{"id":45094,"date":"2018-07-25T07:29:23","date_gmt":"2018-07-25T07:29:23","guid":{"rendered":"http:\/\/dominiclevent.com\/blog\/?p=45094"},"modified":"2019-04-17T17:12:58","modified_gmt":"2019-04-17T17:12:58","slug":"court-decision-behind-the-1-8-million-ford-gt-auction-revealed-as-litigation-continues","status":"publish","type":"post","link":"https:\/\/dominiclevent.com\/blog\/court-decision-behind-the-1-8-million-ford-gt-auction-revealed-as-litigation-continues\/","title":{"rendered":"Court decision behind the $1.8 million Ford GT auction revealed as litigation continues"},"content":{"rendered":"


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\n Buyers of the $450,000 supercar are required to sign a contract that says they won\u2019t sell their vehicle during the first two years of ownership.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

The Ford GT is a tough sell. That is, it\u2019s tough to resell.<\/p>\n

Buyers of the $450,000 supercar, who are handpicked by the automaker based on factors that include prior Ford ownership and social media standing, are required to sign a contract that says they won\u2019t try to flip their vehicle during the first two years of ownership.<\/p>\n

Ford says it\u2019s a way to make sure the limited edition cars \u2013 just 1,000 are set to be built through 2020 \u2013 go to true fans rather than speculators only interested in turning a profit. But that hasn\u2019t stopped a couple of approved owners from trying to unload them early anyway.<\/p>\n

Ford sued entertainer John Cena last fall when he sold his GT to a California car dealer just a few weeks after it was delivered to him. Cena said at the time that financial issues were behind the move, and it wasn\u2019t until this June that Ford settled the suit with him out of court<\/a>, and a separate one with the dealership that bought the car from him. The terms of the agreements were not disclosed, but Ford said the money recovered would be donated to charity.<\/p>\n

\u201cI love the Ford GT and apologize to Ford, and encourage others who own the car to respect the contract,\u201d Cena said in a statement published by\u00a0Jalopnik<\/a><\/i>.<\/p>\n

Cena\u2019s etreaty came too late to convince another GT owner, however, whose car crossed the block at the Mecum Auctions event in Indianapolis this May under curious circumstances, and was sold there for $1,815,000, including auction fees<\/a>.<\/p>\n

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Questions were raised when the silver coupe with just 7 miles on its odometer was added to the docket days before the event, and were only cryptically answered by auction house founder Dana Mecum when he took the stage to introduce it.\u00a0<\/p>\n

\u201cWe had a little issue in the courthouse about this and the judge did rule in Mecum\u2019s favor that we could sell this car,\u201d Mecum said. \u201cIt\u2019s America, you can buy and sell what you want.\u201d<\/p>\n