What a deal!
Plenty of people pay big to own a car once driven by a celebrity, which can help explain the $1,000,000 auction price for Tim Allen’s 2017 Ford GT. The modern supercar, which has only 700 miles on the odometer, was listed on Bring A Trailer, generating plenty of attention. According to the website, almost 121,000 people viewed the lot post. However, only 4 bids were placed, likely because the Ford GT is well out of pretty much everyone’s budget.
Check out Tim Allen’s car collection here.
For Allen, who owns a huge car collection he keeps in a warehouse, this sale has worked out quite nicely. The man obviously didn’t drive the supercar much, keeping it in mint condition. He originally shelled out $485,000 for it and had to go through a notoriously rigorous vetting process at the hands of Ford. That means he got away like a bandit on this auction.
At the same time, you might argue the person who paid only a million bucks for the supercar made out like a bandit. After all, Ford only make 1,350 GTs through the 2022 model year, so they’re not exactly common. A lot of people who have plenty of cash but couldn’t or didn’t want to survive the selection process Ford puts prospective buyers through have been waiting to get one second-hand.
Other Ford GTs have sold for well over $1 million. Considering this one was owned by a very famous gearhead would supposedly have boosted the price, but it in fact didn’t seem to affect bidding much at all. Perhaps Allen would’ve done better taking the supercar to a traditional auction?
It’s possible the market for such vehicles is cooling some and this is just an early indicator. If so, the buyer got less of a deal than some people are thinking at the moment. Even if that’s the case, there’s little doubt over time the value of the Ford supercar will increase dramatically, making it a solid investment. Plus, you can take it to the track and throw down, something you can’t do with a 401(k).