HOW MUCH ARE REAL GT40s WORTH?

The number 6 Gulf car was for sale at Barrett-Jackson auction in Monterey in 1995 asking $4 million. I just saw this car just out of restoration at the Amelia Island FL concours this past March. Gurney's Mark IV was there as well. I know Holman-Moody's replicas are going for $250,000.

The question, does any one have documented knowledge of the range of prices the real 40's are going for now? ust makes the replicas prices easier to justify. cb

 

real ones start 130k, with no race history. with a race history, or special ownership they start 325k.

 

[Jim Glickenhaus]

Real MKI's 400K+. Real MKII's 1000K+. Real MKIII's 350K+. Real MK-IV's 4000K+. History and providence can change these numbers radically. Holman's asking 550K+ for his cars.

 

All sounds sensible to me... only I would disagree that a restored car is worth more than an unrestored one.... a well cared for car, with a degree of patina, and complete originality such as the original paint etc is nearly always worth more than a resto...

Neil

 

[Jim Glickenhaus]

Neil
I couldn't agree more! The amount of over restoration that has been done has ruined many cars and turned them into something they never were and obliterated their history. My MK-IV still has the dent in the sill where Bruce McLaren threw down his helmut and set off to retrieve the tail section that had blown off on the mulsenne straight in 1967 enroute to fourth overall.
Best
Jim

 

Quite... a real fanatic wants the car as it should be, not how it might have been in a perfect world.. and your story in my eyes can only add value... if not neccessarily dollars...

I hate to see a '1966' car with a nice glossy paint job, unwrinkled seats and perfection in all ways... they certainly didn't come out of the factory that way!

In direct response to the original question....

Jack Frost has just posted an advert for his car - 1059 - on the Enthusiasts Club web site at $650,000

Neil

 

[Jim Rosenthal]

The least expensive real GT40 I know of (and my knowledge is not comprehensive mind you) is car 1040 which has been in a state of arrested decay here in Maryland for a number of years. (this is the ex-Spoerry car which is showed in a post-crash photo at LeMans, in John Allen's book)It could probably be had in the 250 plus range; a lot for a group of parts and not all of them there, but it was a race contender and could have had a far different history had things not gone awry. There are a number of Safir cars on the market with prices ranging from reasonable (140K) to preposterous (850K). What would be a dream come true would be the opportunity to restore 1040, not as a gleaming show car, but as a running, sorted out, mechanically strong vintage racer with all of it's period patina intact. Now there's a thought...

 

CORRECTION: The car for sale at the Monterey Barrett Jackson auction in 1995 was , I believe, the #6 Gulf car asking a reported $4 million. The car shown at this years Amelia Island FL concours just out of restoration was Gulf car #7. cb

 

[Ron Earp]

There are some here, I do not know how current:

CARS FOR SALE

Ron

 

[Guest]

Barrett Jackson sold a restored MK I in 2000,2001, and now 2002 for around $ 400k.
So that seems to be the market for a restored
car with an average history.
I assume an unrestored car would sell for
less and a car with special history for more.

I have not seen reports of an MK II or MK IV
changing hands in many years, so Jim's
estimate is as good as any.
Obviously it's lot more than an MK I.
Has Lee Holman actually SOLD any of his
"continuation" series cars?

Against these numbers, any replica looks cheap. The question of "price justification"
usually comes into play when comparing a GT40
with another choice altogether such as a
"real" Ferrari/Porsche/Corvette/etc.
That has been discussed on previous threads
and the answer is pretty much up to the
individual. For some it's worth it.
For others it's not.

The question of value may best be answered
by looking at the resale values of "good"
quality GT40 replicas. From what I've seen,
their resale value remains quite high
compared to typical new car depreciation.
That's good news when explaining to your
significant other why you need to drop
$ 50k on a toy.

MikeD

 

[Jos]

Further to 290's comment:

I've just let my wife spend the GT40 fund on a country cottage ! Had I known $ 130 was viable.....

 

Just as an FYI , MikeD mentions the Barrett Jackson Auction. The 2000 and 2001 GT 40 was actually the same car - 1083. Sold in 2000 (to someone in Phoenix that stored it on BJ's restoration shop on Washington St) for 429,000 then it was resold in 2001 for 29,000 LESS. Not a good investment. (But on the other hand everything went down in 2001)

[ May 10, 2002: Message edited by: Joe LaFives ]

 

[Guest]

Note that almost all these cars (except for one)
http://www.gt40club.clara.net/sales.htm

are not really "real" GT40's in that the chassis numbers are not in the original production run. Looks like some are MarkV's.

 

[Jos]

GT40 Enthusiasts Club Classifieds - Cars for sale
Ford GT-40P Mk I # 1059

Contact: Jack Frost, MD

Description
SN-1059. Produced 23/12/1966. RHD 'road car'. Engine: Ford SGT-20 HP 289 CID w/ four Weber 48 IDA down draft carbs. 12.5:1 CR, 390 HP @ 7000 rpm, 325 lbs/ft torque @ 5200 rpm. $695,000 FIRM(USA). See Ronnie Spains GT 40 book for details. He says this 4000 mile car is the most original he has ever seen. Only modification is an on-board Halon fire extinguiser. New plexiglas,new aluminum tanks to replace rotted GY fuel cells. Tanks by John Horstman, formerly of Gulf Wyer.