What is this worth?

[Enzo101]

Hello,
Just looked at a 05 GT and am trying to gauge what a reasonable offer would be.
2005 GT
17,600 miles
Black on black
Hood has been repainted
Condition is good but driver seat is a bit worn
VIN 1FAFP90S35Y400838
I will try and post pictures on the comments.
He's at $290,000 which seems really high.
Any help is greatly appreciated.

 

[extrap]

Always seems high when you're the buyer

With no pics and making a lot of positive assumptions on condition, maybe $260k-$270k. Obviously the mileage alone knocks it down some.

You can check many recent sales here https://bringatrailer.com/listing/2006-ford-gt-25/ ... and add $5k to each for the Buyer's Fee (5% but capped at $5k).

Here's a black on black 32k-mi GT that sold 11/5/20 for $210k ($215k w/fee) https://bringatrailer.com/listing/2006-ford-gt-25/ ... which maybe seems low.

But here's a white/blue 7k-mi GT that just sold 2/19/21 for $306k ($311k w/fee) https://bringatrailer.com/listing/2005-ford-gt-31/ which maybe seems high ... or is that just where FGT prices are heading. Who knows.

If you assume his $290k 'asking' price is 5% high just cuz it's asking, then he'd take ~$275k. And if he might come down 10% then that'd be ~$260k.

Good luck! Post the results

 

[mach1pannu]

Always seems high when you're the buyer

With no pics and making a lot of positive assumptions on condition, maybe $260k-$270k. Obviously the mileage alone knocks it down some.

You can check many recent sales here https://bringatrailer.com/listing/2006-ford-gt-25/ ... and add $5k to each for the Buyer's Fee (5% but capped at $5k).

Here's a black on black 32k-mi GT that sold 11/5/20 for $210k ($215k w/fee) https://bringatrailer.com/listing/2006-ford-gt-25/ ... which maybe seems low.

But here's a white/blue 7k-mi GT that just sold 2/19/21 for $306k ($311k w/fee) https://bringatrailer.com/listing/2005-ford-gt-31/ which maybe seems high ... or is that just where FGT prices are heading. Who knows.

If you assume his $290k 'asking' price is 5% high just cuz it's asking, then he'd take ~$275k. And if he might come down 10% then that'd be ~$260k.

Good luck! Post the results

Adding to this, check sources outside of BaT as well, i.e. Autotrader, Cargurus, etc, BaT can get a little emotional. You will find most listings are in the upper 200's. All you can go by are comparables, how long cars are listed for sale at a particular price, and history.

 

[roketman]

Whatever car you decide on I recommend that you get a prepurchase inspection by someone who knows these cars.
there were several good people who could perform that for you depending on where you are in the states.

 

[kumar]

Prices in general for all high end sports cars (and other luxury goods like watches) are a good 15-20% higher right now than they were in summer of 2020. I would guess that was a $230-240k car last summer that could fetch $275+ right now.

 

[extrap]

Prices in general for all high end sports cars (and other luxury goods like watches) are a good 15-20% higher right now than they were in summer of 2020. I would guess that was a $230-240k car last summer that could fetch $275+ right now.

That also seems to be true. Seems like the coronavirus has people throwing caution to the wind and living for the now, or all the stimulus bucks is causing excessive spending(?) ... or both.

 

[PeteK]

Send to the seller the link above to the 32Kmi GT that sold on BAT 3 months ago for $215. Then offer him $250K.

 

[nota4re]

IMO, the car's condition and history should be the primary factors influencing price - NOT miles. We have worked on a couple of hundred GTs and the condition of the cars vary widely and very often has absolutely NOTHING to do with miles. If the black car you are looking at has minor seat wear and is otherwise pristine with a good history, it is likely worth every cent of the $290 asking price. Conversely, it is easy to imagine a similar car with maybe 1/3 the miles but with a sketchy background that I wouldn't pay $200 for.

 

[roketman]

My car is a perfect example of pristine with mileage

 

[Art138]

There is a 11,500 mile red GT with an open carfax report for 294.500 thousand on the Internet. I see few cars over 10 thousand miles for sale. Most under 7,000 miles.

 

[Enzo101]

Thank you everyone for helping me out. I decided to pass on it. I've got a couple others in better condition for less that I'm looking into currently.