GT40 Values?

pinsmark · 23rd June 2003, 10:14 AM

I'm looking at an ERA GT40, recently finished by a restorer with whom I am well acquainted. His work regularly wins top awards at national level shows, and I know and have verified that this car is as perfect as you will find. My question is, what would be a fair market value of such a vehicle? Tough question I know, but I'm mainly looking for opinions here, not qualified appraisals.

Mark Worthington · 23rd June 2003, 11:11 AM

$85 to $95k. Possibly more if it were sold into a feeding frenzy at Barrett Jackson.

Just my $0.02.

pinsmark · 23rd June 2003, 01:56 PM

Thanks. I guess I should have included more info on the car: It has a fresh, carburetted 302 (no Webers), bundle O snakes, ZF, pin drives, new leather interior, re-sale red paint, AC. Not sure of the suspension & uprights. Maybe 100 miles since completion. The deal may involve trading my $30k Pantera + cash for the 40.

LloydGT40 · 23rd June 2003, 08:42 PM

Mark

I would think the value of a new ERA GT40 would be $120k plus. GO to their web site(erareplicas.com) you can do the Math. With the basic kit at $55K paint $10K, ZF 7K, Pin drive wheels $6.5K, leather interior $2.5K, tires 1.5k, headers 3.5K, a/c 3K, Engine depending how fast 10K. Plus plus plus. I have one being build as we speak, I'm estimating $100k with me doing the assembly work. I understand ERA sells their turnkeys for $130K.
Hope this gets you in the ball park for pricing
Also keep in mind 2-3 year wait list for a kit. I have heard of line positions selling for $15K

LLoyd

Jim Rosenthal · 23rd June 2003, 09:59 PM

I have to respectfully disagree. I don't think a car is necessarily worth the added-up cost of the various items that went into it, although some may be. As many, myself included, have found out, it is easy to get 'upside down' in projects, especially limited-appeal projects like GT40s.
Of course they appeal to all of us here, but that's why we're here; most people aren't interested and the resale market is small.
The problem with doing a car like an ERA on spec is that most people, for that kind of money, want things exactly as they choose, not 'close' to what they would have picked on their own. (I think this is why so many GT40s get repainted.) I think a fully done ERA is not worth 120K or anything near it; I think 85-90 is a lot closer to the mark. After all, you can get an RF finished out for less than that, and it is every bit as good a car as an ERA, with fit and finish at least as good.

Ron Earp · 24th June 2003, 07:06 AM

There was a complete ERA that just sold, maybe 6 months ago? It was listed here and on Cobra Country at some point. One of our members was looking into it and the asking price was less than $90k. It did sell, but I don't know if for the asking price or less. Spec was slightly better with Webers. A search should turn up the discussion on it.

I don't think any GT40s will be selling for the lofty values that they brought just 2 years ago. There are too many manufacturers on the market now, and, despite the fact that I feek ERA builds the best car there are fantastic ones on the market now that offer a serious advantage in bang for the buck while not giving up anything in the looks/design department. Just my 0.02,

R

pinsmark · 24th June 2003, 09:34 AM

All good points. I know that "upside down" feeling, as I have sunk more $$ than I should have into the Pantera, which also has a limited market base. That more than anything is my concern here. Plus, I think the only non-auction venue at which to sell this car for top dollar would be in Monterrey during the Historics/Pebble Beach weekend. I also think the guy with the V6 GT40 was spot on about selling in Monterrey.

LloydGT40 · 24th June 2003, 01:09 PM

Mark
One thing to keep in mind. If the guy is a pro and not a hobbyist he's not going to sell for less than he has invested. A pro will be trying to cover labor. A luxury a home builders can't pass on. I guess the price boils down to taste and how soon you want to be driving.

Lloyd

dawsongrant98 · 25th June 2003, 05:45 AM

Having read all that, here is my question. What is the view of the CAV cars compared to ERA? Being somewhat of a novice in the GT 40 area I'm very curious.

Mike Dozier · 25th June 2003, 12:27 PM

I've not seen any CAVs change hands yet, but I would expect their resale value to be high basis the history of the SPF Cobras, and the fact that the CAVs are good values to start.

However the ERAs are worth more since they are more authentic (ZF trans for example). The price difference size
between a CAV and a comparable ERA is subjective depending
on personal tastes as Lloyd pointed out.

MikeD

Ron Earp · 26th June 2003, 10:40 AM

I think it is hard to say with the CAVs what the "worth" will be. They are readily available, therefore, purchase the roller and go from there. If any car will be worth just the sum of the parts the CAV seems like it would be the most likely candidate - supply is good, price is reasonable, and they are a good buy. Roller at around $65-70k, you can go from mild to wild on the engine, but I don't see any reason to pay more than what you can get a new one for.

I know one went across the auction block recently at some ultra high number like $118k. Either it was a fluke and that guy is kicking himself now or it had a $50,000k motor and Audi transmission in it. I kind of think the former is more correct.

Ron

Ian K · 26th June 2003, 11:51 AM

CAVs can have ZFs as well, as it is an option.

The CAV is a well put together machine, but there are some
features on the ERA that stand out. The interior ventilation
(including rear vent with catch/drain tube) is fantastic, and
their fibreglass work is stupendous. Not knowing the exact
details of the CAV fibreglass techniques, the ERA gaskets
and epoxy bonds the inner and outer panels together, rather
than glassing them as most companies do. This makes the
body more durable.

Also, the NACA ducts on the front are plumbed correctly
as a standard feature, CAV IIRC does not do this standard.

But, the AC unit in the CAV is much nicer than the ERA
unit.

For the most part, since the GT40 replica market is still
small, with the current owners well aware of what they have,
since the ERA is more expensive to start with, they will
most likely resale higher.

Just my thoughts.

Ian

VICTOR A · 28th June 2003, 08:21 AM

I have seen many a GT40, there are 2 original cars near here.Been to the Elkhart Lake Vintage events and there were plenty at the track. I was all hot to buy an ERA, the the price rise every time I was ready to buy and the wait turned me off. I just went to look to see what the CAV40 was like when I went to the dealer in Detroit. I was very much impressed and I could see nothing I didn't like. For the money it is a good looking car, and I am a sucker for polished stainless. The owners I have spoken with all seem to like the car. I am not buying the car to resell or race. I just have always wanted one.
Did see Hershal's car at the Spring Fling and it is very nice also, but I didn't want build and drive next year. I want to be on the road soon. I don't think the market will get saturated with these cars, so the price should stay up.

Ron Earp · 31st July 2003, 05:52 PM

ERA GT40 ERA GT40 on Ebay