Pantera #7342 - Buy and Flip

The new wheels should bring it up to $40 grand..

Wow - that was fast! The car sold on 12-1 in Atlanta and Mershon's in Ohio put it on ebay last weekend. In less than 1 week, the car sold and was delivered to Ohio. Impressive...

Mershon's also has an 18,000 mile yellow L.

Oh, I forgot to mention. Both cars are listed for $60,000 each on their website.

quote:

Both cars are listed for $60,000 each

I thought that car was given away on Ebay based on the price.
It should have been $10 grand more.
Someone else also thought so.
Tom

The car looks pretty nice in the photos...the interior pic is blurry, but it looks like non-stock appearing seat covering,wrong radio, and repro wheels, but otherwise looks like a nice,fairly accurate restoration. Would $50K or so be out of line? At least two low mileage Panteras have sold for well over that this year.

%@*$@"*! Ok - guess I should have bought the silver '74 in Atlanta. From $34k to $60k overnight? I know the market is soft, but I never would have dreamed of such an quick flip / increase.

Where is the best place for me to post what I am looking for?

I'm definitely getting the feeling that "I'm not worthy"!

quote:

From $34k to $60k overnight?

You can put ANY price on something.

What it SELLS for determines its value.

Let's wait and see what, if, it sells for.

Larry

quote:

What it SELLS for determines its value.

Let's wait and see what, if, it sells for.

Agreed. I guess my point was that it takes another very good example off of the immediate market. I'm sure there will be more, its just a painful process to find the right one at the right price.

I've heard the dealer that picked them up has a good reputation, but - no offense - I hope they choke on it.

Why did you not go after that car?
If I was in the market I would made a bid on that one for the price with no reserve.
That was a great deal not to go after.
Tom

Honestly - stupidity. I did speak with the owner, but did not have time to view the car. Based on his description, I thought the car would have gone in the low $40's. Once it sold - I was sick. Once I saw it relisted - I was really sick (and mad). My own fault completely.

Since this is my first one, I guess that I was being overly cautious.

inhotwatter,

try not to beat yourself up over it. some people will tell you not to buy the first car that you look at. I think it is important to make a list of what you want, what you can afford, and then go from there. I did that and it narrowed my searching down a lot. I bought the first car I looked at and have been happy ever since.....

The right car for you is out there....it just has to find you!

John

When I miss an e-bay auction (forgot to go in at the last minute to bid, or get outbid by $2 or the like), I tell myself that the other bidder probably had a much higher maximum set, so to actually win it, I would have had to bid well over my max.
Tell yourself that it probably would have been bid up to $45K if you'd jumped in. It's cold comfort, but it's better than beating yourself up.
On the plus side, with what seems to be a depression of prices in today's economy, if you bide your time, you'll probably find an even better deal comes along.

quote:

Originally posted by inhotwatter:

quote:

What it SELLS for determines its value.

Let's wait and see what, if, it sells for.

Agreed. I guess my point was that it takes another very good example off of the immediate market. I'm sure there will be more, its just a painful process to find the right one at the right price.

I've heard the dealer that picked them up has a good reputation, but - no offense - I hope they choke on it.

For a good dealer, who has EARNED a good reputation in a business where that's more than a little difficult, it certainly is offensive to 'hope they choke on it'.

Your car has just not surfaced yet. It will. No need to wish another ill will for getting you one car closer to your goal.

quote:

Originally posted by new&slow:
I thought that car was given away on Ebay based on the price.
It should have been $10 grand more.
Someone else also thought so.
Tom

With about 4 hours to go, the car is still about $3200 short of its last eBay selling price.

http://cgi.ebay.com/ebaymotors/Cars-Trucks___1974-DeTom...C39%3A1%7C240%3A1318

For a good dealer, who has EARNED a good reputation in a business where that's more than a little difficult, it certainly is offensive to 'hope they choke on it'.

Your car has just not surfaced yet. It will. No need to wish another ill will for getting you one car closer to your goal.[/QUOTE]

Offensive? No more offensive than them buying it and marking it up $26k overnight - literally overnight. As I stated it was my fault for not buying it - I take full responsibility for that. On the other hand, $26k is more than just a tidy profit by anyone's standards on a $33k purchase. My bet is that they will sit on the car until someone from Europe buys it due to the dollar being down again. I'm not angry at them, but if they had bought it and turned around and listed it for say - $45k, I wouldn't have been nearly as cross-eyed as I am.

quote:

Originally posted by inhotwatter:
For a good dealer, who has EARNED a good reputation in a business where that's more than a little difficult, it certainly is offensive to 'hope they choke on it'.

Your car has just not surfaced yet. It will. No need to wish another ill will for getting you one car closer to your goal.

Offensive? No more offensive than them buying it and marking it up $26k overnight - literally overnight. As I stated it was my fault for not buying it - I take full responsibility for that. On the other hand, $26k is more than just a tidy profit by anyone's standards on a $33k purchase. My bet is that they will sit on the car until someone from Europe buys it due to the dollar being down again. I'm not angry at them, but if they had bought it and turned around and listed it for say - $45k, I wouldn't have been nearly as cross-eyed as I am.[/QUOTE]

Inhotwatter,

Right now, the dealer does not have a deal at a $26K markup.

They do not have a deal at a $16K markup.

Alas, they do not have a deal at a $6K markup.

The best bid they got relisting the car on eBay is for $4K less then they paid for it last week.

If you think the car is worth in the low to mid $40K range, call them up and offer to let them make a $3K profit. That should put your buying price around $37K, or so.

You will get the car for less then $40K and the dealer will make a small, but quick profit in one week.

You and the dealer will both be happy.

Just my $.02.

Only hit $26,100 on second time through Ebay

It is a good time to buy a Pantera, but not a good time to sell one.

Being as I am in the car business, I think the dealer that owns the car should accept an offer for what they are in the car and be done with it.

Or, if they have reasonable cash reserves, they can sit on the car until springtime hits and/or the recession is over.

I tried buying the silver one directly from Mershons, however, they wouldn't look at anything below $50k and it would have likely taken in the low to mid $50's to buy it. A very nice car indeed, but just above what I was willing to pay for it in this market.

I do have a couple of very good prospects and I anticpate one of them working out.

You guys know the market much better than me, but I was afraid that I had missed my chance to buy one of these beauties at a somewhat reasonable price. While the market down turn is a horrible time to sell, the prices appear to have come down enough for me to jump in.

Inhotwatter,

If you have not spoken to the selling dealer within the last 48 hours, I would give them a call.

They just might take your offer.

Good luck!