[DML] Re: over Valuing

["Michael DeLuca" <mdeluca@xxxx>]

I started shopping for my Delorean last year at this time.
I looked at about a dozen cars over a 4 month time frame.
I felt at the time I started shopping that $15k for a Delorean
was a good deal if the car was good, I felt that the cars were at or
approaching the bottom of the deprecation curve and should retain their
value. 
Steve Wynne told me and I knew he was right as soon as he said it.
To have a nice Delorean it's going to cost you $25k, you can either buy
one from me at that cost or you can buy one for around 15k and put 10k 
into it. Steve said I don't care how you do it because I sell the parts
in either case. When Steve found out I live on Long Island he told me
don't buy any Delorean without having Rob Grady look at it, Right again
Steve! Rob Grady stopped me from getting stuck with not one but Two
Deals that would have turned into classic Delorean horror stories. One
car was $10k and a rotted frame and the other one was a deal of a
lifetime, asking price $15k but I had the guy down to a bargain price
of $6k.
The only problem with the $6k car is that it would cost another $18k
to make it into a $13k Delorean. 
Well I bought a really nice turbo D with the help of Rob Grady for just
under $15k put $5k into it so far and will put another 5K into it the
next year or two. Thus Steve knows his stuff (as we all know).

1. A Delorean is not an investment, you buy one because you love the
car.
2. Deloreans have held their value as well or better then their counter
parts of the same era,
I have an 82 collector's addition Corvette aprox. 7595 made, sold
new for about $22k avg. sell price today for a nice one 8-12k. 
3. Just because you dump money into your Delorean doesn't mean that you
will get it back or it will make the car worth more money . If you
have a turbo installed in your $15k D it will probably cost you
$5-6k by the time you're done and I'm sure most people would say
the car is not worth $20k now.
Note: this is also true with your house (usually a better
investment then a car). You can do a $100k renovation on your house
and the house may only be worth $30k more.
4. Who ever said that the difference between a $15k and a $20k Delorean
is $10k couldn't be more correct. 
5. I don't think any car in the $15k price range will be as exotic,
unique, recognized or special as Delorean and I'm very proud and
lucky to own one! 

Mike D.
Vin 3113
NY Lic. DLORIANN