Hello Joules; As with ANY investment ie: Real Estate, Sports Cars, Art, Antiques, etc, etc, a RAPID escalation in value in a truncated time frame gives the holder a two edged sword with which to yield, be it gingerly or conversely aggressively.quote:Originally posted by Joules:
Maybe each persons perspective depends on why he/she owns the car(s); I.e. if they are investments, (Sharkey can be considered a short term investor) then yes the investor will be happy they appreciate and provide a good return.
I would be willing to bet that most Pantera owners are not in that category, they own them to enjoy them and as such the valuation increase is a double edged sword, at some point they become too valuable to drive for many of the people that purchased them for exactly that.
I've said it before but IMO there is also a bit of a bubble being created here, investors who see the stock market swings as more risky than old cars! Everything is worth what someone is willing to pay on the day, but do you honestly believe that your Testarossa as an auto is worth what it might fetch today? Would you buy it at today's market value?
It's easy to quote a few high $ sales and portray Pantera's are all worth that, but a statistically a valid cross section of sales is required to support what prices generally are, for every $125K sale I can point you to a $40K sale, what does that say? To me it speaks to the success of auction houses in being able to liquor up some rich guys and part them with their money, not that I have any problem with that!
the questions being..."1"...Does the holder deem the item as "over valued" & sell?!
"2"...Hold with the speculation the appreciation wave will continue to build and as such..."Ride the Wave".
MANY DeTomaso Pantera owners have owned their collective Panteras for decades or more. Their initial buy in cost will NEVER fall below that point, so for them, there is ONLY an upside in regards to valuation.
In Real Estate, the time tested adage is..."Location, Location, Location.
My approach to acquiring Sports Cars is "Condition & Rarity".
In answering your question... "but do you honestly believe that your Testarossa as an auto is worth what it might fetch today? Would you buy it at today's market value?"
My answer is two-fold.
My 1991 Testarossa is the last year model before the 512 TR version, it is the highly coveted California lineage car, sold in California, has remained in California.
100 % rust-free, No accident car, ALL original body panels/paint/interior, low mileage, FAMOUS Miami Vice color scheme ( White/Tan) example.
I WOULD BUY today at it's current valuation with the caveat being..."As a long Term Investment".
In my life's experience ( I'm 57 ) investors that "wait on the fence"...FALL OFF in both directions!!!
Here's a current example.
In 2010 invested in what is referred to as a "Bulldozer Property" ( value is strictly in the land)...home is a relative "Bulldozer" in Cupertino, Ca.
Home was a 2 bedroom 1 bathroom 800 Sq Ft home on a 5,500 Sq Ft lot surrounded by $1.5 MILLION dollar homes.
Purchase price was $608,000.00.
VAST percentage of "Real Estate Experts" thought that $608,000.00 was still OVER PRICED!
I followed my own instincts & previous real estate experiences...
TODAY that "Bulldozer" is...wait for it.......1.3 MILLION!!!
So those "Expert" & "Fence Sitters" are...Crying in their collective COLD soup! & I'm sipping Vintage French champagne!
Have I made some "POOR" investments???!!...does marriage count???!!!
To the owners that are afraid to drive their DeTomaso Panteras because of the value & chance of an accident, I ask this question???!!
Did you STOP having sex because your penis might break???!!!
