Drive It Like You Stole It!

In 2005, I bought a Ford GT in what I consider the heritage colors — Midnight Blue with white stripes. These echo the Guardsman Blue with Wimbledon White stripes livery of the 1964 GT40 that won the Daytona 2000 km Continental. Even after more than 18 years and 20,776 miles, my car is a thrill to drive. Not for one minute have I regretted buying it — or driving it.

I recall having dinner with Edsel Ford just after the car was announced. The MSRP had not been set, but he said the company was looking at asking $250k. As it turned out, the original starting price wound up being just $140k. That had me very interested.

The only four options were forged BBS wheels, painted brake calipers, stripes and a McIntosh audio system. I opted out of the radio (you couldn’t hear it anyway) and the wheels, as I was at the end of my budget. Nonetheless, the car was a bargain for what it represents and the performance, which is, in a word, spectacular.

Pickled pinks

Recently, a friend died and left his heirs with a 2006 Heritage Edition Ford GT with just delivery miles (6.8), window stickers and plastic driver’s seat protection. In short, a car that had never been driven. He also had a black one he drove sporadically, but the Heritage Edition was being “saved.”

His daughter asked me what I thought it was worth and how to sell it. My guess was a stab in the dark, maybe $550k to $600k on a good day. Broad Arrow auctioned that car at Monterey last August for a breathtaking $764,000. So much for my expertise.

That sale got my brain mulling over why someone would buy this car that, if used, would likely see depreciation exceeding its cost when new.What would be required to recommission a car that essentially hasn’t been driven for 17 years? What problems are created by not driving a car?

“Will need recommissioning”

If you buy an in-the-wrapper Ford GT, you will get a “new” car, but at a premium price. And in its current condition it will need a lot of care just to be made drivable.

With my Ford GT, I can tell you that it requires a trickle charger, as the gauges go bad if not on a constant charge. I have already been through two tachometers, a speedometer and a boost gauge — all of which are now unavailable new. Used original gauges are as rare as a Yugo on a NASCAR grid. You can get Speedhut aftermarket replacements, but as close as they are, they do not duplicate the originals.

The Goodyear tires were not the greatest when the car was new, and many have been changed for the Bridgestone equivalent. Anyway, after so many years, they would need to be replaced to drive safely at any speed. There are a number of other items — oil hoses, batteries, gas struts, etc. — that will also need replacing.

According to Rich Brooks of The GT Garage in suburban Detroit, the cost to recommission a Ford GT that has been dormant for an extended period of time is between $6,000 and $8,000.

YMMV

Yet in reading the Ford GT listings on Bring a Trailer, something I do religiously, there seems to be an abundance of cars for sale with almost no miles. Rarely do you see a car for sale like mine with 20k miles or more. It is a shame that these cars seem to have become something to trade for profit rather than for its driving experience.

I think what bothers me most here is that the Ford GT was never supposed to be a garage queen. We all understand that some collector cars are probably too rare or valuable to be driven to the Piggly Wiggly for a six pack. But not this car.

Chris Theodore, nicknamed the “Father of the Ford GT” for his role as Ford product development head at the time, is a good friend. He said the goal was to create an affordable supercar.

Well, Ford wound up building the affordable supercar. The first-generation GT has since become one of the most desirable collector cars of the modern era and an auction staple. But it’s also been an appreciating asset for anyone who’s ever parked one in their garage.

Normal?

I spoke with two collector-car dealer friends, Mark Hyman of Hyman Ltd. and Bill Noon of Symbolic International. All of us are “old school,” and have problems identifying with this “not-driven” trend. But it’s real, and not restricted to Ford GTs. Hyman says this is the new norm and that I am just old. I agree — on the ruler of life I am at about 11.5 inches.

That may make me out of touch, but it also gives me some perspective. I have always bought cars to drive, not park in my garage as jewelry. It would be eminently less expensive just to hang a really nice portrait of one on the wall.

My advice to anyone buying one of these delivery-mileage cars is to relish your new-car experience. I certainly did — and you’ve paid for yours. Then have the car serviced. Get in, latch the seat belt, and drive it like you stole it. You can enjoy your cars however you like, but you can’t tell stories about the things you didn’t do. ♥