I can't believe I just saw a beautiful GT40 sell for 52,000$....
Mecum Auction
- Thread starter WaitingXR145
- Start date
Which one ? Not the red SPF ?
2010 Ford GT40 Replica 427/550 HP, 5-Speed for sale by Mecum Auction
Maybe the black CAV (with "mechanical fuel injection") ? Still a bargain...
1966 Ford GT40 Replica 427/450 HP, 5-Speed for sale by Mecum Auction
That was for the black CAV, which I still think is an awesome car, and its a shame to see it go so cheap. The red one should be coming up soon.
SPF Mark II 72500
Well, two others (lucky) guys are now GT owners...
Isn't that the truth. One day.....
I've red somewhere that Mecum charges buyers with a 6% commission (as for the sellers).
These auctions are NOT the place to sell these cars. An advert here or on CobraCountry will bring MUCH more! The purchasers at these auctions are "stealing a bargain" as these replicas are mostly disdained by the buyers and auction companies (yet a Z28 "clone" or "tribute" will go for over a 100K and don't get me started on the "Eleanor" POS's)
Guys with cash to spare buy a GT40 as a toy at these events. Poor choices on the sellers part..............
Guys with cash to spare buy a GT40 as a toy at these events. Poor choices on the sellers part..............
Dave Hood
Lifetime Supporter
I agree, Rick. Even if someone doesn't want the hassle of dealing with potential buyers, there are a few high-end consignors that might be a better option than auction. One example is RK Motors here in Charlotte (RK Motors Charlotte | Classic and Collector Cars for Sale). They sold this nice SPF MKII last year for over $100k. They charge a straight commission of 10%.
1966 Ford Superformance GT40 MK II | RK Motors Charlotte | Collector and Classic Cars
1966 Ford Superformance GT40 MK II | RK Motors Charlotte | Collector and Classic Cars
It didn't sell. The bid reached $52K but it didn't meet the reserve. In Mecum terms "The bid goes on".
Could the fact somebody built a Mk11 looking car with a smal block and a Mk1 looking car with a fe affect pricing by buyers with any knowledge of GT40s? I think if your looking at pricing at or around 100k buyers want something that resembles what they are thinking about when they look at the car. If the details are not important then why not just buy a 2006 FORD gt or a late model mustang as they are much more user friendly.
Welcome to the global depression, after returning from Hershey/Carlisle/classic LeMans/Pebble Beach and the rest. Pick a car you like, pay the price you want to spend and enjoy it!.
Unless you have a duesy/ferrari"old"/real gt40 or anything else pre ww2 luxury exotic.Its all over...and for most of us and the hobby its a good thing.
The american muscle car scene is dead and buried...Really never took off except for B/J auctions?
The true classics and european sports cars are still commanding the numbers...
Kit cars,muscle cars, hey my buddy sold his aluminium cobra kit , unreal quality ....36 grand, he had 110 into it!...
Its the real deal or nothing today, and to a million mustangs built in 2 years or 600,000 camaros in 3 years, they are worth what anyone would pay.
I love all the repro GT40 kits, but dont fall into the trap....its not the real deal, so drive them, enjoy them, its not a 400,000 car since the real ones go for millions......
Enjoy them, I do.......GTJOEY1314
Unless you have a duesy/ferrari"old"/real gt40 or anything else pre ww2 luxury exotic.Its all over...and for most of us and the hobby its a good thing.
The american muscle car scene is dead and buried...Really never took off except for B/J auctions?
The true classics and european sports cars are still commanding the numbers...
Kit cars,muscle cars, hey my buddy sold his aluminium cobra kit , unreal quality ....36 grand, he had 110 into it!...
Its the real deal or nothing today, and to a million mustangs built in 2 years or 600,000 camaros in 3 years, they are worth what anyone would pay.
I love all the repro GT40 kits, but dont fall into the trap....its not the real deal, so drive them, enjoy them, its not a 400,000 car since the real ones go for millions......
Enjoy them, I do.......GTJOEY1314
Yea sorry about that guys on was watching online while on a trip, I thought that the black CAV sold but it didn't. At least the guy did have a reserve on it, not just giving it away.
Thats about as far into left feild as you can go. Anybody who has owned a Boss Mustang, 427 fairlane, 428 mustang, CSX Cobra, Cougar Eliminator, 427 Corvette, 1st Gen Z28, original hemi car etc and bought it pre 2000 and can not make a realistic profit after owning it and enjoying it for 10+ years did not know how to buy cars in the first place. The market rode a unrealistic wave for a few years and then corrected itself. I do not see the 2006 or so GTs selling for less than MSRP becuase they are originals and no more are being made. I dare you to find an original GT40 for much less than 3m and a year ago there were 4-5 for sale around 2m. My bank does not pay that kind of interest.
I think the lesson is all quality original collectable cars have and will continue to go up at a realistic rate. If its a substandard, common or reproduction car it will depreciate as soon as you own it. Why would a reproduction go up in value when they make them every day and sometimes better than yesterday. Its all about supply and demand and they are not making any more originals and repos are coming everyday. Many people think the build is half the fun so if thats the case its worth half after its built. I just dont see knowledgeable cars guys paying a do it your selfer shop rate to build them a GT40 Kit. So replicars seldom sell for what is invested unless its hard to replace the parts or kit. If its available to all why would you pay much for somebodys labor not knowing how good it is? All GT40s look good, real or replicar.
Supply and demand its econimics 101
"I think the lesson is all quality original collectable cars have and will continue to go up at a realistic rate. If its a substandard, common or reproduction car it will depreciate as soon as you own it. Why would a reproduction go up in value when they make them every day and sometimes better than yesterday. Its all about supply and demand and they are not making any more originals and repos are coming everyday."
Jay, given your statement above I would appreciate your thoughts on a GELSCOE or HOLMAN MOODY replica. Do you feel these cars will hold their value? As you're aware they sell for top dollar @ 5-600,000 K. Still not an original but a replica or copy albeit a damn fine one. Is asking 5-600K a legitimate asking price in your opinion given you comments? Please don't think me as being difficult I ask with a true interest as I'm fully aware you are involved in restoring originals.
Jay, given your statement above I would appreciate your thoughts on a GELSCOE or HOLMAN MOODY replica. Do you feel these cars will hold their value? As you're aware they sell for top dollar @ 5-600,000 K. Still not an original but a replica or copy albeit a damn fine one. Is asking 5-600K a legitimate asking price in your opinion given you comments? Please don't think me as being difficult I ask with a true interest as I'm fully aware you are involved in restoring originals.
Jay, I think we are on the same page...On the north shore of Long Island right now with terrible, terrible damage.......thankfully not to cars or people, its a real mess...
I mentioned real cars and classics, and if your old like me and bought cars before cable television your absolutely right.
I was pertaining to new retags at b/j , resto mods, clones and multi million produced american muscle. Yes my first 442 a 69 was just a used car in 1970 something, I paid 350 dollars...I sold it 3 lifetimes ago...
If your building a kit gt40/kit cobra or any other..........ENJOY IT, USE IT,drive it to the ground, but dont expect it to be worth a real GT40 .
Now back to cutting trees and fighting off people for gas......
Oh, If anyone looks up Holman moodys markII, I made a video and drove the stink out of the car....
It recently , finally sold...GREAT CAR!, but because it has anew tag its not 10 million.
I loved the car........
GTJOEY1314
I mentioned real cars and classics, and if your old like me and bought cars before cable television your absolutely right.
I was pertaining to new retags at b/j , resto mods, clones and multi million produced american muscle. Yes my first 442 a 69 was just a used car in 1970 something, I paid 350 dollars...I sold it 3 lifetimes ago...
If your building a kit gt40/kit cobra or any other..........ENJOY IT, USE IT,drive it to the ground, but dont expect it to be worth a real GT40 .
Now back to cutting trees and fighting off people for gas......
Oh, If anyone looks up Holman moodys markII, I made a video and drove the stink out of the car....
It recently , finally sold...GREAT CAR!, but because it has anew tag its not 10 million.
I loved the car........
GTJOEY1314
Robert S.
GT40s Supporter
Making Sense of Nonsense
This is for sure one of the topics I've struggled with for nearly two years now.
Originally, I always intended to purchase a used GT40 vehicle, and I almost did on several occasions. Isn't it interesting that when you are a potential buyer everyone's price seems too high, and one usually makes a lower offer? There is always much concern when you make a purchase from a long distance, and especially dealing with a private party. Eventually, I decided to purchase one new and locally to eliminate all the unknowns and related worry.
Once you get well into the building of these fine cars, then you find it hard to believe that others are willing to part with their cars, even on this forum, for such a small return on the original cost. I agree with Rick M and the others: This is not the proper place to sell one's GT40. No matter how low the price, and if you list it at a low price, and others induce you to raise the price, then the potential buyers are indignant and outraged.
Imagine that it cost someone $150k to create a great completed car, and they only have 400 miles on the car, and they planned to sell it for $75k until they learned it might be worth $99k, and then the buyers want to hang them in public.
Furthermore, less than one year ago, the rolling chassis went up $10k, the ZF 5-speed went up too and is now $13k plus, and so on. So, the guy who invested $150k in his car should know that it would cost $20k more to reproduce his car exactly in today's prices. And the buyers should know that too.
There must be quite a bit of buyers' remorse going on in the process of becoming a GT40 owner. It's really the only thing for me that can explain why someone would spend a year or more of their time, even more years if they build their own, and then only put 400 miles on the car. Sure, some people run in to unexpected financial situations, but certainly not the vast majority of people.
There is a market that would allow someone to build a new roller, make in street ready, register it, and sell it for $50k more to someone that wants one, has the money, and doesn't want to wait the year, and have all the logistic problems with getting the car completed and registered correctly. They would buy it at a dealer's showroom, but likely not from a private party on this or a like forum.
The only thing that weakens and compromises that market is the willingness of most or many to give their cars away here.
I say if you're so anxious to waste $75k, just send me a check for $25k now, and avoid all the hassle of dealing with the car. Yes, I am a friend, and I would help you save $50k and do that for you.
Robert
This is for sure one of the topics I've struggled with for nearly two years now.
Originally, I always intended to purchase a used GT40 vehicle, and I almost did on several occasions. Isn't it interesting that when you are a potential buyer everyone's price seems too high, and one usually makes a lower offer? There is always much concern when you make a purchase from a long distance, and especially dealing with a private party. Eventually, I decided to purchase one new and locally to eliminate all the unknowns and related worry.
Once you get well into the building of these fine cars, then you find it hard to believe that others are willing to part with their cars, even on this forum, for such a small return on the original cost. I agree with Rick M and the others: This is not the proper place to sell one's GT40. No matter how low the price, and if you list it at a low price, and others induce you to raise the price, then the potential buyers are indignant and outraged.
Imagine that it cost someone $150k to create a great completed car, and they only have 400 miles on the car, and they planned to sell it for $75k until they learned it might be worth $99k, and then the buyers want to hang them in public.
Furthermore, less than one year ago, the rolling chassis went up $10k, the ZF 5-speed went up too and is now $13k plus, and so on. So, the guy who invested $150k in his car should know that it would cost $20k more to reproduce his car exactly in today's prices. And the buyers should know that too.
There must be quite a bit of buyers' remorse going on in the process of becoming a GT40 owner. It's really the only thing for me that can explain why someone would spend a year or more of their time, even more years if they build their own, and then only put 400 miles on the car. Sure, some people run in to unexpected financial situations, but certainly not the vast majority of people.
There is a market that would allow someone to build a new roller, make in street ready, register it, and sell it for $50k more to someone that wants one, has the money, and doesn't want to wait the year, and have all the logistic problems with getting the car completed and registered correctly. They would buy it at a dealer's showroom, but likely not from a private party on this or a like forum.
The only thing that weakens and compromises that market is the willingness of most or many to give their cars away here.
I say if you're so anxious to waste $75k, just send me a check for $25k now, and avoid all the hassle of dealing with the car. Yes, I am a friend, and I would help you save $50k and do that for you.
Robert
Re: Making Sense of Nonsense
I couldn't agree more. I think a lot of people get into the idea of owning a GT40 replica because they're such beautiful cars, but once they finally take possession, they quickly learn it was much more (and less) than they bargained for.
Face it--the GT40 is a race car, designed and built for young and brave men to race in. It was never intended for overweight, over-the-hill senior citizen investment bankers and real estate moguls, yet a good percentage of the people who buy GT40 replicas (because they are so expensive) fall into that latter category.
Porsche, Ferrari, and even Ford (with the 2005 GT) engineered cars designed to appeal to that demographic--cars that are beautiful, fast, and yet civilized enough to be lived with on a daily basis. GT40 replicas are simply too uncomfortable, too hot, too extreme, and arguably too fast for most people. Thus, owners who fall into this demographic quickly lose interest and sell them at a loss.
Oh, to be young and wealthy enough to be able to afford to take advantage of that situation...sigh....
I couldn't agree more. I think a lot of people get into the idea of owning a GT40 replica because they're such beautiful cars, but once they finally take possession, they quickly learn it was much more (and less) than they bargained for.
Face it--the GT40 is a race car, designed and built for young and brave men to race in. It was never intended for overweight, over-the-hill senior citizen investment bankers and real estate moguls, yet a good percentage of the people who buy GT40 replicas (because they are so expensive) fall into that latter category.
Porsche, Ferrari, and even Ford (with the 2005 GT) engineered cars designed to appeal to that demographic--cars that are beautiful, fast, and yet civilized enough to be lived with on a daily basis. GT40 replicas are simply too uncomfortable, too hot, too extreme, and arguably too fast for most people. Thus, owners who fall into this demographic quickly lose interest and sell them at a loss.
Oh, to be young and wealthy enough to be able to afford to take advantage of that situation...sigh....
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