GT500's At Auction

[mach1fever]

Hey everyone,

 

In my quest for a 500 i have been using all of the tools at my disposal. I work for a financial institution (Credit Union), and as part of being a member we offer a car buying service that will look for cars at auction. I had them run a search and it seems 7k mile and below 07's seem to be running in the high 30's, however in the last couple of months within the region the same quality of car with the same mileage has been going for as low as 29k(low 30's average). I saw pics of the car and it looked like it was clean with a clean carfax. Seems to me its just a matter of time. It seems only yesterday we were all tracking arrivals with grabber with help from big turd, I mean big bird . For those looking used I would look into a reputable wholesaler.

 

Roger

[mrdci]

Hey everyone,

 

In my quest for a 500 i have been using all of the tools at my disposal. I work for a financial institution (Credit Union), and as part of being a member we offer a car buying service that will look for cars at auction. I had them run a search and it seems 7k mile and below 07's seem to be running in the high 30's, however in the last couple of months within the region the same quality of car with the same mileage has been going for as low as 29k(low 30's average). I saw pics of the car and it looked like it was clean with a clean carfax. Seems to me its just a matter of time. It seems only yesterday we were all tracking arrivals with grabber with help from big turd, I mean big bird . For those looking used I would look into a reputable wholesaler.

 

Roger

 

If you can find any for 30k buy it and resell it. Hell they still want 25K or more for Terminators. All the dealers in the DC area still have about 20K-15K markup on new ones.

[Michael Morris]

How about a 07 white with Red Stripe package? Just bought it at the sale Wed. It has 9K miles. Shaker 1000 instead of NAV.

 

Let me know if you interested. We are going to put it on ebay Monday and Im going to put some pictures in the GT500 for sale section.

 

michael morris

[mr4teth]

I had them run a search and it seems 7k mile and below 07's seem to be running in the high 30's, however in the last couple of months within the region the same quality of car with the same mileage has been going for as low as 29k(low 30's average).

 

What part of the country do you live in? Last week I looked at black book to see how bad the market was hurting our values and they're still bringing around $40k in the northeast. Hell if I can pick one up for 29k I'm going to buy another one to cost average their value and maybe sell one

[Money]

How about a 07 white with Red Stripe package? Just bought it at the sale Wed. It has 9K miles. Shaker 1000 instead of NAV.

 

Let me know if you interested. We are going to put it on ebay Monday and Im going to put some pictures in the GT500 for sale section.

 

michael morris

 

Michael,

 

How much for this GT500? May need a second one if the price is right.

[Michael Morris]

Michael,

 

How much for this GT500? May need a second one if the price is right.

I dont sell GT500s to folks in GA!!!

 

 

Just kidding, but it does seem that all my go out of state. I think we are going to put it on ebay for 44K, but if I can quick sell it and not have to floor plan the car for a couple of weeks Ill take $42500. It has all the RS stuff and the car cover. If your interested PM and I think I can send you the orginal invoice.

 

michael morris

[Michael Morris]

You got me thinking so this morning I came in and longed on to manhiem. They list what cars have sold for at the sale. I put in 07 GT500 and you are correct some of the cars are showing low 20s, but they arent GT500s. They are regular GTs. When we watch them go thru about half of the Mustangs show as Shelbys even when they arent. If you go back and look they are mostly 5 speeds (of course GT500s are 6 speeds) one automatic. They are showing 4 GT500s. They are all in the 40K range.

 

michael morris

[srk1959]

You got me thinking so this morning I came in and longed on to manhiem. They list what cars have sold for at the sale. I put in 07 GT500 and you are correct some of the cars are showing low 20s, but they arent GT500s. They are regular GTs. When we watch them go thru about half of the Mustangs show as Shelbys even when they arent. If you go back and look they are mostly 5 speeds (of course GT500s are 6 speeds) one automatic. They are showing 4 GT500s. They are all in the 40K range.

 

michael morris

 

Phew! Thats good news, I new I would take a hit but 20k would make me sick!

 

Steve

[sharabi]

I think this car will appreciate no doubt in my mind...who ever rushing to sell they have their financial reason ...If you hold on to what you have and you are not under pressure then wait....I am posting my car for sale on Autotrader.com for 50000$ and it had 1500 miles....every month I keep the price the same and crank up the millage which i adjust to what am driving which is now 2500 miles....call me crazy but i will remind the forum how much am selling the car for in few years.

[mach1fever]

Michael check the orlando region. THe one that sold was for 29k was out of tampa white with blue stripe last month Around here in fl they are selling cheaper. Remember guys auction prices isn't what your going to necessarily pay. There were a couple that sold in GA last month in the mid 30s. They were five hundred's listed with 6 speeds. It was the Central Florid region of Manheim

[Michael Morris]

I hope this works

 

Date Auction Sale Type Price Mileage Cond Color Eng Trans In sample

 

07/24/08 GTR TMPA Regular $26,500 12,661 Avg WHITE 8G 5 Yes

07/24/08 FRDKBURG Lease $24,500 22,303 Avg WHT/GRY 8G 5 Yes

07/23/08 GTR TMPA Lease $39,000 8,436 Above WHT_HP 8G 6 Yes

07/17/08 LAUD/MIA Factory $27,500 7,387 Avg WHT-HP 8G 5 Yes

07/16/08 SO CAL Factory $24,000 7,670 Avg WHITE 8G A Yes

07/16/08 KC Lease $40,500 1,037 Above BLACK 8G 6 Yes

07/16/08 DALLAS Regular $28,000 1,707 Avg WHITE 8G 5 Yes

07/15/08 FAAO Regular $39,500 3,868 Above BLUE 8G M Yes

07/09/08 KC Regular $22,500 6,987 Below BLACK 8G 5 Yes

07/09/08 DALLAS Lease $23,100 20,140 Avg BLACK 8G 5 Yes

07/08/08 FAAO Regular $37,500 18,826 Above RED 8G M Yes

06/26/08 CHICAGO Lease $28,000 1,957 Avg BLACK 8G 5 Yes

 

 

This is EVERY "GT500" transaction that has happened. Only 2 cars above show 6 speeds. The other are 5 speeds or M for manual. A for automatic. So we know these are GT500s. Im willing to bet that the only GT500s on here are the cars the brought 39K,40.5K, 39.5K, and 37.5K. And one of these could be a Rousch or something. The cars that show under 30K are either SGTs or regular GTs. Im not saying some of the Regular GTs might Rousch or Saleen, but I KNOW they arent GT500s. Other dealers would let a dealer buy a GT500 for 10K BEHIND rough book. I have been doing this to long. Other dealers DONT let anyone STEAL anything.

 

Im going to go the auctions listed and get the VINs. This is the only way to know for sure.

 

michael morris

 

 

Just in case someone is wondering about the VERTS.

 

03/14/08 NEVADA Regular $41,000 5,953 Avg BLACK 8G M Yes

05/07/08 CEN FLA Lease $45,800 3,779 Above BLACK 8G 6 Yes

05/08/08 SO CAL Lease $44,400 4,782 Above D3/RED 8G 6 Yes

05/14/08 DET METR Lease $41,300 12,435 Avg RED 8G 5 Yes

05/30/08 NEVADA Regular $44,000 1,334 Avg GRAY 8G 6 Yes

07/02/08 NADE Regular $43,700 5,866 Avg WHITE 8G Yes

[Michael Morris]

Michael check the orlando region. THe one that sold was for 29k was out of tampa white with blue stripe last month Around here in fl they are selling cheaper. Remember guys auction prices isn't what your going to necessarily pay. There were a couple that sold in GA last month in the mid 30s. They were five hundred's listed with 6 speeds. It was the Central Florid region of Manheim

 

 

Tampa has 2 cars listed as sold. I have found both in the post sale report. One shows SHELBY the other is a GT.

 

 

2007 MUSTNGSHELBY 8G 2DCP 6 PS PB AC 8,436 WHT_HP $39,000

2007 MUSTANG GT 8G 2DCP 5 PS PB AC 12,661 WHITE $26,500

 

 

As you can see. Only one of these cars was a Shelby GT500, but they were both listed as GT500s.

 

Doesnt show any in GA that was sold at MANHEIM that brought mid 30s. Now I only have info for MANHEIM auctiions. If they went thru a different auction then I might be wrong, but the black book we use take into account 8 GA auctions. If the car dropped that much the book would show it.

 

I watched a 07 SGT bring 28K last week at the sale? Please dont think Im trying to prove you wrong to be a smart butt. I just know these cars are still bringing HIGH 30s to LOW 40s WHOLESALE. They ARE NOT in the 20Ks. I will buy every GT500 that runs thru the sales that havent been wrecked if I can get them in the 20Ks. 10K back of rough book I can would make a killing!

 

Just want the info to be correct.

 

michael morris

[ShelbyDude]

Tampa has 2 cars listed as sold. I have found both in the post sale report. One shows SHELBY the other is a GT.

 

 

2007 MUSTNGSHELBY 8G 2DCP 6 PS PB AC 8,436 WHT_HP $39,000

2007 MUSTANG GT 8G 2DCP 5 PS PB AC 12,661 WHITE $26,500

 

 

As you can see. Only one of these cars was a Shelby GT500, but they were both listed as GT500s.

 

Doesnt show any in GA that was sold at MANHEIM that brought mid 30s. Now I only have info for MANHEIM auctiions. If they went thru a different auction then I might be wrong, but the black book we use take into account 8 GA auctions. If the car dropped that much the book would show it.

 

I watched a 07 SGT bring 28K last week at the sale? Please dont think Im trying to prove you wrong to be a smart butt. I just know these cars are still bringing HIGH 30s to LOW 40s WHOLESALE. They ARE NOT in the 20Ks. I will buy every GT500 that runs thru the sales that havent been wrecked if I can get them in the 20Ks. 10K back of rough book I can would make a killing!

 

Just want the info to be correct.

 

michael morris

 

 

+1000

 

I'd grab every GT500 that brought $35K in a New York Second and make $5K in a day off that! $7K on a good day!

[mach1fever]

I will clarify the auction he was using on monday

[idareu]

Once Ford stops production it will be a rare thing to see a GT500 at auction. I believe that the prices at auction will be the same eight years from now.

[TurboGT]

I think this car will appreciate no doubt in my mind...who ever rushing to sell they have their financial reason ...If you hold on to what you have and you are not under pressure then wait....I am posting my car for sale on Autotrader.com for 50000$ and it had 1500 miles....every month I keep the price the same and crank up the millage which i adjust to what am driving which is now 2500 miles....call me crazy but i will remind the forum how much am selling the car for in few years.

Just curious - why waste the time to list the car for sale if you don't really need/want to sell it in this economic market?

I don't mean any affront - just don't get the logic if you intend to let the car appreciate for a few years anyway. I think I'd sell a kidney before I sell my Shelby & I probably couldn't get as much for the kidney!

[Cobramach1]

I think an interesting thing to watch is what people are really willing to pay for these cars vs what they are being offered for. Ebay is a good indicator of that. It's becoming rarer to see anyone willing to pay over $40k for a used one any longer unless they are an ultra rare color combo. Most are being bid up to around $35-38k for coupes and $37-40k for convertibles and that is where the buyers are stopping, so the cars keep getting listed and relisted over and over again with no sale. This is what I've been seeing consistently now for the past month. Color is definitely playing a huge factor in this as well. It will be interesting to see what continues to happen in the near future. The gas crisis and the companies switching gears in what vehicles they are going to put out will also affect the prices of these cars. If they drop the high horsepower cars like was done in the 70's I think it will have an opposite affect that it did back then. In the 70's the gas guzzlers weren't worth anything, whereas today I think you'll have everyone scrambling to snag them up driving up the prices, so we could possibly see an increase in value in the near future in that scenario. It will really depend on what continues to come out from the manufacturers though. If they keep offering high horsepower cars to the specialty market in light of the economy and gas price problems, then I don't see these cars going up in value since folks will just keep buying the "new" one and getting rid of their old ones. Fact of the matter is, many people like to be the "first on the block" to have that cool new ride and no matter the cost they will have it. As bad as the economy is, there are still plenty of people out there with money.