Mecum GT sale


GT35065

GT Owner
Mark II Lifetime
Yellow with black stripe Ford GT with 500 miles on it hammered yesterday at Mecum for $300,000 plus buyers commission. Had optional wheels and red brake calipers.
 

GKW05GT

GT Owner
Mark II Lifetime
May 28, 2011
2,755
Fayetteville, Ga.
Slow or no sales on the others bid up to 250k no sale. All 5 to 9,000 miles
 

Sinovac

GT Owner
Mark II Lifetime
Jul 18, 2006
5,832
Largo, Florida
Did you go to the auction Rick?
 

dbk

The Favor Factory™
Staff member
Le Mans 2010 Supporter
Jul 30, 2005
15,187
Metro Detroit
Red 5,600 mile - No sale (high bid $260,000)
Black 8,500 mile - No sale (high bid $250,000)
Tungsten 5,000 mile - No sale (high bid $240,000)
Red 8,500 mile - No Sale (high bid $250,000)

Yellow 568 mile - Sold Hammer $300,000
Red 7,500 mile - Sold Hammer $220,000

I watched a couple of the no sales and it seemed like the bids were being advanced towards reserve and quickly closed.
 

GT35065

GT Owner
Mark II Lifetime
No, I didn't go, just recorded it on DVR so I could fast forward through most of it. Seemed like some decent prices on a few nice ones. Not quite as nutty as BJ's, however some rare stuff brought huge bucks. Can't believe what some of the Mopar's brought.
 

2112

Blue/white 06'
Mark II Lifetime
People listing with high reserves hoping for crazy $ but just going home when it doesn't materialize?
 

matteuson

GT Owner
Jun 4, 2014
99
Cincinnati, OH
Red 5,600 mile - No sale (high bid $260,000)
Black 8,500 mile - No sale (high bid $250,000)
Tungsten 5,000 mile - No sale (high bid $240,000)
Red 8,500 mile - No Sale (high bid $250,000)

Yellow 568 mile - Sold Hammer $300,000
Red 7,500 mile - Sold Hammer $220,000

I watched a couple of the no sales and it seemed like the bids were being advanced towards reserve and quickly closed.

Exactly. The appetite for the GT at auction is slowing down. It couldn't continue to be a straight line up.
 

Empty Pockets

ex-GT Owner
Mark IV Lifetime
Le Mans 2010 Supporter
Oct 18, 2006
1,361
Washington State
The appetite for the GT at auction is slowing down.

'Think maybe the NFGT might have something to do with that? Or a coincidence? :shrug

It couldn't continue to be a straight line up.

'Pretty much a 'given'. There has to be a $$$ plateau at least once in a while.
 

Sinovac

GT Owner
Mark II Lifetime
Jul 18, 2006
5,832
Largo, Florida
I watched a couple of the no sales and it seemed like the bids were being advanced towards reserve and quickly closed.

I'm not surprised. Those "high bids" are often illegitimate.
 

dbk

The Favor Factory™
Staff member
Le Mans 2010 Supporter
Jul 30, 2005
15,187
Metro Detroit
But legal, so long as it's in the fine print!

I knew what the guy with the red 8500 mile car was looking for. Died near it.
 

partssmann

GT Owner
Mark II Lifetime
Jun 1, 2013
755
Scottsdale, Arizona
Why did the 7500 mile red GT go for only $220K? Seems a little low considering higher mile 8500 mile red GT bid to $250K and no sale.
 
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ROCK

GT Owner
Jul 10, 2006
412
Miami
There's a new Ford GT.
 

68Rcodeman

GT Owner
Mark II Lifetime
Apr 5, 2008
800
Spring Hill, FL.
I was there for two days. One of the red ones bid into the 200"s . When bidding stoped the auctioneer said it takes 400 k. The car had some miles on it. Yellow car was a low mile car.
 

debtdrives

GT Owner
Mark II Lifetime
Apr 20, 2007
438
Oakland, Michigan 48363
When MSRP and volume plan for the new ford gt becomes known, any weakness in the old ford gt's will firm up and stabilize. The unknown always hurts values of assets. Like stocks on wall street.
 

HOOKED ON GT

GT Owner
Oct 26, 2006
468
Orlando & Australia
How does one assess the value of their GT at market prices?
I just want to make sure the insurance is up to date and not 100k out..
Clean 06 Heritage stock all round about 4,000 miles
Stuart
 

SBR

GT Owner
Aug 23, 2009
206
Why did the 7500 mile red GT go for only $220K? Seems a little low considering higher mile 8500 mile red GT bid to $250K and no sale.
The 250K bid was probably not a real money bid. In a reserve auction, the auction company can bid the car under it's reserve if there is no live money on it.
 

2112

Blue/white 06'
Mark II Lifetime
How does one assess the value of their GT at market prices?
I just want to make sure the insurance is up to date and not 100k out..
Clean 06 Heritage stock all round about 4,000 miles
Stuart

In this rising market, wouldn't an actual value policy pay you based on recent comparable sales?

Agreed value policies are great if there is ambiguity as to what your car would cost to replace, which in a falling market, can turn out not to be in your favor.
 

Tungsten1663

GT Owner
Dec 10, 2013
13
Manheim in FL "dealer only auction" sold today a 06 red with stripes, bbs wheels, 4k mile car for 251k.
 

Indy GT

Yea, I got one...too
Mark IV Lifetime
Jan 14, 2006
2,526
Greenwood, IN
How does one assess the value of their GT at market prices?
I just want to make sure the insurance is up to date and not 100k out..
Clean 06 Heritage stock all round about 4,000 miles
Stuart

Stuart,

There have been a plethora of threads here on our Forum on this car value topic.
Suggest you check here more often to follow ownership thoughts on car value.

Also, suggest you contact Shelby to get a value assessment for insurance coverage. He has his finger on the daily pulse.:biggrin
 

Waxer

Well-known member
Le Mans 2010 Supporter
Jul 22, 2007
927
Wait until people figure out it take $400k+ and waiting in line behind Leno and king Yabbadabado to get a new "GT" with only 1200 available world wide.

Yup.