[DeTomaso] Insurance valuation

Pantdino pantdino at aol.com
Fri Oct 9 14:41:52 EDT 2015


Auctions are a whole other issue.
 
There was recently discussion of a Dino that sold no-reserve for $300K, buyer's price.  The feeling of the group was that this was probably 50K short of its true value, and when you consider that the seller only got like $260 (buyer and seller premiums both 10%), that seller got totally screwed.
 
The lesson is NEVER SELL WITHOUT RESERVE-- you are taking a huge chance that some dealer will get your car super cheap.
 
Jim
 
 
-----Original Message-----
From: Michael Shortt <michaelsavga at gmail.com>
To: The DeTomaso Registry Guy <detomasoregistry at gmail.com>
Cc: 576103 <MikeLDrew at aol.com>; detomaso <detomaso at poca.com>
Sent: Fri, Oct 9, 2015 11:27 am
Subject: Re: [DeTomaso] Insurance valuation


well Chuck, I felt the same way. But since the actual owner was a car
   dealer
who flips cars
   all day, he went for the quick cash.
   I practically begged
him to let me market the cars after we got them
   running, I'm sure there was
lots left on the table.
   I felt successful by just getting him to let me sell
the parts
   individually instead of looking for a bulk buyer.
   More people
got access and I'm positive he collected more money, if
   only he had listened
to me, I think that was was at least anotherA
   60K available across the three
cars,
   Michael

   On Fri, Oct 9, 2015 at 1:30 PM, The DeTomaso Registry
Guy
   <[1]detomasoregistry at gmail.com> wrote:

     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
     There
is a difference between assisting a buyer (collector) and
     assisting the
seller.
     While a "private sale" tends to be a good thing for the buyer
   
(no competition, or less competition) I believe that a "private
     sale" is
likely to
     not always obtain the "highest and best" price for the seller.

This is kind of the whole basis for auctions isn't it?
     I'd suspect that
although Mr. Shortt may have reached a quick sale
     for his seller,
     I
suspect he may have 'left some money on the table'.
     If a car dealer
bought, then we know the dealer thinks there is more
     money on the table.

Chuck

   --
   Michael L. Shortt
   Savannah, Georgia
  
[2]www.michaelshortt.com
   [3]michael at michaelshortt.com
   912-232-9390
  
A
   This email is protected by the Electronic Communications Privacy
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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
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   have received
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References

   1.
mailto:detomasoregistry at gmail.com
   2. http://www.michaelshortt.com/
   3.
mailto:michael at michaelshortt.com

 
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-------------- next part --------------
   Auctions are a whole other issue.



   There was recently discussion of a Dino that sold no-reserve for $300K,
   buyer's price.  The feeling of the group was that this was probably 50K
   short of its true value, and when you consider that the seller only got
   like $260 (buyer and seller premiums both 10%), that seller got totally
   screwed.



   The lesson is NEVER SELL WITHOUT RESERVE-- you are taking a huge chance
   that some dealer will get your car super cheap.



   Jim





   -----Original Message-----
   From: Michael Shortt <michaelsavga at gmail.com>
   To: The DeTomaso Registry Guy <detomasoregistry at gmail.com>
   Cc: 576103 <MikeLDrew at aol.com>; detomaso <detomaso at poca.com>
   Sent: Fri, Oct 9, 2015 11:27 am
   Subject: Re: [DeTomaso] Insurance valuation
well Chuck, I felt the same way. But since the actual owner was a car
   dealer
who flips cars
   all day, he went for the quick cash.
   I practically begged
him to let me market the cars after we got them
   running, I'm sure there was
lots left on the table.
   I felt successful by just getting him to let me sell
the parts
   individually instead of looking for a bulk buyer.
   More people
got access and I'm positive he collected more money, if
   only he had listened
to me, I think that was was at least anotherA
   60K available across the three
cars,
   Michael

   On Fri, Oct 9, 2015 at 1:30 PM, The DeTomaso Registry
Guy
   <[1][1]detomasoregistry at gmail.com> wrote:

     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
     There
is a difference between assisting a buyer (collector) and
     assisting the
seller.
     While a "private sale" tends to be a good thing for the buyer

(no competition, or less competition) I believe that a "private
     sale" is
likely to
     not always obtain the "highest and best" price for the seller.

This is kind of the whole basis for auctions isn't it?
     I'd suspect that
although Mr. Shortt may have reached a quick sale
     for his seller,
     I
suspect he may have 'left some money on the table'.
     If a car dealer
bought, then we know the dealer thinks there is more
     money on the table.

Chuck

   --
   Michael L. Shortt
   Savannah, Georgia

[2][2]www.michaelshortt.com
   [3][3]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.
[4]mailto:detomasoregistry at gmail.com
   2. [5]http://www.michaelshortt.com/
   3.
[6]mailto:michael at michaelshortt.com

_______________________________________________

Detomaso Forum Managed by
POCA
Posted emails must not exceed 1.5 Megabytes
DeTomaso mailing
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[8]http://poca.com/mailman/listinfo/detomaso_poca.com

To
manage your subscription (change email address, unsubscribe, etc.) use the links
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References

   1. mailto:detomasoregistry at gmail.com
   2. http://www.michaelshortt.com/
   3. mailto:michael at michaelshortt.com
   4. mailto:detomasoregistry at gmail.com?
   5. http://www.michaelshortt.com/
   6. mailto:michael at michaelshortt.com?
   7. mailto:DeTomaso at poca.com
   8. http://poca.com/mailman/listinfo/detomaso_poca.com


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