Ford Manages to Ban Mecum from Selling the 2017 Ford GT Without Permission
Does Ford think it’s Ferrari now?by Jonathan Lopez, on
While it’s certainly the case that we’re living in a special time with regards to enthusiast vehicles, the flip side is a tangle of profit-seeking and litigious backlash, as Mecum Auctions found out after it sold a 2017 Ford GT in Indianapolis.
In case you were unaware, Mecum Auctions is one of the premiere auction houses in the world, regularly facilitating the sale of top-shelf sports cars and supercars in a series of high-profile events every year.
In May of 2018, it was business as usual as Mecum auctioned off a 2017 Ford GT in Indianapolis.
However, the sale irked Ford something fierce, as the Blue Oval had issued an agreement with the original buyer that he would not resell his Ford GT less than two years after its initial purchase.
As such, Ford filed a temporary restraining order to try to prevent the auction house from selling the car. However, a judge ended up ruling in Mecum’s favor and allowed the sale to go through, arguing that Ford had time to act to make sure this particular car wasn’t sold, but failed to do so.
The 2017 Ford GT ended up selling for a whopping $1,815,000 at a Mecum even in Indianapolis.
Ford persisted with the legal wrangling, and after a year of back and forth, Mecum Auctions and Ford finally came to an agreement, with Mecum ponying up a settlement.
Ford Protects The GT?
The exact details of the settlement are under wraps, but Ford announced last Thursday that the money paid by Mecum would go to charity, specifically the Ford Motor Company Fund, which provides money to numerous philanthropic organizations.
What’s more, Mecum has now agreed that it will not auction a Ford GT prior to two years after the initial purchase, and must now consult Ford before to auctioning any Ford GT in the future.
This isn’t the first time we’ve heard about Ford getting upset over owners flipping the new GT.
John Cena, the pro wrestler and actor, was embroiled in controversy for doing exactly that.
According to reports, Cena resold his GT just two weeks of taking delivery, prompting swift action from Ford. After a legal tussle, Ford ended up suing the dealer that bought and resold Cena’s car, and Cena apologized and settled with Ford.
For reference, Ford has capped production of the GT at 250 units annually, each of which starts at roughly $500,000. Ford recently managed to auction off the first-ever GT Heritage Edition at the Barrett-Jackson event in Scottsdale, Arizona for $2.5 million (note: this was through Ford directly, and all proceeds were donated to charity).
In terms of performance, the second-generation Ford GT is equipped with mid-mounted twin-turbo 3.5-liter EcoBoost V-6 producing 647 horsepower. Power arrives at the rear axle by way of a seven-speed Getrag dual-clutch automatic transmission, with carbon fiber construction keeping curb weight at a relatively low 3,354 pounds. Sixty mph arrives in 2.8 seconds, while top speed is pegged at 216 mph.
All told, it’s fascinating that Ford is taking this approach with the new GT. Many high-end manufacturers, such as Ferrari and Aston Martin, enact similar agreements with regards to “car flipping,” as the quick resell can dramatically raise prices for consumers. And it makes sense - after all, manufacturers are very protective of their halo cars, and don’t like it when they are resold for a quick buck.
What’s your opinion on supercar flipping? Let us know in the comments section below.
Ford GT Specifications
|Engine||3.5-liter Twin Turbocharged EcoBoost V-6|
|Horsepower||647 HP @ 6,250 RPM|
|Torque||550 LB-FT @ 5,900 RPM|
|Fuel economy city/highway/combined||11/18/14|
|Dry weight||3,054 Lbs|
|Top Speed||216 mph|
Read our full review on the 2017 Ford GT.
Read our full review on the 2019 Ford GT Heritage Edition.
Source: Motor Authority