What's with the ultra-low mileage examples recently hitting the market?


bonehead

bonehead

GT Owner
Mark II Lifetime
Aug 18, 2012
2,837
Houston, TX
Noticing quite a few sub-1000 mile cars coming on the market in the last few weeks, perhaps even surpassing the number of cars with a few thousand miles on the odometer. Elite has 3, BJ has one, Marv has one. As a prospective owner looking for something a bit more 'affordable' with more miles, this trend is both irritating and hopeful??

Are people thinking this is the peak of the market? Sell now before prices fall? A little wishful thinking on my part or just coincidence?
 
Prices are high, people are taking the money. This is nowhere near the peak of the Ford GT market.
 
Gotta drive the cars before all the seals fail from underuse. haha.

And the sad thing is, if you bought a Heritage at MSRP in 2006 (let's say $170,000 for a round number) and you sell it today for $220,000, your annualized return is about 4%/year. Now, some may say that is a good return in a low interest market. However, that 4%/year doesn't consider carrying costs (insurance, storage, maintenance, taxes, possibly finance charges, etc.), loss of income on capital, and, most importantly, loss of joy of driving, which is, of course, incalculable.

To me, this is a negative return on investment.
 
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Xcentric said:
Gotta drive the cars before all the seals fail from underuse. haha.

And the sad thing is, if you bought a Heritage at MSRP in 2006 (let's say $170,000 for a round number) and you sell it today for $220,000, your annualized return is about 4%/year. Now, some may say that is a good return in a low interest market. However, that 4%/year doesn't consider carrying costs (insurance, storage, maintenance, taxes, possibly finance charges, etc.), loss of income on capital, and, most importantly, loss of joy of driving, which is, of course, incalculable.

To me, this is a negative return on investment.
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An OK return if you kept the car on MSO and never paid registration or insurance on it, but just dod maintenance.
 
I don't feel prices are anywhere near the top. Remember, most people will tell you we are in a down economy, many other people with doubts of what the economy will do. In a good economy, these cars would already be well at or over $250k.
 
As I said, a little wishful thinking on my part. Logically, I don't see any reason for prices to fall at this point with pristine examples becoming harder to come by and likely no worthy successor to come out of Detroit. Just found it strange to see a surge of low mileage examples hitting the market outnumbering the 'lightly' used segment. Gah. The search continues......
 
I don't agree. I would say its about half and half. I have a red 06 with 4800 and a silver with black stripes that will be here in a couple days with 5k miles, and a solid blue with 3k miles. If you want a car, they are out there. Just got to be ready to write the check.
 
shelbyelite said:
I don't agree. I would say its about half and half. I have a red 06 with 4800 and a silver with black stripes that will be here in a couple days with 5k miles, and a solid blue with 3k miles. If you want a car, they are out there. Just got to be ready to write the check.
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Obviously, you have a much better perspective on the for sale market than myself:) Once I sell one of my vehicles, I'll be poised to buy. But regardless, the desired options/color combo (at the right price) just isn't out there.
 
What color combo and miles are you after?
 
bonehead said:
Noticing quite a few sub-1000 mile cars coming on the market in the last few weeks, perhaps even surpassing the number of cars with a few thousand miles on the odometer. Elite has 3, BJ has one, Marv has one. As a prospective owner looking for something a bit more 'affordable' with more miles, this trend is both irritating and hopeful??

Are people thinking this is the peak of the market? Sell now before prices fall? A little wishful thinking on my part or just coincidence?
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It's a shame that people bought these cars and didn't drive them. While they may clear a profit on the purchase price, by the time you include insurance and registration fees (unless still on MSO, but to get a title you're gonna pay sales tax) most likely they would have made more money just investing in the market.
 
twobjshelbys said:
It's a shame that people bought these cars and didn't drive them. While they may clear a profit on the purchase price, by the time you include insurance and registration fees (unless still on MSO, but to get a title you're gonna pay sales tax) most likely they would have made more money just investing in the market.
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HA!! What market are you talking about? Not the same stock market I have been watching for the past 6 years. :)
 
shelbyelite said:
HA!! What market are you talking about? Not the same stock market I have been watching for the past 6 years. :)
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And that why I sprung. Take the cash and buy a GT and have the time of my life or put it in a .01% cash account. Guess what one I chose :)

P.S. My stocks have done 4% this year. Trying to find someone to turn the keys over to. Got a couple of leads (including connections from here) but just too f****** busy to worry about it now.
 
I've gotta say...yes the 167k I put into my GT hasn't returned much since I drive the shit out of it...but it's still worth almost what I paid for it 5 years ago..But I'd have lost 50% on the 911 Turbo I was considering at the time..
 
Joehand1 said:
I've gotta say...yes the 167k I put into my GT hasn't returned much...
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Funny, I put the same amount into mine, but the 60K miles of mine have given me at least $500K worth of pleasures that I could never have gotten anywhere else. And, as a bonus, it introduced me to a group of people with whom I have so much in common. I consider my ROI to be one of my best investments.
 
Joehand1 said:
... hasn't returned much since I drive the shit out of it
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There you go!!! I don't care. It's just so much fun.

I still don't have a chair or couch in the garage. But I sill smile every time I walk by her.
 
The stock market has approximately doubled in the last 4 years...6700? to over 13,000 now....that's why I was just able to buy one. Of course if ALL your money was in before that then you're just getting back to even...
 
the Wizard said:
Of course if ALL your money was in before that then you're just getting back to even...
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Exactly
 
The GT was and is an extremely important car in Ford's history. I think in equal time it will bring what the Cobras fetch today, most likely slightly less due to more produced. Speaking of the market, Ford just crushed it in a good way their last Quarter. I have bought a 280 mile Heritage from Shelby and have 7500 on it 3 years later. Just about to go on a 3 day Jihad in CA, NV, and AZ, just cruising....

P.S. 4000+ GT's made in 05' and 06' total, about 1000 totaled or salvage title.
 
With only ~175 total Superformance GT40s existing in the world, I am expecting them to be worth several million when the zombie apocalypse occurs a month from now. Mine is not for sale, for now...
 
Ford gt market future? It has enjoyed a healthy slow but continual upward direction. Hope it will continue to do so. I cannot explain why classic car market has rallied so hard. Look at pre 1973 Ferraris. Dinos now over $250000!! I sold my 330 gts last year because i wouldn't drive it because the price was crazy. I have been told the prices are high in this economy because investors are looking for diversification. What happens when the economy comes back and real estate prices begin to climb?? Will we have sudden drop like in the early nineties?
 
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