1968 390 GT/CS Sold at Mecum Houston

[Mosesatm]

This car just sold for $27,500, including the fee.
https://www.mecum.com/lots/HA0420-412321/1968-ford-mustang-gtcs/

 

[stangfan]

A few minor cosmetics need addressing, but a very nice car for the money.

 

[Mosesatm]

I found it in the registry. Here's the Marti Report.

 

[Ruppstang]

That was a buy on a big block. The X code hurts it a bit.

 

[Ricky Knapik]

seems cheap

 

[prototypefan]

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

 

[Mosesatm]

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.

 

[Ricky Knapik]

thats crazy!

 

[Ruppstang]

I really do not feel too bad for the guys just flipping cars for a buck.

 

[robert campbell]

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]

seems like most of them are losing money! only the auction house making money!