Recent Pantera Values

First off, I'm sorry to hear that gorgeous car with all your incredible work is for sale. But you've already made that heavy decision, so time for action.

Here are 3 ways to position your car very unique car...

1. The Replacement angle - In your ad/listing, tell them what it'd cost them to duplicate what you've done. Time, dollars, the original car, etc all add up. Price your car beneath that and it becomes more of a value.

2. The competitive angle - In the ad/listing, mention other cars of similar performance, looks, rarity. Push the exclusiveness of the wide-body club in this performance league, and that other cars don't measure up, even though they cost 'x'. 'X' is more than your car priced at 'y'.

3. The 'where are you going to find another one' angle. Mention how few are out there, how few in this condition, how few are as newly completed, how this unusual opportunity - if not taken - isn't likely to repeat. You looked for 'x' years and have been to 'y' shows, never seen another.

You can of course use a combination of any of the above to make your point. You really DON'T have much competition, so you need to make your points loudly.

As always, supporting documentation helps. Receipts, photos before/during/after, other sales figures, dyno results, ETs, anything that supports your case is good. Leaving it to their imagination is bad.

There are a few sales of late that have actually been quite favorable.

Best wishes with it Robert.

Thanks for the advice. I haven't put it up for sale yet, mostly because I am baffled at what it would be worth. The value, of course, is one of the things that will allow me to know if selling is worth the sacrifice.

Selling is a last resort, but we are getting close enough that I am starting to think about it.

This town is dead, everyone is cutting their marketing budgets, lots of businesses are closing (we have lost two credit unions and a commercial concrete client) and we would have closed our doors if we didn't start doing web design for out of state clients. Thank goodness I hustled that up.

One thing that I've found useful when selling vintage cars is the statement "everything works". Some people are afraid to buy vintage cars because of the potential repairs needed from day one, and rightfully so. But I sell cars that start every time, don't get hot, every switch works etc.. It gives the buyer confidence, and you can get a premium for it.

Of course it requires that everything works, even A/C. If a single thing doesn't work, mention it, I know you don't want to oversell...

Or even better, include the model in the picture, that should sell it...

Robert, having tried to sell a car in todays market I can say with certainty, it is a crazy one. Since you are web savy, the single best thing you can do is make a web site, load every single Pantera picture you have up on it, because belive it or not, 90 percent of the people who contact you want you to email them more and more pictures. Not because they are realy interseted in buying the car, but because they have an extensive Pantera Porn collection and want somethine new to masterbate to. Hard to belive but it is true.
Next, and this is important, decide what you must have for the car in regaurd to price. Then your asking price should be $20K above that. Becuase a lot of the buyers don't care about the car as much as they care about the "deal they made". They fantasize about sitting around at a party bragging about how they got something for nothing. Such a deal such a deal. They are only buying because of hard financial times and they won't buy unless it is a bargin.
Also do not even bother to contact the well known car dealers that you see in magazines unless you get desperate and need the money overnight. THey stay in business by buying low and selling high. Think of them as a title loan company. Be prepared to deal with a lot of rude and insulting people who think they are more of an expert than you are and that you should beg them to buy your car. It will not be a pleasant experiance, it can be pretty madding in fact. If you are serious, do not need the money desperatly just yet, I would highly recommend you consign it with PI. If I could afford to get my car out there I would have done it in a heartbeat. You get the best price, but best of all, you don't have to deal with countless assholes who think your time is worth nothing.

quote:

Be prepared to deal with a lot of rude and insulting people who think they are more of an expert than you are

Yes, that's funny, some people seem to call you up only to try to convince you that they know more about your car for sale than you do. What a sad life they must have...

RobertVegas,

A Hudson did a great job outlining suggestions on selling your car. I bought my Pantera last October, and all the things that A Hudson mentioned were things that were important to me as a buyer. Also, I thought No Quarter made a very important comment by suggesting you say "Everything works". This was my first time buying an older vintage car and it helps a lot for the potential buyer to read that the car is in perfect working order. However, I respectfully disagree with DeTom when he suggested that you list your car for 20k more than you actually want for it. Price it too far above the true market value, and you will lose a lot of potential buyers who will simply skip over your ad and dismiss it as being excessively overpriced. But I do agree with DeTom in spirit. You should ask a little bit more than you are willing to accept because every buyer wants to negotiate a lower price and feel as though they got a good deal on their purchase.

As a frame of reference for pricing, I bought a wide body Pantera just 5 months ago. I paid 80k for a 1988 GT5-S Amerisport. It was in excellent condition and it has an expensive all aluminum fontana engine with almost no miles on it. The car had only 10k original miles. No rust. Near show condition. I flew across the country to take a look at this car. I tried to negotiate the price down. The seller wouldn't budge even one penny on his asking price. I thought to myself that it would probably be quite a long time until I saw another wide body GT5-S that was in this good condition, given there are only about 50 of these cars in the USA. So I decided to put my ego aside and do the pragmatic thing, and just pay the asking price.

Don't know any details about your car, but if someone is specifically looking for a wide body, these cars are few and far between. The potential buyer who is looking for a wide body has to be considering that if he doesn't buy your car, it could be a long wait until another pops up on the market, and who knows what condition the next one will be. The fact that you apparently have a beautiful wide body with a lot of work done to it has to help that much more, so that should work in your favor. Of course it works both ways. While there are very few wide body Panteras out there, the market of buyers looking for 25-40 yr old cars is very small too.

As for the suggestion that someone made of letting P.I. Motorsports sell your car, you may want to seriously consider that. P.I. Motorsports is only a few hours from where you live. Of course they will get a fee or commission if they sell your car (they have a business to run too), but then again that may be offset by them getting a better selling price for your car than you would get on your own. Also, I understand they have a strong reputation with the European market too. So you'll be getting lots of exposure on your car if you have them sell it for you.

I've read Las Vegas has suffered worse economic times than pretty much any other area in the nation. So I understand what you must be going through. Hopefully slowly but surely things will begin to improve.

Good luck on your car.

David

quote:

Originally posted by No Quarter:
Of course it requires that everything works, even A/C. If a single thing doesn't work, mention it, I know you don't want to oversell...

Or even better, include the model in the picture, that should sell it...

I would need to fix a couple of little things. And the AC works, it just needs a recharge. And by that I mean the fittings leak and need to be replaced so that it blows cold more than a day. I have plenty of shots of my car with models…but no actual models to throw into the deal. Damn.

quote:

Originally posted by DeTom:
Since you are web savy, the single best thing you can do is make a web site, load every single Pantera picture you have up on it.

Next, and this is important, decide what you must have for the car in regaurd to price. Then your asking price should be $20K above that.

I would highly recommend you consign it with PI.

Solid advice. I own a design firm that does websites and plenty of pictures. I thought about doing one for the car anyway. Hard for me to do personal websites though. It just feels like work. But I would do it to help sell the car.

I would need to pocket some significant cash to consider selling my car. I think $20K above what I “need” is well within market. That would be around $40K, but I can’t imagine selling for that little. Delusional?

I love Dave, and would have no problem placing it with PI. I bought this car from a guy that bought it from PI.

quote:

Originally posted by adoberetreat:
However, I respectfully disagree with DeTom when he suggested that you list your car for 20k more than you actually want for it. But I do agree with DeTom in spirit. You should ask a little bit more than you are willing to .

I paid 80k for a 1988 GT5-S Amerisport. It was in excellent condition and it has an expensive all aluminum fontana engine with almost no miles on it. The seller wouldn't budge even one penny on his asking price.

Don't know any details about your car, but if someone is specifically looking for a wide body, these cars are few and far between.

I've read Las Vegas has suffered worse economic times than pretty much any other area in the nation.

I understand DeTom’s point of view. It isn’t worth selling this car for what I “need”. Really I would only need around $20K, so I have plenty of room to decide what I would be willing to sell it for.

I am completely jealous that you got an S. I don’t blame the seller for being firm…where are you going to find another one? I agree that selling these cars is about timing. If someone is looking for a widebody with a non-traditional color, then I am in the running . A traditionalist probably wouldn’t be interested.

Vegas was hit harder than most by the housing bubble, AND then body slammed by the economic downturn. We have some of the highest, maybe THE highest foreclosure and unemployment rates. I will let my house go before my car. I am upside down $200K on my house, my car is actually worth something.

Not to hijack the thread. But this an example of Pantera market value.

Pulled this from the e-mail list.

http://www.sportscardigest.com...auction-2011-report/

The author's comments are sad.
Should be a 6 figure car IMHO.

Jeff

Thanks for the link,4134. This car is one of three known 1970s-era Panteras that are unrestored and pristine with just a few thousand original miles. I agree- worth at least 100K with some proper marketing, assuming everything checks out and is in good running order.

quote:

Vegas was hit harder than most by the housing bubble, AND then body slammed by the economic downturn. We have some of the highest, maybe THE highest foreclosure and unemployment rates. I will let my house go before my car. I am upside down $200K on my house, my car is actually worth something.

Dear Robert. It seems a real shame that you would have to sell your Pantera for need of $20K. Your car should be worth 70-85 range. Maybe, and I hate saying this because I know it sounds awefull, you should consider doing what a lot of people are doing right now. The nature of your work lets you perform it almost anywhere in the world that has access to high speed internet. There are apartment complexes now where that is just part of the rent. Just walk away from the house. Yes I know it sounds criminal, but a lot of people far less upside down than you are are doing it. Runi your credit rating? What good is a credit rating when they are not giving loans even to the best of credit ratings? Right now a credit rating is about as usefull as mud flaps for a Pantera.
I know you probably love Vegas even with all its downside, but you might consider moving to some place a little more economical?
Please man, I am not trying to tell you what to do, and I love you even though I never met you, just because of the way you post here. I am just throwing out other possibilities for your consideration. Also please take in to consideration the fact that I do not think we are in any type of "recovery". My view is we are living in post appocaliptic America.

I don't have time to enter this discussion, so this can turn into a debate on its own.

Advising someone to 'walk away' from an obligation to help himself while it hurts many others seems to me, a bit counter-productive.

Committment to the team? "No, I'll just quit." Marriage? "I can always get divorced." Mortgage? "I can always walk away." Seeds of the apocalypse.

And for a 20grand debt?

I imagine RobertVegas has way more respectable, creative, fulfilling, and encouraging options for raising 20grand.

No need to argue guys. My life is more complicated than just needing $20K.

There are a million details and variables, and I am just planning for the future. I don't want to give up anything, and I am just investigating the option of selling the car as it would put some cash in my pocket.

This isn't about what I owe. This is about having a contingency plan for losing another client (just lost a $5000k a month retainer in the most recent client constriction), or my wife losing her job, or my mother needing to move to Vegas for care, or my father's medical issues getting worse, or a lawsuit against me going the wrong way, or a hundred other things.

You will love the details of the lawsuit. A client went out of business and filed bankruptcy. The trustee is now suing me to get back all the money paid to me by the company during the 90 days leading up to the BK filing. About $25K. Can you believe it? They owe me money that I will never get, but they also want $25K back. I understand how the system works, but that doesn't mean I have the money.

quote:

Originally posted by RobertVegas:
Can you believe it? They owe me money that I will never get, but they also want $25K back.

Robert,

I admire the boy scout in you ("Be Prepared") and sincerely hope you don't have any of those situations head south on you. I feel your pain, however. We recently got stiffed by a client who was also a supplier and I was owed approximately 5X what I owed them but still had to pay my bills to the trustee. It hurt writing the cheque especially because the company knew they were never going to pay for their last order and made it a good one.

I'm sure that DeTom is speaking out of frustration with his suggestion, but that ball continues to roll downhill once it is started. "A" doesn't pay his debts to "B" who then can't pay their debts to "C", and so on. It's not "post-appocalyptic America", it is PRE-APPOCALYPITIC America.

Good luck with your situation Robert (and DeTom), we are all hoping for the best for you.

Mark

As was said, this is a truly bad time to have to sell a car or anything else for that matter. People are holding on to their money for the uncertain future and those who are willing to part with it are looking for the "fire sale" deals. The Japan disaster has made the world economy even more unstable.

What De Tom says is correct as far as many people out there are scamming for collection pictures. I agree with him to just create a web site with pictures as it will save you time.

As far as the value of the car? Anything is worth as much as someone is willing to pay for it. So it depends if you can find someone that has the money and wants your car. I'd ask high and work my way down on serious offers.

Good Luck!

quote:

I'm sure that DeTom is speaking out of frustration with his suggestion, but that ball continues to roll downhill once it is started. "A" doesn't pay his debts to "B" who then can't pay their debts to "C", and so on. It's not "post-appocalyptic America", it is PRE-APPOCALYPITIC America.

This reaction is why I was hesitant to tell Robert what I was thinking, because yes it is ditastfull to me also. I too have been stiffed by a client who paid nothing for three months of work I performed, who himself turned around and got paid for whjat I did. But that is not why I advocated walking away. What obligation do you owe to someone who does not honour their obligations? So it is ok for a major corporation or a government to renig on a contract but an individual must honor their obligation to that same corporation or government? No, I am sorry, that is not the way I read Hobb's Leviatan. Obligations go both ways. Contracts must be honored by both parties. When one party renigs, the contract is no longer enforceable. For civilization to exist rules must be followed. When the leaders decide the they no longer wish to follow the rules, the game is over as the followers are now left without an enfoceable contract.
So yes, it is Post-apocaliptic, in that basis for civilization is broken, it is just the killing hasn't started yet. It will. It is inevitable. Don't buy gold, buy lead!

Things got serious in a hurry in this thread!

To quote my dad: I'm doin' the best I can, with what I got.

The days of worrying about the globe, or even the nation are dwindling for me. The problems are localized enough that I need to worry about my family. I used to love debating issues like the ones above, but now my energy is focused on bringing in new money, and spending less of it. Period.

I did enjoy the "don't buy gold, by lead" line.

quote:

Originally posted by RobertVegas:
Things got serious in a hurry in this thread!

To quote my dad: I'm doin' the best I can, with what I got.

The days of worrying about the globe, or even the nation are dwindling for me. The problems are localized enough that I need to worry about my family. I used to love debating issues like the ones above, but now my energy is focused on bringing in new money, and spending less of it. Period.

Good for you. The lesson taught by your example to your family is worth more, pays more dividends, than all the shredded loans combined.

Anyway, here's a dumb idea that you've doubtless considered: Consign car with dealer, showing bank as secured lienholder up to $20k.

You earn the 20k, pay off the bank get the car back. OR they sell the car for what you really want, (or "acceptable") and pay off the bank, keep the rest.

Got a website sample or two to show (link) here to potential prospects, who are car sympathizers AND on your side?

quote:

Originally posted by A Hudson

Got a website sample or two to show (link) here to potential prospects, who are car sympathizers AND on your side?

Are you talking about sites that we do for clients? Here is one we finished up last week, and it has cool car stuff:

http://www.dallasperformance.com/

Robert's car should bring $50-70K +/- on the market. We find that sales are really picking up in recent weeks. The Panteras were strong at the BJ Auction in Scottsdale.
We just sold a nice car in only 3 days. Most of our sales are still going overseas. US cars look attractive in terms of prices compared to Euro cars and shipping overseas is very reasonable.
If you sell your own car, be ready for a lot of tire-kickers and beware of those that want to drive your car or have you drive it, with them, a stranger riding shotgun.
We have customers who ship us their cars from out of state and even out of the country to sell. Please keep us in mind when it comes time to sell your special Pantera. Thanks, Dave

Hi Dave,

Totally agree with you. People overseas are realizing that restoring a rusty car is a loser. A LOT cheaper to purchase an undervalued (compared to other cars of the era) rust free Pantera and ship it to Asia or Western Europe.

Dave, do you think that prices should go up accordingly, if sales are this brisk; or is it car specific on the quality?

Mark

quote:

Originally posted by DeTom:

quote:

I will let my house go before my car. I am upside down $200K on my house, my car is actually worth something.

Just walk away from the house. Yes I know it sounds criminal, but a lot of people far less upside down than you are are doing it.

I read in the Las Vegas Review Journal (lvrj.com) that some short sellers or people who "walk away" have been 1099'd for the difference of what is owed on the house and what it sells for.

And this article just popped up today to help folks in that situation:

http://www.lvrj.com/business/f...suits-118899219.html

Most buyers are new to the hobby and these cars are impulse items to be sure. A car with eye appeal and something that may distinguish it may get the nod. The blue car we sold was modified in many ways but it had the appeal of being a one-owner car and was an attractive blue color. Robert's car will attract a willing buyer because of the wide body, high-impact color and oversize wheels to name a few of its assets.
The stock or more original cars seem to take the longest time to sell and this has nearly always been the case.
We don't see a lot of owners selling their cars right now, perhaps fearing taking a bath on prices. This scarcity is helping sales and the weak dollar.
Location is also a factor, if you are sitting in a remote area of the country, don't expect a Dutch tourist to just happen to be in the area.
We are bullish now, perhaps more than ever that Pantera prices are stabilizing and advancing.
Although there are voices in our Pantera community who seem to resent owners supposedly reaping profits on their cars, we all know that even the highest priced cars rarely return an owner's investment. Even the most modest Panteras can have 50-100K invested in them over time. However, look what a 308 is fetching these days.

Robert,

Like others I'll be sorry to see you sell the car... I'll sure miss the photo shoots! All good comments previously (the on topic ones) wrt selling avenues.

In terms of price, this may be your competition or a comparative.

http://fortmyers.craigslist.or.../cto/2216723682.html

The problem is (like the housing analogy) you will be competing against the fire sales so marketing is everything.

Good luck with everything and I sincerely hope you get straight soon.

Julian

quote:

Originally posted by Whiplash:
Robert's car should bring $50-70K +/- on the market. We find that sales are really picking up in recent weeks. The Panteras were strong at the BJ Auction in Scottsdale.
We just sold a nice car in only 3 days. Most of our sales are still going overseas. US cars look attractive in terms of prices compared to Euro cars and shipping overseas is very reasonable.
If you sell your own car, be ready for a lot of tire-kickers and beware of those that want to drive your car or have you drive it, with them, a stranger riding shotgun.
We have customers who ship us their cars from out of state and even out of the country to sell. Please keep us in mind when it comes time to sell your special Pantera. Thanks, Dave

PI sold my old '72 Pantera for me, and it was an effortless transaction for me. I think a lot of Euro-buyers look at their website as it is a recognized name in the market. Keep in mind that although many European countries are suffering as much or more than the US, the Euro has been getting stronger over the past few months which makes US Panteras ever more attractive.

Could you imagine going shopping for cars with SuperDollars, which gave you a 40% discount on what you are buying? A $40,000 car only costs you $24,000 with your magic dollars. Cars that might be priced a little high for the US market are rather reasonable if you are paying with Euros due to the exchange rate.

Good rule of thumb that I have always seen with almost any well restored car is that you end up getting close to 1/2 to 3/4 (if lucky) of the appraisal price. I am looking at some 66 & 67 Nova's around $140K appraisal, and asking is around 1/2, which is typical. Just get a good appraisal and publish it with the sale.

Hi Jan,

I would say it depends on what kind of appraisal you have, and who gave the appraisal. If it is a current appraisal for insurance purposes, then yes, I can understand that. But if it is a current appraisal for like kind sales, then that would make a difference as well (probably not half of appraisal at that point). I would agree that the argument at this point becomes, how many (take your pick, GT5-S, Group 4, or GT5 cars with known sales are there....) of these cars have comparable sales to compare to......

Have fun,

Mark

quote:

Originally posted by DeMopuar:
Hi Jan,

I would say it depends on what kind of appraisal you have, and who gave the appraisal. If it is a current appraisal for insurance purposes, then yes, I can understand that. But if it is a current appraisal for like kind sales, then that would make a difference as well (probably not half of appraisal at that point). I would agree that the argument at this point becomes, how many (take your pick, GT5-S, Group 4, or GT5 cars with known sales are there....) of these cars have comparable sales to compare to......

Have fun,

Mark

I always go with a good collector car appraiser who computes the cars value based on what is into it, and then they can include comparrable sales too. With our cars the comparrison sales is a little more difficult, but value into the car is usually calculated pretty solid.

A big thanks to EVERYONE on this thread. I would thank people individually, except there is no need to single people out...every post has been a help to me.

Kerry, thanks for that link in the RJ. You would think I would have seen that before you.

Dave, if I decide to sell, it will most likely come to you rather than me trying to sell it myself. I honestly don't know what the hell I am doing. I tell people every day to use professionals...I would be an idiot to not follow my own advice.

I know I probably could do it myself, but I will admit I don't know these cars like many of you do.

quote:

Originally posted by RobertVegas:
A big thanks to EVERYONE on this thread. I would thank people individually, except there is no need to single people out...every post has been a help to me.

Kerry, thanks for that link in the RJ. You would think I would have seen that before you.

Dave, if I decide to sell, it will most likely come to you rather than me trying to sell it myself. I honestly don't know what the hell I am doing. I tell people every day to use professionals...I would be an idiot to not follow my own advice.

I know I probably could do it myself, but I will admit I don't know these cars like many of you do.

I wish you the best of luck Robert.

My spouse has lots of family in Las Vegas. Some are retired and others work at Vdara, Golden Nugget and Aladdin.

So, I like to keep up with the goings on in your town.

I was watching Barret Jackson this morning as it came on after a couple other car shows and saw a winged narrow body Pantera sell at no reserve for $35k with only a few bids.

I haven't looked at the detail on the car but it had what looked to be a high $ paint job, elephant ears, probably many other updates. Though the announcers didn't really dog the car, they did bang on about the dangers of modifying cars and whether or not the mods would suit the next buyer just as it gaveled at $35k! They sure weren't popping off that way when all the other street and retso-mods were rolling across the stage. ?

Someone took a complete bath on that sale, especially after paying the BS BJ fees. I would never consider selling a Pantera no reserve at BJ. I've never been to a BJ auction and maybe it's just the TV coverage, but to me, BJ appears to be where people pay stupid money for big paper weights. A seller's venue for sure.

But then again, if PCars sell at discount, maybe you can be opportunistic.

The auction was Lot # 6321 (Palm Beach I think?)

Not sure I'd fit in at a BJ auction. Just dont have any interest in claims of nut and bolt originality from people that pay big dollars for cars that dont get driven.

Best,
K

The BJ and other auctions used to be where the sellers got ridiculous prices and drove up the car prices. The tables have turned and for the most part it is now a buyers dream. I attended the last Las Vegas BJ auction and there were deals to be had. A common comment that I heard there was "they stole that car".

I have been to the Barrett Jackson sale in Scottsdale a couple of times in the last 10 years. Their whole claim to fame was NO RESERVE, with the thought that this would bring the buyers into their tent.

Well, I believe the Palm Beach sale was one of the first Reserve (if you paid for the privilege) auction that Barrett Jackson has put on in quite some time. They also offered NO RESERVE cars at this sale, but you could pay for a Reserve if you wanted. Barrett Jackson is going back to reserves because people with nice cars are not interested in putting their cars in solely no reserve sales. I know I wouldn't do that. Why do you think Gooding & Company and RM are the ones selling the million dollar cars? Yes, they are offering Reserves to the owners if that's what they want to do with their car. If you look at the last decade, the other auction houses have done very well compared to Barrett Jackson, and I attribute that solely to letting owners use a reserve if they wish.

If you've ever been to Scottsdale in January, you really need to go to Gooding & Company, as well as RM -- the cars are nicer; a lot nicer, than the ones at Barrett Jackson. I would have to say that there are a handful of nice cars at Barrett Jackson. But with a no reserve auction, the quality of the cars has suffered in recent years as people know they won't get great sales, so a lot of times cars are built especially with the no reserve format in mind -- not the best way to restore a car; corners are always cut and the quality ultimately suffers. I cannot speak to the Russo and Steele sale as I have not been to that one. Judging from the auction results, looks like the sale is worth taking a look. All I know is from the 2010 sale, Gooding sold 8 of the top 10 sales of that year. RM had the other two. That tells you something right there.

Cheers,

Mark

quote:

The BJ and other auctions used to be where the sellers got ridiculous prices and drove up the car prices. The tables have turned and for the most part it is now a buyers dream. I attended the last Las Vegas BJ auction and there were deals to be had. A common comment that I heard there was "they stole that car".

I'd respectfully disagree with that. I think the change in prices is purely a reflection of the market, not BJ. The "Steals" are available everywhere and more so in the private market and BJ and such auctions are still sellers venues that command premium prices, even in a depressed market. They still represent the gross minority of sales and thinking they are representative of the broader market as far as price bench marks is just media driven perception. The reduction in sell price is representative of market condition. I just cant agree these events are a buyers dream from a deal/value perspective. From the perspective of having a lot of cars for sale in one place, yes. I am interested in what happens at the rest of the auction that doesn't make the TV coverage. I'd imagine it's biased toward the higher sales.

quote:

Originally posted by DeMopuar: Barrett Jackson is going back to reserves because people with nice cars are not interested in putting their cars in solely no reserve sales. Mark

I think you'r right on there. Market prices are down so why would someone with a nice car want to sell now at an uncontrolled no-reserve price? Thus, reserve auctions being offered by BJ to try to bring the more sellers to their event and get the total sales back up.

As with everything, there are exceptions. Seller's venue or not, I still stand by my statement that Panteras have not fared well at these (and like) events and they are not the best venue to sell a PCar. They (like others) are simply a less recognized marque and trade better within the circles that covet them.

Best,
K