quote:
Originally posted by fordgt40:
... my other dilemma is to go for the unmolested or the upgraded ones? ... Which one will hold its value ...
The Pantera has become a collectable Italian sports car; it is no longer the frowned-upon hybrid it once was. The demand for the car has risen in recent years; it has new-found desirability and respectability. It should be perceived as a collectable car having intrinsic value. The manner in which we evaluate the Pantera has been influenced by its new respectability.
The majority of Pantera shoppers fall into one of three categories:
(1) Those who want a Pantera to drive;
(2) Those who want a Pantera for concourse car shows or as an investment; or
(3) Those who want a project car that they can refurbish themselves.
Market conditions dictate that the Pantera’s value must be based on its suitability for one of those three purposes.
As a shopper your task is to decide for which purpose you desire to own a Pantera!
Those shoppers who want to drive their Pantera are searching for a car that retains its OEM appearance and is in physically good condition. They are also searching for a car that is in good operating condition, that is reliable, that is comfortable, and that performs well enough to be driven with some degree of regularity. Such cars are usually refurbished AND modified with select discretionary improvements. Over-personalization of such cars will diminish their value.
Those shoppers who want a Pantera to serve as a concourse show car and/or as an automotive investment will evaluate the car based on how difficult or expensive it shall be to restore the car to showroom condition; this includes the difficulty and expense of reversing any modification or personalization. Some shoppers in this category value a car which retains its “original patina” over a car that has been restored.
The first two types of shoppers tend to shun cars that have been over-modified, excessively personalized or poorly maintained. Although the 1971 – 1974 Panteras were manufactured in relatively high volume, many of them are in a state of being under-maintained or over-modified. This increases the price and desirability of the Panteras which are well-maintained, which are refurbished with a high degree of craftsmanship, which have been improved with discretion, and/or which are in show-room original condition. The values of Panteras which have been under-maintained or over-modified are suffering in this market.
North American Panteras (1971 – 1974) which have been modified to GT5 or GT5-S spec are a unique situation. Many North American enthusiasts prefer the “wide body” versions of the Pantera. But those versions were not imported by Ford. They were imported as grey market vehicles during the 1980s in small numbers. Tailpipe emissions regulations have often become complications for owners of those 1980s grey market versions. However a 1971 – 1974 North American version of the Pantera modified to GT5 or GT5-S spec will only have to comply with 1971 – 1974 tailpipe emissions regulations. If the GT5/GT5-S modification has been performed with a high grade of craftsmanship, the car can be worth as much as the “real thing” in certain states.
Those buyers who want a project car that they can refurbish themselves must find cars that are priced low enough that after all the refurbishing work is accomplished the money they’ve invested has not exceeded the value of the car (this type of shopper is one who plans to perform the majority of the work themselves because it would otherwise be impossible for them to achieve that financial goal).