1972 DeTomaso Pantera
Unrestored with 1,561 Miles sells for $80,000
Buyer fee 8%. Seller fee 8%.
http://www.mecum.com/auctions/...campaign=SC0514-F213
One more on the block later today.
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What's that microphone in the car, but the radio?
Did Panteras come with PA systems? Or maybe a Dict-o-graph?
Rocky
Did Panteras come with PA systems? Or maybe a Dict-o-graph?
Rocky
did it say power steering? the microphone is so you can cruse down the road see pretty girls and give them that famous line "hey girls I'll be back to pick you up later".
Take note. a car that can't be driven reliably sells for $80K It would probably take another $10K to go through brakes, cooling system, various engine components, and cosmetic freshening up. What would an upgraded, restored, reliable BUT NOT ORIGINAL car go for? It wouldn't come close even if three times the money had been spent. Queens Rule!
You could have a pretty nice car for that kinda' money...
That's an investment vehicle not a hobby car.
You can't use it.
And if you had invested $11,000 in 1972 you would probably have more than $80,000 by now and you wouldn't had to have keep the cash in a climate controlled garage for 40 years.
I'll stick with one I can drive.
Doug M
You can't use it.
And if you had invested $11,000 in 1972 you would probably have more than $80,000 by now and you wouldn't had to have keep the cash in a climate controlled garage for 40 years.
I'll stick with one I can drive.
Doug M
a present value of 80,000 from a 40 year investment of 11,000 is 5.1%
5.1% minus expenses such as insurance registration. maintenance. Ok maintenance it little if its not driven but still after 40 years it needs something like fluid changes etc.
It may be an investment vehicle, but it still needs up keep. It's going to continue to deteriorate. The engine bay sure doesn't look like low mileage. If it's not going to be used, just drain all the fluids. I'd say there's allot more risk purchasing it now.
I come up with a 16.6% annual return. Considering a 700% gain stretched out over 42 years. Damn good, but I doubt original owner.
I come up with a 16.6% annual return. Considering a 700% gain stretched out over 42 years. Damn good, but I doubt original owner.
quote:Originally posted by Rocky:
..Did Panteras come with PA systems?..
Mine did, part of the CB radio!
Regarding the other Mecum Pantera, I saw this car at Mecum yesterday (Not the one above). The pictures are much better looking than in person. The restoration is very old. Seats cracked, 16 inch wheels, wheels don’t look like they had any care for the past 10 years. Engine compartment needs care and detail. The car brought 65K + 5,200 buyers premium & 5,200 less to the seller. I would have guessed 50-52K. Crazy. Paint was very nice! Nice radiator & fan set up, newer aluminum radiator. The rest of the car was a very tired restoration. The difference between the pictures and the car was disappointing.
http://www.mecum.com/auctions/...RIDKEY=SC0514-189476
http://www.mecum.com/auctions/...RIDKEY=SC0514-189476
700%/42 years does give a gross return of 16.6%, but if you calculate your investment returns that way, you are sure to loose your shirt. As mentioned above, the compounded annual return is about 5.1%. But then there is inflation. To look at it another way, $11K in 1972 $$ is about $60K to $62K in today's $$ (depending on who's inflation calculator you use). So the real increase is only about $20K or about a 1.5% compounded annual Rate of Return. Of course if you sold it you would owe capital gains tax on $69K. So, depending on your tax bracket, you would probably end up with a loss.
If you had put that same $11K in an IRA (or better a Roth IRA but I'm not sure they existed in the early '70s) and just left it in an efficient S&P 500 index fund, according to this calculator http://dqydj.net/sp-500-return-calculator/ the inflation adjusted rate of return, with dividends reinvested, would have been about 5.7% for the S&P, so about 5.5% for an efficient index fund. Using that same calculator but not adjusting for inflation you get a 10.2% ARR or a 5824% total return. That would turn your initial $11K investment into something like $550K (depending on how efficient your fund was) in today's $$.
Kind of makes you sick, but we weren't in it for the money, were we?? BTW, I bought my Pantera in '71 with the thought that it would be much better cost wise than buying a new Corvette (I hated them then, so that wouldn't have happened) or Porsche every 5 to 10 years.
If you had put that same $11K in an IRA (or better a Roth IRA but I'm not sure they existed in the early '70s) and just left it in an efficient S&P 500 index fund, according to this calculator http://dqydj.net/sp-500-return-calculator/ the inflation adjusted rate of return, with dividends reinvested, would have been about 5.7% for the S&P, so about 5.5% for an efficient index fund. Using that same calculator but not adjusting for inflation you get a 10.2% ARR or a 5824% total return. That would turn your initial $11K investment into something like $550K (depending on how efficient your fund was) in today's $$.
Kind of makes you sick, but we weren't in it for the money, were we?? BTW, I bought my Pantera in '71 with the thought that it would be much better cost wise than buying a new Corvette (I hated them then, so that wouldn't have happened) or Porsche every 5 to 10 years.
quote:Originally posted by RRS1:
It may be an investment vehicle, but it still needs up keep. It's going to continue to deteriorate. The engine bay sure doesn't look like low mileage. If it's not going to be used, just drain all the fluids. I'd say there's allot more risk purchasing it now.
I come up with a 16.6% annual return. Considering a 700% gain stretched out over 42 years. Damn good, but I doubt original owner.
I have photos from an inspection done a few years ago when this car was on Craigslist. Really rough underside and miles are very doubtful. We turned it down for around 40K
Those mirrors are something!
It's too bad - the car looks very nice in the photos... Except those mirrors!
Rocky
It's too bad - the car looks very nice in the photos... Except those mirrors!
Rocky
What's wrong with those mirrors, originals, right?
I find it odd this photo from over a year ago shows the same exact miles when it was in Arkansas, not a mile more than when auctioned!
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Nope, I must have looked wrong place
The beige car is a very early car #1423. Blacked out rockers, original mirrors and wheels would be an improvement in looks I think. Last time it changed hands was according to Chucks registry in 2008 when it fetched $58000.
I like the color - kind of amplifies the beautiful lines of the pantera. Always wondered what a pantera would look like in that color. My car #1267 came in that color (or close to) from the factory (V503).
I like the color - kind of amplifies the beautiful lines of the pantera. Always wondered what a pantera would look like in that color. My car #1267 came in that color (or close to) from the factory (V503).