Public service announcement: List of Ford GTs at upcoming auctions (with links)


twobjshelbys

GT Owner
Jul 26, 2010
5,332
Las Vegas, NV
In general appraisers of real estate and collector cars do discount auctions and will include them only when there aren't enough comps, and then with with disclaimers. That is true until the exceptions become the rules, ie, the dominant market makers. For many years I would only include a bank foreclosure or short sale with extreme caution and disclaimers, even going out of the region to find a similar comp. That worked UNTIL those foreclosures and short sales dominated the market. It's very hard to claim a house is worth 500K when two short sales next door for 300K and two more around the corner for sale unsold. With what, over 15? Ford GTs coming on the auction market inside a week, it would be difficult for anyone getting a formal appraisal to not have the auction numbers factored in. But we don't know what will happen!!! The fact that someone is flipping mine says they think it was an anomoly and still believe there is profit to be had. I don't know. Time will tell.
 

SBR

GT Owner
Aug 23, 2009
204
Looks like a 600 mile heritage hammered for 390K, a black no stripe with 300 miles went for 305K and a 2 mile white one sold for 340K. These do not include the buy fee. The Cena NFGT was a no sale at 1 million.
 

Specracer

GT Owner
Mark IV Lifetime
Nov 28, 2005
6,470
MA
How many owners so far? Sigh.....

The Cena NFGT was a no sale at 1 million.
 

GT@50

GT Owner
Dec 14, 2019
173
Issaquah
Thanks for posting results.
I'm headed to BJ to check out the GT's. I haven't seen one in 2 years and have never seen the NFGT. Unless there's a great deal to be had I doubt I'll get one. I really want to see a Tungsten car before buying but BJ doesn't have any. There's a silver 2005 VIN 003 for auction but will probably be too high. It sold in 2016? for $600k+ at auction.
 

Awsum GT

GT Owner '05 & '18
Mark IV Lifetime
Sep 17, 2005
3,894
Central California
Here are some thoughts:

- The market for everything is soft. This is not conjecture. I think McLaren will actually pay you to take their cars at this point. The new cars are available at huge discounts and even the low production stuff like the Senna is repeatedly failing to get bid to MSRP at auction. A low KM P1 sold for under MSRP recently, which was unthinkable at one point. Lambo is similar. Go ask the dealer what kind of deal you can get on an Aventador S on the floor. Many Porsche GT cars are no longer commanding monster (or any) premiums over retail. A bunch of no sale 918s in the region a little over MSRP. There were a couple bust auctions of major collector cars overseas in the last couple months.

It really, really, really doesn't take a genius to figure out the primary driver of "why" - there are a crazy amount of high dollar cars to choose from. Too many. McLaren practically introduces a new thinly changed derivative every other month. My local Aston dealer has a massive amount of cars sitting on their lot with giant red discount tags hanging in the windows. You can buy untold 911 variations at $200k+. Hell, you can buy yourself any of a half-dozen different SUVs that are $200k+ now, a market that pretty much did not exist at all when the 05 GT came out. This is to say nothing of the recent opportunity cost of having dollars stuck in cars when you have to actively try to not get double digit returns in the market.

- Auctions are not representative of the retail car market. Auctions are not representative of the retail car market. Auctions are not representative of the retail car market. Auctions are not representative of the retail car market. Auctions are not representative of the retail car market. Auctions are not representative of the retail car market. Period. Many of these auctions are spectator sport as much as anything else.

My prediction for upcoming auctions - people will pick and choose whichever side of the numbers they like (buyer or seller), and it will all mean little relative to what actually happens in the retail market.
Wondering if the values at auctions are representative of the retail car market?
 

Gene Cassone

GT Owner
Mark II Lifetime
Dec 3, 2005
804
way upstate NY
Can’t believe my 05 GT will be “15” in April!
Bullitt mustang went for 3.4m today!!
 

twobjshelbys

GT Owner
Jul 26, 2010
5,332
Las Vegas, NV
A few on mecum. Happy sellers I think.
 

2112

Blue/white 06'
Mark II Lifetime
Don't forget $3.4M plus fees for a 52 y/o, ridden hard and put away wet, movie Mustang.
.
 

MK2_GT

GTX1 Owner
Mar 25, 2006
792
All the BJ ones are Saturday the 18th. Are you bidding? Sunday, 19th.
not bidding but would like to keep tabs on it.
 

twobjshelbys

GT Owner
Jul 26, 2010
5,332
Las Vegas, NV
Don't forget $3.4M plus fees for a 52 y/o, ridden hard and put away wet, movie Mustang.
.
Yeah but that movie was bullitt ... best car chase scene ever
 

jammer

GT Owner
Mark II Lifetime
Apr 19, 2016
71
SF Bay Area
And the driver was the king of cool himself. A brown Country Squire would've brought good money had Bullitt drove it in that movie instead of the Mustang.
 

2112

Blue/white 06'
Mark II Lifetime
Yeah but that movie was bullitt ... best car chase scene ever
And the driver was the king of cool himself. A brown Country Squire would've brought good money had Bullitt drove it in that movie instead of the Mustang.

Agreed on both counts, but considering the condition car, still shows that can happen at auction when the car is special enough.
.
 

nautoncall

GT Owner
Mark II Lifetime
Apr 6, 2014
1,025
I just watched the auction on YouTube. That car was rough but sure sounded mean!! Can’t believe the owners family had it for 45 years.

 
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texas mongrel

GT Owner
Mark II Lifetime
May 3, 2009
1,479
Houston Texas
Here are some thoughts:

- The market for everything is soft. This is not conjecture. I think McLaren will actually pay you to take their cars at this point. The new cars are available at huge discounts and even the low production stuff like the Senna is repeatedly failing to get bid to MSRP at auction. A low KM P1 sold for under MSRP recently, which was unthinkable at one point. Lambo is similar. Go ask the dealer what kind of deal you can get on an Aventador S on the floor. Many Porsche GT cars are no longer commanding monster (or any) premiums over retail. A bunch of no sale 918s in the region a little over MSRP. There were a couple bust auctions of major collector cars overseas in the last couple months.

It really, really, really doesn't take a genius to figure out the primary driver of "why" - there are a crazy amount of high dollar cars to choose from. Too many. McLaren practically introduces a new thinly changed derivative every other month. My local Aston dealer has a massive amount of cars sitting on their lot with giant red discount tags hanging in the windows. You can buy untold 911 variations at $200k+. Hell, you can buy yourself any of a half-dozen different SUVs that are $200k+ now, a market that pretty much did not exist at all when the 05 GT came out. This is to say nothing of the recent opportunity cost of having dollars stuck in cars when you have to actively try to not get double digit returns in the market.

- Auctions are not representative of the retail car market. Auctions are not representative of the retail car market. Auctions are not representative of the retail car market. Auctions are not representative of the retail car market. Auctions are not representative of the retail car market. Auctions are not representative of the retail car market. Period. Many of these auctions are spectator sport as much as anything else.

My prediction for upcoming auctions - people will pick and choose whichever side of the numbers they like (buyer or seller), and it will all mean little relative to what actually happens in the retail market.
Another reason for softness in the collector market is the stock market. When stocks suck people with money look for more speculative ways to get a return. But when any idiot can get 20%+ in stock, why risk a car investment?
BTW, totally agree about McLaren - their dumb “25 in 5” strategy (25 new models over five years) guarantees values that sink like stones. Mine was the lousiest investment ever, 275 in, 85 out, but even at that sucky sale price I was so happy to see it go.
 

DBK

The Favor Factory™
Staff member
Le Mans 2010 Supporter
Jul 30, 2005
14,878
Metro Detroit
Another reason for softness in the collector market is the stock market. When stocks suck people with money look for more speculative ways to get a return. But when any idiot can get 20%+ in stock, why risk a car investment?
BTW, totally agree about McLaren - their dumb “25 in 5” strategy (25 new models over five years) guarantees values that sink like stones. Mine was the lousiest investment ever, 275 in, 85 out, but even at that sucky sale price I was so happy to see it go.
Give me some credit Dave!

Here are some thoughts:

.....This is to say nothing of the recent opportunity cost of having dollars stuck in cars when you have to actively try to not get double digit returns in the market.
 

FGT899

GT Owner
Mark II Lifetime
Dec 10, 2013
273
Scottsdale, AZ
Thanks for posting results.
I'm headed to BJ to check out the GT's. I haven't seen one in 2 years and have never seen the NFGT. Unless there's a great deal to be had I doubt I'll get one. I really want to see a Tungsten car before buying but BJ doesn't have any. There's a silver 2005 VIN 003 for auction but will probably be too high. It sold in 2016? for $600k+ at auction.
If you will be out here in Scottsdale next week shoot me a PM and I'd be happy to show you my Tungsten GT in person.
 

GT@50

GT Owner
Dec 14, 2019
173
Issaquah
If you will be out here in Scottsdale next week shoot me a PM and I'd be happy to show you my Tungsten GT in person.
That'd be awesome. Will do, thanks.
 

texas mongrel

GT Owner
Mark II Lifetime
May 3, 2009
1,479
Houston Texas
Give me some credit Dave!
Your prose is so masterfully written that the words sometimes slide into my brain without registering! Is that enough credit for you?
 
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jaxgt

GT Owner
Mark IV Lifetime
Jul 12, 2006
2,478
You two crack me up
 

DBK

The Favor Factory™
Staff member
Le Mans 2010 Supporter
Jul 30, 2005
14,878
Metro Detroit
Your prose is so masterfully written that the words sometimes slide into my brain without registering! Is that enough credit for you?
:LOL: Just pointing out that great Daves think alike.