The Carrera GT Market Was Tested, and Failed

When we wrote about the Carrera GT market last week, we stated that the 2005 example offered at Broad Arrow’s Palm Beach sale this weekend would surprise us if it crossed the $1.5m mark let alone hit the low estimate of $1.6m.

The auction started with an ask of $2,000,000 quickly followed by a drop to $1,000,000 and then finally a bid at $500,000. From there it jumped to $250k and then settled at $50k bid increments after a couple at $100k.

At $1,350,000 bidding stalled with blank stares from the auctioneer and phone representative with the bidder assistant jumping in to add some color reminding us of the “fantastic” colors and often missing full set of luggage. A few more bids, perhaps of chandelier in nature, came in pushing the price up to…. $1.5m.

No sale at $1,500,000. 3,000 miles, full set of luggage, every accessory, and ho-hum color. After so many no sales I believe it’s time to put a pin in the Carrera GT market. Should you want to pursue this car, Broad Arrow is offering the car for just over the low estimate of $1,635,000.

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