Ford GT Prices

[sethgt]

Hi,
I bought a low mileage white with blue stripe with all options 2005 Ford GT from Lambo/Houston at the end of march, and a close friend bought the identical car, with very low mileage from Shelby in June. I still glance at the E-bay auctions, and was surprised to see the white/no stripe car with just 1600 miles sell for $136,100. Isn't that an extremely low price for a GT with only 1600 miles? is it just a case of an eager seller and a lucky buyer?

2005 Ford Ford GT
2005 Ford GT 40Research 2005 Ford Ford GT

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Ended: Aug 19, 201007:11:08 PDT

Bid history: 12 bids


Winning bid: US $136,100.00

Title: 2005 Ford GT 40
Mileage: 1,600 miles
Location: Naples, FL

Vehicle Information
VIN: 1FAFP90S65Y400624 | See the free Vehicle History Report
Warranty: Vehicle has an existing warranty (specify details in description)
Title: Clear
Condition: Used
For sale by: Private seller

Features
Body type: Coupe Engine: 8 - Cyl. Cylinder Exterior color: White
Transmission: Manual Fuel type: Gasoline Interior color: Black
Disability equipped: No




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Shipping: Buyer responsible for vehicle pick-up or shipping.

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Item Location: Naples, FL, United States

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Title: 2005 Ford GT 40
Mileage: 1,600 miles
Location: Naples, FL

Vehicle Information
VIN: 1FAFP90S65Y400624 | See the free Vehicle History Report
Warranty: Vehicle has an existing warranty (specify details in description)
Title: Clear
Condition: Used
For sale by: Private seller

Features
Body type: Coupe Engine: 8 - Cyl. Cylinder Exterior color: White
Transmission: Manual Fuel type: Gasoline Interior color: Black
Disability equipped: No

 

[dbk]

Rule number one of car prices is never believe what an eBay auction says. I told the guy I'd fly down the next day to get it if he'd take the same amount and he said no thanks.

 

[HHGT]

http://www.fordgtforum.com/forums/s...rrari-amp-Lambo-5-yrs-later&highlight=manheim

Manheim is more of a realistic number

 

[shelbyelite]

It was a white, no stripe (not a highly desired car from my experience). The seller was also not the easiest to communicate with as I contacted them and decided not to pursue the car. Further, a lot of people end up doing no reserve auctions, and just end up bidding on it themselves to keep from being forced to undersell their car. Who knows....? Posting it on a Ford GT site for all to see defiantly doesn't "help" the market as it gives people false pretences that that's the market. Just because ONE car sells or may have sold cheap, doesn't mean THATS the market for all GTs.

 

[shelbyelite]

http://www.fordgtforum.com/forums/s...rrari-amp-Lambo-5-yrs-later&highlight=manheim

Manheim is more of a realistic number

Sorry, but I disagree with you there. I have watched manheim prices on Ford GTs for years and they are all over the place. They don't reflect the true value with as limited number of ford GTs that pass through there.

 

[HHGT]

Sorry, but I disagree with you there. I have watched manheim prices on Ford GTs for years and they are all over the place. They don't reflect the true value with as limited number of ford GTs that pass through there.

Well if it is not Manheim then what database is more indicative? KBB? Autotrader?

 

[shelbyelite]

KBB and books like that are based off of info from orginizations such as manheim, etc. KBB, NADA, etc are way off of the actual market values of the Ford GTs. Here is food for thought..... I sell far more GTs than any other dealer, auction or person in the world. None of these guys collect any info from me as to what these cars are bringing. I'm not saying that what I sell GTs for is "The Market" value of the cars. But don't you think it would throw the numbers off quite a bit NOT to have my data? In my opinion, best way to gauge what the market is on a car when it comes to exotics, is to gather the asking prices of ALL like cars on the market for sale, and get an average asking price. That's the BEST way you are gonna come up with a current average market value.

 

[BlackICE]

But don't you think it would throw the numbers off quite a bit NOT to have my data? In my opinion, best way to gauge what the market is on a car when it comes to exotics, is to gather the asking prices of ALL like cars on the market for sale, and get an average asking price. That's the BEST way you are gonna come up with a current average market value.

I would agree that not including your sales data would throw off the numbers quite a bit. However real market prices would be average sales prices, not asking prices. But no one really knows that number. Shelby I would say that your average complete sales prices would be quite close to the market, care to share that information?

 

[shelbyelite]

I would not disagree blackice, but it's literally impossible to obtain actual sales prices from the people selling GTs. Further, GTs are very color and mile sensitive. I have sold several heritage cars lately that would throw the number off quite a bit as the heritage cars are bringing a rather large premium over the other cars. So many variables fall into place when deciding the value on a GT that it's very hard to establish a "book value" for these cars.

 

[RPM217]

Asking prices are absolutely meaningless, sales prices are the only way to evaluate market value. Heritage prices are off the charts, while Shelby sells more cars than anyone else, he's also trying to sell the most "desirable" cars, ones that he can make a better margin on. I think that we'd all like to believe that our personal car is of course the one in perfect condition, with the most "valuable mods", and therefore deserves at least the same price if not more than what Shelby's getting at the dealership. Unfortunately, that's probably not the reality. Dupont Registry prices are also not very real. I'd venture a guess that Shelby's probably the most qualified to weigh in with what the true market value of any given GT is, but then the question remains, is the value what he'd buy yours at, or what he'd sell it at?

 

[Nardo GT]

I would agree that not including your sales data would throw off the numbers quite a bit. However real market prices would be average sales prices, not asking prices. But no one really knows that number. Shelby I would say that your average complete sales prices would be quite close to the market, care to share that information?

I agree Ice, asking prices mean very little as most sellers still have their cars and are in dream land. I have been in business over 35 yrs. The best way to establish is to buy and sell the product yourself, as Shelby does. When you are not privy to do that on a trial by error basis you can use Manheim, ebay sold data, and actual sales you are aware of gathered from other dealers that will share and sellers and buyers that communicate the price transacted. Add all this together in your brain, then throw in your opinion, then comes condition....which you only know from cars you are familiar with. To say all auction cars are turds would not be accurate. I have seen some very nice cars at auction. Irregardless of the sales surroundings you have to be careful on condition. I do not ever have inspections done. I fly there immediately upon an agreed price subject to their description. I want to see the car in person before money changes hands. I flew to Naples Fl to look at a "perfect" Heritage. I hate that word. A car is never "perfect" imo. I would rather them be honest and tell me about the minor details......all cars have flaws.....I will judge the severity of or it matters.
He had lots of Florida exotic background pics in the ad and Armorall dripping off the car, both of which I could care less about. I asked point blank, as I always do, if they car had ever had any paintwork for any reason or been damaged in any way. I ask lots of direct questions. Again, the car was "perfect" and he answered "no" to the paintwork and damage. My buddy and I flew there, rented a car 100 miles away, drove in and got there at 8PM. He was disgruntled that he had to wait for us. The car had a right frt femder painted and a rt rear quarter painted. I had him look at it closely and he even agreed, but he said "paintwork doesn't matter". It matters a lot. Plus I asked on the phone and he said "no". It was at Ambassador Auto Sales and his name was Nick.
You have to be willing to do the homework.
As far as Carfax....it is a tool, not God's word. I had an 06 black Jag sedan and it had never been painted on. I had 2 other very knowledgable car guys look at it and we all agreed. Car fax said "accident" 3 years ago/ Must have run over a dog lol. Could have been suspension I suppose, but NO paintwork. Also a car can be wiped out and fixed, having a clear title and clean Carfax. Either the owner pays out of pocket for repair or it simply doesn't get reported to Carfax.

And I agree totally with Shelby on this. Quote: " GTs are very color and mile sensitive. I have sold several heritage cars lately that would throw the number off quite a bit as the heritage cars are bringing a rather large premium over the other cars. So many variables fall into place when deciding the value on a GT that it's very hard to establish a "book value" for these cars."

 

[HHGT]

Until someone PUBLISHES a database of actual GT Sales numbers, Manhiem is as honest as its going to get. Threads that discuss the GT prices always draw particular attention, and rightfully so. Almost everyone I know will regularly monitor the value of their assets; homes, cars, valuables, stock etc... The GT is somehow always in a black box and subject to speculation. Why?

One more thing. Unless you have a declared value on your Auto Insurance policy, most insurance companies will use Manhiem & KBB as a GT value justification. Sure specialty car companies will assist in supporting a higher value, but in the end the claims adjuster will only use that as consideration mitigated by many factors including the value and financial strength of the insured and how much legal power he has behind them. Ask those that have been involved in total losses of their GTs and most will support my opinion.

 

[shelbyelite]

I actually get a lot of calls from insurance companies in regards to the value of GTs. On a regualr basis I give them proof of various cars we have sold as they have a real hard time finding any real data anywhere else. Again, there are NOT enough cars going through Manheim to give any accuracy, further, you can not find out anything about the cars. You have NO idea of their condition, miles, options, etc. Manheim is a good source to use to find out values of most cars on the market, but GTs just dont fall in that category. I would be happy to tell people the market value on any car. What retail is and what I would pay which obviously are two different numbers. There is no way I could just put it together in one post. It has to be taken on a car by car basis. Just too many variables. I honestly get this question asked by owners on a weekly basis and as any of them can tell you, I always tell them both numbers. What I think RETAIL is and what I would pay.

 

[STUNTS]

As HHGT knows, I love it when GT prices and values are discussed to the point of no return.
1st : I would have to agree with Shelby on pretty much every word because, it seems like common sense of averaging numbers on a case on case, individualistic car.
2nd : however is this, my opinion which I've stated before. My FGT is priceless, I paid over sticker (ignorance) but over the last 2.5 years, my son asks me to go to cars and coffee, my son asks me to go for a ride in the FGT, my son says, ADDA, when I'm older can I drive the GT just like you?" etc....... priceless....
3rd : the old saying, "There's an ass for every seat... so if you paid over sticker and are content with it, good for you. If you paid $10-$15K less then your buddy, Good for you.... either way, enjoy the vehicle
4th : If you, me, them, anyone is concerned with the future values of any or your GT, my suggestion is buy 2. 1 for driving and not worrying about and the 2nd? Well, wrap it and put it on jack stands and let it sit for 20 years..... The funny thing about that is, if you have enough money to buy 2 GT's then who cares if the car fluctuates only $20K over the course of these times

Just my .02

 

[Empty Pockets]

... but in the end the claims adjuster will only use that as consideration mitigated by many factors including the value and financial strength of the insured and how much legal power he has behind them.

Which is THEE #1 reason to have one's GT insured for an AGREED value from the get-go. Then if it's totaled (God forbid) there's no messin' around for months doing battle over how big the check hasta be.

 

[HHGT]

As HHGT knows, I love it when GT prices and values are discussed to the point of no return.
1st : I would have to agree with Shelby on pretty much every word because, it seems like common sense of averaging numbers on a case on case, individualistic car.
2nd : however is this, my opinion which I've stated before. My FGT is priceless, I paid over sticker (ignorance) but over the last 2.5 years, my son asks me to go to cars and coffee, my son asks me to go for a ride in the FGT, my son says, ADDA, when I'm older can I drive the GT just like you?" etc....... priceless....
3rd : the old saying, "There's an ass for every seat... so if you paid over sticker and are content with it, good for you. If you paid $10-$15K less then your buddy, Good for you.... either way, enjoy the vehicle
4th : If you, me, them, anyone is concerned with the future values of any or your GT, my suggestion is buy 2. 1 for driving and not worrying about and the 2nd? Well, wrap it and put it on jack stands and let it sit for 20 years..... The funny thing about that is, if you have enough money to buy 2 GT's then who cares if the car fluctuates only $20K over the course of these times

Just my .02

Could not agree with you more Tim, well said and I also don't care what my GTs are worth, not why I bought them. My attempt was to answer the question initially asked by the originator of this thread.

 

[shelbyelite]

This thread started out as pin pointing one particular car and a "SUPPOSED" sale price. Truth be told, you cant justify a GTs value off of what one thinks ONE car may or may not have sold for. Until you see several low mile GTs on the market in the $130's, dont sweat the idea that one car may have sold cheaper than you paid for yours. It really doesnt matter......
Simple answer to your question, I believe if that car did actually sale for that, that it was undersold and the buyer got a GREAT deal.

 

[BlackICE]

Which is THEE #1 reason to have one's GT insured for an AGREED value from the get-go. Then if it's totaled (God forbid) there's no messin' around for months doing battle over how big the check hasta be.

Why insure at all? With the exception of theft from your garage, very little risk at all.

 

[Kayvan]

Prices are headed in one direction UP.

The windown of decline from MSRP, down to $125K depreciation floor was somewhere in 2008, and now its directionally up, and will NEVER recede.

Cant think of any car that within 24-36 mos of end of production, had such a short depreciation floor / appreciation swing window.

 

[Empty Pockets]

Why insure at all? With the exception of theft from your garage, very little risk at all.

Isn't there some nearby TRAFFIC you can play in, Clinton? :tongue