News Rally: Kona Blue Anniversary Mustang Gallery, Ford GTs at Auction
In this news rally we’ve got shots of a Kona Blue 50th Anniversary Mustang, and a Ford GT auction recap plus market analysis.
Kona Blue Anniversary Mustang is Worth a Look
By Detroit Steel
Since Ford first announced plans for a 50th Anniversary model of the new Mustang, it’s been the Wimbledon White model that has gotten all the attention. However, the Kona Blue model has a fan base of its own.
Photos of a Kona Blue S550 posted in a thread here by Mustang Source forum member “Twin Turbo” (who’s ordered a blue 50th Anniversary model) show why.
Ford GTs Go Up for Auction
By Jonathon Klein
Last weekend two Ford GTs crossed the Mecum auction block, both selling for a total of $635,000. While this is still quite a bit of money, and definitely a windfall for the sellers, the two GTs didn’t sell for what everyone thought they would sell for. Add to the fact that there was a third GT that didn’t sell at all, and the investment plan of owning a Ford GT might be on the decline.
One of two things may have perpetrated this slight decline in value. First off, prices might finally be stabilizing. Over the past few years Ford GT prices have tripled in value. This is due to the supercar’s limited production, and how many remain unwrecked and unmodified. Those few cars that have survived are now in rarified air like many of the Ferraris of the 60s.
The second possibility is the rumor that the Ford GT might be getting a revamped generation for next year. We’ve mentioned before that for Ford’s Le Mans anniversary the company was rumored to have been building a Ford GT successor to race at Le Mans, as well as producing an accompanying street car. The possibility that there may be a new Ford GT would definitely signal buyers to hold off on purchasing one in fear of the market dropping drastically because of new inventory.
While the owners of the two GTs cut their cars loose, the owner of a Le Mans Gulf Heritage Edition did not. The bidding got up to $450,000, but stalled out after. Prior auction estimates, which included another Gulf Heritage Edition that sold last year pegged this one to be in the high $600,000 range. The fact that it couldn’t even get up to $500,000, while not completely indicative of the market, does present a challenge to what used to be a sound investment.
This all could mean nothing, though. If the right buyers aren’t in the room or on the phones, then no car, no matter how rare or desirable will sell. You need a few people who want it desperately to be bidding. Obviously those buyers just weren’t there this weekend. We will have to see how the next few Ford GTs sell and if Ford announces a new model soon to see if prices will continue to drop.