quote:
Originally posted by Joules:
A project that had been long term parked in a field bid up to $28K on eBay recently, before being pulled and sold off line. Admittedly it had a supposed inspection verifying minimal rust and was complete (with about same mileage). That was an astounding number for such a huge undertaking, here are my thoughts on why we see such numbers;
There are a large number of potential owners who would get a Pantera if they could afford one, that populous has likely grown of late with increasing prices of our cars. Thus, I would postulate project cars appeal to the group, who want a Pantera and this is the only way of being able to afford to get into one.
Cars at this price range (despite condition) are few in numbers which can reflect in some fierce competition, resulting in strong bidding and the car goes for more than 'we' think it should.
At the time of purchase the restoration cost maybe somewhat immaterial to these types of buyers in their desire to own a Pantera knowing that those restoration costs can be spread over months, years or decades, but they are on the ownership ladder.
This particular car is the type of thing I'd expect to see at Alex Manos' Beverly Hills Car Club, in fact it might be worth your friend showing Alex some photos and getting an estimate.
Julian
I agree.
I saw the same thing happen with Cobras. They jumped from around $10,000 to around $40,000 in the 1975 to 1978 time period.
All of a sudden, wrecks and various kinds of basket cases started appearing for sale at around $25,000 to $30,000.
It is a VERY similar scenario to the Panteras now.
People seemingly forever are willing to OVER pay for a basket case simply to get their foot in the door before EVERYTHING is completely out of their reach.
I think this is all just a symptom of the cars seemingly overnight rise of double or triple what they WERE (past tense) selling for a year or two ago?
Overpaying for these basket case is part of the syndrome that pushes them all higher. Cause and effect.
It probably would be a good idea to get on board now BEFORE this becomes a run away train?
I would just post this car for sale and get whatever I could for it.
NO ONE really knows what it will bring or how long it will take to sell it.
"YOU" are asking us all to predict the future based upon the past.
I think that is as accurate as Johnny Carson doing "Karnak the Magnificent" on the old "Tonight Show"?
