By Peter Valdes-Dapena, CNNMoney.com staff writer

Ford hasn't yet announced the price of the 2007 Shelby Cobra GT500. But, whatever it is, buyers have already indicated a willingness to pay at least $20,000 more.

The Shelby Cobra GT500 is a version of the popular Ford Mustang equipped with a 500-horsepower supercharged V-8 engine. The original Shelby GT500s, made in the late 1960s by race driver turned sports car maker Carroll Shelby, are now highly coveted collectibles that can sell for hundreds of thousands of dollars. (Far fewer of those cars were built than the approximately 8,000 per year a Ford spokesman says will be made of the new version.)

On eBayMotors.com, one Texas dealership is advertising a 2007 Shelby GT500 with a "Buy it now" price of $99,999. So far, no-one's paid that much, but bids in that auction were already over $65,000 as of Wednesday afternoon.

The first 2007 Shelby GT500s are expected to arrive in dealerships at the end of May with most dealerships getting just one or two to sell.

Ford's sticker price for the car is expected to be about $40,000. Some dealers advertising on eBayMotors are asking for bids in terms of the amount over the sticker price the buyer would agree to pay.

Currently, bidders are offering to pay $20,000 or more over the car's sticker price.

Shortly after the GT500 was unveiled in April, 2005, an interested buyer went into Corey's Northgate Ford in Birmingham, N.Y. with a check for $1,000 for the right to buy a GT500 for sticker price whenever the car became available, said Scott Prancue, the dealership's general manager.

"Thank God I didn't take it," he said. "I would have been fired."

In early May, Prancue's dealership accepted a bid of $13,000 for the right to buy one of the cars at its full sticker price. Had the auction been held today, the price would almost certainly have been higher.

Buyers who are willing to pay $20,000 or more for the car are trying to get the first ones produced as those are always the most desirable, said John Aguire, Ford's brand manager for the GT500. While Ford sets suggested retail prices for its cars, the manufacturer cannot ultimately control the amount dealers will sell them for, he pointed out.

"I'm not surprised at how high demand has been," he said.

Dealers who are auctioning the rights to buy the cars are just trying to get a fair market value for them, said Prancue.

While it's not unusual for certain trendy cars to sell at prices higher than the manufacturer's suggested retail price, the amounts over the sticker price are usually a few thousand dollars at most. There have been cars that have regularly sold for tens of thousands of dollars over their suggested retail price, but those have been exotic cars with prices well over $100,000 to begin with.

The right to purchase the first 2007 Ford Shelby Cobra GT500 produced was purchased for $600,000 at the Barrett-Jackson collector car auction in Scottsdale, Ariz. Proceeds from that sale went to charity.

The GT500 benefits from its relationship to the original, highly collectible Shelby cars as well as to the current Mustang, which has turned out to be a hit for Ford in its own right.

Still, actual selling prices will eventually come down to something at least closer to the sticker price, said Jim Hossack, of the automotive industry consulting firm AutoPacific.

"It's a handful of people willing to pay that much," he said.

 

I have been told by sales personel at Woody Anderson Ford in Huntsville that they plan on auctioning off there alotment of GT500s to the highest bidder.

 

One of the most damaging aspects to the hopeful GT500 buyers is the continuing promotion of dealer gauging that is taking place in this site as well as others as to somehow establish or accept its contents as the norm. I am under the opinion that those suckers reaching those type of deals are minimal at best but with all the free advertising dealers are getting here it is just going to make it harder for the members to realize their dreams.

This as well as other dealer sympathic and promotional topics should be at the Ford Salesmen forum where they would receive their due attention. That's right. I, as other TMS members, will not pay too much attention to such insignificant forum. We have to keep in mind the limited financial resources and sacrifice which would be required in order to be able to buy a GT500.

Trust me, the Ford dealers and their salemen do not need any additional help or exposure.

 

'nuff said.

 

At this rate, I will never be able to even buy a used one.

 

Its a bunch of crud. They say in the article that Ford can do nothing about it, but that's BS. They certainly could do something about it, but Ford "likes" the buzz and ignores the negative connotation that the dealer mark-ups create.

 

it is bull**** there should be a law
where is ralph nader when you need em.....

 

They could. All they would have to do is the following:

1) Assuring the Ford faithful that each and everyone who wants a GT500 will get one, while still providing the dealers with their original assigned allotments.

2) Perhaps other requirements such as being a present or past Ford product customer within the last 10 years as other car companies have done in the past.

3) Require a reasonable non-refundable deposit not to exceed the markup between invoice and MSRP from each customer who wants a guaranteed deal.

4) Modify the announced SVT or GT500 dealer qualifing requirements with an anti-gauging product policy.

 

Good point. Some Dealers have been taking use of #2 big time. And it is shown in the statistics that the Customer loyalty remains as a result.

Certainly there should be some enforced governance with regards to price gauging. Although it is a sought after item, there ought to be a resonable limitation.

Some Dealers are planning to sell them for a moderate amount over sticker. Use this publicity to their benefit. Draw in the Buyers, sell more of their other products and make their money that way. Contrary to trying to make money by price gauging on a small few select items. After all the dust settles from this experience, the loyal Customers will remain.

 

its doesnt matter what the AMV is on the new car. the used value still goes off of the sticker price. look at the markups on the 03 cobras when they came out. i dont see any of them selling for 5-10k over blue book value. also look at the 00 cobra R. so once the buzz wears off you will still be able to find them used.

 

This sucks.

Thanks once again for the rich continuing to divide the country and for the country continuing to favor the rich.

It's a shame that, in many cases, this car will not end up in the right hands. There truly should be laws enforcing MSRP on initial sales (something that does seem to effect certain items but not others).

Flame away, moneybags. /booAmerica

 

Whose are the right hands? Enthusiasts? Like there aren't rich Mustang enthusiasts??

 

http://www.autoblog.com/2006/05/19/s...0-over-sticker

 

It is very likely there are many although I would be inclined to conclude they are not as enthusiastic as our group or others who frequent other Mustang forums. It is possible there are a few here but for the most part we are mostly blue, white collar workers and the majority. I don't think many of the rich visit TMS which might be due to considering enthusiasts boards as beneath their social and economic status.

 

I know of at least three members of my local Mustang club who have placed orders for a 2007 GT500. They each own at least 6 rare, pristine, low-mileage Mustangs and are hardcore Mustang fanatics.

 

As much as I hate to say it, the majority of us who can't afford it AMV or not, just have to get over it. If anyone wants to see a change in these kinds of practices, there has to be a unified effort by a large number of people to make it known they won't put up with that crap. As long as there are people ready and willing to pay, the dealers are free to do what they like. It's just too bad this kind of thing can further hurt Ford and its dealers' reputation in the long term.

 

You all might call the GT500 different, and to a point I do agree, but remeber the New Thunderbird, How about the Mach 1 in 2003, and what about the GT-40. The Thunderbird sold over sticker for the first year and then they could not give them away. The Mach, you were lucky to get sticker and then in late 2004 you could get them for invoice minus $3000 rebate. Best comparison is the GT-40, they are not selling. Dealers are still advertising them for over sticker and they are still sitting on the lots. I will bet by the end of this year you could get a GT-40 at invoice. I will also guess if they make a 2008 GT500 you will be able to pay sticker, especially with the new Camaro and Challenger. Just my opinion, take it for what it is worth. History has proven my opinion, not just with Ford, with other company's as well. You can already get the new Z06 for sticker.

 

Sorry...don't see the news here. It's gonna die down before number 2000 rolls off the line. Not worried......zzzzz

 

more money than brains...pretty much sums it up.

 

I for one do not believe this is the place to stir up the class envy subject, we heard enough of that during the 90's.

Please remember what MSRP is, Manufacturers SUGGESTED Retail Price. Go back to Econ 101, the value of any commodity is directly related to the quantity available vs. demand for said item. But maybe this is too obvious?

Besides, just wait a bit-as it has been said here previously!!