Photo: Mecum
In May last year, during the Spring Classic Auction organized by Mecum in Indianapolis, Indiana, a Ford GT with only 7 miles on the odometer found a new owner for $1.7 million. Usually that’s a good thing, but the Ford GT is not your average car and owning one comes with a lot of baggage.
To be able to get possession of a GT, the average customer has to send an application and get approval for the purchase from Ford. Once the money for one is paid, Ford makes the new owners sign a contract that prevents them from selling the GT for two years after purchase.
The GT auctioned by Mecum last year was a 2017 model year, meaning there was no chance in hell the two years were up. That caused Ford to go bananas – after it did the same in the case of John Cena – and take Mecum to court in Marion County, Indiana.
On Thursday, the Blue Oval announced it has reached a settlement with the auction house over the sale of the GT at one of its events. The full details of the settlements were not disclosed, but Mecum will pay financially for its transgression, with all the undisclosed amount to “be donated to the Ford Motor Company Fund.”
Additionally, Mecum will from now one be forbidden from selling any “Ford GT owned by its original purchaser that is still subject to the two-year sales moratorium.” If a customer is crazy enough to drive a GT to Mecum's back yard, the auction house will be forced to “consult with Ford regarding any Ford GT consigned with Mecum by any downstream purchaser […] and will not permit the auction sale of that GT during that time without Ford’s consent.”
Additionally, Ford warns GT owners that they need to “abide by the terms of their agreements in order to avoid controversy."
The GT auctioned by Mecum last year was a 2017 model year, meaning there was no chance in hell the two years were up. That caused Ford to go bananas – after it did the same in the case of John Cena – and take Mecum to court in Marion County, Indiana.
On Thursday, the Blue Oval announced it has reached a settlement with the auction house over the sale of the GT at one of its events. The full details of the settlements were not disclosed, but Mecum will pay financially for its transgression, with all the undisclosed amount to “be donated to the Ford Motor Company Fund.”
Additionally, Mecum will from now one be forbidden from selling any “Ford GT owned by its original purchaser that is still subject to the two-year sales moratorium.” If a customer is crazy enough to drive a GT to Mecum's back yard, the auction house will be forced to “consult with Ford regarding any Ford GT consigned with Mecum by any downstream purchaser […] and will not permit the auction sale of that GT during that time without Ford’s consent.”
Additionally, Ford warns GT owners that they need to “abide by the terms of their agreements in order to avoid controversy."
Google News