Hagerty.com

2017 Ford GT sells for $1.65M, Mecum says judge approved sale


#1

All eyes at last weekend’s Mecum’s Indy auction were on the silver 2017 Ford GT, which was bid to a hefty price of $1.65 million ($1.815M with premium). That’s more than triple the original MSRP of $450,000, which means the seller can fill that garage space with several rather fat stacks of Benjamins.


This is a companion discussion topic for the original entry at https://www.hagerty.com/articles-videos/articles/2018/05/22/mecum-sells-2017-ford-gt

#2

Actually this is one technically is not the first one on the open market. If you recall Ron Pratt’s was the first at BJ last year. True it was for charity and had special approval from Ford to sell it but facts are facts. Ron’s hammered for $2.5M but this sale is an outlier and not indicative of true market value as typically charity cars carry no preclusion to the actual value of the car… many business owners who are also car collectors win two-fold on charity cars… getting the car they want as well as the tax write-off they need for “donating” to the charity.

With that… I think it’s safer to say this silver one was the first on the market with nothing extra to induce a higher sale price. The $1.65M hammer price seems fair to me given what the car is and how it compares with other hyper exotics from other manufacturers as well as being the 2nd one for public sale amidst a still heighten sense of hype and mystique around the car.

I also think it’s safe to assume that we’ll see a few more GT’s hit the auction scene with enterprising owners cashing in looking for 3 times their original investment… not a bad way to make a small fortune.


#3

@luc6189 - I am also curious to see if this marks the start of these GT’s coming to market. Given that many collectors were passed over for “influencers” in the selection process, there is a strong “used” market for these cars.


#4

@Kyle I agree that many enthusiast and collectors who would have been great shepherds of the car as well as the Ford brand were passed over via a very questionable sales strategy by Ford essentially hand picking who they wanted to own the car… a complete reversal of Henry Ford’s one car for every person ethos for the company. News flash to Ford, they are not a pioneer in this strategy but regardless has increased the value of the car essentially 3 times it’s MSRP by making it extremely exclusive to a select group of people.

I was recently at an exotic car meet up last week in Metro Detroit and 3 of these GT’s showed up… I know who all 3 of the owners were and I won’t name any names but all 3 have indirect ties to Ford (and none had M plates). Meanwhile a friend and I arrived in his 05 GT… his 2nd GT mind you and he’s owned and currently does own other high level Ford products… in which he was denied an allocation and told by a high ranking Ford rep he did not fit the profile of the intended demographic to receive an allocation. Meaning he was not as you put it an “influencer”… or someone with a celebrity status or a massive social media presence. Ford cut out the major demographic of the car in my opinion… which is wealthy but private individuals who are enthusiasts as well as collectors and unfortunately the “regular” car people who want to own one of these and have the funds will unfortunately have to pay a 7 figures sum roughly 3 times the MSRP for the opportunity.