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The SHELBY AMERICAN
Jeff Burgy’s
FORD GT CORNER
Spring 2019 11
Ford requires all purchasers of the
new GT to maintain ownership of the
car for two years. This requirement
serves to keep cars from being flipped
for higher and higher prices before
those selected to become owners even
get their cars. Ford’s procedure of
choosing owners who will put the cars
into the public eye is intended to give
the cars maximum publicity. They’d
rather not see the cars go to the high-
est bidders right off the jump and then
be hidden in private collections. The
company has proven it is willing to
legally enjoin anyone who breaks this
agreement. Just ask professional wrestler John Cena!
There’s got to be a way around this, of course, because an auction company will get more publicity than anyone in
a public sale like this, even if the proceeds go to charity and the auction house waives its normal seller’s and buyer’s
fees. A headliner car like this is expected to draw people to the event. Back in November, Ford announced that the very
first 2019 Ford GT, serial number #001, would be a Gulf Heritage model and would be auctioned at Barrett-Jackson in
Scottsdale with proceeds going to the United Way for Southeast Michigan. It was hammered sold for $2.5M
A recent lawsuit seems to have
settled the matter of premature sales
of the newest Ford GTs. Ford an-
nounced the details following a settle-
ment last November in an Indiana
court, saying that it clears up any lin-
gering confusion regarding the owner-
ship and resale agreement for the
newest generation of the Ford GT. The
suit was aimed at the Mecum auction
company following the appearance on
its website of a silver 2017 GT with
black racing stripes as the car was
headed to auction in Indianapolis in
May of 2018.
The car was still under the initial
agreement with Ford over not being
resold within two years. It sold at the
Mecum auction in May of last year for
$2M. The same car went through
Mecum’s auction in August and
reached a high bid of $1.6M.
When it rolled across Mecum’s
block in Indianapolis, a Mecum repre-
sentative said, over the public address
system, that a judge had ruled Mecum
could sell the car and, “
if Ford wanted
it back, they were welcome to come
here and bid on it.”
He went on to say
that the sale was legal and a buyer
would have no problems. “
It was con-
tested in court
,” the Mecum rep said.
“
You bid on it, you buy it, it’s yours. It’s
America, you can buy and sell what
you want
.”
Actually, the auctioneer’s chest-
thumping bravado proved to be a little
premature. After three months of
wrangling, the court decided that new
Ford GTs could not be sold in advance
of the two-year rule, unless the sale
was approved in advance by Ford.
Both Mecum and Ford declined to
comment on the terms of the settle-
ment but Ford’s agreement prevails.