Ford GT sells for three times original price
A 2017 Ford GT ’66 Heritage edition just crossed the block at Barrett-Jackson Las Vegas for US$1.54 million, more than three times its original sale price of US$450,000.
The GT only had 30 miles (50 kilometres) on the odometer, which is even less than was on a previously pristine example that sold at Bonhams during Monterey Car Week.
The Bonhams car had 120 miles (193 km) on it, and sold for a cool US$1.05 million.
A third GT, recently sold by RM Sotheby’s in Monterey, fetched US$1.24 million. It had 400 miles (643 km) on it, but was painted in a standard shade of orange.
The contract that buyers of the incredible Ford supercar originally signed barred them from reselling the vehicle for two years. Ford’s original plan was to deliver the vehicles only to customers who would actually want to get out and use the highly capable car on the track, or at least show it off.
Instead, it seems the two-year no-sale period just served to add value to the vehicles, with some of those who invested just waiting until auction day to make a big profit.
John Cena infamously tried to sell his blue GT well before the two-year clause in his contract had expired, and ended up getting in serious trouble. After making its way through various auctions, the highest price it ever sold for was US$1.4 million.
The highest price ever paid for a GT so far was US$2.5 million, as part of a charity auction put on by Ford before the official two-year no-sale restriction was lifted.