Here's a different way to approach the answer to your question:
How close is it to what you want it to be?
In other words, say you want a wing and a wing costs $1,500. Has ALL the parts that have rubber been replaced? Boots into and out of the interior, door jams, window moldings? Than could run another $1,000 +/-. A-arm bushings been replaced ($750 +/-)? Play in the steering wheel ($500-$1,000)? Brakes OK ($1,000 to $3,000 if rotors are bad and calipers are not good)?
Many cars with this type of mileage are steeply discounted. My most IMPORTANT question would be, where was the car driven over these last 30 +/- years. This is going to be the best indicator for rust. Detroit, NO SALE. Desert Southwest, California? Likely no rust. Push you thumb on the door jam just below the door striker plate, where it curves from vertical to horizontal, if it pushes through and you have to pull your thumb out, NO SALE.
What will it cost to get it to where you want it to be? Would it be less costly to just buy one that's 'there already'? Or do you love the car as it is?
So, I'd go about the answer to your question from the reverse angle. Get out your note pad, write down what your ultimate Pantera would have, then go to the PI Motorsports weblink in yellow above, search their online catalog and price out everything your that's on your list. Add it all up, add that semi-total to the cost basis of this 120,000 mile Pantera and see what its gonna cost you to get there. Then factor in the fact that the Title will always say 120,000 miles when sold in 2003, because if you ever sell it, somebody's gonna find out. So that means you're gonna have to discount it.
Take this Grand Total, and compare that to what is available on the market that is very close to what you want, factoring in the premium for lower miles of the likely candidate that is very close to your ideal Pantera.
The brake arm and clutch pedal arm will oval out under the dash with lots of usage, etc, etc. Sqeeks, rattles, etc. Can you live with that? Are you gonna do the work? Your time will always be worth almost $0.00 when you go to sell. Lucky to recover parts costs.
Maybe you just want to drive it for a year or two, and have the will power to resist upgrading it, and will be willing to sell it at a deep discount too.
What does this guy's receipts show? If he's put $100,000 into it and its been a 'frame-off' restoration from one of the Major Pantera vendors with a terrific reputation and he's gonna let you have it for $25,000 to $30,000 then maybe. But, I'd still want to see the receipts and call the 'frame-off' restoration guy and talk with him in great detail. What did this guy 'cheap out' on? Cost is 'no object' restoration, 1st class? If it was restored by Maaco or 1-day Auto body or the local Joe's body shop. NO SALE.
Tough call, and you gotta do more homework to get the right answer. Not a 'shoot from the hip' decision.
[This message has been edited by ron norman (edited 07-10-2003).]
