FGT899
GT Owner
I'd be nervous entering a 05/06 into BJ this year. Likely to be a blood bath and great opportunity for buyers!
Public service announcement: List of Ford GTs at upcoming auctions (with links)
- Thread starter centerpunch
- Start date
Iconic GT
GT Owner
Did I overlook them or miss an auction? Chip Ganassi #2 car, 2005 Quicksilver Serial #3, Cena's, and THE Riveria Blue are also up for Auction. I believe there are more for auction not listed.
I searched the auction sites and listed the cars I found. The Cena car and the silver #003 are listed in the first two posts of this thread.
There's a 2005 with no description in the Mecum auction list, not sure what that one is! I don't see any Ganassi car listed.
If you know of other cars at the auctions, give me links to their auction listings and I will add them to the lists.
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w.a.nelson
GT Owner
Is this a higher number of vehicles being sold than would be expected?
My thoughts have been that the market has been softening. Movement of all these cars should be a real indicator of what's going on.
My bad for not intending to watch, but will someone be kind enough to tabulate the $ results, and perhaps some narrative, after all the shooting is done?
My thoughts have been that the market has been softening. Movement of all these cars should be a real indicator of what's going on.
My bad for not intending to watch, but will someone be kind enough to tabulate the $ results, and perhaps some narrative, after all the shooting is done?
I probably won’t sit in front of my tv for two days, but after each auction I will tabulate the results and post here.
MK2_GT
GTX1 Owner
- Mar 25, 2006
- 795
twobjshelbys
GT Owner
With that many it pretty much is a fire sale. But... The owners have no say in a no reserve auction. I Predicted there would be more FGTs at Scottsdale than Vegas but not this many... Same with Mecum. I really think you guys looking for cars now should be taking a trip to Phoenix or Florida in the next few weeks. I got my Cobra by setting a limit on each car, and if it passed, so be it. I ended up getting the one I wanted for exactly what I had set the limit for that car and it was below market.
w.a.nelson
GT Owner
Ganassi is here, have not seen noticed that it is going to auction
canepa.com
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...
Here are some thoughts:
- The market for everything is soft. This is not conjecture. I think McLaren will actually pay you to take their cars at this point. The new cars are available at huge discounts and even the low production stuff like the Senna is repeatedly failing to get bid to MSRP at auction. A low KM P1 sold for under MSRP recently, which was unthinkable at one point. Lambo is similar. Go ask the dealer what kind of deal you can get on an Aventador S on the floor. Many Porsche GT cars are no longer commanding monster (or any) premiums over retail. A bunch of no sale 918s in the region a little over MSRP. There were a couple bust auctions of major collector cars overseas in the last couple months.
It really, really, really doesn't take a genius to figure out the primary driver of "why" - there are a crazy amount of high dollar cars to choose from. Too many. McLaren practically introduces a new thinly changed derivative every other month. My local Aston dealer has a massive amount of cars sitting on their lot with giant red discount tags hanging in the windows. You can buy untold 911 variations at $200k+. Hell, you can buy yourself any of a half-dozen different SUVs that are $200k+ now, a market that pretty much did not exist at all when the 05 GT came out. This is to say nothing of the recent opportunity cost of having dollars stuck in cars when you have to actively try to not get double digit returns in the market.
- Auctions are not representative of the retail car market. Auctions are not representative of the retail car market. Auctions are not representative of the retail car market. Auctions are not representative of the retail car market. Auctions are not representative of the retail car market. Auctions are not representative of the retail car market. Period. Many of these auctions are spectator sport as much as anything else.
My prediction for upcoming auctions - people will pick and choose whichever side of the numbers they like (buyer or seller), and it will all mean little relative to what actually happens in the retail market.
- The market for everything is soft. This is not conjecture. I think McLaren will actually pay you to take their cars at this point. The new cars are available at huge discounts and even the low production stuff like the Senna is repeatedly failing to get bid to MSRP at auction. A low KM P1 sold for under MSRP recently, which was unthinkable at one point. Lambo is similar. Go ask the dealer what kind of deal you can get on an Aventador S on the floor. Many Porsche GT cars are no longer commanding monster (or any) premiums over retail. A bunch of no sale 918s in the region a little over MSRP. There were a couple bust auctions of major collector cars overseas in the last couple months.
It really, really, really doesn't take a genius to figure out the primary driver of "why" - there are a crazy amount of high dollar cars to choose from. Too many. McLaren practically introduces a new thinly changed derivative every other month. My local Aston dealer has a massive amount of cars sitting on their lot with giant red discount tags hanging in the windows. You can buy untold 911 variations at $200k+. Hell, you can buy yourself any of a half-dozen different SUVs that are $200k+ now, a market that pretty much did not exist at all when the 05 GT came out. This is to say nothing of the recent opportunity cost of having dollars stuck in cars when you have to actively try to not get double digit returns in the market.
- Auctions are not representative of the retail car market. Auctions are not representative of the retail car market. Auctions are not representative of the retail car market. Auctions are not representative of the retail car market. Auctions are not representative of the retail car market. Auctions are not representative of the retail car market. Period. Many of these auctions are spectator sport as much as anything else.
My prediction for upcoming auctions - people will pick and choose whichever side of the numbers they like (buyer or seller), and it will all mean little relative to what actually happens in the retail market.
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nautoncall
GT Owner
- Apr 6, 2014
- 1,093
twobjshelbys
GT Owner
In general appraisers of real estate and collector cars do discount auctions and will include them only when there aren't enough comps, and then with with disclaimers. That is true until the exceptions become the rules, ie, the dominant market makers. For many years I would only include a bank foreclosure or short sale with extreme caution and disclaimers, even going out of the region to find a similar comp. That worked UNTIL those foreclosures and short sales dominated the market. It's very hard to claim a house is worth 500K when two short sales next door for 300K and two more around the corner for sale unsold. With what, over 15? Ford GTs coming on the auction market inside a week, it would be difficult for anyone getting a formal appraisal to not have the auction numbers factored in. But we don't know what will happen!!! The fact that someone is flipping mine says they think it was an anomoly and still believe there is profit to be had. I don't know. Time will tell.