đź‘€ The 2018 Ford GT That Said No to $910k

PLUS: The final say on the Cybertruck auction...

The Daily Vroom


Hey there, Vroomers!

We're just about a week away from unveiling an exclusive interview that I'm pretty sure will grab your attention. But let's not get lost in the anticipation just yet. Time to dive into the highlights from this past weekend and more.

WEEKEND TOP 5 SALES

Collecting Cars really turned heads this weekend, showing off the upside of running auctions seven days a week. Among all the action, they landed three of the top sales spots. Now, I'm just spitballing here, but I'd wager that compared to the giants like BaT and Cars & Bids, Collecting Cars might be the underdog in terms of registered bidders. But, and it's a big but, they seem to be playing a different game—less about quantity, more about quality. They're not flooding the market, but when they do make a splash, it's with some seriously high-value sales, boasting the highest average sale price in the mix, even if their overall sale numbers don't quite match up.

Their ace in the hole? It's no covert operation—they've got physical offices and boots on the ground in several countries. This international presence isn't just for show; it's a strategic move that likely gives them an edge in securing those premium listings and high rollers. Sure, maintaining such a network, with a growing team to boot, doesn't come cheap. That's precisely why they can't take their foot off the gas when it comes to sales. Despite the cap on their earnings per sale (capped at a cool £6k or $7k), selling a $200k car versus a $500k one might not make a difference in their profit margin. But, keeping the sales engine humming? That's where their strategy really shines.

To delve into the specifics of each auction, click on the images.

2024 Porsche 911 GT3 RS Weissach $405,000

1957 Porsche 356 A T1 Speedster $342,750

2015 Ferrari F12 Berlinetta $240,000

2018 Porsche 911 (991.2) GT3 Touring $211,000

2022 Porsche 911 Carrera GTS Coupe $163,000

Two Sellers Who Said NO!

This past Friday, there were a couple of noteworthy non-sales in the auction world that really deserve a spotlight. The Cybertruck absolutely commands our attention first—it's been the center of a media frenzy, after all.

The Cybertruck has sparked quite the debate, with heaps of praise and criticism alike. From the conversations I've had—with five individuals who've had the luxury of driving this beast for more than five days—the consensus is overwhelmingly positive. It apparently takes a moment to adjust to its imposing presence on the road, but once you're there, the experience is unparalleled. They rave about its agility, the punchy acceleration, and the smooth ride it offers. And its appearance? Well, that's a conversation starter. Tesla really threw the playbook out the window with this design, challenging the sea of sameness we've grown accustomed to in automotive design.

Now, onto the auction drama. Despite the buzz, the Cybertruck didn't meet its reserve price at auction last Friday, topping out at $158,000. Whether that figure seems fair is up for debate, but the seller wasn't having it. A couple of red flags: the sale fell through, there were only 19 bids, and the seller's replies? Let's just say they were sharp as tacks—possibly with good reason, given some of the peanut gallery comments.

But let's not dwell on the negatives too much. The silver lining here is impossible to ignore. The bid soared $50,000 above the MSRP, and the auction itself was a magnet for attention—drawing in over 130,000 views and 540 comments. That's a massive win for Cars & Bids, spotlighting the site to an extensive audience. This might be the first Cybertruck we've seen hit the auction scene, but it certainly won't be the last. It's going to be fascinating to watch how future auctions play out on different platforms. Will this price be the peak, or is there another site out there ready to capture an even higher bid? The stage is set for an intriguing showdown in the auction world.

The 2018 Ford GT auction was quite the show, thanks to Wob's excellent presentation, yet it ended with no takers at a high of $910,000. The commentary around this has been a mix of people saying the market's best days are behind us and that those looking for quick flips might be in for a surprise.

Now, here's something interesting—despite the public no-sale, there's still a chance for a deal to happen out of the spotlight. Bidders know how to get in touch with the seller, which could easily lead to a private agreement. That's great news for them, but it leaves the rest of us a bit in the dark. BaT did a great job promoting the auction, and it’s a bummer they don’t benefit if a private deal happens. (a change has to be on the cards!)

Let's dive into the recent sales for some perspective:

  • In March 2023, a 2021 model sold for a whopping $1.7 million.

  • However, not all were hits: A couple of GTs from 2018 and 2019 didn’t manage to sell, with the highest bid at $950,000.

  • Throughout 2023, sales figures fluctuated, with some 2019 models nearing $950,000 and a 2018 and a 2017 model fetching between $800k and $900k.

  • Later in the year, another 2018 GT went for $900k, a 2017 model sold for $865k, and a 2021 model reached $950k after a couple of other models saw bids but no sales.

So, looking at the $910k bid, it actually fits within the trend of what we've been seeing. It's neither a steal nor a disappointment; it's right where you'd expect given the market's current temperature.

Here's my take: The $910k bid was fair, all things considered. We might not have seen fireworks, but it aligns well with the market's recent behavior. So I imagine that if any of the high bidders contacted the seller, the step-up to what the seller was looking for can’t have been that much more. With the saving of the $7,500 BaT buyers fee, they do have some extra room to negotiate.

Auction Highlights

Today, I'm steering away from the usual suspects – the Porsches, Ferraris, and McLarens that usually grab all the headlines. I figured it's high time to give some props to a few other rides that deserve a shoutout, each for its own special reason.

I don't think I have ever seen a Ford DeVille before, but this one is striking. One of approximately 80 made. I can only imagine what a presence this had in 1936 driving along Park Avenue.

Two ICONs in the same week... (the previous one here we write about last surprisingly did not sell for a very good high bid of $205k)

This one is more of a classic Land Cruiser build, but there is more than meets the eye. This has custom four door bodywork and with some rust visible, this might actually be an ICON that you can both afford and feel free to drive anywhere. 

I might even be able to get past the automatic transmission for this 2006 Audi TT roadster Special Edition, that has incredibly low mileage. I love these seats and less than a thousand miles on a 2006 means that the seat leather isn't even broken in. I do wish that the original purchaser added a third pedal, but this would be a fun time capsule to drop the top on.

This one is a little different from the above due to the ownership belonging to Doug DeMuro which has to be pushing up the sale price of this No Reserve 2013 Toyota Land Cruiser.

It's not without its quirks, though. Beyond the mentioned rust, (which is mentioned a lot in the comments) it's survived a deer hit in January 2022, leading to some replacements on the front end. There are also a few scratches, chips, and interior wear and tear—including a crack in the windshield and some dry rot on the tires. I’ll leave it to Doug for the final word.

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