Richard Rawlings is a well-known name in the automotive industry, thanks to his popular TV show Fast N’ Loud. He is also the founder of Gas Monkey Garage, a custom car shop that has produced some of the most impressive and sought-after cars in the industry.
After a great day visiting Brad Keselowski at a NASCAR track on a race day, Richard Rawlings feels the loss of $70K as his Ford GT doesn’t sell as much as he expected to at an auction.
Rawlings had owned the 2005 Ford GT for over a decade and had put just 2,800 miles on the odometer. He decided to sell the car at the Mecum Auctions event in Indianapolis in May 2021, hoping to make a tidy profit on the sale. The car had been customized with Gas Monkey Garage touches, including a custom paint job and new wheels.
Photo by DMAX UK
However, things did not go as planned. Despite being one of the most highly anticipated lots at the auction, Rawlings' Ford GT failed to meet its reserve price, which was set at $300,000. The highest bid for the car was $225,000, meaning that Rawlings lost over $70,000 on the sale.
Rawlings was understandably disappointed with the outcome, but he remained optimistic about the future. In a statement to the media, he said that he was proud of the car and that he was happy to have been a part of its history. He also hinted that he might try to sell the car again in the future, perhaps at a different auction or through a private sale.
Photo by DMAX UK
The loss on the Ford GT sale is a reminder that the classic car market can be unpredictable and volatile. Despite its popularity and high demand, even the most desirable cars can fail to meet their reserve prices at auction, leaving sellers in a tough spot. Rawlings is not the first person to experience this, and he certainly won't be the last.
However, the sale of Rawlings' Ford GT is also a testament to the passion and dedication that he and other car enthusiasts have for their vehicles. To them, cars are more than just machines - they are works of art, expressions of creativity, and symbols of freedom and adventure. Even if they don't always get the price they want, these enthusiasts will continue to pour their hearts and souls into their cars, striving to create something truly special.
Video DMAX UK
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