250-mile Ford GT #02 could sell for $500K

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Corey Escobar ©2020 Courtesy of RM Sotheby's

The second production 2005 Ford GT is heading to the auction block for RM Sotheby’s online-only Open Roads sale November 11-20. Even in the world of limited-production ’05-’06 GTs, this early example is a significant piece of history that will surely be on collectors’ radar.

2005 Ford GT
Corey Escobar ©2020 Courtesy of RM Sotheby's

Powered by a 550-horsepower supercharged V-8 situation behind the seats, the supercar was a celebration of the Le Mans racers that cemented Ford’s racing status on the world stage. Just over 4000 were built. The first nine production GTs were set aside for internal sale to select Ford employees and family members. This one, number 02, was purchased at a charity auction in August 2003 by 21-year veteran Ford board member Michael Dingman and delivered a year later along with the first production GTs that came late in 2004. Mecum notes that chassis number 01 is probably in Ford Motor Company’s collection and won’t be leaving any time soon, making this the lowest-numbered Ford GT likely to be available to the public.

The three previous owners have taken excellent care of this GT and have accumulated a total of 250 miles on the odometer. As shown in the photos, it looks as though it could have rolled off the assembly line yesterday.

2005 Ford GT interior
Corey Escobar ©2020 Courtesy of RM Sotheby's

Not only does its early production and perfect condition make it desirable, but the car also wears all of the preferred options that GT collectors look for: racing stripes, the McIntosh audio system, painted brake calipers, and BBS aluminum wheels mounted with Goodyear Eagle F1 rubber.

2005 Ford GT BBS wheel
Corey Escobar ©2020 Courtesy of RM Sotheby's

We looked into this car’s sales history. In 2012, it sold for $242,000, which was 27 percent higher than its #1 (Concours) value at the time. Applying that same premium to today’s GT values, and we could see this stellar example approach $500,000. RM Sotheby’s is estimated $500K-$600K.

The new GT may be significantly more powerful and considerably more technologically advanced, but this V-8-powered machine has styling more in line with the original, unobtanium GT40s and a more analog driving experience. Of course, with just 250 miles on the odometer, the next owner may not want to rack up the miles unless they see this as an alternative to the newer, V-6 GT. Either way, we won’t have long to wait to see if this desirable collector makes waves and becomes the most expensive retro GT ever sold.

 

 

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