Public service announcement: List of Ford GTs at upcoming auctions (with links)

[w.a.nelson]

I should have gotten a BS in Auto Auctioneering! ( Or perhaps it's all BS )

I was wrong. Surprised at prices.

I'm sorry, but a million plus for an NGT is crazy. Particularly Cena's. Imagine down the road, some auction house saying; " We have the complete documentation of the lineage of this car". I don't see the Ford resale issue adding any value, but that's just my opinion.

 

[dbk]

I mean holy shit I have to say something here. Mecum definitely drops major amounts. They repeatedly sell cars for a single collector and in the past they've made him dollar guarantees the cars have failed to meet on millions of dollars worth of cars. That's not much? They've literally ate millions of dollars on his behalf just to get the cars there. So really, you or anybody else have no idea what they do on any given car. Like I said, asymmetric information.

My other thought is that if you had at any point in the literally FOUR YEARS your car was advertised as "for sale" actually attempted to sell it for market price Tony, the car would have been sold for way more than it netted you. The delta could have easily been $100k. It could have been $50k in a fire sale to a wholesaler. I would be pretty reticent to offer up all my professional opinions on what happens in this marketplace outside of a proven how-to on literally realizing the worst possible result. Jesus.

 

[twobjshelbys]

If a Mecum affiliate bought the car for $324,500 at BJ, then sold it for $374,000 at Mecum, the Mecum corporation grossed $49,500 on the flip of the car. Plus all the marketing benefits and excitement related to such a premuim car. Not complaining, as long as it is all done in a public auction. Toni wins with a higher price, Mecum wins and we all get a lot to talk about. A real Market Maker. Adds to the overall liquidity of the auction market. The intrinsic value of such an exotic car is well beyond it's selling price.

Your "inside job" description might be it. The reason is that I'm still mighty suspicious of the photos on the two Heritage cars. They look to me like they were taken in the same place at the same time. That would sort of make some sense if the collection that had the other heritage was bulk shipped and their in house guys did the shoot. My car certainly went straight from Vegas to wherever the photos were taken.

 

[SBR]

I have sold with Mecum and what Dave has stated is 100% correct. I will never sell with BJ simply because I do not believe in no reserve. I have seen too many of my friends get burned by buying their cars back or selling for short $$

 

[twobjshelbys]

I mean holy shit I have to say something here. Mecum definitely drops major amounts. They repeatedly sell cars for a single collector and in the past they've made him dollar guarantees the cars have failed to meet on millions of dollars worth of cars. That's not much? They've literally ate millions of dollars on his behalf just to get the cars there. So really, you or anybody else have no idea what they do on any given car. Like I said, asymmetric information.

My other thought is that if you had at any point in the literally FOUR YEARS your car was advertised as "for sale" actually attempted to sell it for market price Tony, the car would have been sold for way more than it netted you. The delta could have easily been $100k. It could have been $50k in a fire sale to a wholesaler. I would be pretty reticent to offer up all my professional opinions on what happens in this marketplace outside of a proven how-to on literally realizing the worst possible result. Jesus.

The benefits you describe belong ONLY to those in a MUCH HIGHER PAY GRADE than any of us mere mortals. There is a huge difference between, as I already said, someone that has a huge volume and history with either Mecum or BJ doing repeat business and liquidating than "just a guy selling or buying one car". You get those perks over time. I got some by giving a car to charity, but those perks have expired. I realize that I'm at the bottom of the mere mortal list here, so I got what I got.

Yep, and being in denial that I might drive it again had some factor and suddenly last summer I realized that wasn't going to happen so it went to fire sale. But I'll still assert that there was a whole bunch of Market Making for at least a year that happened last weekend. We'll see what BJ brings to bear.

And the local wholesalers here all, to the one, offered me less than I paid for it which was MUCH MUCH less than what I got. One's offer was even for under original MSRP. I didn't fund a retirement but I will buy my daughter a house.

 

[Stef]

Ganassi is here, have not seen noticed that it is going to auction

2017 Ford GT Heritage Edition_6083

View high resolution photos “Heritage” Ford GT owned by Motorsport “Hall of Fame” member Chip Ganassi First year, 25th Ford GT built, one of the limited edition Heritage cars in 2017 Special limited-edition celebrating Ford’s first 24 Hours of Le Mans victory in 1966 647 horsepower, 550lb/ft...

canepa.com

In a casual conversation I mentioned this GT to my servicing dealer.
He said Canepa had just sold the Ganassi GT. This was about about 3 weeks ago +/-

 

[Voda]

If you know of other cars at the auctions, give me links to their auction listings and I will add them to the lists.

Not sure if this is redundant but here are a couple of lots (again, if this is redundant, I apologize)

Goodings Auction:
2006 Heritage https://www.goodingco.com/vehicle/2006-ford-gt-heritage-edition/
2018 GT https://www.goodingco.com/vehicle/2018-ford-gt/

RM Sothebys:
2017 GT https://rmsothebys.com/en/auctions/az20/arizona/lots/r0106-2017-ford-gt/839696
Replica https://rmsothebys.com/en/auctions/...ford-gtd-40-replica-by-gt-developments/841867

Leake:
2006 Tungsten https://worldwideauctioneers.com/car-details/?id=71&rid=56

 

[Voda]

Holy margins!

At least they fairly rake both sellers and buyers through the coals. Well, the seller even a little more, with the listing fee...

Buyer wins sometimes, Seller wins sometimes, Auction House wins 100% of the time

 

[Voda]

Here are results with added column showing estimated seller and auction house proceeds.
.
View attachment 58723

Nice spread sheet! Could be interesting to add in the auction house's "estimate" to see how many fall within, below, or above.

 

[centerpunch]

Not sure if this is redundant but here are a couple of lots (again, if this is redundant, I apologize)

Thanks- after this weekend I'll post one master spreadsheet summarizing the results from all these recent auctions.

 

[dbk]

Hammer Price reflects that a 2006 Heritage Ford GT at Gooding with 5,477 miles is sold at $384,500.

 

[centerpunch]

$384,500 sale price? So that would mean hammer $345K (I think buyer commission 12% up to $250K, 10% above that), so guessing seller maybe got $345 - 10% = $310,500 (minus entry fee, transport, etc.)

 

[GKW05GT]

The Heritage was not sold on block but all over the reserve. Must have sold off stage.

 

[centerpunch]

? What does that mean ?

 

[centerpunch]

That alleged selling price is suspiciously virtually identical to the 4900 miles heritage that sold at Mecum a week ago.

 

[twobjshelbys]

Thanks- after this weekend I'll post one master spreadsheet summarizing the results from all these recent auctions.

I'm glad you're watching the big picture here.

In the spreadsheet, would you be willing to include last year's sales, at least from Barrett Jackson? As I recall there were 5 Heritage GTs and a handful of others. It would be interesting to see the year-over-year trend.

 

[drilling]

Why are heritage devalued so much compared to before?
Base model seems to be affected but not as much as heritage.

 

[jaxgt]

Why are heritage devalued so much compared to before?
Base model seems to be affected but not as much as heritage.

Same exact car. Different paint

 

[jammer]

Why are heritage devalued so much compared to before?
Base model seems to be affected but not as much as heritage.

My theory is the multiple NGT Heritages have reduced the Heritage premium value of the FGT to that of an option. Even though the two cars are very different, the nostalgic value of the Heritage may have been reduced by the Heritage "saturation".

 

[twobjshelbys]

Same exact car. Different paint

I assert we are seeing the closure of the Heritage gap.

(PS: Post collision)