transmission.
The GTO hit the auction block hot as a firecracker, hitting half-a-million dollars before the auction was even 30 seconds into bidding.
Less than one minute later, at a bid of $850,000, the reserve came off, meaning the car was now destined to change owners.
Less than two minutes after bidding began, a one-million-dollar bid was in, and the auction ended with that dollar amount sending the highly-prized GTO to a new home.
Watch all the action of the auction below:
Written by Derek Putnam. Photo courtesy of Mecum Auctions.