Current State of GT40 Market

[Seymour Snerd]

I think a clean SPF Mk1 would bring in excess of $100K quite easily and some cases more. .

In the several months while I was searching for my roller and watching the market carefully, there were several SPFs with that kind of asking price that just sat on the market for months. So I'd go along with you if you deleted the "quite easily" part. OTOH, now that lead times are 12 months things may be better for used ones. But somehow you have to persuade your buyer not to wait for yet another auction where he can pick one up for $70K. It might be a long wait.

 

[Mike]

I still think a good but run-of-the-mill LHD 427 Windsor SPF should sell a chunk under parts cost, say $90K But what do I know?

Fire away!

Okay... a replica is a replica. If its not original its value has little to do with accuracy. It much more to do with its condition and having components manufactured or installed by a well known mark. A Roush 427 Windsor RBT propelled Mk1 that is in good shape will have more value on the open market than anything else you have mentioned. It will appeal to a far greater audience and hence the demand will be higher yielding a greater return. Sorry, not many place higher value on RHD Mk2 FE powered cars. A nice clean Gulf Racing SPF Roush 427 RBT car will dominate the market period!

 

[Mike]

In the several months while I was searching for my roller and watching the market carefully, there were several SPFs with that kind of asking price that just sat on the market for months. So I'd go along with you if you deleted the "quite easily" part. OTOH, now that lead times are 12 months things may be better for used ones. But somehow you have to persuade your buyer not to wait for yet another auction where he can pick one up for $70K. It might be a long wait.

Show me an SPF Roush 427 powered Mk1 that sold for $70k. An FE Mk2 maybe...

 

[Seymour Snerd]

I would not expect them to return a profit anytime soon.

Who said anything about profit? I think the original question was about price. To talk about profit we have to know cost, and nobody but Charley Farley and a couple other people know what it costs to build up a meticulous replica with all those CAV gauges and NOS Marchal lights, etc. etc etc. It's a different world.

 

[Seymour Snerd]

Show me an SPF Roush 427 powered Mk1 that sold for $70k. An FE Mk2 maybe...

I'll show you mine if you show me yours.

 

[Mike]

You said $70k correct? Can you point to any specific examples? Has nothing to do with profit. It has to do with what is the return on the initial investment. Mostly likely will not be a profit for any mark in the near future. That said, I'll take a clean Roush 427 SPF Mk1 twenty years from now to offer a profit over anything else out there.

 

[Rick Muck- Mark IV]

(who buys a 6-figure frivolity and is then willing to wait over a year to take delivery?)

Pretty much every Ferrari Italia buyer. 18-30 months for a custom order. Over list for one off the floor.

 

[Seymour Snerd]

You said $70k correct? Can you point to any specific examples?

Yes, there were two auctions in 2012, one at Monterey in August at Barret-Jackson, where reasonable SPFs went for about $70k. Just do a search. There was a fair amount of discussion about the first one. I don't recall the details of the second, but I'm sure others do, and that if you look you can find it.

BTW the original idea of this thread was to track actual sales and early in thread you will see several recorded. If you know of any please cite them.

 

[Mike]

Those were both Mk2s not Mk1s. Please show me a Mk1 that sold for $70k.

 

[Seymour Snerd]

Pretty much every Ferrari Italia buyer. 18-30 months for a custom order. Over list for one off the floor.

That's a different mentality enitrely that the Ferrari marketing machine has been cultivating and perfecting for years. Is has more to do with dick-measuring-with-my-wealthy-neighbors and reading the Robb Report than anything else. Those people would make us people use the service entrance and would be terrified that our GT40s would leave an oil spot in the driveway.

 

[Seymour Snerd]

Those were both Mk2s not Mk1s. Please show me a Mk1 that sold for $70k.

Why? This is the third time you've asked essentially the same question (see posts 283 and 286). What are you driving at?

 

[Mike]

So then we agree that there are no SPF Mk1s that have sold for $70k? How about less than $100k? You come on these threads and go on about how everything sucks and the cars aren't worth anything and Ferrari owners would make us use the side door. Most of what comes out your mouth is nonsense Alan. Please scan the following link for SPF cars being offered for $70k...

http://www.cobracountry.com/home5-GT40sForSale.html

 

[Seymour Snerd]

So then we agree that there are no SPF Mk1s that have sold for $70k? How about less than $100k? You come on these threads and go on about how everything sucks and the cars aren't worth anything and Ferrari owners would make us use the side door. Most of what comes out your mouth is nonsense Alan. Please scan the following link for SPF cars being offered for $70k...

427 Cobra Country--Ford AC Cobra replica manufacturers SUPER-SITE

I can't agree to that because in order to do so I'd have to know about every Mk I sale that ever occured. I've cited sales I know about. You've cited none. If you can cite some actual sales it would be valuable input. Asking prices are irrelevant.

MIchael, I'm sorry this is making you so unhappy, but I don't find the "I say everything sucks" or "most of what I say is nonsense" claims either plausible or civil. I didn't buy my car as an investment, so discussing the near certaintly that it's a large money loser doesn't bother me, and I believe there are others here that are comfortable with that reality as well. If it bothers you that much perhaps you'd be happier blocking my posts. It's not hard to do and I think it's overall a better solution for everyone than argument-by-rude-personal-attack.

 

[Mike]

Not asking for every sale Alan. Just one...

The only sale prices that are out there are those Mk2s that sold at auction. Private sales which make up the bulk are not published. You are drawing conclusions based on outliers that do not truly represent the market.

 

[Mike]

I didn't buy my car as an investment, so discussing the near certaintly that it's a large money loser doesn't bother me

Its not a near certainty that these cars are large money losers Alan. I'm very happy and content in knowing that. Would your car be available for $70k? I know several people that would be interested.

 

[Rick Muck- Mark IV]

That's a different mentality enitrely that the Ferrari marketing machine has been cultivating and perfecting for years. Is has more to do with dick-measuring-with-my-wealthy-neighbors and reading the Robb Report than anything else. Those people would make us people use the service entrance and would be terrified that our GT40s would leave an oil spot in the driveway.

"Our" beloved 40s are under the radar of most Fazzaz/Lambo owners. As we don't offer an automated gearbox and the forty doesn't look good in chrome paint, most rappers and teenybopper "singers" are not interested. Therefor we are looking at a smaller, more concentrated potential market. The papparazzi can't get good pictures of us in our cars as those pesky side windows don't roll down and Britney or Anne will ALWAYS be "shooting a beaver" crawing into a 40 so they are not inclined to ride along (unless their press agent needs some coverage!)

Short of it is, we have a smaller customer base but one that understands and appreciates the car be it for the history, race heritage, design or whatever.

 

[Mike]

I think once the little button is pressed and a GT40 comes to life, the rapper/Hollywood types are going to be running for cover while the real car enthusiasts are running towards whatever is making that glorious sound. I guess that is why I took umbrage with Alan's remarks regarding Ferrari owners. I had the pleasure of meeting a gentleman last summer who owns an F40. He was as excited to ride in my GT40 as I was to ride in his F40. A real car guy/girl is just that and they come in all flavors and sizes, rich and poor. I think using a couple auction prices for cars as unique as these does not yield a remotely accurate picture of the true market. One who is desperate will do desperate things if they need to liquidate an asset. Selling a GT40 at a no reserve action is pure desperation. Looking at the asking prices over many private offerings I believe is a much better barometer as to what the market is doing.

 

[Seymour Snerd]

Would your car be available for $70k?

I never made the statement you're trying, over and over and over, to get me to defend. But you keep gnawing at that bone, someday it will turn into a rabbit you can chase around the yard.

 

[Ron Scarboro]

Show me an SPF Roush 427 powered Mk1 that sold for $70k. An FE Mk2 maybe...

FWIW, The sum parts for both of those cars are worth well more than $70K. An FE powered MkII will be worth more than a roush 351based Mk1 in the long run as I believe the more honest the replication the better the long-term value will be. The problem with the MkII will be it is unlikely to have an accurate transaxle. The problem with the Roush motor is that it isn't particularly honest to the original power in a Mk1 in either in carburetion or engine specification.

However, I suspect neither will be collectors items in the long haul right now. Evem IMHO if they stop production.

Best,

Ron

 

[Seymour Snerd]

I took umbrage with Alan's remarks regarding Ferrari owners..

Oh please....Some of my best friends own Ferraris. I have to admit they all kinda look alike though. And I think it's really rude of you to make snotty remarks about my Hollywood and Rapper friends. They like my GT40 too. And my Ferrari.