by Paul Fix II
At the 2013 Mecum Auctions Pebble Beach/Monterey, CA auction, a 2006 Ford GT in Heritage trim with less than 6 miles sold for an astounding $415,250.00.
Why is the Ford GT supercar appreciating at such an unbelievable rate? First we need to define the car to understand its place in automotive history.
At the 2002 North American International Auto Show in Detroit, Ford Motor Company unveiled a concept car called the “GT40 Concept.”
This was to commemorate the original mid 60’s Ford GT40 that was Ford’s answer to Ferrari. It was built to win the Manufacturers Title in FIA road racing competition.
The concept became reality when Ford brought the car to production in 2005-2006, building only 4,038 units.
When new, the base price was $139,995 for a 2005. With only four available options, the price was $30,000 under a comparable Ferrari 430 Ferrari MSRP.
For 2006, Ford increased the base price and added on option called Heritage. This was the simulation of the 60’s Gulf Oil sponsored GT40’s in the iconic light blue with single orange stripe.
Prices when the first cars hit the dealership floors saw some being traded at $100,000 over sticker price. But when just out of production in late 2006 and into 2007, prices were at their lowest. Some dealers still had the cars in stock and deals could be made under sticker price. This was soon to change and the cars have seen a steady cyclical increase, especially recently.
There are more than a few collectors that had the foresight to buy multiple cars and put them away. Some cars are now being sold out of these collections and the sellers are seeing significant profits.
Stories and photos are even circulating of a few people having purchased as many as 10 or more of the cars when new.
A mid-engine supercharged 5.4-liter engine powers this Ford Supercar, producing 550 Horsepower. With little driver aids, these cars have been susceptible to damage by drivers with an overzealous throttle. Some estimates are that 25% have seen some sort of damage. One company has made a business out of selling and repairing wrecked car parts.
The fact that there are fewer “virgin” cars out there could be part of the reason that the values are appreciating.
A great information resource is www.fordgtforum.com; run by enthusiasts, it’s a source of information with general discussion, value, upgrades, modifications and classified ads.
Another resource is the Shelby American Automobile Club (www.saac.com). They published a registry of all the Ford GT’s made by serial number, including all the invoice information for each car so you can see how they were delivered.
Most cars currently available are advertised between $190,000-$260,000. I believe there are four categories in pricing:
1. “New” with under a few hundred miles and could still be in the MSO (Manufacturers Statement of Origin). This is the document that is turned into the DMV by the dealer the first time it’s sold.
2. Used with under 2,000 miles
3. Used over 5,000 miles
It should be noted that as soon as production started in 2005 there were a number of aftermarket companies launching products to enhance the look and performance of the GT.
Ford made available a few items through the Ford Racing Parts Catalog, including a supercharger pulley to increase boost, exhaust system, shifter and transmission cooler.
Heffner (http://heffnersperformance.com) made exhaust systems, twin turbo conversions and upgraded superchargers, some of their cars making over 1,000 horsepower.
Exoticare (www.exoticare.ca), makes seat buttons that simulate the original 60’s seat.
There are other companies that make Macintosh subwoofer relocation kits, billet fluid caps for the engine compartment, carbon fiber interior components, carbon fiber body parts, suspension Lowering kits, aftermarket wheels, shock packages and even bigger brake and rotors kits.
But it seems the unmodified cars are seeing the most collectability and value potential. As custom cars go it’s all about personal taste, so it narrows the market of potential buyers.
There are a few other cars with comparative appreciation trends.
Soon after ceasing production, the Ferrari F40 leveled off for many years at around $450,000, now close to 1 million.
Likewise, the McLaren F1 could be found around $900,000 soon after production but we have recently seen sales in the 4-5 million range.
While production figures for the two above examples are well below the GT production, it seems the Ford GT is following a similar trend.
Where can you find Ford GT’s currently available for sale?
Visit these sites:
www.ebay.com, Usually 20-30 for sale at any time
Auctions are also seeing a few Ford GT cars come across the block.
I would visit the sites below:
RM Auctions, (www.rmauctions.com)
Auctions America, (www.auctionsamerica.com)
Barrett Jackson, (www.barrett-jackson.com)
Russo & Steele Auctions, (www.russoandsteele.com)
With the 1968 Gulf Mirage GT40 race car recently selling for over 12 million, I believe the 2005-06 still have room to appreciate.