GAA Auction, Greensboro, NC - July 22-24, 2021
By Bob Kroupa
Dean Green has again hosted a large crowd at an auction of 650 special interest and collectable vehicles. The sold ratio exceeded 90% with ten vehicles exceeding the $100,000 threshold. Top honors went to a 1970 Chevrolet Chevelle SS Coupe, rotisserie restoration, with a rare LS6 454-450 motor. This Blue Chip investment grade collector car sold for $250,000!
Our primary focus was the 45 Corvettes that crossed the auction from Thursday through Saturday. Bidder participation interest was keen attested to by the 93% sales ratio of the Vettes crossing the block. Ringing the bell for the top sale at $190,000 was a first generation Corvette, a 1958 Resto-Mod Roadster with a LS3 engine, A/C and special White paint.
Virtually all generations were represented with the exception of the C7s (2014-2019).
At the low end of the spectrum was a 1995 Black Coupe, LT1, 6 speed manual transmission with 73,000 original miles that sold at the low price of $9,000. Yes, there were good buys at this auction, see our results below.
Stay tuned for the next GAA Auction scheduled for November 4-6, 2021.
By Bob Kroupa
Dean Green has again hosted a large crowd at an auction of 650 special interest and collectable vehicles. The sold ratio exceeded 90% with ten vehicles exceeding the $100,000 threshold. Top honors went to a 1970 Chevrolet Chevelle SS Coupe, rotisserie restoration, with a rare LS6 454-450 motor. This Blue Chip investment grade collector car sold for $250,000!
Our primary focus was the 45 Corvettes that crossed the auction from Thursday through Saturday. Bidder participation interest was keen attested to by the 93% sales ratio of the Vettes crossing the block. Ringing the bell for the top sale at $190,000 was a first generation Corvette, a 1958 Resto-Mod Roadster with a LS3 engine, A/C and special White paint.
Virtually all generations were represented with the exception of the C7s (2014-2019).
At the low end of the spectrum was a 1995 Black Coupe, LT1, 6 speed manual transmission with 73,000 original miles that sold at the low price of $9,000. Yes, there were good buys at this auction, see our results below.
Stay tuned for the next GAA Auction scheduled for November 4-6, 2021.
Your browser does not support viewing this document. Click here to download the document.
INVESTMENT GRADE VEHICLES
By Larry Rust
Question: Will new American vehicles be destined to become 'collectables' in the near future?
Answer: Research tells us there are few American vehicles that will become 'collectable' in the near future. The basic reason is that in today's market, numerous 'special editions' are introduced annually. On occasion the initial production models will sell over MSRP until supply meets demand. A classic marketing reason for this situation is the willingness of buyers to pay a premium for their purchase of the 'first one on their block' and corresponding bragging rights.
This trend continues with the 2015 Dodge Challenger SRT Hellcat that pumps out 707 HP and is priced at MSRP of $59,995 which includes the $1,700 gas guzzler tax. Also in the category is the 2015 Corvette Z06 rated at 650 HP with an MSRP of $78,000 and it's corresponding convertible model with an MSRP of $83,000. Early models of both these nameplates have become staples in the 'collectable' car category. Will these models rate this designation as well?
The hot ticket today is the Ford GT introduced in 2005. It was a design exercise by Ford modeled after their award winning race car, the GT 40. The GT 40 placed 1st, 2nd and 3rd place at Le Mans in 1966.
Our archives show the Ford GT, a modern day race car, was first shown as a concept car winning rave reviews in 2002 at the Detroit Auto Show.
The 2005 GT production car was powered by a mid-engine supercharged 5.4 liter V8 rated at 550HP. The engine was coupled with a 6-speed manual transmission with overdrive. Performance was excellent with acceleration of 0-60 MPH at 3.3 seconds. Top speed exceeded the 200 MPH mark.
The base price of the 2005 Ford GT was $139,995, and as expected the early models sold over the MSRP pricing. Only four options were available: a McIntosh Stereo @ $4,000; light weight wheels @$3,500; body paint stripes @ $5,000; and, Red or Gray painted brake calipers @ $750. Our friends in Washington also were involved in the pricing assessing a $2,600 federal gas guzzler tax.
Production continued for the 2006 GT model (the last year) with few changes other than the list price that jumped to $149,995. A new paint option was offered called the Heritage and was Light Blue with Orange trim including a simple Orange strip (Gulf Racing Team colors).
Total production for the two years was 4,038 units. Today the 2005-6 Fort GT is classified as an investment grade vehicle. We have registered recent sales from $250,000-$475,000. The most recent sale posting of $550,000 was for the 2005 model, VIN #3, the first retail GT offered for sale.
So back to the original question about new American vehicles being destined to become collectable. Our BOTTOM LINE is that the price paid for a new American special vehicle may not necessarily be an indication of it becoming an investment grade collectable. However, exceptions may be made for VIN #1 models, one-off models, limited production models and those with celebrity owner status.
Will the new Ford GT follow in the tire tracks of its predecessors?
By Larry Rust
Question: Will new American vehicles be destined to become 'collectables' in the near future?
Answer: Research tells us there are few American vehicles that will become 'collectable' in the near future. The basic reason is that in today's market, numerous 'special editions' are introduced annually. On occasion the initial production models will sell over MSRP until supply meets demand. A classic marketing reason for this situation is the willingness of buyers to pay a premium for their purchase of the 'first one on their block' and corresponding bragging rights.
This trend continues with the 2015 Dodge Challenger SRT Hellcat that pumps out 707 HP and is priced at MSRP of $59,995 which includes the $1,700 gas guzzler tax. Also in the category is the 2015 Corvette Z06 rated at 650 HP with an MSRP of $78,000 and it's corresponding convertible model with an MSRP of $83,000. Early models of both these nameplates have become staples in the 'collectable' car category. Will these models rate this designation as well?
The hot ticket today is the Ford GT introduced in 2005. It was a design exercise by Ford modeled after their award winning race car, the GT 40. The GT 40 placed 1st, 2nd and 3rd place at Le Mans in 1966.
Our archives show the Ford GT, a modern day race car, was first shown as a concept car winning rave reviews in 2002 at the Detroit Auto Show.
The 2005 GT production car was powered by a mid-engine supercharged 5.4 liter V8 rated at 550HP. The engine was coupled with a 6-speed manual transmission with overdrive. Performance was excellent with acceleration of 0-60 MPH at 3.3 seconds. Top speed exceeded the 200 MPH mark.
The base price of the 2005 Ford GT was $139,995, and as expected the early models sold over the MSRP pricing. Only four options were available: a McIntosh Stereo @ $4,000; light weight wheels @$3,500; body paint stripes @ $5,000; and, Red or Gray painted brake calipers @ $750. Our friends in Washington also were involved in the pricing assessing a $2,600 federal gas guzzler tax.
Production continued for the 2006 GT model (the last year) with few changes other than the list price that jumped to $149,995. A new paint option was offered called the Heritage and was Light Blue with Orange trim including a simple Orange strip (Gulf Racing Team colors).
Total production for the two years was 4,038 units. Today the 2005-6 Fort GT is classified as an investment grade vehicle. We have registered recent sales from $250,000-$475,000. The most recent sale posting of $550,000 was for the 2005 model, VIN #3, the first retail GT offered for sale.
So back to the original question about new American vehicles being destined to become collectable. Our BOTTOM LINE is that the price paid for a new American special vehicle may not necessarily be an indication of it becoming an investment grade collectable. However, exceptions may be made for VIN #1 models, one-off models, limited production models and those with celebrity owner status.
Will the new Ford GT follow in the tire tracks of its predecessors?