Under the hammer: De Tomaso Pantera

RM Auctions is selling a rally-spec Pantera without reserve next week; what else is out there?

So, we've moved from one underrated Italian classic to another. Last week I was salivating at the prospect of finding a cheap Maserati Biturbo, and this week, I'm getting misty-eyed at the De Tomaso Pantera. I know what you're thinking - I'm taking my leave of my senses... Perhaps, but if you're brave, and don't stand too much on ceremony, a Pantera will dole out lashings of white-knuckle fun, and will get you into all the smartest events, for a fraction of the cost of a comparable Ferrari or Lamborghini.

Not exactly a conventional rally car...

But conventional wisdom says that they are cheap for a reason. The know-alls will tell you they're flawed dynamically, rusty, unreliable, and have brutish American V8 power instead of the more sophisticated Italian alternative. And that Elvis Presley shot his. All of these things may be true to one degree or another, but I love them, and think that the De Tomaso Pantera is set to take a value hike sooner rather than later, as buyers looking for some '70s supercar cool latch on to it.

Before I go into the nitty gritty, the reason for my Pantera lust was catching sight of this bonkers 1973 car that's been prepared for historic rallying - to FIA specification - that's up for sale at RM Auctions' Monaco sale on 10 May for an estimated 50,000-70,000 euros. And it's being sold without reserve.

You might think that the Pantera's an odd choice to take to gravel - and in truth, I also think it's so silly it's beyond reason - but given that it's following in the footsteps of its contemporary rival, the Ferrari 308GTB Group 4, as a rallying supercar, then there's a chance it might work. Perhaps.

Estimate is just 50-70,000 euros

Aside from looking too damned cool for school, the De Tomaso rally could go well in tarmac events - it's certainly fast enough. It doesn't appear to have too much done to it over the 'standard' (ha!) Pantera Group 4, so you get a tuned Cleveland V8, full roll cage, Sparco racing seats, and, er, that's about it. But most importantly, with that FIA paperwork, this Pantera will get you onto some pretty serious events. It's already competed in the 2014 Monte Carlo Historic Rally.

And if it goes for the price that RM anticipates - and I suspect it's a tad on the low side - that's a hell of a lot of car for the money. Yes, the Pantera might not have a thoroughbred engine that you'd find in a Ferrari or Lamborghini, but in all other senses, it's a proper Italian supercar. So forget the 'mongrel' jibes, as the Pantera looks, feels, and drives like a supercar of the '70s - and it shouldn't be long before it's priced like one.

Not exactly pure, but this sold for £19K

Its predecessor, the Mangusta, used to be a relative bargain, with similar prices to this Pantera, up to about six or seven years ago. And now, they're a £200,000-plus car, and rising fast. Okay, so there were 401 Mangustas built compared with 7,260 Panteras that rolled out of Italy, but the younger car lived a lot longer, and in its own way was just as infamous as its super-lairy and near-incomparably beautiful predecessor. They don't go under the hammer very often, and when they do, they tend to go for bargain money in the heat of the auction room.

All of which means that they can be had for much cheaper than our cool rallying version, if you don't want to go down the PH Classifieds route. Last September, and perhaps more indicative of how much of a bargain these cars can be, Dorset Vintage and Classic Auctions hammered out a 1973 example with less than 20,000 miles on the clock for, wait for it, £18,700. Okay, so that car was a bit of a lash-up, with a Chevrolet V8 residing where its Ford should be, and the appealing unadorned 1973 bodywork 'upgraded' with later-style wide arches - but it's still a Pantera, and has just as much road presence as a P7-shod Lamborghini Countach.

More original, yet still under £30K

Early ones - the cars that should be worth the most in years to come - can also be had for bargain prices. A LHD 1973 car, originally registered in Italy, looking totally original, and with around 30,000 miles on the clock was sold by Silverstone Auctions for £26,500 in 2011. That sort of money won't get you near a nice Ferrari 308 GTB these days, and might get you into a (much slower) Lamborghini Urraco... if you're lucky. Are these cars starting to make sense now?

Finally, remember that the usual rules don't apply for supercars of this age. It's unlikely you'll find one that hasn't had major work done on its body - so the old rust jibes shouldn't apply, if the car's been looked after properly. And let's be honest, after your buys one, no matter how troublesome it proves, and how often it leaves you in the lurch, or scares you silly, you can still smile, safe in the knowledge that its value's only going to go one way, and that you own a proper old-school underrated supercar. And its name is Pantera.

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burwoodman

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