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

[SBR]

Looks like a 600 mile heritage hammered for 390K, a black no stripe with 300 miles went for 305K and a 2 mile white one sold for 340K. These do not include the buy fee. The Cena NFGT was a no sale at 1 million.

 

[Specracer]

How many owners so far? Sigh.....

The Cena NFGT was a no sale at 1 million.

 

[GT@50]

Thanks for posting results.
I'm headed to BJ to check out the GT's. I haven't seen one in 2 years and have never seen the NFGT. Unless there's a great deal to be had I doubt I'll get one. I really want to see a Tungsten car before buying but BJ doesn't have any. There's a silver 2005 VIN 003 for auction but will probably be too high. It sold in 2016? for $600k+ at auction.

 

[Awsum GT]

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.

Wondering if the values at auctions are representative of the retail car market?

 

[Gene Cassone]

Can’t believe my 05 GT will be “15” in April!
Bullitt mustang went for 3.4m today!!

 

[twobjshelbys]

A few on mecum. Happy sellers I think.

 

[2112]

Don't forget $3.4M plus fees for a 52 y/o, ridden hard and put away wet, movie Mustang.
.

 

[MK2_GT]

All the BJ ones are Saturday the 18th. Are you bidding? Sunday, 19th.

not bidding but would like to keep tabs on it.

 

[twobjshelbys]

Don't forget $3.4M plus fees for a 52 y/o, ridden hard and put away wet, movie Mustang.
.

Yeah but that movie was bullitt ... best car chase scene ever

 

[jammer]

And the driver was the king of cool himself. A brown Country Squire would've brought good money had Bullitt drove it in that movie instead of the Mustang.

 

[2112]

Yeah but that movie was bullitt ... best car chase scene ever

And the driver was the king of cool himself. A brown Country Squire would've brought good money had Bullitt drove it in that movie instead of the Mustang.

Agreed on both counts, but considering the condition car, still shows that can happen at auction when the car is special enough.
.

 

[nautoncall]

I just watched the auction on YouTube. That car was rough but sure sounded mean!! Can’t believe the owners family had it for 45 years.

Sean Kiernan explains why he’s selling the Bullitt-movie Mustang

Family’s famous movie ‘hero’ car, driven in Bullitt by Steve McQueen, will cross the auction block in January at Mecum’s sale in Florida.

journal.classiccars.com

 

[texas mongrel]

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.

Another reason for softness in the collector market is the stock market. When stocks suck people with money look for more speculative ways to get a return. But when any idiot can get 20%+ in stock, why risk a car investment?
BTW, totally agree about McLaren - their dumb “25 in 5” strategy (25 new models over five years) guarantees values that sink like stones. Mine was the lousiest investment ever, 275 in, 85 out, but even at that sucky sale price I was so happy to see it go.

 

[dbk]

Another reason for softness in the collector market is the stock market. When stocks suck people with money look for more speculative ways to get a return. But when any idiot can get 20%+ in stock, why risk a car investment?
BTW, totally agree about McLaren - their dumb “25 in 5” strategy (25 new models over five years) guarantees values that sink like stones. Mine was the lousiest investment ever, 275 in, 85 out, but even at that sucky sale price I was so happy to see it go.

Give me some credit Dave!

Here are some thoughts:

.....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.

 

[FGT899]

Thanks for posting results.
I'm headed to BJ to check out the GT's. I haven't seen one in 2 years and have never seen the NFGT. Unless there's a great deal to be had I doubt I'll get one. I really want to see a Tungsten car before buying but BJ doesn't have any. There's a silver 2005 VIN 003 for auction but will probably be too high. It sold in 2016? for $600k+ at auction.

If you will be out here in Scottsdale next week shoot me a PM and I'd be happy to show you my Tungsten GT in person.

 

[GT@50]

If you will be out here in Scottsdale next week shoot me a PM and I'd be happy to show you my Tungsten GT in person.

That'd be awesome. Will do, thanks.

 

[texas mongrel]

Give me some credit Dave!

Your prose is so masterfully written that the words sometimes slide into my brain without registering! Is that enough credit for you?

 

[jaxgt]

You two crack me up

 

[dbk]

Your prose is so masterfully written that the words sometimes slide into my brain without registering! Is that enough credit for you?

Just pointing out that great Daves think alike.

 

[HighHP]

This car sold at Barrett Jackson Vegas in October and again yesterday at Mecum Florida. BJ buyer fee is 10%, seller fee is 8% plus time and day placement fee, as I understand. Mecum buyer fee is 10%, seller fee is 6% without reserve and 10% with reserve plus time and day placement fee, as I understand. The table below assumes 10% buyer fee and 8% seller fee for both. No placement fees.

2006 Ford GT Heritage Edition for Sale at Auction - Mecum Auctions

View the 2006 Ford GT Heritage Edition for sale at Kissimmee 2020 in Kissimmee, FL as S213.

www.mecum.com

	BJ Vegas​	Mecum FL​
	10/5/2019​	1/11/2020​
Seller Received	$271,400​	$312,800​
Hammer	$295,000​	$340,000​
Buyer Paid	$324,500​	$374,000​
Auction Fee	$53,100​	$61,200​