This car, Lot 725, sold for $495,000, including buyer’s premium, at Barrett-Jackson’s New Orleans, LA, auction on September 30, 2023.
The 2005–06 Ford GT may just be the coolest supercar ever made. That’s a bold statement, and not everyone will agree, but stay with me. Let’s go back to the beginning of this century. Ford Motor Company CEO Bill Ford was cooking up ideas for a new supercar with the hope of bringing some performance cred back to the brand as well as celebrating its upcoming 100th anniversary, a creation that Henry Ford II would have tipped his hat at. What better than to return to the glory days of Ford racing, when the Deuce’s efforts to stick it to Ferrari at Le Mans were finally realized?
The weapon of choice back then was the Ford GT40, which became the most sensational race car of its day. The waist-high roofline was akin to a rock star with a low-slung electric guitar. It’s still the automotive definition of 1960s cool, and the same presence transfers to the next-gen Ford GT.
Saleen the savior
In 2002, Ford turned to racer and tuner Steve Saleen to turn the Ford-sketched throwback concept (codenamed “Petunia”) into a street-legal package that would also give the competition at Le Mans a run for its money. By this point, Saleen had made a real name for himself with the development of the S7 supercar, which was still winning races with a pushrod engine. Steve, proving his worth, built three prototype cars (fittingly painted red, white and blue) for Ford to use to promote its centennial in 2003. After that, Saleen took over most of the development and mule testing of the new GT.
Vehicle production was moved from sunny California to a dilapidated building in Troy, MI, that was renovated with a state-of-the-art assembly line and paint facility. Final assembly was done at the Wixom plant so Ford could take the credit for the 4,038 GTs that were ultimately produced over two model years. That the Ford GT was largely developed by Saleen was not unlike the GT40 being developed by Shelby American.
The price point of the GT was a huge selling factor, and this was a lot of car for the money. While the $150,000 MSRP in 2005 was nothing to sneeze at, the Saleen S7 cost roughly triple the dollars a few years prior, and the contemporary Ferrari Challenge Stradale was over $190k.
Never enough
Some would argue that the GT’s supercharged 5.4-liter V8 was just a truck engine with a blower, but not really. Ford did use its proven modular engine, adapted for use with a twin-screw supercharger that could deliver 550 reliable horsepower. These cars were also open to modification if that itch needed scratching. The original owner of our subject car certainly thought so.
Enter Texas-based Hennessey Performance, which offered a new dimension of performance through its GT1000 package. Named for the target of 1,000 horsepower at the flywheel, Hennessey added twin 67-mm turbochargers to pressurize the intake air charge before the factory supercharger got a hold of it. Fuel-system and computer-management upgrades, along with a custom intake, round out the package. The only exterior aesthetic modification was subtle “GT1000” rocker-panel decals. The driver gets to admire his numbered dash plaque while driving, and there is an engine-bay plaque as well.
It is unclear how many first-gen Ford GTs were modified by Hennessey; the tuner seems to not keep records for long. Nor does it retain any pricing information, according to Hennessey’s marketing department, after much correspondence. This car is Hennessey serial number 07, so we can assume at least six others exist. Contemporary performance claims included a 2.6-second 0-60 mph runs and a 240-mph top speed.
Buy it to drive
Historically speaking, aftermarket tuner modifications do not improve collectability or value. In fact, they tend to polarize enthusiasts. But when the modifications are made in-period, that perspective can change over time. Performance guys immediately get excited, and I think that affected the price here over stock GTs. Our subject car’s near-20k miles can be considered high with so many low-mileage examples out there. But at least a few of these cars have been driven, as their reliability was no worse than any other Ford product, despite what Jeremy Clarkson of “Top Gear” fame has said.
The price paid here was at the top of the market but not over the top, especially for special variants like Heritage Editions, which should hold their value better than this Hennessey. If the new owner is simply looking for a unique supercar to have fun in, I like the price. If the new owner wants a return on the investment, I think unmodified and lower-mileage examples would be more prudent. Well sold today, but the new owner should do fine in the longer term. ♦
(Introductory description courtesy of Barrett-Jackson.)
