Black Magic Mangusta

Because they really don't want to buy it. They are just playing around.

I bid up to what I would have paid for it.....although admittedly less than 90 Gs

Probably trying to drive up the price. It's a beautiful car, but 90 grand ?

This car seems to have been around awhile trying to sell it at the 90 grand price.

And it's still for sale.

quote:

Originally posted by PanteraDoug:
Because they really don't want to buy it. They are just playing around.

Any chance it could have been a shill who knew what the reserve was and took it to $100 less than the reserve so that the other real bidders would take it over the top. Psychology being that since the real bidders were already so heavily emotionally invested in the bidding for the car that the extra couple of thousand wouldn't stop them.

At the end, however, it looks like they came to their senses and stopped bidding.

It's always a tough one when you try to make cars like these investments because it's impossible to predict how stupid the market will get, or how fast it will react if the economy tanks. $90K seems what most people would consider top price for a Mangusta. The highest Mangusta auction sale I could find was $70K and that was in 2003.

Don’t get me wrong, I love them and really want to own one, but as rare as they are, they don’t have the cachet and racing heritage that drives some other marques higher. Still, if I wanted (or needed) to sell it, I wouldn’t have let $100 bucks keep it in my garage (figure the carrying cost on $90K) and if I was willing to pay $89,495, taking an extra hundred out of next month’s beer budget would have been worthwhile stretch.

Next year that will either be a $150K car or a $65K car and I guess the buyer and seller can’t agree which.

quote:

Next year that will either be a $150K car or a $65K car and I guess the buyer and seller can’t agree which.

Seller is Jerry/Dave at PIM, for the actual owner. Beautiful car, full turnkey. If I won the lottery or could have afforded to bid as high as it went, the extra to meet reserve wouldn't have been too hard to justify.

I had a $35K-$38K budget when shopping for my Pantera. When I found 2511, on eBay, he had a $50K reserve. I finally bought it for $42K. Way above budget, but have never looked back or regretted stretching that far.

When you find THE car, you know it and spend accordingly. I suspect one of the bidders for the Goose will be contacting PIM directly and working out a purchase in the near future.

Larry

As described the car was just restored by Wilkinson this summer, appeared at Monterey and was sold. The new owner now owns 4 or 5 DeTomasos, and decided he didn't need to compete with Dave Adler for the owner of the most DeTomaso cars, so he consigned the goose to PI Motorsports. Its a beautiful car. Not a project car. There's nothing left to do other than drive it or trailer it to shows. I was there when the ebay pictures were taken. The car was one of my selections to represent our marque for the morning stage show.

I'm not in tune with mangusta pricing, but $90K isn't out of line at all for what you're getting. The paint & interior work are better quality than what the car had from the factory. Other than some engine dress up stuff, it is about as truly "restored" to show room condition as any DeTomaso ever gets.

cowboy from hell

And now it is sold to Norway.

Egil,

let me be the first to congratualte you. You've purchased a truly beautiful DeTomaso.

George

WOW! Congratulations! Seems like a lot of the nice cars are migrating overseas!

Congratulations on the Mangusta, that is the third one that has left the US that I know of in the last few months. The weak dollar is making them very well priced for Euro buyers and they seem to be undervalued in the US compared to here.

quote:

Originally posted by Odin:
And now it is sold to Norway.

Good move. With the currency rate, it's like getting a 20% discount. Obviously the 'world market' is not just a phrase in this day and age.

Fantastic move on a fantastic car. If you'd be kind enough to share your market observations (others that sold, what they bring in Europe, or even your negotiated price on this one) that'd be great. If you choose not, that's fine too.

Congratulations either way. Don't be a stranger once you start playing with that car. We'd love to hear about your adventures.

A little misunderstanding seems to have occurred...

I am not the buyer of the Mangusta. I bought a Pantera from PI Motorsport. I was told (by Jerry) that the Mangusta also was going to Norway. I do not know who the Norwegian buyer of the Mangusta is.

When i purchased my Pantera from PI , an acquaintance of me also bought the green 1973 Pantera on PI. In the city of Bergen (pop. 250.000), where i live, there is 6 panteras. ( 1971,1973,1974, 1977 GTS & 2 x 1981 GT5)

Not Bad for a little town...

Here is a another Norwegian Mangusta:

I dunno but the bidding has ended and the reserve was not met....

It might not be going anywhere unless another deal was made aside from ebay.

I saw this car at the annual party and I can say that the pics of this car in no way give you the true beauty of it. This car is stunning in every sense and emotion of the word. If I could afford to have a $90k exotic car I would not hesitate to buy it.

Miles

quote:

Originally posted by Odin:
A little misunderstanding seems to have occurred...

I am not the buyer of the Mangusta. I bought a Pantera from PI Motorsport. I was told (by Jerry) that the Mangusta also was going to Norway. I do not know who the Norwegian buyer of the Mangusta is.

When i purchased my Pantera from PI , an acquaintance of me also bought the green 1973 Pantera on PI. In the city of Bergen (pop. 250.000), where i live, there is 6 panteras. ( 1971,1973,1974, 1977 GTS & 2 x 1981 GT5)

Not Bad for a little town...

Here is a another Norwegian Mangusta:

Looks great in that color!

This car was ahead of mine on the Podium at Monterey. It was just breathtaking. Perfect. I have never seen a Mangusta that well done, not even in photos. What other car can you get for $90,000 that is so rare, so beautiful and the virtual epitomy of what it should be? Whoever got that car is very fortunate. I just wish it could have been me.