Just looking through BJ results for Vegas and came across this....seems like a good deal for a heritage

[Voda]

Maybe I'm off, but this seems like a good deal for a heritage $324,500 which includes buyer premium for 4,900 mile GT.
https://www.barrett-jackson.com/Events/Event/Details/2006-FORD-GT-HERITAGE-EDITION-234099

 

[twobjshelbys]

Yep, someone stole it. It was my car. Didn't meet either of our expectations (mine or BJ). Hasn't showed up here yet.

I think the whole market for Ford GTs is softening. Some of it is seasonal, but I also think the whole Ford GT is waning. Take a look at the upcoming BJ Scottsdale. Last I looked there were 10 Ford GTs on the docket. For those looking to get in that may be the place. Set up a PPI in advance and bid, you've got nothing to lose. We'll see but I'm guessing the days of 500K+ heritages are gone.

 

[Voda]

Wow, would have loved to have bought it Tony.
Doesn't make sense that they sold a red/white stripes with 7,000 miles for the same price as yours $324,500 : https://www.barrett-jackson.com/Events/Event/Details/2005-FORD-GT-233828
Weird stuff happens at auctions sometimes.

 

[centerpunch]

https://www.fordgtforum.com/forums/threads/bj-crazies.36482/

 

[Voda]

https://www.fordgtforum.com/forums/threads/bj-crazies.36482/

Missed the thread. I apologize for the redundancy.

 

[twobjshelbys]

It all has to do with how many bidders. There were only two on mine - one on the phone and one in the sky box. The red one had more activity. Auctions are weird places.

 

[Vincent998]

I think the market in general is down. It's not a good time to sell. Look at the actual sale prices on Bring a Trailer ....

 

[jaxgt]

$324 with premium Means seller prob netted $265-270 or so.

Market def soft. Drive em is only answer

 

[twobjshelbys]

$324 with premium Means seller prob netted $265-270 or so.

Market def soft. Drive em is only answer

8% you do the math

 

[RickH]

A 530 mile example was bid up to $400K at Mecum Kansas City after the Las Vegas auction. Seller wouldn't sell. $105K difference can't be attributed to mileage alone.

 

[centerpunch]

$324 with premium Means seller prob netted $265-270 or so.

What he said.

When they say $324, that is not the hammer price, that's the actual selling price, which includes the buyers fee.

Both those cars hammered at $295,000, so actual selling price after adding 10% buyers fee was $324,500.

If seller's fee was 10%, he would get $265,500. If it was 8%, he would get $271,400.

If you do the math that means BJ gets 16.4% or 18.2% of the sale price. Pretty steep commission IMHO.

(Plus the auction company also usually makes money on additional marketing fees and listing fees, and of course, the seller has the additional cost of transporting the vehicle to the auction.)

 

[centerpunch]

A 530 mile example was bid up to $400K at Mecum Kansas City after the Las Vegas auction. Seller wouldn't sell. $105K difference can't be attributed to mileage alone.

Actually, I think it definitely can.

Top dollar buyers, who likely have no intention of driving their cars, are looking for virgins or near-virgins. If you look at the high dollar sales, they are essentially all for cars that have less than 1000 miles.

Obviously, a near-zero mile Heritage is essentially as collectible as they get.

 

[QuickSilverShelby]

I was at the Vegas auction and up close and personal. I watched Tony's Heritage cross the block and I was a little sick when it hammered at $295,000. When the red/white hammer at $295 I was completely amazed. The Heritage didn't get anywhere near what it deserved and the Red/White was strong money.

Go figure!

QSS

 

[shesgotlegs]

Aside from the winter blues and as of late general collector car price decline, IMHO GT prices will go up in the spring when the Ford v Ferrari movie sinks in as well as when people realize how expensive parts are.
Good buying opportunity!

 

[NorthwoodGT]

there have been a couple Heritage cars at auction that seasoned GT buyers wouldn't touch with a 10' pole. just because it's a Heritage doesn't mean it's a pristine car regardless of the mileage. just sayin- do your homework.

 

[SBR]

That was a great price for a Heritage. Sorry to hear that it did not do well for the seller. I don't care what BJ says, in my opinion the stars do not always align and people end up getting burned with a 100% no reserve auction.

 

[centerpunch]

But notice that BJ doesn’t get burned....

 

[SBR]

Yup, that what's most important. To themselves...

 

[Vincent998]

Aside from the winter blues and as of late general collector car price decline, IMHO GT prices will go up in the spring when the Ford v Ferrari movie sinks in as well as when people realize how expensive parts are.
Good buying opportunity!

Why would prices go up when people realize how expensive parts are? I think that would depress prices, not raise them. Did you mean inexpensive (not quite correct ...)?

 

[shesgotlegs]

GT supply will decline as cars are purchased for their parts. Also look at what $ salvage cars have fetched.