[DeTomaso] Selling my Pantera

Fri May 29 16:46:39 EDT 2015

Excellent reply, Mike. Excellent!!!!  I want to underline every comment!    ---BILL Lewis

Date: Fri, 29 May 2015 15:12:31 -0400
To: jskeane6 at gmail.com; detomaso at poca.com
Subject: Re: [DeTomaso] Selling my Pantera
From: detomaso at poca.com

In a message dated 5/28/15 20 31 47, jskeane6 at gmail.com writes:

> 
> Due to an impending divorce, I'm thinking about selling my 1974 L-model.
> 
>>>I wish you wouldn't.

First of all, I'm profoundly sorry to hear of the difficulties in your 
personal life.   It can't be pleasant to have to consider such things.   
Although I've never experienced it myself, I've witnessed it far too many times.

One bit of advice I can offer is that I have never, EVER seen somebody in 
your position who sold his Pantera because he thought he needed to, and then 
later didn't live to regret that decision.   To a man, every one I know who 
sold his Pantera because he thought he needed the money for something else 
(whatever it was), upon reflection decided that it was a big mistake, that 
the money could have come from elsewhere, or whatever it was needed for wasn't 
nearly as important as having the Pantera.   The Pantera is a rapidly 
appreciating asset; financially you would be much better off determining its 
current value and then settling with cash based on that.

> >It's a pretty typical Pantera, in that it's not set up as a race car
> with a 427 in it or anything, but I've done a number of upgrades to make
> it reliable. I live in Arizona, so I've upgraded the fans and radiator
> (Ron Hall Racing aluminum radiator) which keeps the engine cool even
> when idling in the Arizona summer heat. I've also upgraded the
> alternator to a high-amp model, replaced the reciprocal York air
> conditioning compressor with a modern (and much more lightweight)
> centrifugal design, and put Aussie heads on the engine for better
> airflow. The interior was replaces about 10 years ago, and looks good
> although not factory fresh.
> 
> I'm thinking about asking $39,000 for it. Is that realistic in today's
> market?
> 
>>>That is totally UN-realistic.   A nice, decent, solid Pantera is at 
least a $65-70K proposition in today's overheated market.   While that might not 
be true tomorrow, it's certainly true today.   

FWIW, in the last few months two PCNC members elected to sell their cars 
blindly, through dealers.   The first one sold his to a dealer for $42.5K 
(*less* than he paid for it a few years ago, and he subsequently spent money on 
it improving it).   The dealer flipped it in less than two weeks for $72.5K.

DUH!!!

Now, this week, another PCNC member decided to sell his car without 
contacting anybody in the club first.   I don't know what he sold it for, but it 
has been sold to a well-known Ferrari broker, who is actually looking at it 
right now.   A potential local buyer is planning on meeting him at the car, 
and there is a good chance that the car will be sold on the spot.   If the 
original seller had just contacted the club, the buyer would have been sent 
over there and a deal could have been done where the seller got more money for 
his car, and the buyer paid less.

Double-DUH!

If you are committed to selling your car, you're doing it the right way, 
reaching out to the community of current and would-be owners.   The world is 
small enough now that we don't need to rely on brokers and agents, who 
collect large commissions for the work that they do.   I don't begrudge them their 
profit when they are doing a bunch of work to earn it, but in your case, 
it's unnecessary.

I do hope you'll reconsider selling it however.   If you just don't like 
the car anymore and want to be rid of it, that's one thing--in fact that is 
the ONLY reason you should be thinking of selling it.   Otherwise, do whatever 
it takes to keep it, even if it means short-term financial hardship.   In 
the long run you will definitely be happier, not to mention the fact that the 
car will be worth substantially more if things continue as they have been 
recently.

And if you really, *really* want to sell the car, send me photos and 
information, as I have a number of people looking for good cars at the moment.   
While most are interested in Pre-L cars, at least one is dedicated to a good, 
solid L-model.

But I'd prefer that he find and buy a car from somebody other than you. :>)

Mike

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-------------- next part --------------
   Excellent reply, Mike. Excellent!!!!  I want to underline every
   comment!    ---BILL Lewis
   Date: Fri, 29 May 2015 15:12:31 -0400
   To: jskeane6 at gmail.com; detomaso at poca.com
   Subject: Re: [DeTomaso] Selling my Pantera
   From: detomaso at poca.com

In a message dated 5/28/15 20 31 47, jskeane6 at gmail.com writes:

>
> Due to an impending divorce, I'm thinking about selling my 1974 L-model.
>
>>>I wish you wouldn't.

First of all, I'm profoundly sorry to hear of the difficulties in your
personal life.   It can't be pleasant to have to consider such things.
Although I've never experienced it myself, I've witnessed it far too many times.

One bit of advice I can offer is that I have never, EVER seen somebody in
your position who sold his Pantera because he thought he needed to, and then
later didn't live to regret that decision.   To a man, every one I know who
sold his Pantera because he thought he needed the money for something else
(whatever it was), upon reflection decided that it was a big mistake, that
the money could have come from elsewhere, or whatever it was needed for wasn't
nearly as important as having the Pantera.   The Pantera is a rapidly
appreciating asset; financially you would be much better off determining its
current value and then settling with cash based on that.

> >It's a pretty typical Pantera, in that it's not set up as a race car
> with a 427 in it or anything, but I've done a number of upgrades to make
> it reliable. I live in Arizona, so I've upgraded the fans and radiator
> (Ron Hall Racing aluminum radiator) which keeps the engine cool even
> when idling in the Arizona summer heat. I've also upgraded the
> alternator to a high-amp model, replaced the reciprocal York air
> conditioning compressor with a modern (and much more lightweight)
> centrifugal design, and put Aussie heads on the engine for better
> airflow. The interior was replaces about 10 years ago, and looks good
> although not factory fresh.
>
> I'm thinking about asking $39,000 for it. Is that realistic in today's
> market?
>
>>>That is totally UN-realistic.   A nice, decent, solid Pantera is at
least a $65-70K proposition in today's overheated market.   While that might not

be true tomorrow, it's certainly true today.

FWIW, in the last few months two PCNC members elected to sell their cars
blindly, through dealers.   The first one sold his to a dealer for $42.5K
(*less* than he paid for it a few years ago, and he subsequently spent money on
it improving it).   The dealer flipped it in less than two weeks for $72.5K.

DUH!!!

Now, this week, another PCNC member decided to sell his car without
contacting anybody in the club first.   I don't know what he sold it for, but it

has been sold to a well-known Ferrari broker, who is actually looking at it
right now.   A potential local buyer is planning on meeting him at the car,
and there is a good chance that the car will be sold on the spot.   If the
original seller had just contacted the club, the buyer would have been sent
over there and a deal could have been done where the seller got more money for
his car, and the buyer paid less.

Double-DUH!

If you are committed to selling your car, you're doing it the right way,
reaching out to the community of current and would-be owners.   The world is
small enough now that we don't need to rely on brokers and agents, who
collect large commissions for the work that they do.   I don't begrudge them the
ir
profit when they are doing a bunch of work to earn it, but in your case,
it's unnecessary.

I do hope you'll reconsider selling it however.   If you just don't like
the car anymore and want to be rid of it, that's one thing--in fact that is
the ONLY reason you should be thinking of selling it.   Otherwise, do whatever
it takes to keep it, even if it means short-term financial hardship.   In
the long run you will definitely be happier, not to mention the fact that the
car will be worth substantially more if things continue as they have been
recently.

And if you really, *really* want to sell the car, send me photos and
information, as I have a number of people looking for good cars at the moment.

While most are interested in Pre-L cars, at least one is dedicated to a good,
solid L-model.

But I'd prefer that he find and buy a car from somebody other than you. :>)

Mike

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