If you do not PvP, and if you do not or can in no way get 120 PS for the dread, It will stay in the stable indefinitely wasting stable slot space. For no reason other than take him/her out of stable on occasion to impress others with the puff of useless smoke with "trick". I.e. it is otherwise a collectible.
Collectibles can cost many plats. This is one of them. This collectible is now usually worth about 1 plat UNTRAINED.
So if you need the gold, and the above arguments are true, and you have no emotional investment in it: I would sell for 1 Plat or so to finance my UO gaming experience. 1 Plat would take Loooooong years to accumulate legally esp. for new characters, since you'll need to do Roof and high end content and then be lucky enough to sell your Cameos etc for decent price on Atl etc.
For some people it is easier to make 1 Plat than others. Esp. if UO is main occupation..But..
On the other hand if you already have a bankroll of 10-100 Plats, then it a different story.