[DeTomaso] Panteras for sale

[Christopher Kimball]

True--the stock market has been a far better long-term investment than cars, 
gold, real-estate and a host of others.

If you bought a car 40 years ago for $5,000 and sold it today for $200,000 
you made less than 10% annual rate of return--and that's before taxes.  
You'd owe almost $30K in taxes, bringing the real rate of return to just 
over 9%.

Of course, you can't enjoy a wonderful drive to your local car show in a 
diversified mutual fund portfolio, either, and that's the point; cars have 
an inherent worth beyond money.  I stopped at the shop to see how my '72 is 
progressing and I was wowed all over again with how beautiful that thing is!

It should be ready to drive next week.

Chris


>From: gow2 at rc-tech.net
>To: detomaso at realbig.com
>Subject: Re: [DeTomaso] Panteras for sale
>Date: Wed, 16 May 2007 13:27:23 -0000 (GMT)
>
>I don't see cars ever doing better then the stock market as a group. As a
>long term stock market investment you ride the highs with the lows but its
>long term track record is actually good. Anything short term doesn't mean
>anything.
>
>As for cars, cars kept new and perfect don't bring enough value to do that
>over the stock market. For instance at one auction last year an early
>vette with 100 miles with the plastic still over the seats went in the
>$20's. If he doubled his money would that even have been enough to store
>the car for 35+ years? I did not even keep up with the current prices of
>vettes.
>
>The guys that make money with cars buy the right cars at the right time
>and sell them at the right time. Any of us could have bought a Hemi Cuda
>35 years ago if we knew that was the one.
>
>At the same time people say that publicity ruined the muscle car market
>that you cannot buy them any more. Well I don't think that is true either.
>Sure you can't afford the original hemi Cuda but there were a lot of other
>cars. With everyone bidding on the handful of Cudas sure the price will go
>through the roof.
>
>I went to the drag races this past weekend. It was interesting to see
>about 80% of the cars were old 60-70’s muscle cars. They were not
>specifically high dollar rare versions and many cars you had forgotten
>about. All of them were quite neat with every bit the pizzaz the high
>dollar muscle cars have.
>
>This meant several things to me. First, while the Cuda and 429 Cobra Jet
>mustang may be too valuable to run, race or to even own, there are many
>cars still out there at quite reasonable prices if that is your thing.
>
>Second, the lack of ricers and modern cars really showed how the those
>cars were the “Originals” and still the pashion today. The 1969 Mustang,
>the 1957 Chevy, the 32 Ford, the Model “T” (still many thousands out
>there) as well as many pre 1980 cars are what I would call the
>“Originals”. The 2007 Mustang is not an “Original” and little if nothing
>today will ever be considered with the same regard.
>
>Why are the “originals” so important? They defined us coming into modern
>times. Not that long ago cars were buggies with a single cylinder engine
>and a tiller:
>
>http://www.rc-tech.net/cars/olds.jpg
>
>everyone yelled “Get A HORSE!”. That was not that long ago. Now cars are
>not that much different then a disposable cell phone. Hey this one looks
>like one of the original Mustangs. Hey this one looks like an original
>Dodge charger......But they will never be the originals and are as
>disposable as anything from Best Buy!
>
>Valuable? Make money? Yes for a gambling man; buy a car under valued here,
>ride the wave, sell it before the bottom falls out. Good investment? Not
>for me. I pick the car as the bottom is falling out. Restoration,
>maintenance, near impossible to make money unless the focus is on turning
>them around in short order with a keen idea of what the market is doing.
>It takes too much money over time to keep a car maintained.
>
>As far as the “Originals” I even noticed many off the wall cars from the
>50’s and 60’s which were not particularly desirable or classic go for LOTS
>of money when well restored. Why? It’s style, its chrome and everything
>about it is not and will never again be reproduced!
>
>Gary
>1905
>1280
>
>
>
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