[DeTomaso] De Tomaso Market Vlaues

[Mike Drew]

Chuck,

Quick correction on Mangusta auction values. The first green car that sold at auction last year went for $302k I believe, while the second one went earlier this year for $341k. 

That car had been purchased from California just a few months earlier for less than $200k, which shows the impact that region has on values. If I had a Mangusta for sale today first thing I would do is put it on a boat crossing the Atlantic!

Mike

Sent from my iPhone

On Jul 16, 2014, at 22:41, The DeTomaso Registry Guy <detomasoregistry at gmail.com> wrote:

> 
> Values for De Tomaso cars are rising.
> 
> While Mike Murray probably sold his car at a fair price, there may be owners out there that 
> don't know what the current values are, and may let there car go, thinking that they 
> got a great price, when in reality they sold 'cheap' by current market standards.
> 
> I am not aware of what the last couple of Vallelungas sold for.
> Maybe Mike Drew can help, I think he has assisted in a recent (last 12 months) sale or two.
> The market is sooo thin that it is hard to determine their value based upon "comparables".
> 
> Mangustas have done REALLY well at European auctions this past couple of years.
> (Mangustas have typically sold for much higher prices in Europe than in the USA.)
> It started with one car (Apple Green) which sold at auction for something near $300,000 U$D.
> That price was widely watched.  That same car then resold (private sales) a couple of times
> in the following year at prices below that figure, but likely above $200,000 U$D.
> 
> This specific car sort of started the new Mangusta trend.
> 
> Since then... There have been 3-4 Mangustas that have sold for more than $200,000 U$D.
> Most recently another Apple Green at RM in Monaco I believe $245,000 U$D.
> 
> So the price of one car is one thing, the price for several becomes a "trend".
> 
> Mangustas that are highly desirable are those (represented) with low mileage, and restored condition,
> or original condition.  There are just not that many Mangustas, so with "fewer" sellers,
> and more buyers naturally the values rise.  It is also a thin market.
> 
> Pantera values are still "all over the map" because they have been modified, and as such are subject to personal taste and make it
> hard to compare.  What was "hot" in the 1980's is so out of vogue today.
> Collectors and speculators who both are not buying a Pantera to drive, but to "invest"
> have "noticed" the Pantera, and are now pushing up the market for clean, near-stock, low mileage cars.  There seems to be no
> emphasis on a particular Pantera model (such as Push-Buttons).
> 
> Recently the auctions for Panteras has been heating up, and thus even "less-than-accurately" described cars but with low listed
> mileage, are seeing strong demand.
> 
> As always, there are those sellers or dealers that offer a particular car for sale well above current market value.  These cars are
> on the market for a long time.  No surprise.
> But at some point market value catches up to them (unless the dealer continues to keep their asking price above market price) and
> they finally sell.
> 
> One of the benefits of the registry, is that it allows potential buyers to see a variety of
> "comparables" (as to features, not value), so they better understand what is the right car for them, and thus assists in the
> eventual sale/purchase.  An educated buyer is a better buyer.
> 
> I also notice an interesting trend...
> Cars that have some history in the registry tend to sell better (higher price, quicker sale) than
> cars with no documented history.  This comes as no surprise to me, naturally.
> 
> While I have been strongly resisting including sales price on the Detail & Photo page, I do get asked all the time, "What is it
> worth?".  Like we all learned in Econ 101, the value is what a willing buyer and willing seller agree to, (at that specific moment
> in time.)
> 
> Chuck
> 
> 
> 
> -----Original Message-----
> From: DeTomaso [mailto:detomaso-bounces at poca.com] On Behalf Of Mike Murray
> Sent: Wednesday, July 16, 2014 11:00 AM
> To: Detomaso at poca.com
> Subject: Re: [DeTomaso] [Detamaso] When is the Price Right
> 
> Well for me it was today. I had a client of mine ask his son about Pantera's and he told him that I had one and to call me. I talked
> to him about the cars and he said he was looking at getting one to add to his collection. I told him to come by and look at mine so
> that if he was going to buy one he could see one up close and with a lot of upgrades. He and his wife came by last week and he was
> very impressed with mine. One thing led to another an he said the magic words Is yours for sale. Well I hadn't thought about in a
> while but knowing that I would sell it some day I said sure and threw out a  number. He didn't blink and said let me think about it
> over night. Next day he countered with a very generous offer and I said sure. The car will remain in Charleston. I can move on to
> other projects. I still have the 442 convertible and am in the process of building a 16' wooden race boat patterned after the Donzi
> classic 16. It has been a pleasure to be a part of the pantera community. I want to thank all that have helped me over the past 10
> years. The collective knowledge and wisdom is extraordinary. There's nothing we can't figure out. I do have parts and pieces that
> did not go with the car. Also some that came off the car. I will try and post the items from time time for the group rather than
> E-bay them. If interested you can contact me. Again thank you all. Long live the pantera.  Mike Murray
> 
> 
> 
> Mike Murray
> American Dock & Marine Construction, Inc.
> (843) 795-2999
> www.americandock.net
> 
> 
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