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Where do people come up with their pricing?


auburnseeker

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If you scroll down on the e-$$$ post, the seller admits to an error but can't change it. He is asking 900,000kr (Norway) which is $104,300.00 roughly in U.S. Dollars. Cut the guy some slack. He is from another country trying to use our system. He admitted to the mistake. He should be able to cancel the posting and submit a correct version. How he prices it is his business not ours. 

Edited by caddyshack
old conversion rate used (see edit history)
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When you actually put an item up for sale you have gone from the collector to salesman phase.  That opens you up for critique just like almost every body does at any car dealership across the country or world.  

They make you preview your listing as well before submitting.  I may make a mistake occasionally listing 3.99 trinkets.  But before I click the submit button when listing a car worth more than $100 or any thing more valuable than that,  I am sure about the pricing shipping, and disclosure parts that are necessary.   If you accidentally priced it too cheap and someone hits the buy it now as soon as you listed it,  you are legally obligated to sell it for that amount.   Does anybody think or proofread stuff before submitting it any more?  

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I also saw the price comment at the bottom. Still, if it wasn't for the pentastar mud flaps I'd be a buyer =-P

Edit: and a $100k product, a $500 camera would be warranted, or pay someone to come out and take photos. Edit again, gee, I guess I should buy a better camera for my trucks at work /-=

Edited by Frantz (see edit history)
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Now here is another example of a rare body at a said price that looks extremely high. Now the owner may think he is asking a fair market value and who is to say he is not. I myself think the price is outrageous. But then again the next fellow may think it is a bargain. I know that at the present time barn finds are at a premium price and all the rage. But after you find a chassis, the remainder of the body then put it together with new interior you will have to paint it to match. Then there goes the preservation class. So is it a reasonable price and how do you set a value on a rare part in todays market?    http://www.ebay.com/itm/Unique-Survivor-1918-Model-T-Ford-Coupelet-Body-Brass-Era-Pre-16-1916-1917-/121431273907?hash=item1c45de31b3:g:yhAAAOSwd4tT~~4X&vxp=mtr   

Edited by Joe in Canada (see edit history)
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1 minute ago, Joe in Canada said:

Now here is another example of a rare body at a said price that looks extremely high. Now the owner may think he is asking a fair market value and who is to say he is not. I myself think the price is outrageous. But then again the next fellow may think it is a bargain. I know that at the present time barn finds are at a premium price and all the rage. But after you find a chassis, the remainder of the body then put it together with new interior you will have to paint it to match. Then there goes the preservation class. So is it a reasonable price and how do you set a value on a rare part in todays market?    http://www.ebay.com/itm/Unique-Survivor-1918-Model-T-Ford-Coupelet-Body-Brass-Era-Pre-16-1916-1917-/121431273907?hash=item1c45de31b3:g:yhAAAOSwd4tT~~4X&vxp=mtr   

I would think that one could find the entire car in that condition for the same or less money and be driving it.  It's a Ford T ,all be it an early one, Not a Big Open car like a Stutz or Peerless.  I think there was a Duesenberg closed car body floating around for not really that much more a while back. 

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Here is another one with a questionable price. Where is the T market headed and is there a bubble that the early T prices are sitting on that we are not aware of?   http://www.ebay.com/itm/Superb-1912-Model-T-Ford-Mother-In-Law-Seat-Roadster-Body-Brass-Era-Pre-16-1911-/181518586693?hash=item2a4359d345:g:itcAAOSwQItUCwBF&vxp=mtr

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4 hours ago, caddyshack said:

If you scroll down on the e-$$$ post, the seller admits to an error but can't change it. He is asking 900,000kr (Norway) which is $104,300.00 roughly in U.S. Dollars. Cut the guy some slack. He is from another country trying to use our system. He admitted to the mistake. He should be able to cancel the posting and submit a correct version. How he prices it is his business not ours. 

Quote

 

Q:  Are you sure you have the price correct? Over ten million U.S. dollars? Mar-13-17
A:  Hi. The price is not right.I have tried to change the prise but i can not do it.The price to be is 900000 norwegian kr.Can you help me with that? Do you need my e-mail address and my phone number in the add???? In that case it is: haldor-l@online.no +4747321419

 

 

 
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I'm pretty sure he can edit it.  They only lock an auction down after a successful bid is placed above a reserve amount or the last 12 hours of the auction.   You can always do as suggested and just end it,  then relist it,   stating there was an error in the price or description.   It would be easier than dealing with everyone questioning him,  or any interested party, blowing over it because it was overpriced. 

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I agree the presentation is poor compared to the price of the car. Then, buying an old car should be done with discretionary money. If a person has $100,000 of extra money, most (but not all) who are smart enough to have the cash should be smart enough to know what they are buying. Just buy or or not. I have told buyers that if they didn't like my price, buy the other one. And I am sure I will again.

 

Sometimes poor marketing can be a great marketing tool, as well. One of the best ways to attract a buyer is to park a car behind a garage with bushes around it and a Post-It note on the bumper saying "Not For Sale".

 

Back before computer days I advertised a '56 Willys pickup locally. The ad read "My Wife recommended I sell my truck. She said if no one buys it I can keep it." She didn't, really, and I wouldn't have done it, but it sure sold the truck.

Bernie

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4 hours ago, Roger Walling said:

 His price may be right on the spot.

 Collector car price guide for 2017 lists a 37 custom built 4 door conv. for $98,000.

 

 The guide seems to be conservative in many of the cars that I have looked up.

 

6 hours ago, John_S_in_Penna said:

Even if he converted correctly, $100,000 is away too much

for his car.  Maybe $35,000 to $40,000?

 

I think the problem may be that Europeans use a comma where we use a decimal point. One dollar as we write it would be $1.00 but they'd use $1,00 and a computer would ignore that comma and read it as $100. When intending to put the price as 900000Kr he may have put 900000,00Kr which a computer would read as 90 million Kr and convert to $10 million dollars.

 

The listing below the title says this : Chrysler imperial c14 black, 104732,76 which reads as 104 thousand if you interpret the comma as a decimal point.

 

There also seems to be uncertainty about what it is really worth. I think I could sell my Alfa for almost double to a European buyer compared to locally if you could ignore the shipping expense and hassle. In other words the market and demand and perceived value could be different there.

Edited by mike6024 (see edit history)
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17 hours ago, mike6024 said:

I think the problem may be that Europeans use a comma where we use a decimal point. One dollar as we write it would be $1.00 but they'd use $1,00 and a computer would ignore that comma and read it as $100. When intending to put the price as 900000Kr he may have put 900000,00Kr which a computer would read as 90 million Kr and convert to $10 million dollars.

 

I think you figured out the explanation perfectly, Mike.

You should be a forensic accountant!

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