This is my letter to the editor:
I enjoy reading your magazine and find the articles to be very interesting. In your November issue, on page 68, I noted the photograph and accompanying text that pertained to the auction sale of a 1972 DeTomaso Pantera. The author commented that this sale may have been close to a record and then went on to conclude that, "All the money many Pantera enthusiasts spend on upgrades and performance parts is thrown down the drain." In addition, it is stated that, "The real Pantera market is for stock cars...."
As the Director of Pantera International (
www.pantera.net ) , a factory recognized car club and an owner of PI Motorsports, Inc. (
www.pim.net ), I would make these observations:
1) Auctions don't always reflect the high-water prices of Panteras. Sales are routinely made in the $40-60,000 range by PI Motorsports for quality cars and on the market. I do believe a white Pantera sold last year at the BJ Auction for over 40K last year.
Examples of sales at PI Motorsports, Inc.:
http://www.pim.net/21703jk.html - Sold for $59,000
http://www.pim.net/blue91702.html - Sold for $57,000
http://www.pim.net/gts826.html - Sold for $47,000.00
These are all recent sales. We have been selling Panteras since 1996 exclusively. Average to below average cars will sell for $25-30,000.00 as a rule. The most we have ever sold a Pantera for was $80,000.00 and we have had several in the 60K range.
2) Stock cars, although attractive to look at, are harder to sell than modified cars. The cars that are very original are not as desirable to Pantera enthusiasts who for the most part want to drive their cars and to have them perform like modern sportscars do, such as a Viper. What will hurt the value of a Pantera are modifications that are made of low-quality workmanship or inferior parts.
Example of a stock car that has not sold:
http://www.pim.net/ray711.html - almost 2 years for sale with no acceptable offer.
3) Not all upgrades are "money down the drain." Considering that a Pantera originally sold for around $10,000 new, they have appreciated consistently while such cars as the Ferrari 308, Corvettes and Porsches (especially a 928) have fell strongly in value. The cost to upgrade a Cleveland is nominal compared to an overhaul on a Ferrari, Maserati, etc. Most owners are able to get a return of their investment or make a small profit when it comes time to sell, unless they grossly overpaid for their cars. I have been an owner since 1974 and personally observed escalating prices and naturally, met many satisfied owners who enjoy driving their cars and participating in such events as the Concorso Italiano where there were over 70 of the cars displayed this year as you may have seen.
I appreciate your consideration of this information regarding the values of Panteras and stock vs. modified presentation. Please do not hesitate to contact me if you should have any questions or comments.
Cordially,
David Adler
Director, Pantera International
