Bullitt Mustang sold

[BDA]

The most famous movie car was sold at a Mecum auction for $3.4M but with the buyer's premium (whatever that is) the final price was $3.74M. Watch it here: https://www.youtube.com/watch?v=Y1kzTyqcN9U&feature=youtu.be.

Now, I think the chase scene in Bullitt is THE chase scene in movie history (in spite of the Hollywood addition of double-clutch upshfits!?  ) and I think the car is really cool but it's rusty and dented (more than in the movie) and just really wore out looking. I would want to restore it to the condition at the beginning of the movie but that would surely make it only as valuable as a modified '68 Mustang fastback with a 390 in it. What does someone do with a car like that? It not only brings up the issue of whether to restore something (and that not only applies to cars but to just about every antique), but it also reminds me of the recent retro phase in cars where VW brought out a new Bug, Chrysler/MB brought out the PT Cruiser, etc.). What do you do with a retro design? Almost anything you do will make it less retro. As I said earlier, doing anything to it ruins its value. It is no longer THE Bullitt Mustang. It's the Bullitt Mustang with whatever you do to it. So what will/should the owner do with his new acquisition? Should he just set it up in an air conditioned garage and not touch it? Whatever it is, I'm sure the guy who bought it has figured that out already!

[EuropaTC]

I'd take a wild guess and say if the guy has $4m to spare then he isn't going to need the car for the weekly trip for groceries, so I expect it'll stay as it is.  With that sort of cash behind you I think I'd be tempted to get another mustang and make a  mint replica of the car at the start of the movie, then put them side by side on show !

I'm sure I read an article about the car a while ago about how they did the stunts, etc, and the car looked "in need of enthusiast" then. If it hadn't been driven by Steve McQueen in that iconic movie then it would have been crushed long ago. Funny old world, isn't it ?
 
Brian

[Certified Lotus]

Wealthy people buy cars like that as an investment, it’s part of their portfolio. They just happen to be car guys. I know several people in that category that have done very well regarding the increased value of their acquisitions in a collection over the last 30 years. Far better than the stock market.

[BDA]

I agree with you both. I read a little about the car before and after the sale. The PO used it as a daily driver for several years and then parked it so it's likely that it gained more "patina" after its stint as a movie car. Also, the motor was recently rebuilt. Apparently that didn't hurt its value.

Certainly it is a piece of historical rolling sculpture and is unlikely to be driven any substantial distances. One would have to be VERY wealthy to be able to afford such a sculpture - and probably even wealthier to purchase it from its current owner. I remember back in the '70s (and probably still today) people bought Ferraris, drove it into the garage, put it on stands and a couple of years later, put it up for sale and made several thousand dollars. Not what I would do but I get it and that's probably predicated on the assumption that at some point in the ownership chain, the car will be driven (and maybe that's not a good assumption). But the Bullitt Mustang will likely never be driven so it's value is almost entirely historical (makes me wonder why the PO went to the trouble of rebuilding the motor!). It certainly isn't pretty.

I don't know. I get it but at the same time it doesn't make any sense to me. I expect that might be largely because I don't have that kind of money lying around! And then I might have too much time on my hands to spend this much time thinking about it!