[DML] The Mike S. Theory of DeLorean Prices

[Mike Substelny <msubstel@xxxx>]

In a shameless generalization, I described the large population of early
80's investment buyers now trying to sell their DeLoreans as "clueless
about the car."

Wayne responded:

> Sounds like the first D I saw for sale. Owned by a doctor. He
> knew NOTHING about the car. Started it up for me, which
> was a miracle... and probably the worst thing to do for it. He
> had spent NOTHING on it. Probably never even changed to oil.
> Wanted $18,000!

Frankly, this is the reason I am unlikely to buy a $30,000 DeLorean from
a private owner, while I would confidently pay that much for a quality
DeLorean from P.J. Grady, DMC Houston, DeLorean One, DeLorean Motor
Center, Bauerle Automotive, DeLorean Services, or another seller that I
trust. The risk if buying a DeLorean from a stranger is too great,
especially when the stranger knows nothing about DeLoreans!

Hearing that a particular DeLorean is worth $25,000 from Stephen Wynn is
very different from hearing it from a seller who doesn't know enough to
install fresh door struts . . . for the very same car. Even if that
seller is extraordinarily honest I cannot trust his judgment about the
car.

I *would* trust the judgment of a few private individuals I have met
through the DOA and the DML (John Truscott, Bruce Benson, et. al.).
Unfortunately for us, the number of private owners with deep knowledge
about DeLoreans is much smaller than (for example) Porsche 911s. When I
was sports car shopping seven years ago I had a dozen savvy friends who
could help me find a quality Porsche or Corvette, but zero friends who
knew anything about DeLoreans.

Thus, my theory is that the selling price of all DeLoreans is directly
related to the distribution of knowledge about DeLoreans. Educated
buyers drive the selling prices down, while educated sellers drive
prices up.

Wayne's story is an example of this. Had the roles been reversed, with
the doctor as an active DOA member or DML subscriber, he might not have
been so foolish in his storage and maintenance. That car could have
been much more appealing to buyers, and he might have gotten his $18,000
price.


- Mike Substelny
VIN 1280, 7 years