$50,000 loss in value: 2005 Ford GT takes a HUGE price cut | The Appraiser

Episode 28
In this episode of "The Appraiser," Colin has the opportunity to look over a 2005 Ford GT with over 31,000 miles on the odometer. A Ford GT with this kind of milage is unheard of. Despite the high milage, the interior and exterior remain in great condition thanks to the owners love for the car. Will this Ford GT maintain a high price tag or will it take a cut due to the mileage? Tune in and find out.
This episode is presented by Hemmings (www.hemmings.com/)
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[@dhara1002]

These are the kinds of owners we love! The ones who use the car the way they were designed to be!

[@Zzus321]

I wouldn't buy a low mileage car All the seals dry up and leak. Cheers to him 👍👍😎

[@occasionalmotorcycling]

I always have respect to owners who not just keep car nice, but also use it. Why would anybody buy a car, if not to drive it?

[@orincoon5585]

I have a limited edition 2010 Shelby GT500 and I love driving my car all the time. So many people give me a hard time for daily driving my car but I didn't buy it to hide it in a garage or as an investment.

[@custos3249]

What? You mean people invented a use for these cars beyond garage ornaments?

[@ispeed7013]

Right, cars want to be driven!

[@davidhunternyc1]

In the 18 years since Bill bought his car, he's only put 1,700 miles a year on it. 31,000 miles is still very low mileage. In fact, the 1,700 miles a year Bill did drive his car is better for the car than the damage that could have happened sitting and collecting dust.

[@MyWolffy]

Exactly !!!

[@Gmayneful]

When u put it like that. Sheesh he barely drives it. 140 miles a month ain’t shi* lol

[@UmmYeahOk]

1,700 miles a year is basically preventive maintenance. Keeps things lubricated. It’s also possible that he’s retired or works from home and therefore does daily it. I barely put 2000 miles on my car annually and that’s just because I mostly just drive it to pick the kid up from school and groceries. A mile or two a day.

[@omieyouknowme]

Most insurance companies for special cars limit you to 2500 miles a year. The state restriction is 4500 miles for me

[@JesusDisciple916]

​@@omieyouknowme What do you mean, your state limits you to 4,500 miles a year? What state and for what reason, exactly?

[@scorpioassmodeusgtx1811]

“I wish I drove my supercar less.” Said nobody on their deathbed ever.

[@PowerstrokeSynd]

Facts

[@gsmith207]

haaa! best one!

[@BabyJesus66]

The people that can afford these kind of cars have 10 of them and drive each 3000 miles instead of driving one 30,000.

[@MH-wo4be]

Most awesome response ever!!!

[@deviouslaw]

@@BabyJesus66 Obviously not all of them.

[@williamegler8771]

Kudos to the owner! Instead of letting the vehicle become a trailer Queen or piece of garage art he's actually out enjoying it!

[@somerandomness4285]

I'd rather own one with mileage vs one with no mileage, at that point its just an expensive paper weight. Go out and drive it!

[@super-kami-guru]

Yup not driven/sitting means all the rubber hoses/bushings need replacement

[@spankymagee]

​@@super-kami-guruexactly, go out and lube that rascal weekly!! A 500 mile 20 year old car would be an absolute disaster of constantly replacing everything.

[@XxMusclecarsxX]

they have good mod motors too, they'll do the miles easily!

[@juanc5149]

I never understand value loss due to higher mileage

[@danmyers9372]

@@juanc5149 - Don’t ever by a Ferrari Juan.

[@chesspiece81]

Does it having 1 meticulous owner with 31k miles really hurt it that much compared to one with 3-5k miles and 4 or 5 owners? I know it wouldn't bother me to know it's been driven and used and not left to sit and rot.

[@MyWolffy]

I would pay more for this car than I would a 5k mile multi owner car all day. This guy knows the car and has cared for it and it shows.

[@r4raced4doom2]

The Concourse snobs are behind it all. I agree, vehicles left to sit usually end up rotting all the seals out of it.

[@CPAJayhawk]

Yes, it does, the museum piece models set the market

[@ambivalentonion2620]

a car with mileage is much better to actually use and less trouble down the line, having it sit is bad for the car

[@jeffk464]

Its just a Ford V8 it should handle having miles put on it so long as its well cared for. Since its also just a Ford V8 its easily replaced.

[@dave0110aaaa]

awesome, i'm glad he is driving it and not just letting it sit!

[@lutomson3496]

I wanted to buy one but I couldnt fit like this guy im to tall so i bought a Lamborghini instead I fit into it

[@colehara]

The Ford GT is one of the beautiful cars ever built. I admire the owner for driving it and enjoying it while taking good care of it. If you own a sports car, a muscle car, a hot rod or a classic and you don't drive it then you're just leaving it for someone else to enjoy.

[@louisliu5638]

and you CAN'T just "leave it" unless you have a climate controlled environment for it. seals, rubber, and even electrical with ground out over the years. drive the damn thing.

[@gabon4000]

The "INZOWHO" on the license plate is such a nice touch on this car.

[@JustinTorres-mp7zp]

Would be better if it was spelled correctly, but agreed

[@email4664]

@@JustinTorres-mp7zp Enzowho is taken already, I believe

[@monkeybarmonkeyman]

Actually, considering the age, the mileage could be viewed as a plus. Too often machines get purchased for 'investment purposes' when in reality, to use them as intended, you'd have to drop buckets of money into them just to get them ready. I like the man's use of a very desirable car. Hat's off to him for sure.

[@danmyers9372]

Unfortunately it just doesn’t work that way. High mileage really hurts the value of super cars. Obviously this owner understands this and chose the enjoyment of driving this amazing car vs maximizing his investment value. A true enthusiast whom I admire.

[@truereaper4572]

@@danmyers9372 But this has only 31k miles, really not that much.

[@charlesdalton985]

Stunning automobile and a great owner. His car has gained value since he bought it, and he’s gotten thousands of miles of enjoyment. That is a win-win. Thank you as always ~ Chuck

[@bradwilliams4921]

That’s a pretty cool story. Congratulations to the owner. I hope he gets many more safe miles of enjoyment out of it. That is a nice car.

[@whatta7793]

These cars literally do NOT age. These things millions times better than almost every modern car. I give this guy huge props for enjoying this beautiful machine.

[@elliottbutts153]

And that’s an example of one you want to buy. So you can go drive it too. Still to this date one of my favorite cars. Beautiful and aggressive looking without all of the angular lines that most of the Supercars have had for a couple decades now. 👍🏻👍🏻

[@pabo8080]

I don't think the lighting in there did it justice

[@ericgowen93]

Nothing but respect and appreciation for this car and the owner. Great appraisal video!

[@Kiddomotive]

Keep in mind it didn't cost him $50k to drive that far. He got PAID $100k+ to drive it, with appreciating values. Absolutely fantastic. My 2005 GT will be back from paint in about a month or so, currently at 5k miles and I intend to take it out often!

[@CPAJayhawk]

Why did you need a paint job already?

[@danmyers9372]

More like $125 - $150K right? The cars were $150K new.

[@Kiddomotive]

@@danmyers9372 you are right, I was just being conservative haha!

[@Kiddomotive]

@@CPAJayhawk original tires and no traction control, a terrible mixture. Mistakes were made, but will be good as new shortly!

[@arkhsm]

@@Kiddomotive Reminds me of the Throttle House review !!

[@FirstSuiGeneris]

Loved the license plate!

[@johnhuber7188]

Awesome that the owner drives it and enjoys it 👍👍👍👍👍

[@jamesweir2943]

I bought a Shelby GT500 and my buddies all said oh that’s nice park it in the garage and take it out on Sundays. I used it for four years has my daily driver, and just like the gentleman with the GT 40 enjoyed every moment of it.

[@MuppetsSh0w]

Respect to the owner

[@gtoger]

I'd argue that it's better to find one with miles. A well-exercised machine will be more reliable and better maintained than one that just sits around.

[@arevee9429]

Great car. Good proportions and isn't too big or too flashy. And loved the plate!

[@SURENITY]

That 31k miles is essentially preventative maintenance for that engine. Regular driving keeps things lubricated. He should keep it if he can and enjoy it!

[@williamgreen1489]

Bill is the kind of owner/driver that should have these cars. The one that only have 500 miles on them are wasting not only their time but the cars time as well. Hats off to Bill, keep driving her!

[@jdmlordsalamander6397]

Great video and still a beautiful piece of machinery!!!!!!

[@B4Uagain]

Thank you Ford GT owner for driving your car. When young children see your car, I'm sure you inspired them to becoming the next true gearheads.

[@ls6097]

Which is ironic as their parents yank that opportunity away from them by allowing....no, ENCOURAGING.....tyrants to force everyone into communal transportation appliances.

[@enesfazlic6017]

It was built to be driven and driven hard if need be. And the guy drives like he owns it. You the man in my books too.

[@smink1701]

Another great vid Colin. Thanks!

[@FarmerDrew]

How hilarious to the engineers that designed this engine that it would become a museum piece and never even get fully broken-in

[@Derf1313]

Fell in love with the shape in the mid 60's when I was a kid. Made models, HO & Slot car bodies, etc. Never gonna afford a real one tho... Thanx !

[@TalkingHands308]

With how rare it is to find one of good condition and not wrecked, I'm pretty sure if he wanted to sell it he could easily find that one guy who is willing to pay him far over what it's appraised at... When it comes to "luxury" items like these, they're worth what people are willing to pay for them. So the actual value can vary greatly from any appraised value.

[@ls6097]

Agreed, since 2020, there is no role for some guy calling himself an "appraiser"....apart from making youtube videos where he pretends to magically know what the market will bring on a car.

[@jayyoung5423]

I've have a 14 500 I purchased new. It has @ 7k miles, I need now to get out and drive! Thanks for this.

[@Darkhalo1]

More people need to drive these cars !!

[@tk848]

I saw someone driving one a couple months ago the same exact color. It was the first time I'd seen one on the road in years.

[@joshuakhaos4451]

I havent seen one since I was a teenager back when these were new. And they still had one in the ford showroom waiting to be bought in 09 due to the recession. I still remember that trip to the dealer, It was the Ford GT and the rest were all Mustangs. And some very rare, performance ones too. There was 3 shelby's, A basic Roush GT, A 427 Roush, A Saleen Roadster version, A Bullit and a Steeda built GT(complete with a roll cage, aftermarket seats, aftermarket wheels, body kit and a big spoiler). They had so many Mustangs in there that I had to be careful getting in and out as to not damage them since they were that close to each other.

[@Armour783]

The funny thing is, this car is probably worth more than some of the low mileage ones. It seems like every other day there's a "delivery" miles GT on BaT. Whereas I hardly ever see a GT with 10,000+ miles on it. So if you were looking for a GT that you could actually drive and use without losing value, like this one, it would be harder to find.

[@chorn74]

it is not worth more than lower mileage ones. it may hold its value better for putting on additional miles as opposed to lower mileage cars.

[@bindingcurve]

Read back what you wrote, that is the most contradictory statement I ever heard.

[@Armour783]

@@bindingcurve I realize it's not reality. Collectors only care about low mileage. I was saying that ones with higher mileage are actually more rare then ones with "delivery" miles.

[@MyWolffy]

Thanks so much to the owner of this car for enjoying it and not letting it rot away

[@TerryManitoba]

I am a "drive it" kind of guy as well. On my 993 & 07 GT3 of which I put on a total of 55k miles - I figure I "gave up" $1 to $1.25 per mile for those extra miles. All worth it...

[@gregoryjowers3629]

Yes sir I don’t blame you.I would drive it on weekend too glad you have fun in it.

[@tylerwoods2746]

Watching this in my 08 mustang GT, noticed the steering wheel is identical. Kind of cool

[@Lord-hoboco777]

People who buy supercars just to look at shouldn't be allowed to own them.. Full respect to the man for enjoying his GT

[@06VistaBlueGT1]

He's still light on the value, even at $300K. Cars with all 4 options with mileage in the 4-figure range are over $450k now. 3-digit mileage cars are closing on or eclipsing $500K. People don't care if it has mileage like this car. It's better off as all the consumables are in good shape (vs cars that sit for years and rubber hoses & belts dry out). I'd put the value on this car more in the $350k-$375k range. People will pay good money even with high mileage. They don't care and just want it to drive.

[@HiFiInsider]

how come there is not hose to the exhaust for ventilation when you started the car indoors.

[@kevinmckinzie]

Going from a De Tomaso Pantera to an 05 GT is a really big upgrade. I bet he wishes he still had the Pantera though.

[@peanutbutterpadre1519]

high mileage 1 owner deals are my favorite cars to buy

[@sumtingwong5942]

Need more owners like that. It sucks that vehicles such as that are hid away behind closed doors.

[@stevelee8437]

Awesome review. However, I think the car is actually still worth over $300k. My GT has just over 10k miles and my license plate say NO ENZO. Looks great parked next to Ferrari's...;)

[@rickybobby8224]

I was passed by a GT at a track day. I've never been so happy (seeing someone actually driving one)

[@skagamnesia1972]

Nice car glad he enjoys it, I would . He is a lucky man

[@MidwestMotor]

GOOD FOR HIM! Seriously, I don't know how anyone can have/own an amazing car of any kind and watch it just SIT!!! I want to drive it man! Again, good for him! 🏁🏁🏁🏁

[@hpygolkyone]

Bill don't need the dough. The look on the guys face the whole time tells the story. He EFFFFN LOVES THAT CAR! Go Bill!! The only thing I want to know is "if he's adopting, I'm available".

[@archenok]

so glad to see both car and owner getting to live the dream. garage queens get deprived of the open road

[@toyota420xp]

With 30,000 miles thats still not a lot and its shook down all the initial problems are sorted. My other take is if you can't drive it its not a car. Any other car 30k is lower mileage. Plus the red is beautiful

[@rnrjunkie724]

"I bought it to drive it". Nice! It's 2023 and I have yet to see a current model Gen2 GT in the wild. Ford's purchaser selection process needs to be revised, IMO.

[@stevenvilardi8626]

I have always admired that family of Ford GTs but being 6' 3" tall I would never be able to drive it especially with my recent bulk of 300 lbs. I did fit in a Lamborghinni Miura once and I was able to enter and exit it with less problems than I had with MG Midgets and Sprites. Another tough one was the Mazda Miata ( could not even crank the window down) but I have no trouble with either my C-3 or my C-5 Corvette.

[@diabloroadster6461]

Yes you can, easy....I am about your size (a little shorter) and the car has plenty of room

[@diabloroadster6461]

BTW, just a few weeks ago a 6'6" probably 330 lbs college OL rode with me and also had no issues

[@davenc8527]

I've put more than 21,000 miles on my Superformance GT40 MKI over the last six years. My goal is to own the highest mileage GT40 on Earth. Cars are meant to drive.

[@III1IlIIlIllIl]

Make a video of it.

[@louisliu5638]

Drive it. We have a Coast Guard guy tow an XKE Jag. in British racing green into our yard: Something like 800 original miles over ten years. But he parked it in a garage in LA with a SAND floor (common in the sixties). Even in dry old LA the winter moisture comes up, seals dry up, and the OZONE in those days turns the rubber to hard almost obsidian character. We were having to completely dismantled the car and rebuild everything; not worth in in 1973. (probably worth it NOW, but)......!!

[@chasemer6]

50,000 lost just as the market has settled in recent months. Still a heck of an investment for the owner who probably got it out the door just over $100,000 in 2005/6.

[@Jared_DaVinci]

Guys the transmission in mines just went out at 63,000 miles. Idk why, but it won't even go in reverse so I'm putting it in the shop. I want to buy this one of possible

[@WarriorsPhoto]

Beautiful car. I would buy one of these as well. $300,000 I don't know.

[@Rockinruffhouser]

That owner is freaking awesome. Buys the car not only thinking of it as an investment but as a means of fun and enjoyment.

[@viperonfire2006]

My dream car that I’ve wanted since it came out during my highschool years..

[@richardfried9470]

He still did not lose any money. I purchased a 2006 Ford GT with the 4 options new for $168,000 inc NY sales tax back in 2006. P.S.I insured it with Hagerty for $3000 a year stated amount insurance . Allstate charged me $6000 until I went to Hagerty back then. Great to see he put that mileage on it.

[@DonLee1980]

The thing is... when someone buys a low mileage example, they don't dare to drive it, fearing of losing a lot of value. When you buy one that has mileage, not only do you know it hasn't been just sitting forever, you can drive the guts out of it and you won't be losing much more value out of it. Low mileage trophy's are just investments, and nothing more. 31k miles is actually very little for a car that that is actually been driven. A lot of extreme low mileage examples are probably in worst condition for have not properly lubricated, old tires, etc.

[@KN-jw7ts]

More owners should be like him.

[@icemanlol119]

I should drive my sports car this summer I’m getting old and the car just sits there like a garage queen

[@josepy4]

Love the personal plate!

[@francisdrelling4060]

I so agree with this owner. Buy it to drive it. You only live once.

[@beltfed4624]

Who buys a performance car and keeps it setting? I'd drive it as much as I could too, that's the point of a vehicle, if you want something to set around and gather dust, then buy antiques. He bought a car he loved and he drives it, that's how it's supposed to be. Good on him. 👍🏻

[@bmunro8619]

I like the philosophy of this owner. Buys his dream car to drive and enjoy.

[@goncalo33]

0:14 Thank you!

[@jermbob4715]

This guys a champ! Beautiful car and even a funny tag … Enzo who?

[@yeniyenilek]

I love the plate “inzowho” guessing it’s a homage to the Enzo Ferrari vs ford era

[@SMLPhotography1]

To the owner - Bill, you are my hero! Drive it and enjoy it!!

[@van1ty821]

My man !!! Too many of these kinds of cars aren't driven

[@n300zx931]

These were very cool heritage cars. My Favorite car period is the new Ford GT. Love the look.

[@scottimusgarrett15]

I honestly don't understand the "low mileage" caveat associated with collector cars. It's more detrimental to a car to park it than it is to drive it and keep it serviced and detailed. Remember, they're meant to be driven! Thanks, guys! ✌️❤️🙂🇨🇦

[@CPAJayhawk]

It’s not hard to understand, it’s the same concept of keeping anything collectible in the box, unused, etc…

[@scottimusgarrett15]

But a toy or baseball card doesn't get ruined by not using it; a car does. The seals degrade, internal corrosion starts in brake lines and fuel lines, fuel turns to varnish, electronics degrade and corrode...and on and on.

[@hawaiianpunch6534]

I'd be driving it like Ford would want me to. I would order an extra crate engine a trans though.

[@PhillyDee215]

Damn that's crazy......I hope the cars I have maintain their value

[@MH-so9oz]

An '06 Ford GT just sold on BaT a few weeks ago. Same color as this one. Fully optioned car. 27k miles. 361k! Almost 200k over the 165k msrp. It had minor paint chips and iirc, the front piece had been repainted. Otherwise beautiful car.

[@danmyers9372]

That person way overpaid for that car imo. A car like that is worth around $300K.

[@MH-so9oz]

@@danmyers9372 Time will tell...

[@fjlawrence9672]

Huge respect for the owner ! Cars are meant to be driven not to be garage queens 👌

[@VINGIGGS]

I just bought one and in the first 3 days of owning it I've put more miles on it than the previous owner did in 2 years of ownership. I've owned and currently own a lot of car, and this is by far the best driving car ever! It's unbelievable and a complete shame that owners don't drive them. People who can afford these have plenty of money, who cares about value you make plenty of money elsewhere. Drive the hell out of it

[@Docbrut]

Minus an extra 10K for that ridiculous vanity plate 😢

[@davem5333]

Sometimes fun is expensive......but worth it. Sometimes fun is priceless......and is a bargain.

[@ryanreedgibson]

I was hoping I would fit. At 6'3 I don't think so.

[@SURENITY]

What an incredible owner! This one will be the last one standing if it is driven and maintained like this!

[@MyWolffy]

MILEAGE IS THE DUMBEST REASON TO DEVALUE SOMETHING!!!! I hate some one to try and take away value of something just due to someone actually enjoying it and caring for it. Should not take a loss because it’s driven.

[@davidr6865]

Well parts wear out and road rash/damage happens. That’s why it lowers the value. Kind of common sense

[@dirtyminerapparel]

Fun fact. These were 119k MSRP when they first hit the showroom floor.

[@PURP_xix]

what a legend actually driving it

[@Atombender]

"A little more horsepower never hurt anybody." Except the resale value.

[@jorgejorge57]

Finally a SANE supercar owner. Thank God.

[@colinunderdown1758]

As he said, LTD, living the dream and he needs to keep on doing so.

[@dammyo6010]

My dream car. #1 with a bullet! Timeless.

[@thesaltysergeant4103]

I love owners that Drive their cars and not show them. I have a 2018 Mustang GT that is all tricket out and it is my daily driver. And I love it.

[@SigEpVet]

I drive my F-Type and love it too. I bought it to drive it and not ever going to sell it!

[@Subpac_ww2]

Love these cars especially the red with white stripes.

[@Blazerghost]

Thank god someone is driving the car.

[@AndyRRR0791]

Congrats to Bill. He should make it his life's work to get that odometer around to 200k.

[@davidsiebert5860]

And then be buried in the car.

[@geemy9675]

doug demuro did put 40k on his Ford GT so it's not unheard of although high mileage for a Ford GT

[@rocketjohny1954]

drive it until the wheels fall off ! have fun , enjoy it !