Red Ford GT sold at Leake Auction Dallas, Tx

[tmctguer]

I just saw a red stripe delete Ford GT sell at the Leake Auction in Dallas. It had 1,488 original miles. It hammered at $126,000. With the buyer's premium @ 10%, it totaled $138,600 to the buyer. The VIN is 1FAFP90S65Y401210.

Here were a few interesting other big cars that sold (excl 10% premium): '05 Lambo Murcialago $137,500; '08 Spyker C8 $132,500; '06 Saleen S7 $242,000.

And a '10 Corvette ZR-1 9,900 miles hammered at only $81,500. Seller wanted $91,000 and they sold the car post-hammer -- probably for $85,000. Lots of depreciation on that new

(buyer's premium corrected from 15% to 10%)

 

[GTdrummer]

ZR1 not holding value. They made many more Zr1s than Z06s. Very high production during a time when overall Vette production at historic lows. Feel bad for the guys who paid $120k plus early on.

 

[Empty Pockets]

Feel bad for the guys who paid $120k plus early on.

'Same thing with the guys who paid big premiums on the 427 ZO6's...G.M. was selling 'em at employee discount prices a year or two later.

 

[Kayvan]

Not surprised at Murci...will be below $100K; Gallardo already under $100 & headed to $75K

 

[shelbyelite]

I wouldn't say they made more ZR1s than z06, but definitely too many. American car companies need to learn laws of Supply and Demand!

 

[MK2_GT]

Tmc, what color was the saleen ? Very interesting .....

 

[GTdrummer]

I wouldn't say they made more ZR1s than z06, but definitely too many. American car companies need to learn laws of Supply and Demand!

I was unclear. I should have said recently. In 2010 there were 3X as many ZR1s than Z06s made. (1577 vs 518) In fact, the dealer I have bought Vettes from, Kerbeck would often have 5 or so ZR1s advertised and no 6s. I understand GM has decided to cut ZR1 production by 75% or so .

 

[tmctguer]

The Saleen was silver.

 

[ByeEnzo]

I wouldn't say they made more ZR1s than z06, but definitely too many. American car companies need to learn laws of Supply and Demand!

Old man Ferrari always said....build one less car than you can sell. Not true with any modern sportscars and exotic manufacturers, Ferrari included. The red '05 GT (no stripe as I recall) probably stickered for $150k, so getting $145k is pretty good.

 

[Nardo GT]

"10% BUYER'S PREMIUM ON AUTOMOBILES 6% seller fee plus approx $600 entry fee

15% BUYER'S PREMIUM ON MISCELLANEOUS LOTS"

Sale price being 126K then it would be $138,600 to the buyer and
about $118K to the seller. Just because it was an auction car doesn't mean it was a "storied" car either. Probably a very nice car. Being part of the "exotics for charity" a deal may have been struck on the seller's commision.

 

[djs]

I don't know fellas, just because it's a no stripe, this was a 1500 mile car. Even with buyer's premium, it sounds pretty cheap unless it was rough.

 

[tmctguer]

The car was in excellent condition (good gaps, chin spoiler barely scratched, interior very clean). The transaxle bolts had not been changed. I thought it was slightly low, but in this economy, and for that auction, it was probably right price.

 

[GTRob]

'06 Saleen S7 $242,000.

Saw the S7 in the catalog and it had a reserve, but I did not think it was so low! That car sold very cheap! Now I wish I bid on it.

 

[ByeEnzo]

I just got a call from the guy who bought the red GT at auction yesterday in Dallas. He was at a gas station and couldn't figure out how to fill the car up. He says the ammeter gauge in not working. Probably another gauge failure. Car needs its transaxle bolts done. Glad I answered the phone or he'd be stranded with his new toy.

 

[Lorenzo]

I just got a call from the guy who bought the red GT at auction yesterday in Dallas. He was at a gas station and couldn't figure out how to fill the car up. He says the ammeter gauge in not working. Probably another gauge failure. Car needs its transaxle bolts done. Glad I answered the phone or he'd be stranded with his new toy.

Pretty cool he knew to call a Forum member when he needed help. We must be famous!!!!

 

[ByeEnzo]

Mike, the new owner, lives in Granbury, TX just down the highway from my home. I had him drop by after he gassed the car up, so I got a good look at it. Car has stock rims and no stripe (it has the Mac and red calipers). So, in 2005 it probably stickered for $147K, I guess. The paint and exterior is clean, passenger compartment looks good. Odo at 1500 miles. Engine bay needs detailing. Car is from the collection of a Houston attorney who put several cars through the auction. Being from the Gulf coast there is some surface corrosion on the throttle body and other aluminium bits in the engine bay. Its been sitting outside as best as I can tell. It has the billet control arms. All told probably a fair deal for the buyer. Seller took a hit with the commission.

 

[THamonGT]

There were a total of eleven automobiles owned by a Houston Lawyer who gave them to a Charity in Galveston, Texas (Jesse Tree). He stated that he wanted to "show his children that material things mean nothing these days so he gave them to charity". They were to be auctioned off this weekend in Dallas. He makes enough on BP, to replace them at ant time. He's well known in this area . Charity had no way of sellinf off these vehicles other than at auction. I'll liik tomorrow to see what they all brought. To be sold were---2008 Mercedes-Benz SLR McClaren Conv., 2005 Lambo Murcielago Roadster, 2006 Silver Saleen S7, 2005 Lambo Gallardo Model 140, 2002 Ferrari 360 Spider Conv, 2007 Bentley Azure
Conv.,2005 Ford GT Red Coupe, 2005 Ferrari 612 Scaglietti Cp, 2003 Aston Martin Vanquish, 1962 Chev. Corvette Conv. 1930 Ford Model A. Tomy Hamon

 

[ByeEnzo]

There were a total of eleven automobiles owned by a Houston Lawyer who gave them to a Charity in Galveston, Texas (Jesse Tree). He stated that he wanted to "show his children that material things mean nothing these days so he gave them to charity". They were to be auctioned off this weekend in Dallas. He makes enough on BP, to replace them at ant time. He's well known in this area . Charity had no way of sellinf off these vehicles other than at auction. I'll liik tomorrow to see what they all brought. To be sold were---2008 Mercedes-Benz SLR McClaren Conv., 2005 Lambo Murcielago Roadster, 2006 Silver Saleen S7, 2005 Lambo Gallardo Model 140, 2002 Ferrari 360 Spider Conv, 2007 Bentley Azure
Conv.,2005 Ford GT Red Coupe, 2005 Ferrari 612 Scaglietti Cp, 2003 Aston Martin Vanquish, 1962 Chev. Corvette Conv. 1930 Ford Model A. Tomy Hamon

Story makes sense now. Charity (seller) gets its capital fast. Lawyer gets a tax writeoff against any cap gains he has. Everybody wins. If car had been cleaned up a bit, volt gauge fixed, etc., it might have brought more on the private market, being a no stripe car.