[DeTomaso] Legendary Motor Cars Pantera

[MikeLDrew at aol.com]

In a message dated 3/21/16 12:54:52 PM, bill at incendium.com writes:


> 
>    
> Yup. Last April here in Alberta that same car sold for $84,000 CDN. A 
> couple of files and now it goes for $139,000 US. Fair return.
> 

>>>Well, to be fair, that $139K price was the asking price--we don't know 
what it actually sold for.

I got to drive and work on that car when it was (briefly) in Fred Phillips' 
collection in Calgary last fall.   It has an interesting history--it has 
ridiculously low mileage (3485 when I parked it), but it's been repainted.   
Apparently it was purchased by somebody who locked it away in a barn figuring 
he was going to get rich selling it many years later.   Sadly, critters got 
in the rafters and the car got spattered with bird poop which wrecked the 
paint, requiring a full repaint in the original color not that long ago.

The car ran and drove fine, although the stock carb was a POS in need of a 
rebuild.   In all respects, it was literally like driving a brand new 
Pantera.   (The steering wheel center pad had crumbled; I replaced it that same 
day with a Hall replacement which seemed to be of good quality).

To be useable, it really needed a carb overhaul, and a battery.   I had a 
buyer lined up for it, but Fred would have had to spend time fixing it, and 
Peter at LMC made him an offer that was solid enough that he sold it as-is to 
him a few months ago.

Was it well-bought for whatever the new owner paid for it from LMC?   Your 
guess is as good as mine.   I would suggest that the price premium of low 
mileage is at least partially offset by the fact that the car was repainted so 
it isn't "original" anymore.

I suspect it will go into somebody else's collection and never be driven, 
still...:<(

Mike

P.S.   If the fellow who bought it new, had instead invested that $10K in 
even a moderately performing investment, he would have made a LOT more money. 
  So he basically wasted 40 years of Pantera ownership for nothing, failing 
to get the enjoyment out of driving the car.   Lesson to be learned there 
too....
-------------- next part --------------
   In a message dated 3/21/16 12:54:52 PM, bill at incendium.com writes:


     Yup. Last April here in Alberta that same car sold for $84,000 CDN.
     A couple of files and now it goes for $139,000 US. Fair return.

   >>>Well, to be fair, that $139K price was the asking price--we don't
   know what it actually sold for.
   I got to drive and work on that car when it was (briefly) in Fred
   Phillips' collection in Calgary last fall.  It has an interesting
   history--it has ridiculously low mileage (3485 when I parked it), but
   it's been repainted.  Apparently it was purchased by somebody who
   locked it away in a barn figuring he was going to get rich selling it
   many years later.  Sadly, critters got in the rafters and the car got
   spattered with bird poop which wrecked the paint, requiring a full
   repaint in the original color not that long ago.
   The car ran and drove fine, although the stock carb was a POS in need
   of a rebuild.  In all respects, it was literally like driving a brand
   new Pantera.  (The steering wheel center pad had crumbled; I replaced
   it that same day with a Hall replacement which seemed to be of good
   quality).
   To be useable, it really needed a carb overhaul, and a battery.  I had
   a buyer lined up for it, but Fred would have had to spend time fixing
   it, and Peter at LMC made him an offer that was solid enough that he
   sold it as-is to him a few months ago.
   Was it well-bought for whatever the new owner paid for it from LMC?
   Your guess is as good as mine.  I would suggest that the price premium
   of low mileage is at least partially offset by the fact that the car
   was repainted so it isn't "original" anymore.
   I suspect it will go into somebody else's collection and never be
   driven, still...:<(
   Mike
   P.S.  If the fellow who bought it new, had instead invested that $10K
   in even a moderately performing investment, he would have made a LOT
   more money.  So he basically wasted 40 years of Pantera ownership for
   nothing, failing to get the enjoyment out of driving the car.  Lesson
   to be learned there too....