05/06 Ford GT and Prices | FerrariChat

05/06 Ford GT and Prices

Discussion in 'American Muscle' started by Art138, Sep 5, 2020.

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  1. Art138

    Art138 Formula 3
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    Nov 22, 2007
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    When the Pandemic was at its height here in the U.S,I expected the FGT to take a hit on sale price. To the contrary, good cars seem to be in demand and selling well. Not that I am looking to sell,but a testament to how demand and the iconic value of a car during these trying times keeps them in the forefront. In a few years my GT might be worth more than my Pista. For those of you following the market your thoughts.
     
  2. Shark01

    Shark01 F1 Veteran

    Jun 25, 2005
    5,687
    A few factors in play here:

    1. The movie
    2. The unexpected strong showing at BJ even before the virus
    3. All hard collectibles are up (art, wine, etc) - My other collector car ('99 Lamborghini Diablo Roadster) has gained too....but there are so few out there that few have noticed...one case that helps the FGT, lots of sales, easy to keep track of and see trends
    4. It's really a special car as new exotic supercars get softer and more isolated, and filled with crappy electronics

    Remember, it was only 6-7 months ago when there were a few sub-$200k cars that were just honest driver grade cars with miles.....mine included....how fast would a non-salvage, non-accident 30k mile car for $182k sell in this market?
     
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  3. Art138

    Art138 Formula 3
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    Shark,you did well!
     
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  4. Shark01

    Shark01 F1 Veteran

    Jun 25, 2005
    5,687
    In alot of respects yes, but I have stuff I want to fix or make better. I spent $7,500 on its initial service, half of that on replacing most of the heat exchanger equipment that was dented when a previous owner pulled in too close to a curb. All of it was still functional, but was not to my standards as a caretaker.

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  5. Shark01

    Shark01 F1 Veteran

    Jun 25, 2005
    5,687
    Next year, I'll start replacing weatherstripping and re-mount the windshield, that has a slight drip. Replace old rear tires, and also want to install this CF interior stuff: Image Unavailable, Please Login
     
  6. Thecadster

    Thecadster F1 Veteran
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    I agree. It seems like the average GT has ran up $50,000 since pandemic. Not that it matters to me, I plan on keeping mine forever, but it’s good to know that since I bought mine in March, the market has heated up significantly for the car. The low mile cars on BAT are crushing it right now. Check out this one with 4 days still to go...

    https://bringatrailer.com/listing/2005-ford-gt-17/
     
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  7. 375+

    375+ F1 World Champ
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    Dec 28, 2005
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    No Sale.
     
  8. Thecadster

    Thecadster F1 Veteran
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    Some have suggested that it was the iPhone pictures that made the difference. Other cars have recently gone for much more. Perhaps, the car did not PPI well. Whatever the reason, that car is the clear outlier this year.

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  9. Shark01

    Shark01 F1 Veteran

    Jun 25, 2005
    5,687
    Another issue was the dealer of that car....ugh would never work with that.

    I would say another indicator on where the market is now is the low end, the under $240k ask. During my search, from Oct 2019 to Feb 2020 there were 10 that I looked at, 3 of them here in Houston. From May until now.....there have been exactly 0.
     
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  10. DIGMAN52

    DIGMAN52 F1 Rookie
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  11. Art138

    Art138 Formula 3
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  12. Shark01

    Shark01 F1 Veteran

    Jun 25, 2005
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  13. DIGMAN52

    DIGMAN52 F1 Rookie
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    Yes it is.
     
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  14. Shark01

    Shark01 F1 Veteran

    Jun 25, 2005
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    The crazy thing about that particular advert is how the blue looks to be a lighter shade than midnight.

    But any FGT content is better then any of the stuff you normally see in this sub-forum .
     
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  15. DIGMAN52

    DIGMAN52 F1 Rookie
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    The kind of over do the lighting on their shots. I watched the guy do a Lambo one day, and he is very detailed.
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  16. Art138

    Art138 Formula 3
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    Sold for 315 thousand U.S.
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  17. Shark01

    Shark01 F1 Veteran

    Jun 25, 2005
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    + $5k fee, $1k shipping at least, probably $15k in taxes and registration......approx $336k all in.

    IMO, a car with this level of miles is a tough buy. Too many miles to be a museum piece, too few miles to save a premium for it to be a driver grade car. I mean, I'm pretty much at 1,500 miles on mine just since mid-April.....and will pile on more this afternoon.

    But another good example to support the $50k-ish rise in prices since March.

    Timing is everything, as I could not have afforded a car at current pricing.
     
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  18. Thecadster

    Thecadster F1 Veteran
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    Who could ever have predicted this car market nearly 7 months into pandemic? I sure didn’t. I didn’t predict this housing market either. Asset values are on fire right now.
     
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  19. ttn27

    ttn27 Formula 3

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    How much of a premium do you think the Heritage livery commands over a non Heritage edition, being everything else the same, i.e. with all 4 options, and less than 2000 miles?
     
  20. dbk

    dbk Formula Junior

    Sep 21, 2005
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    SE Mich
    GT prices are a choose your own adventure proposition. The cars have not gone up $50k since early in the year. Picking March as a data point is obvious cherry picking. They are up slightly, as are many exotic cars for a variety of reasons, not the least of which is the bonanza of free and largely unaccountable money that's been thrown around. Exogenous factors make it an attractive "investment" in addition to the fact it ticks all the boxes of the automotive zeitgeist.

    6/26/16 $305,250 Tungsten 1,900 Miles
    2/25/17 $341,000 Centennial White 1,754 Miles
    5/9/17 $330,000 Tungsten 1,285 Miles
    8/19/17 $313,500 MkIV Red 1,805 miles
    1/20/18 $335,500 Tungsten 650 miles
    9/18/20 - $320,000 MkIV Red 1,700 miles

    That's 4+ years of a pretty narrow range from 2016 to late 2020. I wouldn't look at that and say the cars have dropped $20k in value since early 2017. There are many, many data points in between from auctions higher or lower. The cars are plentiful, which is why they are auctioned consistently. Auctions are a dice roll for everyone but the house, and you'll get lots of overpaying and the occasional great deal. Over the past 4 years, the cars have hovered in a pretty similar range at auction. Retail value have risen slightly, and if you don't believe it, there's a car for sale at a very reasonable price in this section that is in great condition that has remained for sale for a substantial period of time. Buy it and make some money.

    Heritages are worth a premium but maybe not what they once were. If I had one to sell now, I would probably wait until crowds of hammered drunk people were allowed back at auctions. I sold a Heritage with a little under 1k miles in 2014 for $440k. In 2020, over 6 years later, I wouldn't expect that result to be much different.
     
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  21. energy88

    energy88 Two Time F1 World Champ
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    It certainly defied the conventional wisdom!
     
  22. Thecadster

    Thecadster F1 Veteran
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    I paid $265 for my perfect, one owner, white/blue stripe in March. It sure looks like the cars have ran up since then. To be clear, that run up means nothing to me, as I intend to own the car forever. I could scarcely care less about depreciation, if I did, I would not have purchased a new Performante, a new 812, and, I certainly wouldn’t have ordered my Jan build 765LT. That said, the car market is bananas right now. The cars that were plummeting pre-COVID (720S, 488) seemed to have gained their footing, and the cars that were stable pre-COVID seem to have ran up (Ford GT, Viper ACR).

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  23. Shark01

    Shark01 F1 Veteran

    Jun 25, 2005
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    They have.....
     
  24. DIGMAN52

    DIGMAN52 F1 Rookie
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    Well said Dave ! Thanks for the mention.
     
  25. DIGMAN52

    DIGMAN52 F1 Rookie
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    My GT has sold ! Lambo Dallas got $275k for her, right where I thought she should be. Selling through a dealership made life easier, as several other people interested were nervous about a private party transaction for that much money.

    Still the easiest and best driving Supercar I have ever driven/ been in. In 13 years, we never had to do anything beyond oil changes and airbag recalls.

    Now when the Boss 302 sells, the spot for the C8 will be waiting on her.
     
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