[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
you
have received
this message in error, then delete it.A Thank you
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
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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?
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