Original GT40 For Sale XGT-3

[Danny]

G'day everyone.
Here's a MK II for sale in the USA. There's some great close up pics of the car. I still don't think I can afford it though.

Motor Classic & Competition Corp.

Cheers,
Danny

 

[Gary Kadrmas]

Re: Posting GT40s for sale on eBay

Danny,

This same MkII has been advertised on Racingdeal.com and in Hemmings. Everywhere I have seen it advertised, it was listed without the price. (Ya, I know....if you have to ask the price, you probably can't afford it!)

Does anyone out there know what the price is?

Thanks,

Gary

 

[DON SILAWSKY]

Re: Posting GT40s for sale on eBay

Danny,

This same MkII has been advertised on Racingdeal.com and in Hemmings. Everywhere I have seen it advertised, it was listed without the price. (Ya, I know....if you have to ask the price, you probably can't afford it!)

Does anyone out there know what the price is?

Thanks,

Gary

I believe the seller is asking $3MM. The car was bought around a year ago for ~$1.5MM. It had been on the market for at least two years prior to that at $1.8MM.

 

[Allan Feldman]

Re: Posting GT40s for sale on eBay

If the description of the car is correct I think it is chassis number XGT-3. This is one of the Alan Mann Lightweight roof Ford MKII. This was a spare car at the 1966 Le Mans and never was used. The colour scheme as it is painted now is the similar to Dan Gurney's Shelby entry that did race. If this is the car that was used in the Autolite adverts. I thought it was raced in historic racing by a husband and wife team in the 1980's? Dale and Pat Nichols driven by Larry Parker.
Regards Allan

 

Re: Original GT40 For Sale

Some really good closeups for guys building replicas,like roof louvers,door lights, etc.

 

[Keith]

Well, for an "unrestored" example the whole car, especially the engine bay, sure looks real purty....

 

[CliffBeer]

Ah, yeah, the car wouldn't have looked anywhere near that clean in 1966. I'd say "unrestored" is a little inaccurate here.

The lack of a price is annoying. Even people who can afford the car still want to know what the asking price is up front.

If the asking price is $3M and this car was the spare at LeMans in '66 it's going to sit around unsold. For anything north of $2M buyers will require some real historic racing provenance in an original GT40.

 

[Dean Lampe]

Was really how they held the front cover on, with chrome hinges in the back and hood pins in the front? Are those wheels painted gold or is that the color of magnesium? I like the gold wheels on a red race car.

 

[John W]

Was really how they held the front cover on, with chrome hinges in the back and hood pins in the front?

For a mkII yes.

Are those wheels painted gold or is that the color of magnesium? I like the gold wheels on a red race car.

they should be unpainted magnesium, but those look like they've been powder coated or something.

 

[Steve Briscoe]

In general terms, what's it worth as a back-up car with no racing history? I suppose prior sales with data from the collector car market would give a range.

 

[CliffBeer]

Steve,

Yes, some facts are in order here to make the discussion meaningful. Specifically, recent sales in the market place (limited, obviously) provide a range of $1.0M to $2.0M for an original road car and race cars with no racing provenance. $3.0M and above is reserved for race cars with racing provenance such as LeMans, Spa, etc. Ronnie Spain's book is a good guide to which original cars have race provenance. Here, "racing provenance" is roughly defined as cars that were raced (not sitting on the sidelines as spares) more than just once or twice, in recognized premier venues. For example, racing provenance in this category of car would not include a couple of amateur weekend races at Riverside. However, racing provenance would include Daytona in the hands of Gurney.

This car is obviously beautiful and a rare gem, but it's not worth $3.0M. I'd guess a seller could be found at perhaps $2.0M.

Yes, these are big numbers but just because they're big doesn't mean there isn't a reasonably well defined market price.

 

[Steve Briscoe]

Makes sense. It seems like a historical connection produces big swings for a variety of reasons. Sort of like owning that '59 Cadillac that Elvis drove. To some, it's worth a lot more. Historical significance is also seen with sales at some of the Barrett Jackson auctions.

 

[DON SILAWSKY]

...If the asking price is $3M and this car was the spare at LeMans in '66 it's going to sit around unsold. For anything north of $2M buyers will require some real historic racing provenance in an original GT40.

This is not meant to disagree with anything that has already been said about the potential market value of Mk II #XGT-3. It is all speculation, and only an actual sale will validate something, or not. But, I think we should not discount the possibility that the car's lack of a racing pedigree may be offset by its rarity, which is compounded by the number of original Mk IIs that have been completely written off and are now gone, and those that are in museums or with big-time collectors. Using Legate's book as a source, there were 15 original MK IIs built (counting two #110 and just one #1012). Of those, fully one-third (5) are destroyed and gone for good. Another third are in museums or personal collections and not likely to be on the market any time soon, if ever. Of the remaining third, one has a replacement Tenant tub, so I discount its desirability, and one appears to have been used to rebuild an original Mk I (ditto). That leaves just three original MK IIs with any likelihood of being available (IMO). But, one of those has been with the same owner for ~20 years and one was sold to Germany just a few years ago. Neither would seem to have much chance of being in play. What's left is XGT-3.

There may be some parallel in the recent history of original Cobra Daytona Coupes. Although all have some period racing history, whereas Mk II XGT-3 does not, the rarity factor (museums and collections) seems translatable to the Mk IIs. My recollection is that three Daytona Coupes were each sold a few years ago for something around $4MM. There was then a lull for a few years, and then another sold--for $8MM! Someone really really wanted a Daytona and had the resources to ignore recent price history and just pay whatever it took to get one. I wouldn't discount the same thing happening with XGT-3. Also, if trades enter the transaction, values then become very relative and could easily get skewed upwards.

Again, this is just my $0.02 and could be far off base.

 

[Geoff Deakin]

Does anybody know what the narrow vertical slit is for at the base of what I would call the B post - Between the door and the rear clip?

Cheers,

Geoff.

 

[John W]

It was introduced on the mkIIs to provide extra cooling to the fuel pumps.
It is usually only on the left side, but some seem to have it on the right too, probably as a result of the oil tank placement being on the left side on mkIIBs.