quote:Originally posted by 1Rocketship:
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.
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???!!!
Mark,
I congratulate you on your investment prowess, very astute but therein I think is the difference in some of our opinion and thinking, you are first and foremost an investor, second a car guy and maybe only then as the 'commodity' is offering good returns. Most others here and that I have met in the De Tomaso community are simply car guys, the thrill of the drive and camaraderie provides far greater returns than money alone can offer.
We all reach the same destination where the value of our cars won't matter, but the journey's a lot more fun driving a De Tomaso
Julian