The first 2017 Ford GT, sold after the end of its embargo on the sale, cashed in $1.540,000 at an unreserved auction in Las Vegas. In a statement, Ford confirmed that it has secured a transaction of an unknown amount from Mecum Auctions that « resolves any persistent confusion surrounding the ford GT owner contract. » This money goes to the Ford Motor Company fund, which funds community organizations focused on education, safety and municipal services. As part of this comparison, Mecum Auctions agreed not to resell Ford GT to original owners who still have a two-year contract term. A Ford GT is available for approximately $450,000. By limiting the total number of parts to 450 and limiting potential resales, Ford hopes not to increase the price on the open market. A GT, originally owned by John Cena, was sold for $1.8 million at a Mecum auction, although its sale was not approved by Ford. Cena flipped the car weeks after delivery, and Ford complained and finally got rid of the wrestler. The second owner handed the car over with mecum, with the auction house arguing that the sale was kosher because the shipper had not reached an agreement with Ford. The auction house and the car manufacturer have also set up shop. Apart from a Ford-sanctioned sale earlier this year, modern Ford TGs have rarely changed ownership since their launch in 2016. Ford forced GT buyers to sign an agreement that they would not try to resell their cars for two years after the purchase in order to prevent scalping, and aggressively pursued those who thought above the documented undersigned. Professional wrestler John Cena drew Ford`s ire after selling his GT and taking it out of the next pursuit.
In the future, the auction company will also have to contact Ford for permission to sell Ford GTs from non-original owners who still have cars within two years of restriction. Ford also made it clear that the two-year sale restriction is still in place and that GT owners should not violate, or « Ford and Mecum are pushing together for all ford GTs` original buyers to comply with the terms of their agreements to avoid controversy, » Ford said. What we can say is that all Ford GT customers sign contracts that involve an agreement not to sell the car for at least two years. The moral of the story? If you own a GT and intend to return it before the first two years of ownership, you should reconsider it so you don`t want to wage a costly war with Ford`s lawyers. With the first deliveries of GT in December 2016, all but the first production vehicles are still under contract, but they are waiting for legal examples that will arrive in the near future in the auction blocks and showrooms of dealers. It seems, however, that this may not be as clear.