1981 DeLorean DMC-12

This 1981 DeLorean DMC-12 sold for $26,804 on eBay Motors (item 2491195972), on October 4, 2004.
I’m not really the type for bell-bottoms and long sideburns, but I did want to have a fling with a DeLorean. Once my curiosity had been satisfied, however, it was time to move it on-hence this sale. But I’m getting ahead of myself here.
In the late 1970s, flamboyant former GM executive John Z. DeLorean-known for the success of his Wide Track Pontiacs-set out to build the perfect sports car, with plans to sell it for just $12,000 (thus the nomenclature “DMC-12”). Enlisting the help of Lotus for engineering and Giorgio Guigiaro for the design, DeLorean looked primed for success. He had towns, states, counties, municipalities and even countries pining for his manufacturing plant, with Northern Ireland emerging as the successful suitor. This was thanks to over $130 million in loans and tax breaks provided by the British government.
Somewhere along the line, however, things went astray. Blame can be placed on the anemic 130-hp Peugeot-Renault-Volvo (PRV) V6, or if you prefer, on the poor build quality. A lack of enthusiastic throttle response left the automotive press with few good things to say, and as the list price soared to almost three times the initial promise, the DMC-12 was a tough sell. The cars were built as 1981 and 1982 models, though some were titled as 1983s. After the company went bankrupt, more cars were assembled out of parts, leaving the exact build number something of a controversy. DeLorean went to great lengths to try and rescue his dream, and wound up involved in a cocaine deal that turned out to be an FBI sting.
The DMC-12 itself had a striking appearance, with gullwing doors and a stainless steel finish. Your choices were limited to automatic or five-speed, and gray or black leather interior, as all DeLoreans left the factory fully equipped. The V6 was mounted in the rear, with 15-inch rear wheels that were an inch larger in diameter than in front, to help compensate for oversteer. At about 2,700 pounds, the car could achieve 60 mph in under eight seconds.
Of course, the DMC-12’s greatest and most enduring claim to fame was its starring role opposite Michael J. Fox in Robert Zemeckis’ “Back to the Future”, the box office hit of 1985. Though this publicity was too late in coming to save the company, it has caused the DeLorean to be remembered fondly by no shortage of car nuts who were kids at the time.
With winter fast approaching and owning more cars than I could justify to my accountant, I decided it was time to part with my DeLorean DMC-12 this past September. It wasn’t too hard to decide to list it on eBay Motors, as the online auction house makes it easy for the world to empty its houses of all the unneeded, unwanted and unloved goods, doubtless the most significant advance in retailing since Mr. Sears and Mr. Roebuck decided to start a catalog. Though I also employed other sales methods, none worked as quickly as my 10-day auction.
I had a few specific goals for my sale. Of course I wanted the car to sell-and I hoped it would make big money. But I also wanted to represent the car as accurately as possible, using both words and pictures. I wanted to set my car apart from the hundreds of other DeLoreans I see advertised for sale, in this case, because of its originality. Where many sellers are touting the value-add of upgrades and improvements they have performed on their DeLoreans, I feel strongly that original cars, warts and all, will be the ones to have in the near future.
Before you write your letters, know that I understand many of the upgrades offered by the DeLorean parts and service depots make the car much more usable and drivable on an everyday basis. But I’m an unabashed purist, and I not only admit it, but I will point to the larger market as evidence that my way of thinking tends to bear fruit. Remember all the Corvette owners who spent lots of money “improving” their cars or updating the look, doing such unconscionable things as removing the split window in a ’63 coupe? Many a restorer has cursed the earlier owner for these “updates,” spending untold time and money searching out the production correct original. I feel the same principle applies here.
So I trumpeted the fact that my car still had its original tires and its original (and lousy) AM/FM/cassette radio. My car also benefited from a well-documented and unique history and extremely low miles-for which I paid the price in repairs. The result was nearly $27k in very active bidding up until the last second. The buyer and under-bidder were both gentlemen. I received an immediate note from the under-bidder stating that he would still be interested in the car if the buyer did not perform. But that was not a problem, as funds were wired to me within hours after the sale.
The new owner is planning on using his DeLorean for around-town transportation, as he has an airplane for longer jaunts. The SCM Price Guide lists DMC-12s between $15,000 and $25,000, so he paid a bit of a premium, but for such a low-miles car, I’d call this a fair price. I believe that the power of the DeLorean story, combined in no small way with the power of the “Back to the Future” movies, will help propel excellent cars up the appreciation curve, flux capacitor or not.