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MarkV

Whats it worth? Horror story!

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So, I decided to put my Seville up for sale, it runs good and I have the reciepts, it is currently registered and smogged, mechanically it is a good car. It needs new paint and eventually a new interior. I have spare parts including the computer, throttle body, extra ac computers and controllers, tailights, signage, etc. So, I put it all up for sale for $1700. The car is probably worth 1400 or so+ the parts so, I figured $1700. So, yesterday a guy came by said my original $1900 was a good price and was going to buy and he could not get the parking. So, today, after I edited the ad to $1700. A guy in a brand new caddy comes up and looks at it turns it on, not even test drives it, and says, this, this and this are wrong with it (though I took it to a shop who has been in business for over 50 years and they said it was in good shape). Then he tried to offer me $1300!!!! I told him any decent running 10 year old car is worth that, and $1500 he bragged about going to Jay Leno's upholsterer and selling 2 cars to Leno, and how he has a house in Vegas and S. CA and how he is comped at 5 places for superbowl and has to choose between them. Anyway, I told him the price was firm $1700 he was like "call me if you want to reconsider" and I told him, NO, you call me when you check the information and let it percolate, and I told him he will get what he pays for, with mine he gets reciepts, and spare parts, might I say valuable ones (EFI computer is worth a few hundred alone) anyway, he told me he would call tomorrow morning. Have you had stories like this?

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Yes.

All the time.

Money talks, BS walks.

People like to hear themselves talk.

Just another tire kicker.

I had the same experience selling a friend's '67 Olds Toro.

Good luck,

Bill Boudway

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Actually it sounds par for the course. You probly ain't seen nuttin, yet..........Bob

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Happens all the time. I have even felt embarrassed because I was making a lower offer on a car that was already fairly priced. But I have some kind of mental block about just paying the asking price for a used car.

I will pay the asking price if it is fair, and the seller won't go lower. And I don't go around bragging about irrelevancies.

It sounds to me like the guy was just passing the time of day. He could have paid the extra $400 if he really wanted it.

Personally I have a dozen vehicles in the garage and driveway but if I bought every one I wanted to buy I would have 100. I have to struggle to not go around looking at cars.

So, maybe the guy was a bit of a douchebag. But he has a pretty common disease of wanting to buy old cars.

I see it all the time when I have a car to sell, if the person is halfway sensible I just let it roll off like duck water. And go on to the next idiot lol.

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Wes,

Sounds like "Mr. New Cadillac" is a wind-bag, looking for a "quick flip".

If you've got the time and are not pressed for space, sit back and wait.

If you're in a hurry to dump the car, then you're at the mercy of the marketplace...

(which stinks right now... it's a buyer's market. Few people have "mad money".)

Unfortunately, there are lots of "tire-kickers" out there; some are nice folks, some are bozos (see comment at top)...

I have to admit to being a "recovering" tire-kicker myself...

And I've had to let some darned good vehicles go for less than they were "worth"... most went to "good homes" though...

If you get a "bozo" on your doorstep, be firm on your price, and don't be shy about politely, but firmly letting them know "you have to go" if you feel they've taken enough of your time and are geting the sense that no deal is going to be made.

If they're serious, they'll talk turkey if not, they'll go away.

I have found it useful to let the vehicle speak for itself, be honest about what I have invested in it, and what I need to get out of it. Doesn't always get me my price, but it makes it easier to decline low-ball offers. I'm happy to take their name & number "and get back to them"...

Don't get worked-up if a buyer starts handing you a laundry list of "what's wrong with it"... you already know that.

Hang in there...

Edited by DeSoto Frank (see edit history)

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My favorites are the ones that right off the bat ask, "Will you take any less?" and they haven't seen so much as a photo of what it is you are selling. :mad: Right off the bat I reply, "No considering you haven't even seen it". :D

Edited by Shop Rat (see edit history)

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If he has 2 houses, sells cars to Leno, and gets free superbowl tickets, he should have no problem getting his hands on $1700. By the way, this is not a "horror story". This is what happens whenever tire kickers look at a car.

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In the 50s when I was a kid my dad had a car for sale; don't remember what it was exactly but it had to be a Ford as that is all he ever drove. A fellow called about it and came to look at it and I went outside with my dad when the man came. They talked a little, the man looked at the car, and finally he offered my dad less than the asking price.

My dad said "No thanks, my price is fair". Where upon the guy said something to the effect that he could buy them for what he was offering down the road all day long". My dad said "Fine, then go down the road and buy one". And we walked back in the house.

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I taught my daughter that you never know until you ask. No harm in trying. I am what I call myself, a wheeler dealer. I don't want to pay the asking price for anything, thats why they call it asking price. For me, it's a sport. I just love the local flea market/swap meet. People go there ready to wheel and deal. Fun for me. Who doesn't like coming home with a treasure you been looking for a while and getting a bargain is even better. Scratch and dent isn't bad either. Sometimes it's so fair a price you just can't offer anything less.

My folks would take Dads work car and dress in work around the house clothes and leave all the jewelry home and go out and bargain hunt. I feel bad pulling up in the Mercedes and asking for a better price. Something is wrong with that picture.

Stick to your guns. You know what it's worth to you.

Skip

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Just be thankful that you didn't list it on Craigslist and get spammed to death. I put a 1952 Studebaker 2 ton truck on there last week and got all types of spam including one guy telling me he wanted it for his daughter but thought the insurance quote he got was too high (with an invitation to visit the "site").

I too like to dicker but sometimes the deal is just too good to try and get cheaper. A recent example was the IH 200 pickup I will be getting in the next couple of weeks, it was priced below the scrap value.

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Just keep in mind that a lot of car owners think they have the Lost Dutchman Gold Mine, and a lot of car buyers want to buy the #1 condition car for the #6 parts car price. Somewhere in the middle the reality fairy is flying around.

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As a courtesy to the seller you should never readily agree to the price of a used car or part. Even if the price is way less than you had hoped, always make a lower offer and if the price is firm always agree to the sale reluctantly. This is a great courtesy to the seller and makes him feel good about the sale. If you jump on the sale, pay the asking price and act happy the buyer will feel like he screwed up and underpriced the goods. The best sale for all concerned is where they both feel they did the best they could............Bob

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Bob makes a very good point about the psychology of the sale. Indeed a "good deal" is largely mental- if the buyer thinks he got a good deal and the seller does too then life is good for both. Each person's need was met. And with old cars and other collectables that is what the real value of an item is; what the buyer will pay and what the seller will accept.

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Every car I ever bought, I paid more for it than anyone else would.

Every car I ever sold, I sold cheaper than anyone else would.

Do you want proof? OK if someone else offered them more would they have sold it to me? If someone else had one cheaper would they have bought mine?

There is no such thing as a "fair" price except by coincidence. It's all what someone wants to pay, that day, at that place.

I have seen guys with their "fair" price keep a car till it rots into the ground and is worth nothing. So now if I want rid of something I keep lowering the price until it goes. If I advertise something for a week or 2 and get no offers, I know it's too high. I may not think it's too high but I don't set the price.

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Yes.

All the time.

Money talks, BS walks.

People like to hear themselves talk.

Just another tire kicker.

I had the same experience selling a friend's '67 Olds Toro.

Good luck,

Bill Boudway

Hey! I bought that Toronado...

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Just keep in mind that a lot of car owners think they have the Lost Dutchman Gold Mine, and a lot of car buyers want to buy the #1 condition car for the #6 parts car price. Somewhere in the middle the reality fairy is flying around.

Pretty true...

I let out a guffaw over the "reality fairy"....

:D

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I agree with Rusty on setting a price and letting the market determine the real transactional price. If it does not sell in 2-3 weeks, then I lower the price and start the clock over again until it sells.

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And then folks there is the reverse horror story.

You put up a car for sale for $200. You tell the guy that calls about it that you aren't even sure if it will run. He doesn't care, he agrees to the price on the phone and then comes to see it. He wants it for parts and the parts he wants are in good shape.

Then my now ex-husband fires the car up. It smokes a bit but it hasn't been driven in months. It runs well enough that the guy can drive it home. He had planned to hook a chain to it and drag it home. But because it is smoking he tells my ex that he changed his mind he only wants to pay $100 for it. I had gone into the house to answer the phone, which was across the street from where the car was parked, so I didn't hear the new deal the guy was trying to get. As I am hanging up the phone I hear the car drive off. Joe comes back into the house with only $100. :eek:

Now you know why he is my ex. :D

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Two fun stories:

My good friend's father would often buy cars with a little something wrong, fix them up, and sell them for a profit. He once saw an early 60's Ford( this is in 1974) sedan for sale in someone's front yard. It was only $300.00 or so. The lady owner sain the transmission was bad. He looked over the car and found the trans fluid was low over 2 quarts. He had some in his trunk and added it and the car shifted fine. He told the lady he'd take it and she said"I'm not selling it now if the transmission is OK!". She gave his a couple of bucks for the fluid and he went home frustrated.

I wanted a Buick Reatta convertible and drove about 220 miles to look at one. The seller wanted $6500 and it was very nice except the rear glass has fallen out of the top. I told the seller I had to think about it and called him a few days later and said it was out of my budget. He tried to sell the car to some dealers in his area but he got few offers and they weren't over $2500.00. He called and lowered the price to $4500.00. I passed on the car. Two weeks later he called and said he'd take $3,000.00 cash. I bought the car.

Now, the reasen he had such a problem selling it was that he had a very unusual message on his cellphone that was an excerpt from a TV show and I was probably the only proson that waited the 30 seconds or so to leave a message!

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1977 With 46,000 perhaps 146,000 I called the guy told him I would meet him half way and not include the parts and he could buy it for $1500. The parts are worth 300 or 400 anyway.

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I'm having a difficult time right now with tirekickers/wannabe's and scammers as I have my 86 Porsche 928 up for sale. I've dropped the price 2 times to now well below fair market value (so I'm told by the guru's) and still no sale. I've had it with the time wasters who are only interested in driving a Porsche and then saying "well I gotta talk it over with the wife"

That's BS. I guess the old saying" a used car is only worth what the buyer will pay for it" is true.

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A lot of things are selling at a discount these days. Not to complain but I just sold an apartment house for $359,000 that I first put on the market 2 years ago for $429,000. At the time, the real estate agent said that was a fair price.

What the hell, something is worth what it is worth. If no one will pay the price, you have to do something. In this case I didn't feel like hanging on for 10 years till the price went back up.

I also bought a Porsche 911 a year ago for $2850, a good price for the car (which needed work) but more than anyone else would pay.

It's just not a good time to be selling Porsches or real estate or any high priced items or luxury items.

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Years ago on a Saturday morning we saw an ad in the local paper offering a '31 Ford Victoria for $1300, a fair price at the time. Dad and I hot footed it to the guys house, money in hand. As we were walking up the sidewalk another potential buyer approached from the other direction. We rang the doorbell and when the seller appeared the other fellow says "These guys were here first but if they don't want the car for $1300 I'll take it for that price". After we all looked over the car, Dad, an incurable haggler says "Will you take $1100?" The owner says "OK". The other guy walked away mumbling under his breath and shaking his head.

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