Mecum Auctions has sold a 2017 Ford GT for an eye-watering $1.65 million, a sum which rises to $1.815 million with buyers fees included.
Seeing desirable performance cars hitting the auction block shortly after being delivered isn’t an uncommon sight. What makes this case so interesting is the fact that Ford GT customers signed contracts stipulating that they wouldn’t flip their cars before two years at minimum.
This particular GT, number #048, has just seven miles under its belt and was sold after a bidding frenzy that lasted just two minutes. Remarkably, the final sales price is more than three times the original $450,000 MSRP of the Ford’s mid-engine supercar.
Prior to the auction, Mecum chief executive Dana Mecum said the company had been given the go-ahead to sell the vehicle.
“A judge did rule in Mecum’s favor that we can sell this car, and if Ford wanted it back, they were welcome to come here and bid on it. We had some people worried that there would be repercussions. There are no repercussions with this car. It was contested in court.
“You bid on it, you buy it, it’s yours. This is America. You can buy and sell what you want,” Mecum said.
In a statement, Ford said: “we do not comment on individual customer or legal matters, but can say that all buyers sign agreements to maintain ownership of new Ford GTs for 24 months.”
This isn’t the first time Ford’s GT buyer contract has been called into question. Last year, the Blue Oval sued wrestler and actor John Cena for flipping his GT shortly after taking delivery.