GT40 in Troy, MI. Classic Auto Showplace

Jim Rosenthal

Supporter
I suspect this car has been kicking around for a while. Not that many years ago, there was an identical (to my eyes) GT40 for sale, and I called on it. I was told that it was an ERA car but with a lot of "original parts". Considering that the only things you have to add to an ERA of that vintage are the engine and transmission, how many original parts WERE added? And who certifies their originality? All ERAs are set up to take a ZF transaxle, and most of them came from RBT. Back at that time they rebuilt early series ZFs, so that is likely what it has. No doubt they found a period engine block- they were easier to find back then. Hell, I found mine for $250 five years ago. (of course I spent another eight or ten grand INSIDE the engine, but I didn't have any trouble finding a period SBF block) I think this is the same car. they haven't built mild steel tubs for a while, have they?

If I were looking at this car, I would be interested in seeing what brakes it has. I think most ERAs from that time have Delco brakes actually from Corvettes. I'd like to know.

I think they are asking a champagne price- a Moet&Chandon price- for Budweiser. There's nothing wrong with drinking Budweiser, but not at $140/bottle.
 
Hello everyone,

This whole thread sounds like a person that bought a great GT 40 car, had it a period of time, then decided to sell it. For whatever reason.....

So what kind of a price do you put on a car like this? For people that are regulars to this forum, placing a realistic price would be an easy thing to do. But if your interests are not as close to the marque as they were when you bought the car, I would imagine the first thing a person would do is to ask for other peoples advice. Doing that will obviously bring a wide range of suggestions. Especially if any sugestions are from dealers.

So here you have it. The owner probably bought the 40 when prices were reasonable. (I can't believe I just said that!). The answer to his questions were anywhere from ........"sure, you should be able to double your investment", to...."You'll be lucky to sell it for what you are into it," and sat back waiting for the big bucks to roll in based on the double your money therory.

Face it, it is easer to come down, rather than wish you would have asked a higher price, right? So, does this term ring a bell for anyone? "Their is a bucket for every seat!"

I hope the owner finds the right guy with a big enough bucket to include space for the big wallet. Wait a second....I hear violin music.

Bye now,

Gary
 
Gary

The US is a free market society....you can ask whatever price you want.
The problem with this offering is the misleading description,
which sometimes results in pain for all of us in the "replica" world.
It would be best if the ad was modified before the lawyers get involved.

MikeD
 
Mike,

I agree with you 100% about how the ad represents the car, which is questionable, and the problems that follow in the wake and aftermath down the line.

My point was if someone is asking top dollar for their ride, which may be based on input from another party, and the seller did not place the ad, the seller may benefit from the deal, if the buyer has a big piggy bank and a deal is finalized.

At this point, does anyone know for sure if the owner has commented or offered any information regarding the history and construction of the car?

I guess either the dealer will step up to the plate, or the seller will do so one way or another....sooner or later. Maybe someone is close to a deal. Only time will tell.

____________________

Gary
 

Rick Muck- Mark IV

GT40s Sponsor
Supporter
My guess is the dealer dosen't want to hear it/know. A couple years ago a local specialty car dealer had a "Shelby GT350 R model" consigned to his auction. I was familiar with the car, it was NOT an "R" model, nor even a real Shelby. The list of errors and giveaways is too long to type!

Knowing the dealer and that he is not a bad guy, I called him about the adverts running touting the "Shelby R model" at auction. Told him what I knew, that the car was not even close to real and his reply? "We list based upon the sellers representation and if there is an issue, it is between the buyer and the seller, we are just the conduit."

Dealers defense, "I just represented what the owner told me."

Rick
 

Ron Earp

Admin
They never replied to my email about the car explaining in short the situation.

The problem will come after the owner owns the car, and starts searching the net for fun about GT40s. Then they are going to find this post.

Ron
 
I never heard back either, Ron. No surprise. I tend to agree with Rick's assessment - the "dealer" will simply say later when there's any question, "Hey, I only listed details based on the seller's comments."

Anybody besides me wondering why the current owner/forum member didn't post it for sale on this forum? Probably because he knows everyone would bust him on it - i.e. it's not "real", you're asking too much $$$, etc.

Hope any potential buyer has as much brains as money to avoid getting taken.

Mitch D
 

Jim Rosenthal

Supporter
Yes, it would be a shame if someone bought it at the price they're asking or anywhere close. It's probably a nice car for roughly .35-40 on the dollar of the asking price, maybe even less than that...
 
Wow! I am quite surprised at the passion this car has pulled from the Forum. I happen to be GIO, or James, and own this car. I was an early member of the Forum, when I originally tried to help numerous Forum members with their exhaust problems they had with a guy named George, who had taken a lot of Forum member's money, then produced very little or no exhaust parts. At that time I had exhaust systems ready to ship , yet not one Forum member even emailed or called to ask a single question about what I had available. I found that very curious.

But for the matter at hand, I thought I'd try to answer some of the questions/complaints that members have written:

The Price: I specifically instructed Classic Auto Showplace to present the car under "offers being accepted" terms. I wanted the market to determine the selling price, in other words, it will sell if an offer ends up matching the value that the car has to me, personally. But that value is something I consider private. Thus, no listed selling price. As well, I don't mean in any way to disparage Classic Auto Showplace. Dave Klak, owner, is a great guy, very honest, as far as my involvement with him. I asked Dave to focus on all of the things that I believe add to the value of the car, outside of being based on an ERA. As C.A.S. earns its living on commissions of sold cars, I think his personnel are being aggressive, pushing the envelope, when quoting $250K. But we all know, you can never ask for more.

The Provenance: I don't believe that I have ever intentionally tried to obscure the fact that a good part of this car is ERA. Whenever I have had any serious discussion about this car with an interested party, its ERA "heritage" has always been part of the dicsussion. Ask Fran Hall. Or Gordon Good. Or Lyn Larson. Or Doug Kirk. (Thank you, Doug, for all of your help over the years!)

The Ford Connection: Many of you know that Ford Of England owns an original GT40, which chassis number escapes me at the moment. This car has been in Ford's ownership since the day it was manufactured by FAV or JWE. It was in Dearborn in late 2000/early 2001 and was being utilized by the Petunia design team as the design guide for Petunia (I assume you all know Petunia). Ford of England called it back early 2001, before the desing team was able to translate the soul of the GT40 to the Petunia clay model. Some of you have probably seen photos of Petunia as it existed in the spring of 2001. It is pictured in Edsall's Ford GT book on pages 44/51. As it has been related to me by the Ford GT Chief Engineer, the Petunia design team fully lost their way on the clay by summer 2001, without that design guide. (I think we can all be happy that this wasn't the car Ford tried to produce as the Ford GT). Ford became aware of my car and I was contacted by the Chief Engineer with a request to bring it to Dearborn, September 2001. While my car was in the design center, the Petunia design team re-calibrated their thinking with my car as their reference, and found a path back to the spririt or soul of the GT40 in the clay model that ultimatley became the Ford GT concept (I believe the photo on page 69 was taken on one of the days I and my car were in that studio). The Ford GT chief designer related an interesting story to me, that one day the team was milling about the rear of my car, when they suddenly saw the key design element, that when translated to the clay, all the rest of the pieces fell into place, and today we have the Ford GT. I'd say my car played a fairly significant, essential role.

As for the photo on page 70, with Ben Levy's car in the background, well, there's a whole nother story behind that. Ready? ...In, I recall, late October of 2001, 2 months after my car arrived at the design center, a "Ford 100 Years Of Racing" celebration took place at Greenfield Village, in Dearborn. Photos here: Shelby American Automobile Club - Motor City Region - Ford 100 Years of Racing - Photo Gallery . The show was populated by all manner of Ford racing vehicles (by invitation) and many famous drivers like Dan Gurney and Jackie Stewart. Ford, or more precisely, one of Ford's advertising agencies managing the event, contacted me to request my car being present. It turned out that several GT40's showed up, including a couple of Mark IVs, some Mark IIs, some Mark Is, including Ben Levy's Mark I. The Ford GT Chief Designer met Levy that weekned, and Levy offered him unrestricted use of his car in exchange for winter storage. I also seem to remember that Ben had some issue come up related to transporting the car back to PA (or is Ben in MA?). Anyway, I had my car back from Ford for this event and Ford had Levy's car now at their discretion, so that shifted the "Design Guide" focus from my car to Levy's, however, by this time the Cheif Designer was pretty much done with the Ford GT design.

Shows and Concours': I was eager to have Ford use my car for the Press Preview of the new Ford GT during press days of the 2002 NAIAS, as well as in their actual NAIAS stand where the Ford GT concept was displayed, however, I was told Jay Mays' (some of you may know who he is) ultimate decision was that my car was just too nice and the wrong color, that they weren't going to risk any attention being drawn for the pale yellow Ford GT concept. The photo of my car behind railing in one of the previous posts was in fact taken at Designer Night, January 2002, which is a private party sponsored that year by Ford, held in conjunction with the North American International Auto Show, and attended mostly by the international design community. I believe as a consolation to the press preview and auto show decisions, I was asked if Ford could use my car as a display (along with Levy's, and the Lotus 48(?, Clark's Indy Winner) and Mark IV (Gurney/Foyt) owned by Henry Ford Museum) and was the first of several PR activities for which Ford used my car, including the Ford 100 Birthday where the first 3 production GTs were debuted, up through 2005. At that Designer Night party, the Car Selection Committee Chairman for Meadowbrook, introduced himslef and asked if I would be interested in participating in the summer 2002 event. I did not have any discussion at that time about the origins or make up of my car, but in June I was invited to show the car at that summer's event. During judging I was asked about the car's race history (as I was placed in the Race class, duh) and clearly stated to the three judges (don't recall who they were, but they are often auto industry executives) that the car had no race history, as it was a replica. They didn't seem to care, but of course, I won no award. That it was a replica has seemed to be no issue with Meadowbrook officials, as I have been invited to the event again, both in 2004 and 2006. Kieth Martin (some of you may know who he is) was one of the 2006 judges for the Race class, and he thanked me for being honest about the car being a replica. He answers a lot of emails (even from me), he may comment on this if you ask, he seemd to be impressed that my car was one of the Ford Design Guide vehicles for the new Ford GT and he may remember our conversation. No judge was ever told my car was an original GT40, whether in an attempt to win some award, or not.

Interstingly enough, Larry Smith (I doubt many of you would know him, he's a local foreign/exotic body shop owner), the car selection committee and event Chairman for the inaugural 2003 Cranbrook Concours (a "splinter group from Meadowbrook" event that competes with Meadowbrook), was fully aware of my car's "provenance" (or lack thereof, in some of your minds) when he invited me to show my car at that event. That it is a replica seemed to make no difference as I was invited back in 2005.

The Back Story: I started collecting parts in 1984, when working at Ford. (By the way, I didn't live in Germany or Europe, as one of the posts reported, just worked for a German company and traveled to Europe regularly for a few years. And my ZF T/A came new directly from ZF in Zuefenhausen, not from RBT, whoever that is. ZF was a customer of my company.) A partial original chassis (NO, regardless how suspicious or cooky it sounds, I won't divulge its number or any other details) came my way, as the impetus to this endeavor. I learned of ERA's plans for a GT40 replica in 1985 and bought one (yes, it was a steel monocoque). My goal was only to satisfy my own personal dream to own a GT40, and I embarked on creating the most accurate rendition of a Mark I that I could achieve. For my own personal gratification, and nothing more. The more original parts the better. Well, 22 years later, I've satisfied all of my desires to own and race a GT40 and I'm ready to move on. Is there someone out there who will see the same value in this car as I do and provide the justification ($$$) to me to sell it? Well, that's what I've asked Dave Klak to find out, and I don't mind that he's focusing on all the things that make this a unique replica to own, again though, aside from the ERA part. I don't beleive it's wrong to ask someone to consider the car on the basis of all the original parts on it, or of its part in the Ford GT program, or of its participation in the mid-west version of Pebble Beach. But , for what ever it might be worth to you guys, the person who does put up some money, will be provided with all the documentation and details that make up this car, even the ERA receipt, well before any checks are cashed. So, there!

The Mistakes: Since this seems to be such a controversy, let me be the first one to admit that I suppose I have made a couple of mistakes. I have gotten a bit tired of all the "Is it a real GT40" questions at events, so I've had some fun just answering, "Of course it's real". Yeah, Yeah, I know, how could I? Well, at the time it seemed like a bit of fun to just answer, "Of course it's a real car" in my mind (hopefully you catch my drift here). I didn't think I'd be doing any harm in not deflating the guy who had paid $40 to walk Meadowbrook for example, to find a replica, instead of a real GT40.

I also was remiss with Barry Mequire (some of you should know who he is). If any of you have ever been interviewed by Barry, you know that he is an un-scripted guy and has an in-your-face interview style. When he's asking you questions, he and his mic are so close you feel like you're about to be kissed. I am not attempting to disparage Barry either, I found him to be a very warm and genuine person. But with his fast pace the process is a bit intimidating. Well, he cornered the Ford GT Chief Designer and I at Meadowbrook in 2004 and interviewed us with my car and a Ford GT in the background (some of you may have actually seen the subject Car Crazy episode). Before I realized we were talking and answering questions about my "real" GT40, he and his crew were finished and gone. I didn't realize the extent of my fuax paus (is that how you spell that?) until I saw the episode on Speedvision. Well, you live and learn I guess.

I am sure I missed covering something from the three pages of posts, so, I encourage any of you to send me an email if there are any questions or comments you feel compelled to further ask or say. I will respond to any I receive.

I trust that all of you are goodhearted enough to recognize my few feeble attempts at some humor. If not, I appologize if you're in any way slighted or insulted. To those of you who have supported me on this thread, Thank You! To those of you who have picked on me, I hope this info gives you some pause and patience with me.

By the way, if anyone is interested in GT40 body panels, please see my post in the Parts for Sale section of the Forum. I am still trying to get photos on the Forum, maybe this weekend.
 

Gregg

Gregg
Lifetime Supporter
James, you state that a partial original chassis came your way. Did you rebuild this chassis or pull any parts from it in your build, or is the tub and major components an ERA.
 
Thanks for the story of how your car was used in design and answering questions. While I however am not a buyer I appreciate your candor and hope you can receive enough in dollars to satisfy the emotional attachment, with that said I have never been able to do that with any of my sales as emotions are far deeper than dollars.

I am sure others will chime in but regarding Barry, I totally understand how that happens. To 99.99% of the world it is a real GT40 anyway, it is only those that have the interest and desire to know more that the detail of a replica is important.

Regarding the auto sale; it does not surprise me that a dealer is suppressing the fact that it is a replica, same as it does not surprise me that many dealers put sawdust in a trans to keep it from slipping. It is always and should always be buyer beware, I find that the stearotypes of autodealers are more correct than wrong (I am sure I offended people with that statement, sorry). But, I do think that you would be better served to have the dealer state it is a replica up front and in the text; having them tell all of the truth increases the potential for a happy sale. Just my unsolicited opinion, take it for what it is worth.
 
I'm not condoning false advertising and I believe any body who is misleading should be brought to account, however I dont know what the rest of you guys have spent building you 40's, but it I'm guessing if you account for your labour its propably on the high side of $150K. I know thats what mine would have cost. It appears that we are to quick to undermine or undervalue the cars and we will affect the resale of our babies if we keep doing it. The car in question is worth what some is willing to pay. I would hope that there is none of us that would love to see a reproduction sell for that sought of money. I know its not all about money but It would be some compensation for what we put our families through and ourselves through.

I'll get of the soap box now.

Mick
 

CliffBeer

CURRENTLY BANNED
I think we should be precise about what is the issue here. I'll take a stab at it.

By way of exclusion, the issue is not what is this car worth? The answer to that question obviously being "what the market will bear for it."

Rather, the issue is what is the reasonable standard for disclosure of material facts that goes with selling a car? This issue is particularly important when the car being offered for sale is one where the possibility for deception is greater. By way of example, nobody will try to sell a Honda as something else because a) concealment is physically quite difficult, and b) the value delta between a real and a fake Honda (or other similar mfg/model) is near zero. No so with a ERA GT40 and an original GT40 - the ERA looks very similar to the original and the value delta is huge.

Again, the anaysis here really gets at the ethics of the owner (as represented by the factual accuracy of the disclosures in the sale process) not the workings of basic economics supply/demand pricing.
 

CliffBeer

CURRENTLY BANNED
fsts2k said:
Thanks for the story of how your car was used in design and answering questions. While I however am not a buyer I appreciate your candor and hope you can receive enough in dollars to satisfy the emotional attachment, with that said I have never been able to do that with any of my sales as emotions are far deeper than dollars.

I am sure others will chime in but regarding Barry, I totally understand how that happens. To 99.99% of the world it is a real GT40 anyway, it is only those that have the interest and desire to know more that the detail of a replica is important.

Regarding the auto sale; it does not surprise me that a dealer is suppressing the fact that it is a replica, same as it does not surprise me that many dealers put sawdust in a trans to keep it from slipping. It is always and should always be buyer beware, I find that the stearotypes of autodealers are more correct than wrong (I am sure I offended people with that statement, sorry). But, I do think that you would be better served to have the dealer state it is a replica up front and in the text; having them tell all of the truth increases the potential for a happy sale. Just my unsolicited opinion, take it for what it is worth.

Agree wholeheartedly with your analysis except for one minor point...

Yes, caveat emptor (loosely, buyer beware) is the reasonable standard for disclosure, except where a specific representation is being made. In other words, where no specific representation is made, caveat emptor seems to be fair and reasonable, however, where a specific representation is made ("This is a 1966 Ford GT40" for example), the buyer should be able to rely upon the veracity of that representation. The law in all 50 states follows this logic, and reasonably so.
 
GIO (James) - your explanation is interesting and perhaps is a bit more forthright telling of the details of this car than told by the saleman's website description. You do note that a "good part of the car is ERA," but you never quite tell us how much. What is the ERA part - the chassis? Seems that would be significant. Here's the text from the add. Nowhere does it say "replica" and nowhere does it say when it was actually built. It seems very simple - this car is a very nice replica. Saying it's "reconstructed" appears to be an attempt to lead someone into believing that it's an original that was perhaps rebuilt due to wear, damage, etc. Finally, I agree with Cliff, in that it is being advertised as a "1966 FORD GT40." It was not built in 1966 and it was not built by Ford as far as we can tell. Depending on the state here in the US, it may indeed be registered as a 1966 Ford GT40, but I think we all know that does not make it the genuine article.

1966 FORD GT40, ---PLEASE CALL FOR PRICING---The GT40 is often thought of as one of the most iconic cars of the 60's and perhaps one of the most recognizable Ford racing products ever produced. This is "the" design guide vehicle used by Ford Motor Co. in their creation of the new Ford GT. It is painted in a stunning Rangoon Red and topped off with a Black Leather and racing cloth interior. Under the hood sports a 390 HP, 5.2L (306 cu.in.), Weber fed, Ford small block, the famous Bundle-of-Snakes exhaust, coupled to a ZF 5 speed manual transaxle. It has been reconstructed utilizing extensive N.O.S. and spare GT40 components and finished with modern fabricated pieces. With only 3,488 actual miles, this Ford has experienced only the most meticulous care. This GT40 has been shown at many Ford Press and PR events and has been welcomed at a plethora of prestigious shows including 3 Meadowbrook Concours dElegance, 3 Cranbrook Concours d'Elegance, Ford 100 Years of Racing, Ford 100 Celebration, Willistead, Eyes on Design, Concorso dItalia (the Ferrari Challenger class), and Rolling Sculpture. It has received numerous recognitions including Best in Class/Best in Show awards. A small collection of spares is included. There is no doubt that this GT40 was an automotive marvel, still to this day! We are currently accepting offers on this extraordinary vehicle!
 
I don't think the question here is about value - it is about honesty! James seems to be forthright and owns up to it being a fine replica. However the chosen seller is an out and out liar! The car is not a Ford, it is not a GT40 and all the comments about its "history" are aimed at misleading the buyer. The unit appears to be a very nice car but why deal with a liar. Me - I would buy something I wanted from someone I could give a little trust to as well as my money.
 

Ron Earp

Admin
The car is a beautiful car, make no mistake about that. It is appears to be well built with good attention to detail and of course, parts selection.

I think what concerns some folks posting on this thread is the advertisement is somewhat misleading. While it doesn't say the car is an original P numbered GT40, it doesn't say that it isn't either. The advertisement doesn't hint at the car being an ERA, and with factual statements about being received at various shows, used for the Ford GT design by Ford, etc. it certainly gives the impression that it is an original car. Two of the statements in the advertisement give the impression the car is a 1966 GT40:
  • "There is no doubt that this GT40 was an automotive marvel, still to this day!" certainly lead folks to believe the car is as old as the 1966 title suggests.
  • "1966 Ford GT40!"
Seems to me if they'd simply indicate "Titled as 1966 GT40" or "Has 1966 title" it be fairly clear to the non-GT40 guru.

I'd definitely like to own it, it is a pretty car.

Ron
 
CliffBeer said:
however, where a specific representation is made ("This is a 1966 Ford GT40" for example), the buyer should be able to rely upon the veracity of that representation. The law in all 50 states follows this logic, and reasonably so.


Cliff, thanks; my last statement of:

"But, I do think that you would be better served to have the dealer state it is a replica up front and in the text; having them tell all of the truth increases the potential for a happy sale. Just my unsolicited opinion, take it for what it is worth."

was an attempt to state what you said, I did not word it very strongly. I totally agree with you, thanks for pointing it out.

Kevin
 
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