Hello Julian; I'm first & foremost a "Car Guy", as my busted knuckles, greasy overalls & an over 40 year collection of automotive tools & equipment would attest too.quote:Originally posted by Joules: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
I do readily admit to acquiring various Sports Cars with an eye towards possible appreciation, but NEVER secondary to the driving experience & enjoyment of the specific Sports Car.
I'm interested in resurrecting "Barn Finds".
I purposefully look for Sports Cars that have been stored, hidden from view for decades.
I've spends weeks just filling cylinder walls of frozen engines with a mixture of transmission fluid & acetone hoping to free an engine that hasn't turned in 2-3 decades.
An "investor" as you falsely perceive myself as, Would be instantly financially UPSIDE DOWN on the value of the car, if as an "investor" I had to pay a shop to restore these "Barn Finds".
For myself it's a sense of Pride & Self-Gratification to bring a Sports Car..."Back to Life"!!! & brings myself MUCH closer to intimately knowing the idiosyncrasies and nuances of the individual car/s that I have restored.
I've spent enough time around self anointed "Car Guys" ( Ferrari owners especially) that upon opening the bonnet, couldn't tell you to save their collective lives where the oil dip stick is...
Quick story...A few years ago I was invited as a guest of Ferrari/Maserati of Silicone Valley to attend the Ferrari 360 Challenge series with FULL ACCESS passes.
LOTS OF HUGE $$$$$$!!!! walking around as owners that pay for ownership into the 360 Challenge Series are in the financial 1% club.
I drove my 1991 Testarossa that has some serious engine modifications of my own design & fabrication.
I had the rear deck lid open when a gentlemen started to ask about some of my modifications as the gentle told me that he also owned a Testarossa but that mine..."SURE didn't sound like his"...I enjoy talking cars/engines & I explained the mods I had done.
So I asked..."Are you enjoying the race"?
To which he replied..."I would if my 360 was running better"!!!
So the guy I was talking to, is an owner & participant of the Ferrari 360 Challenge Series.
Now I'm curious, So I ask..."What's the rev limiter set at on your engine?!"
Guy without blinking an eye replies..." I DON'T KNOW!...When the red light ( shift indicator) comes on...I SHIFT!!!"
So here's a multi-multi Millionaire with enough disposable income to spend a MILLION a YEAR to be part of the 360 Challenge Series...BUT has NO CLUE what RPM the rev limiter is set at!!!
I would state that amongst "Collectable" Sports Cars that DeTomaso Pantera owners have the greatest perpencity to modify their cars for performance & handling gains with relative little regard to affecting value.
I'm currently cutting the front of the rear wheels wells to install brake cooling ducts.
I personally didn't think whether I was affecting the valuation of the Pantera with this modification ( NOT something an INVESTOR would do!!!) I was thinking about the added performance benefit of NOT having brake fade going into Andretti Hairpin ( turn 2) at Laguna Seca!!!
PLUS "I" feel the cooling scoops flow seamlessly into the body in the style of a Lamborghini Miura...Mark
http://www.jams.elb.vectranet.pl/miura/3fin.jpg