As a true collectible, it simply fails the test.
On September 25, 2000, at 10 a.m. Eastern time, Neiman Marcus began taking calls from customers on a special 800 number. Two hours later, every one of the 200 Neiman Marcus-edition Thunderbirds available was sold. It was the fastest time elapsed for any of the cars offered through the Neiman Marcus Christmas catalog, and a pretty good sales result for any car. At a retail price of $41,995, it was substantially less than the 188-foot-long submarine in the same catalog (yours for just $20,000,000), more practical than the $225,000 custom ice house (25 x 30 feet, guaranteed to last 24 hours in any climate) but quite a bit more than the His and Hers Kites ($2,000 a pair, includes one-hour flying lesson).
Neiman Marcus, the Texas-based high-end department store, has a reputation for over-the-top gifts in its annual Christmas catalog. Jets, a Chinese junk, helicopters and more have been offered in past catalogs. Cars? Neiman Marcus has had them before and since, including a James Bond-edition 1995 BMW Z3, a 1997 Sony GMC Suburban, the 1998 Audi TT, a 2001 Lexus SC430, and a 2004 Cadillac XLR. It has even sold a Thunderbird before-or actually two. Don't you remember the 1971 His and Hers editions with an electric shaver for him and a makeup mirror for the lady? Vinyl roofs and 8-track players graced the Thunderbirds for both sexes back then.
The 2002 Neiman Marcus edition Thuderbirds were available in one color scheme only, Evening Black with a Satin Silver metallic hardtop. The Neiman Marcus models were serial numbered between 100026 and 100225, and carried body-style code #64. Interiors were black leather with silver accents. Both Thunderbird and Neiman Marcus logos abound-floor mats and the instrument panel have Neiman Marcus labels. The wheels were a chromed version of a style offered only in a silver color on other 2002 Thunderbirds, though the same wheels were offered up again on the 2003 Thunderbird James Bond edition.
SCM Analysis
Detailing
This 2002 Ford Thunderbird Neiman Marcus Edition was sold for $40,500, including buyer’s premium, at the Barrett-Jackson Petersen Museum auction, held June 21-22, 2003.
The all-new 2002 Ford Thunderbird was quite possibly the worst-kept secret in automotive history. It was first “officially” seen by the public in Detroit at the North American International Auto Show in January 1999. By that time it had already appeared in magazines and on Web sites, a publicist’s dream of free exposure. Yet retail delivery wasn’t planned until 2001, giving prospective purchasers plenty of cooling-off time to find another trendy marque or just give up altogether.
The Neiman Marcus edition was introduced by Ford designer J Mays in August 2000 at the 50th anniversary Pebble Beach Concours d’Elegance. Besides its catalog-only scarcity, the special edition offered prospective buyers a chance to be the first one on the block to own any new ‘Bird. Unfortunately, an expected delivery date of June 2001 failed to materialize when Ford ran into its inevitable manufacturing delays. Then, in August, its Wixom, Mich., plant went on an unplanned hiatus-something about faulty cooling fans.
When the cars actually reached customers in fall of 2001, three years had elapsed since the debut at the show. A cheap and gaudy interior and a ride far less composed than that of the Lincoln LS that the Thunderbird was based on were just two of the rampant criticisms. In the Thunderbird’s defense, its 3.9-liter V8 was silky smooth and with the top down, the car was a perfect boulevard cruiser.
The days of the new Ford Thunderbird being a status symbol with a long waiting list and a sticker over list price are long gone, never to return. In fact, much to Ford’s chagrin, the car is now widely available below MSRP. But even with dealer-offered discounts, sales have plummeted and Ford announced in April that it would be ending Thunderbird production after the 2005 or 2006 model year. Not exactly a good omen.
And what about the breathless proclamations by speculators that the new ‘Birds, and especially the limited-edition Neiman Marcus versions, were sure to be “instant collectibles”? You have read similar advice in SCM before: Buying a new serial-production car and hoping to keep it for awhile, and then sell it for a profit, never-repeat, never-works. Cars like this are flavor-of-the-month specials and only hold the fickle public’s interest when they are hard to get (which is why Ferrari Modena Spyders continue to sell for above sticker-Ferrari has purposefully kept a lid on production). Once anyone can stroll into a dealership and buy a T-Bird at sticker (or less), why should he pay you a profit for what is now a used car?
Car companies have a long tradition of producing special editions that they call “instant collectibles,” reaching back to the Dodge La Femme of the ’50s through the ludicrous badge-special “Niki Lauda” Alfa Spiders of 1978, to today’s current special versions of cars like the Audi TT and the Chrysler PT Cruiser.
If nothing else, these limited-edition cars usually spark enough interest to keep dealers from having to put large sums of cash on the hood to move them out. But after everyone who wants the car gets one, the laws of economics-and depreciation-take hold.
As a daily driver, a new Thunderbird is a reasonable choice. But as a true collectible, with a chance at some long-term appreciation, it simply fails the test.-Dave Kinney and Jeff Sabatini