B-J Sells First GT 500E Convertible for $550,800!!!!!

[reenmachine]

Holy crap!!!!!!

http://www.barrett-jackson.com/about/pressreleases/pb05Shelby.asp

Great....now we're gonna see a wave of Eleanor convertible clones...

 

[THX 138]

$550,800 continuation???!!!!!

 

[reenmachine]

$550,800 continuation???!!!!!

Yep. The one that's on the cover of the current Mustang Monthly.

 

[Hack]

Nice car, but that's more money than common sense, IMO. I guess if you had a huge garage and only liked looking at cars, trailer it to your garage, get it up on blocks and cover it up right away.

It's an investment, right?

 

[D.Hearne]

For that price the buyer could have had "his & hers" Ford GT's. Stopped by the local dealer today to look at the 05 Stangs, and there sat a GT in the showroom. Selling price is $250,000.

 

[reenmachine]

For that price the buyer could have had "his & hers" Ford GT's. Stopped by the local dealer today to look at the 05 Stangs, and there sat a GT in the showroom. Selling price is $250,000.

Yeah, and just sold at the same B-J in Palm Beach for $248k. I guess that's what they're bringin'....

I've never seen insanity like this before. Hope I can grab my little piece of it!

 

[68rustang]

That is absolutely insane. The only reason I can think that cars would fetch money like that is if it is a front for laundering money.

$520,800 profit on maybe $30,000 worth of parts and labor.

"But it's a real Shelby" my a$$.

 

[reenmachine]

$520,800 profit on maybe $30,000 worth of parts and labor.

Gotta disagree with you there. $10k for a donor car, 400 hours labor @ $50 (reasonable) is $20k, an all-aluminum engine with EFI isn't exactly cheap, etc.

I'd put cost at $60-70k. Price a car out in minute detail sometime & you'll be shocked.

 

[68rustang]

Gotta disagree with you there. $10k for a donor car, 400 hours labor @ $50 (reasonable) is $20k, an all-aluminum engine with EFI isn't exactly cheap, etc.

I'd put cost at $60-70k. Price a car out in minute detail sometime & you'll be shocked.

10K for a donor and they got robbed. I guess trying to control costs doesn't matter if you are making 1/2 mil in profits.

An all aluminum engine is much less expensive if it doesn't have Shelby written somewhere on it, EFI or not.

OK, so let's see, that puts us at $490,800 profit on maybe at a stretch $60,000 worth of parts and labor. I see no difference it is still absolutely assinine.

I am legally changing my last name to Shelby next week. The week after that I am going to start selling used cars with my signature on the dashboard. Wish me luck.

 

[Gud T.B. Blown]

Gotta disagree with you there. $10k for a donor car, 400 hours labor @ $50 (reasonable) is $20k, an all-aluminum engine with EFI isn't exactly cheap, etc.

I'd put cost at $60-70k. Price a car out in minute detail sometime & you'll be shocked.

even using your figures and doubling them for just for laughs the buyer still bought a reproduction for stupid money. it may be the "only documented shelby gt500e convertible in the world" for now, but i'm sure if someone else wanted one they would build it in a minute. and after all is said and done the car IS NOT AN ORIGINAL SHELBY MUSTANG, IT IS A WELL BUILT CLONE . i like 'ol carroll shelby as much as the next guy, i even named my daughter after his cars, but he'll whore his name out in a minute to make a buck, as the whole gt500e program proves, including getting the SAAC listing them in their registry.
this car reminds me of the $3.2 million todd macfarlane paid for mcguires 70th home run ball. once barry bonds hit 73 it's value sank like the titanic.
my hat is definitely off the unique, shelby, and especially barrett-jackson for parting a real fool and his money. job well done. i wish i would have met him first, i could've shown him this bridge i have for sale in brooklyn.

 

[65Mustang2+2]

ONE WORD "WHY"

 

[reenmachine]

OK, so let's see, that puts us at $490,800 profit on maybe at a stretch $60,000 worth of parts and labor. I see no difference it is still absolutely assinine.

Don't get me wrong -- I'm not disagreeing that it's totally sick. I'm just saying that it's not quite so cheap to build it. For sure, about $480k of that is for the "Shelby" name.

BTW, when they had this car on display at B-J in Scottsdale, I believe they were telling people $186,500. I bet retail on the series to surely follow will be near there.

 

[65fastback2+2]

the only reason i can see why is its one of a kind and it was built for Carrol himself, so *shrugs* when it goes for 1.5 million in 20 years you can all laugh and be like "darn i shoulda bought that!"

 

[TampaStang]

Do you at least get a B-J with the car?

 

[iamlance]

I'm pretty sure a large portion of the proceeds on this car was going to a charity, so the buyer was prolly being generous (maybe some tax advantages also)

 

[6Stang7]

i might be able to understand this if it was the 65/66 vert shelby's.

 

[reenmachine]

i might be able to understand this if it was the 65/66 vert shelby's.

But it's an Eleanor! Everybody wants an Eleanor! Just look at eBay!

 

[6Stang7]

But it's an Eleanor! Everybody wants an Eleanor! Just look at eBay!

seriously i wanted to buy a fastback but couldnt afford one because the price for one was too high, due to this craze to turn them into eleanor.

 

[limey66]

...when it goes for 1.5 million in 20 years you can all laugh and be like "darn i shoulda bought that!"

We had a boom in classic car prices in the eighties where Jags were fetching ridiculous money, and with every boom, there will be a slump. E type Jags are still at the top end of classic car money, but if you wanted one, you could have one. No way will that car ever be worth $1.5 million.

The current, and to me, completely baffling Eleanor craze will pass. One day, once the styling starts to date and people forget Gone In 60, they'll be broken for their parts.

That day is probably not too far off.

 

[65ShelbyClone]

You all know this should be in Talk, right? Of course you do, its so obvious.

The current, and to me, completely baffling Eleanor craze will pass. One day, once the styling starts to date and people forget Gone In 60, they'll be broken for their parts.

Hopefully they'll forget the recent(poor) remake of Gone in 60 Seconds and not the original. If I wanted Eleanor, I'd get a yellow '72 Sportsroof. How about the Howard Hughes germ-proof car that went for what, $1.5m?