1966 GT40? Yeah Right!

[scott]

Originally Posted by Canuk40

I agree with Pete's original comment that the marketplace will decide.

The marketplace consists of buyers and sellers of a commodity. In this case the commodity is a GT40 recreation available in a broad range of completion, accuracy and performance.

The buyers are enthusiasts first and foremost as owning a GT40 is pure indulgance.

The right product for one person may be a 1/12 GMP model of 1075 whereas another will settle for nothing less than a spot on recreation, accurate to the last detail even if it takes 10 years to find all the right parts. Everything else is in between.

The sellers have to respect the buyers opinions and purchasing power to succeed. This applies to manufacturers as well as car or parts owners looking to sell.

The buyers have the power to drive a marketplace up or down according to his own standards.

There will inevitably be blips in any marketplace, particularily noticable in niche markets where a large deviation in price gets attention.

Like I said, the SPF GT40 could have gone at or over retail but the right guys weren't there (at B-J Palm Beach), same goes for the Kirkam. These cars are built by dedicated guys who've probably spit blood to see the product come to life. It's a shame but only a blip in the market. AND a couple of guys must be pretty happy with thier purchases!

It seems to me that for the most part, the GT40 replica marketplace is supported by manufacturers of excellent products and customers who appreciate what quality costs. Sellers offering junk suffer the consequenes and buyers expecting fire sale prices will be disapointed as no one caters to that buyer.

The current choices in GT40s replicas represents a higher quality, more complete and accurate product than has ever existed before so now is the time to buy. But what's right for you and don't get your knickers in a twist over future values or depreciation ( in which quality GT40s do better than most heavy metal anyways).

That's my opinion as someone heavily committed to this marketplace, not a sales pitch for my company or any other.

Cheers

Respectfully Ian, aside from your comments about dedicated builders and excellent quality the fundamental point of this thread is current resale values. You are suggesting that the 80K price for the SPF was extremely low and the car is worth a lot more. I suggest it is not given the current market. The last few months have seen quickly declining prices on these and other performance cars. Look at the Z06 and Ferrari 360 markets. Brand new 2008 Z06's for low 60's and early Ferrari 360's dipping into the 80's now. What current actual resale examples of GT40's do you have to support your position? How about the fact that 224 with its 427 bid to only 90K yet the sale didn't go through and it is still for sale?

Perhaps JohnG could weigh in on 2174 and 2175. Has either car actually sold? If so maybe it sold for over 120K like he originally hoped?

[Iron Sheik]

Malc “young” Chap, as the “English” would say,,, SPOT ON, with couple of minor exceptions!
GTDs are not rare in my area, in fact there are 4 (or more) within 30 miles of me. The only consolation I have is that none of them are the BUTT UGLY Gulf Blue (or UPS brown!) colors (praise Allah).

As for Francis, he is a smart chap (unlike me). He realizes in 5 years, there will be enough GT40s around that very few people would take a second glance. Hence, his other VERY INTERESTING projects.

All the GT manufacturers make FANTASTIC cars, but SOOO WHAT?! When I try to sell mine, I am certain the buyer could not care less that I spent 7 years building it. He will look at the STuperformance’s “real plastic” and will expect my plastic to be 15 grand cheaper about 50K (If I am lucky)

There are 427 FE Cobras out there with better suspension, looks and performance than Shelby’ originals. And they are less than half the price they originally sold for. I am sorry Ian, the parallel between the Cobras and GTs is there, sadly! Have you wondered why transaxle manufacturers are popping out, left and right?!

IMHO, if you really want a great GT40 Replica, Kit, Plastic, “continuation” (what ever), WAIT and buy a used one. It is not as if you are going to get one with a dented bumper and cracked windshield. 90% of the owners of these cars (in USA) are like the FAT Harley guys, they drive them from home to Starbucks and back. You will get a car that is registered, sorted, has a whopping 5k miles and can be resold for almost the same amount of money you spent to get it.

P.S Francis, you can keep me at the shop, I want a unique 917. But by the time I am done with it (boom box, fuzzy dice and hydraulics), Graham will be chocking on his Darjeeling tea

[Canuk40]

Scott, I can't argue you're point about current market conditions affecting mainstream cars. How many people are impressed, startled or amazed to see a 360, Guilardo or Corvette these days?

It's fair to say that GT40s still out WOW anything else on the road. It's not just about the chick magnet property or member extender, they're just magical to drive (at least my sorted out CAVs are ).

If the right to command a high price is rarity, then how many can exist before it's no longer rare?

It's great to see other historically significant sports / race cars being re-introduced in some form or other. That keeps the pot stirring and gives a new generation a chance to experience cars that will never be mainstream again.

There is merit in building simple cars like Cobras, Lister Chevys, Lotus Sevens, Porsche 356 etc. The trim and driveline parts are inexpensive and the car is a lot easier to build. Plus you've got a "unique" though not rare car at a price far below more exotic types.

The collector car market must be close to the top right now so we may see old 'Vettes, Jags, Shelbys, SS Chevs, GTOs, Hemis etc. coming back to earth and again accessable to the people who enjoy the cars rather than speculate on them.

Cheers

[40 Bud]

Now you 've done it Malcolm. Farhad will be out getting quotes this weekend. It should be a lot cooler than the Black during the summer!

[Howard Jones]

I look at it like this. I built my own car. I as as close to complete as it will ever be. I took 6ish years to do it. I have about $55K into it. I can drive it an easy 10-15 more years and I believe I will be able to get my money back if I sell it then. (lets not get into the discussion about inflation adjustments and investments, hobbies are not investments).

Not a bad Hobby.......Free

[Cliff Beer]

My only comments here would be that there is no rack price for a GT40 in general, and, particularly not so for any one particular manufacturer. It's a very small market so it depends more on just who happens to be looking to buy in a particular time frame and who happens to be selling. This would be in contrast to a 2 year old corvette or new suburban - these cars have enough volume of buyers and sellers that there is a rough "blue book" price range.

I bought a really nice CAV with 3,000 miles on it for $50,000. I would have paid $60-70,000 for it but the buyer really needed to sell so the price reflected that need. My purchase didn't define a "blue book" price for a CAV, that's just what the economic price curves generated that day.