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1968 390 GT/CS Sold at Mecum Houston

OP
OP
Mosesatm

Mosesatm

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Joined
Jan 18, 2005
Messages
9,009
I found it in the registry. Here's the Marti Report.
 

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prototypefan

Active member
Joined
Nov 3, 2017
Messages
31
This car was in a large collection in SoCal, nice clean car with no restoration underneath. It was priced at 32K and sold quickly and showed up shortly after at Mecum

https://www.mecum.com/lots/HA0419-373138/1968-ford-mustang-gtcs/
$34,650 result so the seller lost a little after commisions

Not sure on the actual sale price but Mecum shows $29,700 as a sale price now
https://www.mecum.com/lots/HA0420-412321/1968-ford-mustang-gtcs/

Depending on commissions the seller this time around lost at least $7,500.....ouch.

Love the colours on it
 
OP
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Mosesatm

Mosesatm

Well-known member
Joined
Jan 18, 2005
Messages
9,009
Yep, at least $7,500 but I think it's even worse than that.

For the first auction the car probably sold for $31,500 with the seller paying around 10% so he pocketed roughly $28,350. The buyer also paid 10%, hence the $34,650.

The recent auction, with a total cost to the buyer of $29,700 the auction price was $27,000. The seller walked away with only $24,300.

That's a loss of over $10,000.
 
Last edited:

Ruppstang

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Joined
May 22, 2009
Messages
3,032
I really do not feel too bad for the guys just flipping cars for a buck.
 

robert campbell

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Joined
Apr 10, 2007
Messages
4,321
Marty,
+ one on that thought. I do not like car flippers. Buy it an love it. Car flippers screw up the hobby...

Rob
 

Ricky Knapik

Well-known member
Joined
Jul 18, 2018
Messages
265
seems like most of them are losing money! only the auction house making money!
 
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