FordGTprices.com, 100% right, 50% of the time

[centerpunch]

Long-timers here may remember me. I'm the guy that did FordGTprices.com- a free website that tracked selling prices of new Ford GTs in 2005 and 2006, and I was one of the VERY few people who correctly predicted that the initially-inflated selling prices would drop to MSRP. And they did.

Here's a link to archived pdfs of most of the old site.
http://www.fordgtforum.com/forums/showthread.php/1851-FordGTprices-com-is-closed-for-business

I was a pretty smart dude- 100% right when almost everyone else was wrong.

My site was quoted in Car and Driver, Sports Car Market, and Autocar in the UK. Jalopnik even featured an audio interview detailing my site and how my predictions had become reality. I guess it was my 15 minutes of micro-fame in the car enthusiast world.

But..............

One final question in that interview was: "Do you think that Ford GT's will appreciate in the future?"

My answer was short and definitive: "No. I don't see any way the cars will appreciate."

And that prediction, as you all know, was 100% wrong.

Here now, for your amusement, are the top five reasons I was TOTALLY wrong about the resale market for Ford GTs:

Number Five:

Ford GT buyers are not like most Corvette or Viper owners. A lot of those cars are purchased by folks who are stretching financially to buy their dream car. At $160K or more, most Ford GT owners are less likely to end up in a position where they have to sell their car.

What's more, more than a few GT owners find it necessary to have more than one! I don't know of any other car that has earned such a following.

Number Four:

The Ford GT was seriously overdesigned. Unlike most exotics, the GT's engine can easily be modified to add many hundred horsepower, without the engine or tranny disintegrating.

Number Three:

A few very smart dealers cultivated a premium resale marketplace, where demand exceeded supply.

Number Two:

The Ford GT was a once-in-a-lifetime car, with no successor. (Recent rumors indicate this may change- we'll see!)

And the NUMBER ONE REASON I WAS TOTALLY WRONG ABOUT THE RESALE MARKET FOR FORD GT's:

I'm not as smart as I thought!

**********************************************

The rest of the story:

The bad news: I bought a new 2006 GT, but sold it less than a year later, losing a bit on the sale.

The good news: I put that money in Apple stock, and still have it. (So maybe I'm not totally dumb!)

**********************************************

Paul Allen
Cincinnati Ohio

 

[dbk]

Is it 2005 around here? I feel like I'm having flashbacks! :willy :lol

Paul, if you put all that GT money in AAPL, you have no reason to complain and should buy several to make yourself feel better! :biggrin

 

[centerpunch]

Dave, you are right! I am not complaining, just needed to "own" my totally wrong prediction!

And happy birthday tomorrow!

 

[PL510*Jeff]

Hi Paul - good to read your post. You were Right.

And we all can identify with reason #1.

All the best for 2015.

 

[Sinovac]

I remember your website well. It reinforced my decision to delay my purchase until the prices cooled off. Thanks for that. I ultimately bought a new 2006 under sticker.

You did much better with the stock.

 

[centerpunch]

An addition to Number Five:

(also added to post #1)

Ford GT buyers are not like a lot of Corvette or Viper owners. A lot of those cars are purchased by folks who are stretching financially to buy their dream car. At $160K or more, most Ford GT owners are probably less likely to end up in a position where they have to sell their car. What's more, more than a few GT owners find it necessary to have more than one! I don't know of any other car that has earned such a following.

 

[GTdrummer]

agree , especially number 4

 

[Indy GT]

WOW. I am having flashbacks as well!
Nice to see you back on our Forum Paul!:thumbsup

I followed your website daily and talked to dealers across the country. Your site certainly gave me information to speak with knowledge to the many dealerships.

Perhaps you may dust off the keys and start this service again.
Many of us may need your services and insight again.....

 

[roketman]

Paul
I followed and listened to your advice as well. I waited to buy based on your prediction I bought my GT in Nov of 2006 for sticker.
You really helped me out emotionally!What you gave me was the posibility of perhaps being able to actually buy and own a GT!
For this I thank you! I now have 39k on my GT!of course like everyone I wish I had bought two.
The real jackpot is the wonderful friends I have made because of this car and wonderful forum!
Did I thank you yet ? Well a very big thank you!
You may have to bring your site back for the new GT!
My best regards to you
Ron Aka Roketman

 

[Empty Pockets]

The rest of the story:

The bad news: I bought a new 2006 GT, but sold it less than a year later, losing a bit on the sale.

The good news: I put that money in Apple stock, and still have it.

'Pretty much mirrors my own experience as well...except I sold mine about 2 years later for slightly more than I paid for it. 'Reinvested the proceeds into 2 stocks...one of which is now worth 7 times what I paid for it. The other is up about 40% and pays qtrly dividends. So, from a $$$ standpoint, I'm also ahead...even at today's GT prices...which, I guess, proves once again that dumb luck does triumph every now and then...a Godsend from which I've benefited on more than one occasion! :lol

:cheers

 

[GKW05GT]

I had your website on my favorites and also followed it every few days. It seems a long time ago and then it was only a dream but it just goes to show what can happen.

 

[Gene Cassone]

I remember your posts and argued the GT would go up because primarily for reason # 2! I was also quite impressed with ford's effort that I also bought ford's stock when it went down to below 2! (Now15). Nice to be a winner on both accounts! I am also not convinced a new "GT" will hurt the values of ours. Unless they build greater than 5000 year after year like ferraris where there are updated versions every 4-5 years

 

[GTJack]

I followed your website faithfully and it helped me decide when to begin my search in earnest, resulting in the purchase of my car in Sept '06 for a good deal less than MSRP!! Thank you.

 

[bret a ewing]

Hi Paul,
Good to hear from you again. I followed your site religiously, and thanks for that. You took some of the wind out of our local dealers ADM. I remember arranging a purchase at MSRP due to the market research on your site.
Like you, I felt the prices would decline organically so naturally I didn't want to take a depreciation hit.

You were not the only one who misjudged the trend.................don't be so hard on yourself.:thumbsup

 

[PILOTJPW1]

Yep flashback.

Welcome back Punch.

We may enjoy your hard work again. Great memories of the drama!

 

[shelbyelite]

Is someone staging a come back?
I will gladly take a new Ford GT for MSRP (If a new one comes out)
Thanks for the compliment in reason #3

 

[AtomicGT]

I remember the "centerpunch" days.

Three questions now are:

1. Did you own a FGT? I seem to remember that you did.
2. Did you sell it?
3. And if you sold it, do you regret the sale?

 

[centerpunch]

Yes, bought a new 06, blue, no stripes no options, sold it within a year. Really hated the doors, but yeah, wish I had it now.

 

[Specracer]

Welcome back here Paul, I still have your parts you sold me after you sold your car. Wheels are in use, luckily nothing else. I hope you are well.

 

[ByeEnzo]

Paul, I followed your website religiously in '05. Armed with sales data from
your site, I bought my FGT in Dec. '05 for $4k under sticker. 41k miles and smiles later, I'm still a happy camper. Thanks!