2018 NFGT on BAT didn't hit reserve

[Kiteboarder Ken]

Interesting results on BAT today. A low mileage, lightning blue 2018 was bid up to $908,000 but RNM. Many comments alluded to a market correction in the price of the NFGT. I am not sure how much of a factor that the auction ended early afternoon on a Thursday may have had on the low final bid, but other factors come to mind. Just about every day another GT reaches its 2-year anniversary and becomes potentially available for sale. Obviously many that were lucky enough to win the allocation (or lottery as I see it) purchased their cars for speculation. This observation is based on the little to no miles put on many of these cars and the sale date coming right at the two-year mark (today's seller held his for 4 years so not putting him in this category) So if you had to finance the purchase you would want to sell it as soon as you are able to. That being said, there will be more and more available for sale until around the end of 2024. But after the speculators and others that may need to sell for various reasons do so, there will not be nearly as many on the market. I was not one of the "chosen ones" so I have purchased a 2020 for double MSRP which in itself is a hard pill to swallow. There will be no windfall for me in the near future like the original owner. I also didn't get to go through the ordering procedure, nor will I get the awesome delivery experience everyone raves about. I plan on keeping it until I take a dirt nap and let my kids fight over it. My theory is anyone like me that pays top dollar for the car is in it for the long haul so eventually there should be a dwindling number of GTs available as time goes by (that is until we all start croaking off). I could have purchased a 2017 for much less money but with the 2020 I have a full year of warranty which is comforting, and they have worked out many of the issues by 2020 that the 20017-18 cars have had as well as some improvements on intercooler and tuning etc. Could it be that now that the 2020 models are becoming available that the market has peaked on the 17 and 18's? They are all awesome cars no matter what the year but many buyers like myself, may wait for the right opportunity to get one of the later models. Like the 05 and 06's, I believe they will all continue to appreciate but that may be a few years off. Just like my beat down stock portfolio-you don't lose money if you don't sell!

 

[Art138]

Which one did you buy….pics please! BTW there is a carbon series on BAT….I think it will do better.

 

[extrap]

Ken - You seem like you're trying to convince yourself you made a good purchase. You did!! I'm totally envious! Nobody knows what the future holds, life, economy, car values, etc etc ... ENJOY!

And, yeah, that BaT 2019 is already past today's '18 ... $951K and the top 2 bidders are dealers so you know it's going higher.

 

[Joe Dozzo]

Don't mean to sound like sour grapes but it's hard to drum up sympathy for those with NFGT's looking to sell at 2X the purchase price. Great investment and I sure wish I had one... Maybe someday IF prices come down appreciably.

In the meanwhile, I'll drive and enjoy my 05.

 

[fjpikul]

And the next one hit a million already. Buyers just didn't like blue or whatever options it had.

 

[extrap]

Bidders either don't like blue as much, or maybe don't like the 'old school' silver wheels in an era where black is still the thing, or they highly value the Carbon Series, or maybe bidders just didn't show up for the blue '18 for some unknown reason, or some of each of those ... cuz the '19 carbon got to drive his 800 miles vs 120, paid only $36K more, and yet he's already $92K higher with 10 days to go.

Year	​ 2018​	​ 2019​
Color	Blue	Silver
Miles	​ 120​	​ 800​
Wheels	Silver aluminum	Black carbon fiber
MSRP	​ $550,900​	​ $586,695​
Bid to	​ $908,000​	$1,000,000 (10 days to go)

 

[RaceDeck]

And the next one hit a million already. Buyers just didn't like blue or whatever options it had.

Note that the 3 real bids are 'dealers' and on day one and all around the same time of this 10-day auction.. and crickets since, the seller is a dealer as well - this car is now set as a Million Dollar car online. My hunch is that the bid now is just under reserve and the auction won't see much action until the final minutes ( my guess maybe to 1.2 )
From what I can see at auctions and hagerty reports on higher-end $300k to $1 mil + is a drop in actual sold prices ( or not reaching reserve) .. That said there are many who want to sell for what the market was a 21 to spring 22 - ...of course, there is always someone who's gotta have it no and will overpay ( just less of them now

 

[Kiteboarder Ken]

Ken - You seem like you're trying to convince yourself you made a good purchase. You did!! I'm totally envious! Nobody knows what the future holds, life, economy, car values, etc etc ... ENJOY!

And, yeah, that BaT 2019 is already past today's '18 ... $951K and the top 2 bidders are dealers so you know it's going higher.

I am a pretty good BS'er and I can try to convince myself that its a great deal but it is hard to justify paying 7 digits for a car. You know the saying: "The heirs fly first class!" Well I suppose I have decided to enjoy the fruits of my hard labor before my kids do--. Pics to follow when I finally take delivery. Its going to be a few more weeks. I am getting a taste of what you guys that have been waiting years for your cars to be built.

 

[Ed Sims]

Isn't Liquid Blue the most common color? Any other color should be worth more? All NGTs are collectable so if you own one or have owned one you are fortunate!

Ed

 

[timcantwell]

Enjoy your beautiful car Ken. Hope to meet you. I’m in Naples most of the time.

 

[SYCO GT]

I am a pretty good BS'er and I can try to convince myself that its a great deal but it is hard to justify paying 7 digits for a car. You know the saying: "The heirs fly first class!" Well I suppose I have decided to enjoy the fruits of my hard labor before my kids do--.

Ha! I just flew both ways with my family in economy class over to Markham, Ontario this past week for our excellent tour with Pearce. I am getting way too old to fly in economy with my knees touching the seat in front of me, and I always seem to get the fully reclining travelers in front of me. It pains me to even glance at this photo again! Plus, even though I paid for a checked bag, the staff took my backpack from the bin and made me place it under my seat, as if to further remind me of my self determined class. Haha.

Hmmm. Great point about the heirs. I guess I better step up to at least Economy plus at a minimum. Fortunately, I can still drive most places instead of flying. I think I was just raised to always go for the minimal. Just like the Ford GT. The best supercar in the world at the best price. heheh

Yeah, I think it's great advice that you are living your life with some splurges and I will try to do a better job of that myself, starting with airplane flights!

 

[PeteK]

Ditto. I need to spend my money before my kids do it for me. But the old frugal habits that got me to this state in life are deeply ingrained. Gotta break those good habits!