[DeTomaso] Insurance valuation
Michael Shortt
michaelsavga at gmail.com
Thu Oct 8 16:26:18 EDT 2015
The recent deal that I was associated with on the estate sale with 3
Panteras, a GT350 and a 76 Lincoln plus all the Detomaso parts.
The 3 Panteras, a 72 with 6K miles, a 73 with 10K miles and a 73 with 17K
miles had all sat for 35 years, none of them ran, all in good shape but
will need hours of rehab and maybe gas tanks (seriously cleaned at least),
they were all red. Sold them all in a week and the cheapest one was 65K.
GT350 went for 140K, sold it on the telephone, sight unseen.
Michael Shortt
On Thu, Oct 8, 2015 at 4:15 PM, Mike Drew via DeTomaso <detomaso at poca.com>
wrote:
> In a message dated 10/8/15 11 46 0, pantdino at aol.com writes:
>
> I note that no one has posted multiple auction results of stock,
> unrestored Panteras selling at 90K. I think you'll find that
> $65-70K is more like it.
>
> >>>Of course, it all depends on condition. But like it or not, values
> are on the up and continue to climb.
> Just in the last six weeks, I've been involved in brokering the sale of
> three different cars--private sales, not dealers, not auctions.
> The first represents the absolute high-water mark in terms of Pantera
> desirability--a yellow chrome-bumper car. Both the color, and the
> bumper style, impart additional value. A fully restored and repainted
> example was seen at the Phoenix Fun Rally at the Pavilions car show
> (the owner didn't actually participate in the rally), unique because it
> wears Alaska plates, so many here will remember it. That same car was
> at Concorso Italiano this year. Following the show, I was asked to
> perform due diligence for a prospective buyer, so it was hauled to a
> nearby Ferrari specialist who gave us access to his lift. At the end
> of the day, the buyer offered $125K and was turned down; the seller was
> firm on his asking price of $150K (which I feel is unrealistic--$125K
> should have bought it).
> A few weeks ago I helped with the estate sale disposal of a one-owner
> 25K mile '71 that was in almost in 'barn find' condition. It had been
> sitting for quite a few years, and did not run. It had mouse damage to
> the front and rear trunk compartments, had been repainted, and still
> had evidence of incorrect lines on the left side, leading me to suspect
> that it may have been hit there. It needed a complete recomissioning
> (hoses, calipers, belts, etc.) and of course the engine was an unknown
> quantity since it didn't run. It sold for more than $70K.
> Over this past weekend I was in Canada to perform due diligence on a
> low-mileage L-model. This car is in almost perfect condition, having
> spent almost all of its life in storage. A few years ago it had money
> spent on it with a new radiator, hoses, etc. etc. so it's driveable. I
> found a short list of minor faults (turn signal switch, headlight
> switch works but is of the incorrect style, decklid shocks flaccid,
> carb needs a rebuild) so the seller is going to fix them before putting
> it on the market. When it does become available, however, for sure it
> will be a six-figure car, even though it's a less-desirable L-model.
> I don't dare make predictions about the future value of these
> cars--some will swear they are going to continue climbing, others say a
> correction is coming. I choose not to say, because I have no more idea
> than anybody else. But I CAN say what is happening today, right now,
> because I've been down in the trenches, making deals happen for people
> (and it's worth mentioning that I scrupulously avoid accepting any
> money from either buyer or seller; I do what I do for the love of the
> cars and nothing else).
> By the same token, I suspect you haven't kept up with the actual value
> of your Dino. Ten years ago, Dinos traded hands for Pantera money.
> Now, some people have been reaching for the stars and selling them for
> more than $500K, but those are outliers. Without having seen yours in
> person, but knowing you, I suspect it's a terrific car, but perhaps not
> a show car, and as such it's worth north of $300K, perhaps quite a bit
> north. Whether that's a good thing or a bad thing is something only
> you can decide for yourself, but believing it isn't so won't change
> anything....
> Mike
>
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--
Michael L. Shortt
Savannah, Georgia
www.michaelshortt.com
michael at michaelshortt.com
912-232-9390
This email is protected by the Electronic Communications Privacy
Act, 18 U.S.C. Sec. 2510-2521, is confidential and may be legally
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that any retention, dissemination, distribution or copying of this
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have received this message in error, then delete it. Thank you
-------------- next part --------------
The recent deal that I was associated with on the estate sale with 3
Panteras, a GT350 and a 76 Lincoln plus all the Detomaso parts.
The 3 Panteras, a 72 with 6K miles, a 73 with 10K miles and a 73 with
17K miles had all sat for 35 years, none of them ran, all in good shape
but
will need hours of rehab and maybe gas tanks (seriously cleaned at
least), they were all red. Sold them all in a week and the cheapest one
was 65K.
GT350 went for 140K, sold it on the telephone, sight unseen.
Michael Shortt
On Thu, Oct 8, 2015 at 4:15 PM, Mike Drew via DeTomaso
<[1]detomaso at poca.com> wrote:
A A In a message dated 10/8/15 11 46 0, [2]pantdino at aol.com writes:
A A A I note that no one has posted multiple auction results of
stock,
A A A unrestored Panteras selling at 90K.A I think you'll find
that
A A A $65-70K is more like it.
A A >>>Of course, it all depends on condition.A But like it or
not, values
A A are on the up and continue to climb.
A A Just in the last six weeks, I've been involved in brokering the
sale of
A A three different cars--private sales, not dealers, not auctions.
A A The first represents the absolute high-water mark in terms of
Pantera
A A desirability--a yellow chrome-bumper car.A Both the color, and
the
A A bumper style, impart additional value.A A fully restored and
repainted
A A example was seen at the Phoenix Fun Rally at the Pavilions car
show
A A (the owner didn't actually participate in the rally), unique
because it
A A wears Alaska plates, so many here will remember it.A That same
car was
A A at Concorso Italiano this year.A Following the show, I was
asked to
A A perform due diligence for a prospective buyer, so it was hauled
to a
A A nearby Ferrari specialist who gave us access to his lift.A At
the end
A A of the day, the buyer offered $125K and was turned down; the
seller was
A A firm on his asking price of $150K (which I feel is
unrealistic--$125K
A A should have bought it).
A A A few weeks ago I helped with the estate sale disposal of a
one-owner
A A 25K mile '71 that was in almost in 'barn find' condition.A It
had been
A A sitting for quite a few years, and did not run.A It had mouse
damage to
A A the front and rear trunk compartments, had been repainted, and
still
A A had evidence of incorrect lines on the left side, leading me to
suspect
A A that it may have been hit there.A It needed a complete
recomissioning
A A (hoses, calipers, belts, etc.) and of course the engine was an
unknown
A A quantity since it didn't run.A It sold for more than $70K.
A A Over this past weekend I was in Canada to perform due diligence
on a
A A low-mileage L-model.A This car is in almost perfect condition,
having
A A spent almost all of its life in storage.A A few years ago it
had money
A A spent on it with a new radiator, hoses, etc. etc. so it's
driveable.A I
A A found a short list of minor faults (turn signal switch,
headlight
A A switch works but is of the incorrect style, decklid shocks
flaccid,
A A carb needs a rebuild) so the seller is going to fix them before
putting
A A it on the market.A When it does become available, however, for
sure it
A A will be a six-figure car, even though it's a less-desirable
L-model.
A A I don't dare make predictions about the future value of these
A A cars--some will swear they are going to continue climbing,
others say a
A A correction is coming.A I choose not to say, because I have no
more idea
A A than anybody else.A But I CAN say what is happening today,
right now,
A A because I've been down in the trenches, making deals happen for
people
A A (and it's worth mentioning that I scrupulously avoid accepting
any
A A money from either buyer or seller; I do what I do for the love
of the
A A cars and nothing else).
A A By the same token, I suspect you haven't kept up with the
actual value
A A of your Dino.A Ten years ago, Dinos traded hands for Pantera
money.
A A Now, some people have been reaching for the stars and selling
them for
A A more than $500K, but those are outliers.A Without having seen
yours in
A A person, but knowing you, I suspect it's a terrific car, but
perhaps not
A A a show car, and as such it's worth north of $300K, perhaps
quite a bit
A A north.A Whether that's a good thing or a bad thing is
something only
A A you can decide for yourself, but believing it isn't so won't
change
A A anything....
A A Mike
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Michael L. Shortt
Savannah, Georgia
[5]www.michaelshortt.com
[6]michael at michaelshortt.com
912-232-9390
A
This email is protected by the Electronic Communications Privacy
Act, 18 U.S.C. Sec. 2510-2521, is confidential and may be legally
privileged.A If you are not the intended recipient, you are hereby
notified
that any retention, dissemination, distribution or copying of this
communication is strictly prohibited.A Please reply to the sender that
you
have received this message in error, then delete it.A Thank you
References
1. mailto:detomaso at poca.com
2. mailto:pantdino at aol.com
3. mailto:DeTomaso at poca.com
4. http://poca.com/mailman/listinfo/detomaso_poca.com
5. http://www.michaelshortt.com/
6. mailto:michael at michaelshortt.com
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