What Do You Say To A Ford Bronco Markup of $1.75 Million? Really!
In the world of vehicles, there are markups, and then there are markups. Most markups are in the thousands or multiple thousands. They are usually on hard-to-get models. But, when you are purchasing the very first Ford Bronco off the line, the one with the equivalent VIN 001, or the very first Mustang Mach I, also the VIN 001, then you have to expect a bigger-than-normal markup.
Here’s A Huge Piece Of Information
Well, here's an interestingly huge markup for you, $1,014,200 – based on published pricing for Ford's Bronco – yes, you read it right, more than $1 million in the markup for a 2021 Bronco SUV. And on Mach I, the markup, how about a markup of $546,095.
Those markups certainly sound more than a bit extravagant, don't they? Indeed, it is the type of pricing you might associate with the latest and greatest Bugatti or Ferrari. Honestly, it isn't. It is the type of markup you would associate with major classic car auctions.
But why would two brand spanking new vehicles go for this type of money? They aren't classics, by any means. Their claims to fame are that they are the first ones off the assembly line of each model. Again, that shouldn't add any more than a few bucks to the purchase prices.
So, what gives?
So What Is The Answer
Both vehicles rolled onto the auction line at the latest Barrett-Jackson Scottsdale (Arizona) auction. Ford donated them. They sold to support two deserving charities. The Mustang Mach I benefited the Juvenile Diabetes Foundation, while the Bronco assisted the National Forest Foundation and Outward Bound.
It is interesting to note that the buyer – not listed to this point – of the Bronco had the privilege of paying the $1 million price for a sixth-generation Bronco – though the latest generation is admittedly 25 years later than the fifth. And, there's been no sign of who bid roughly $550,000 for the Mach I. But, bid they did, and the two causes are the beneficiaries. Indeed, Ford has supported both causes to the tune of millions over the last 35 years.
As was noted, vehicles with the VIN 001 are very hot sellers right now. Indeed, General Motors sold the first Electric Hummer with the equivalent of VIN001 of $2.5 million. In total, the sale generated about $5.8 million for charity.
Craig Jackson, chairman, and CEO of the auction, was enthusiastic about its performance and how much it helped various charities. He told AZcentral, a news website covering Arizona:
Raised Millions For Charity
"We helped raise millions of dollars through the sale of nine charity vehicles, which included a record number of VIN 001 and first production models ever offered at auction. We're grateful to our partners at Cadillac, Chevrolet, Dodge, Ford, and GMC chose to leverage the Barrett-Jackson stage and allow collectors to own a piece of history and also benefit critical organizations. I continue to be inspired by their commitment to supporting those who need our help the most," said Craig Jackson, chairman, and CEO of Barrett-Jackson.
Ford had a special place at the auction as an exceptional vehicle from the heyday of big-engined high-performance vehicle, Carroll Shelby's 1966 Shelby Cobra Super Snake, sold for $5.8 million. Other Ford vehicles that did well in the auction included: a 2018 Ford GT Heritage model that earned $1.2 million and a 2017 Ford GT that earned $990,000. Meanwhile, a 1965 Shelby GT350 received $962,500. And, a 1967 Ferrari 275 GTB/4 moved for $2.475 million. Of the top five earning vehicles, Ford manufactured four of them, and they earned a total of $8.9 million. The winner of the Barrett-Jackson Prize was a 19709 Dodge Challenger – "Havoc."
The Ford Bronco – VIN 001 – that garnered the $1.75 million-is a fully-loaded First Edition trim model. The First Edition is a Badlands/Wildtrak trim. The auction winner will have a Bronco done in Lighting Blue (exterior) with a Navy Pier leather-trimmed interior. The powerplant is a 2.7-liter EcoBoost V-6. Bronco VIN 001 uses Ford's 10-speed automatic tranny.
Auction Sets Many Records
The Barrett-Jackson auction set a total of 95 records. The auction moved 1,054 classic vehicles for $95 million. An auction of 1,000 pieces of automobilia brought in $4.4 million. When auction officials tallied the sales, they found that the auction earned $105 million, including the vehicles donated for charity. Among the charity vehicles was a 2003 Chevy Monte Carlo Nascar racer.
Marc Stern has been an automotive writer since 1971 when an otherwise normal news editor said, "You're our new car editor," and dumped about 27 pounds of auto stuff on my desk. I was in heaven as I have been a gearhead from my early days. As a teen, I spent the usual number of misspent hours hanging out at gas stations Shell and Texaco (a big thing in my youth) and working on cars. From there on, it was a straight line to my first column for the paper, "You Auto Know," an enterprise that I handled faithfully for 32 years. Not too many people know that I also handled computer documentation for a good part of my living while writing YAN. My best writing, though, was always in cars. My work has appeared in venues including Popular Mechanics, Mechanix Illustrated, AutoWeek, SuperStock, Trailer Life, Old Cars Weekly, Special Interest Autos, and others. You can follow me on: Twitter or Facebook.