Craigslist car prices

[Buick35]

I can't believe what people are asking for their cars! I'm a way it makes me think mine is worth more money but on the other hand it makes it hard for someone to get a nice old car. Most I see are around $30,000 or more.

[John348]

I think CL is a free fishing trip for some, now that CL is charging for Cars For Sale ads that might change

Edited June 9, 2019 by John348 (see edit history)

[KongaMan]

Asking ain't getting.

[mike6024]

 

The add says,

 

" No rust that I can see"

 

1962 classic Buick Skylark convertible O.B.O - $2700

 

 

[Lebowski]

2 hours ago, Buick35 said:

I can't believe what people are asking for their cars! 

 

How about $60k for a '57 Chevy 4 door sedan?

 

https://louisville.craigslist.org/cto/d/1957-chevrolet-belair-4-door-sedan/6890748472.html 

[1912Staver]

No different here in Canada. I think most sellers of better cars local to me are pricing for a U.S. buyer. That 40 % discount on the dollar sure helps on Canadian cars. Unfortunately it leaves local Canadian buyers out in the cold. The projects and lower end cars are a bit more realistic but still frequently optimistic. 

 I had my eye on a reasonably desirable project local to me . I don't want another project, it would be a parts car for one I already have.   He started at a pie in the sky $8,000.00. after about 3 months the price dropped to a slightly more realistic $6500.00 so I went and had a look.

 Seller told me $5000.00 is the bottom line. I said it was a $4000.00 car to me. A week later he emailed that $4000.00 is acceptable. 

 Now I am in a spot. A car I have had my eye on for years is suddenly available. The seller has said I am first in line. A lot more money but a 300% better car. I feel like a bit of a jerk but I am going to have to tell the first guy I am no longer interested.

 

Greg in Canada

Edited June 9, 2019 by 1912Staver (see edit history)

[mike6024]

Just tell him too late. Offers are not open ended.

 

You could tell him you spent that $4,000 elsewhere, but he doesn't deserve that consideration.

 

Or, tell him if his "bottom line" dropped from 5,000 to 4,000, then your top line also dropped from 4,000 to 3,000

 

You are not "in a spot" or a jerk

Edited June 9, 2019 by mike6024 (see edit history)

[mercer09]

or, tell him if his "bottom line" dropped from 5,000 to 4,000, then your top line also dropped from 4,000 to 3,000 

 

You are not "in a spot" or a jerk

 

 

 

really?????????????

[mike6024]

Really!

[KongaMan]

He waited a week to respond;.  As pointed out earlier, there's no expectation that your offer is open-ended.  Even so, common courtesy requires that you politely inform him that you're no longer interested, but you don't owe him a detailed explanation.  And for God's sake, don't try to get him to lower his price more.  In the first place, post-agreement renegotiation is a jerk move, and in the second place, if he did lower the price to match your new offer, "jerk" wouldn't even begin to describe what you'd be if you didn't buy it.

 

Then buy the other car.  If you don't, you'll be thinking about the one that got away the whole time you're working on the $4000 car.

Edited June 9, 2019 by KongaMan (see edit history)

[R Walling]

 I have seen pic's of cars still in the junk yard with prices that would make a millionaire gasp for air!

[60FlatTop]

Can you PM a description of the $4,000 car and the contact information? Was it built in the US?

 

Thanks

[JamesR]

8 hours ago, John348 said:

I think CL is a free fishing trip for some, now that CL is charging for Cars For Sale ads that might change

 

 

I agree. The basic principle of the typical seller (of old vintage cars) on ebay and sometimes CL seems to be, "There must be some rich idiot out there willing to pay this absurd price I'm asking."

Newsflash: I don't think there are as many rich idiots in the world as some people like to think. If they exist, they don't stay rich very long.

 

By contrast, 10 year old Honda, Chevy and Ford vehicles generally seem reasonably priced and probably sell decently. Hobby vehicles, OTOH, are often "perpetually for sale," hence the stupid prices. I understand, however, that people spend a lot on restorations and want to minimize the loss on their investment...and restorations usually result in a loss. I'm really talking more about the $6000-$8000 junk yard quality vehicles. A couple Fairlanes on ebay right now are like that. No titles, even.

Edited June 10, 2019 by JamesR (see edit history)

[Ed Luddy]

A lot of the asking prices are results of watching too much TV. From the idiots on reality shows to the B-J auctions any moron who has a rusty beater (sorry, patina'ed) over 20 yrs old equates their personal hunk of scrap to be the same price as "they seen on TV"

 Free ads don't really help as the old motto goes " It's free, so nothing ventured nothing gained"

[auburnseeker]

Then again there are cars like this on there for $19500 that make me want to refinance the house.  

 

https://rochester.craigslist.org/cto/d/marcy-king-of-chrome-58-buick-2dr-ht/6907326341.html

 

 

Overpriced cars have always been part of the hobby and always will be.  Look at a 30 year old issue of hemmings and you will find dreamers back then as well. 

[JamesR]

1 hour ago, auburnseeker said:

Then again there are cars like this on there for $19500 that make me want to refinance the house.  

 

https://rochester.craigslist.org/cto/d/marcy-king-of-chrome-58-buick-2dr-ht/6907326341.html

 

 

Overpriced cars have always been part of the hobby and always will be.  Look at a 30 year old issue of hemmings and you will find dreamers back then as well. 

 

 

That looks like a great price, to me. Way below restoration cost.

[auburnseeker]

The better part is the car isn't restored,  it's mostly original.  I really wish I was in the market.  Can't believe it hasn't been grabbed up yet.  It was at 21,500 for a couple of weeks but he just dropped it. 

[George Smolinski]

3 hours ago, Ed Luddy said:

A lot of the asking prices are results of watching too much TV. From the idiots on reality shows to the B-J auctions any moron who has a rusty beater (sorry, patina'ed) over 20 yrs old equates their personal hunk of scrap to be the same price as "they seen on TV"

 Free ads don't really help as the old motto goes " It's free, so nothing ventured nothing gained"

Amen, brother!

[Akstraw]

Years ago, I took a course in negotiating (the one that used to be very heavily advertised in the airline magazines).   One of the things they taught  was to (a) to avoid being the first to name a price, and (b) if you have to be the first one to name a price, name a figure that is borderline ridiculous in your favor.  You can always adjust.  I see this in auctions.  The auctioneer always starts with some very, very high number, just to see if there is somebody with deep pockets who is absolutely in love with the item.  From that perspective, it makes sense to do the same on CL.  

Another thing they taught was to avoid becoming emotionally involved.  If the seller wants 5000, and you offer 4000, and he doesn't take it, walk away.  If he comes back next week at 4000, then great for you.  Buy it.  If you no longer want it, don't buy it.  Period.  You can get into a lot of ego and saving face issues, but in the end, it's just a business deal, and it's your money.

 --BTW, love the Buick--

 

Edited June 10, 2019 by Akstraw
correct typo (see edit history)

[leon bee]

I think sometimes those for sale ads are just for the wife's benefit: "Okay, Hon, I'm TRYING to sell it! I put an ad online."

[Rusty_OToole]

7 hours ago, 1912Staver said:

No different here in Canada. I think most sellers of better cars local to me are pricing for a U.S. buyer. That 40 % discount on the dollar sure helps on Canadian cars. Unfortunately it leaves local Canadian buyers out in the cold. The projects and lower end cars are a bit more realistic but still frequently optimistic. 

 I had my eye on a reasonably desirable project local to me . I don't want another project, it would be a parts car for one I already have.   He started at a pie in the sky $8,000.00. after about 3 months the price dropped to a slightly more realistic $6500.00 so I went and had a look.

 Seller told me $5000.00 is the bottom line. I said it was a $4000.00 car to me. A week later he emailed that $4000.00 is acceptable. 

 Now I am in a spot. A car I have had my eye on for years is suddenly available. The seller has said I am first in line. A lot more money but a 300% better car. I feel like a bit of a jerk but I am going to have to tell the first guy I am no longer interested.

 

Greg in Canada

I have been in a similar situation before. I tell the guy I bought another car since I talked to him and can't afford $4000 anymore. All I can pay is $2000. Sometimes I get it. Remember, he already tried for more and didn't get it. That is, you can try this  if you can afford to after buying the good car.

[1912Staver]

If I buy the good car I am going to use up my hobby car budget for at least a year probably more. But it is quite good value for the money, just lots of money by my standard. But you get what you pay for.

 

Greg

[Matt Harwood]

8 hours ago, mike6024 said:

Or, tell him if his "bottom line" dropped from 5,000 to 4,000, then your top line also dropped from 4,000 to 3,000

 

 

You don't owe him anything in this transaction, but this is kind of a jerk move, especially if you offered $4000 already. When I mark down a car's price, that doesn't mean my bottom-line has changed, only my margin. I still paid $X for the car; I didn't magically get a $5000 rebate from somewhere. When I talk to a guy who is willing to pay $30,000 for a car advertised at $40,000, and he sees me mark it down to $35,000 a few weeks later and therefore moves his bottom line to $25,000, we've not achieved anything other than proving he's only having a bit of sport at my expense and he's an ass. My time is more valuable than that and he looks like a fool. I'm done with him at that point--that guy's money isn't green enough.

 

Pay what it's worth to you. Don't play games like this. 

[1912Staver]

 If I don't buy the more expensive car I wouldn't try to whittle down the seller of the project. At $4000 it is fair to both of us. But it is definitely one or the other, I have neither money or space for both. 

I was mainly trying to show how a initially overpriced Craigslist car needed to drop 50% before it had serious buyer interest.

 

Greg

Edited June 10, 2019 by 1912Staver (see edit history)

[mike6024]

I went to see and Alfa Romeo engines for sale here in Santa Rosa. Guy had a couple. I was most interested in the 1971 1750cc, not the 1974 2000cc

 

The fellow didn't know too much, because some guy who had rented his moms garage left them behind, or something like that.

 

They are both rebuildable cores, and shops that sell rebuilt engines will give you a $200 credit for a core exchnage, IF they take it apart, measure the crank journals etc and like it they will credit you.

 

So this fellow said $500 for the 1750cc engine and I could have both for $850. He had advertised $500 each.

 

I offered him $350 for the 1750 cc. He said no. I think he said it was worth $500, but he'd let me have it for $450. I left, but he had my number and I said call if you change your mind.

 

So these engines continued to to be for sale for months, and the asking price dropped to what I had offered.

 

Then the 1750 showed up for sale in Berkeley. At $450. I think a fellow that hoards Alfa parts in Berkeley bought it for, probably $300, and turned around and immediately put it for sale at $450. I called him.  Said I bet you bought that for less than what I had offered the guy.

 

 

Edited June 10, 2019 by mike6024 (see edit history)

[35cz8]

As the cost of shop work goes up and up, it is hard to justify the high prices of many project cars for sale.  My health issues no longer allow me to do most work on my cars so I checked with a well known auto restoration and rod shop in Vegas.  I was shocked to have the lady tell me that they would not even look at my car unless I had at least $100,000.00 dollars.  I am not talking about a high end luxury car - it is a 1963 Ford Galaxie convertible !! Who can afford to put that kind of money into a 1963 Ford?  Just costs too much anymore to have work done so if you can't do it yourself - you will bury yourself in costs.

[George Smolinski]

9 hours ago, Akstraw said:

One of the things they taught  was to (a) to avoid being the first to name a price, and (b) if you have to be the first one to name a price, name a figure that is borderline ridiculous in your favor.

Brings to mind -

Make me an offer. OK a hundred bucks, now make me a counter offer.

[George Smolinski]

8 hours ago, Rusty_OToole said:

I have been in a similar situation before. I tell the guy I bought another car since I talked to him and can't afford $4000 anymore. All I can pay is $2000. Sometimes I get it. Remember, he already tried for more and didn't get it. That is, you can try this  if you can afford to after buying the good car.

This all fine if you actually DID buy another car. If you didn't and you're lying just to beat the seller down, that just ain't right. IMHO

[60FlatTop]

Wouldn't it be great to get back to the days when old cars were cheap and no one complained about prices?

 

A lot of the older guys probably remember when even full Classics were a dime a dozen.

[B Jake Moran]

There are too many variables in the collector car for sale market, to make a singular statement about what a person is asking or whether it's a value or what to ask. 

I am looking to scratch my Cadillac itch.  I sold a couple of cars more for the need to space.  I can tell you this time around, I am likely to spend way way more than I usually do, I am known cheapskate.  I wish in a way there was some over-riding rule, some unseen hand guiding collector car market prices that mandated that asking prices could be 10% more at the most than a person paid for the car, but that's communistic.   It seems like everybody but me makes money on their collector cars.

 

I recently sold a 1990 Reatta convertible for $4000.  That's what I had in it, so I broke even, after owning 2 1/2 years.  I bought a 2000 Cadillac Eldorado, certainly not considered collectible but I see them in the Cadillac LaSalle Club Self Starter club magazine for $7500 to $15,000.  I paid $2800 for it, put $6000 into it, and sold it for $1700.  (My daughter needed a more practical car and I did not want to burn through savings for it, so I sold these 2 cars) 

 

I am considering 2 old Cadillacs offered for sale on this forum, a 1920 Touring and a 1930 7p Sedan.  The Touring I think he wants $25,000 and not sure he has sold it. The 1930 7p she wants $27,000 and I just checked, she still has it.   I want 2 cars, so you can see I am not playing around here, $52,000 is way more than I have ever spent on 2 cars.  Looked at a 1941 Series 63 on C.L. -->

 

https://boston.craigslist.org/gbs/cto/d/south-effingham-1941-cadillac-model-63/6890087600.html

 

I spoke to this seller and found out the back story.  It was purchased and restored by 3 doctors in Florida no expense spared with $91,000 in receipts but a couple of amateur errors meant they ditched it and the seller - a retired mechanic - sorted it out, converted to 12v and wants what he has in it - $24,900.  I believe him.  He stated "I won't take less, I'll keep it."  His reason for selling is space as he just bought a Packard from Volo. 

 

So there is the ying and the yang.  How many sellers basically tell you what their profit margin is?  They tell you "none of your business!"  Leaving you to decide is it a value or not? 

 

I just reached out to this seller:

 

https://madison.craigslist.org/cto/d/madison-1941-cadillac/6908514290.html

 

Another 1941 series 63 Cadillac sedan I have been monitoring for 12 months on and off CL even with the new $5 policy, he has had it for a year with no takers at $19,900.  Now he raises it to $22,000.  Does he want paid for maintenance?  I don't get reimbursed for maintenance and repairs (see 2000 Cadillac Eldorado) !

 

The supposed value guides are often cited by these ads as reason for the price, not what the value of the car really is.  Series 63's have high sides in value guides in the $35,000 range.  Car number 1 above would be in that range, car number 2 is pretty nice as well but if both asked $35,000, it would be crickets time in this market.   After all, they are both 4 door sedans essentially, without power steering.  I just happen to like them but I am pausing before paying those prices. I want a value.  I am painting with a broad brush as I like Cadillacs from the 1920's to the 1970's.  (No more modern Cadillacs, I lost $6000 on that one)

 

I know of 3 cars I can get with high collectible value to me, for $21,000 all in!  That's my cheap thinking there.  I know of a one owner 1964 Sedan deVille that is simply gorgeous for $7000.  I inquired and was ready to buy a $22,000 obo series 7219 1940 but it was listed in the CLC magazine - not CL. 

 

I agree there are some "fair" prices out there and then there are the ones some of us complain about.  My issue is always that I wish we knew what they actually sold for - good solid information, rather than the stupid price guides which in my opinion do not take into account sales other than auction house sales or easy to grab information.  Yet are cited by many sellers as evidence of a fair price offering!  They call it "Book" ?   Book shows $32,000, I am only asking $23,000???  Really, I should feel great because your car has been on C.L. for a year at such a bargain price?

 

 

[B Jake Moran]

25 minutes ago, 60FlatTop said:

Wouldn't it be great to get back to the days when old cars were cheap and no one complained about prices?

 

A lot of the older guys probably remember when even full Classics were a dime a dozen.

 

Bernie-

You always bring salient points to this topic.  I am 55. I remember when the classics and neo-classics were cheap and still collected by those early club members.  I remember the old prices in Hemmings Motor News from 30 years ago. 

 

Now these 70 and 80 year old, sitting on cars which have appreciated in value due only to the speculative markets of the late 1980's and 1990's won't take a dime less than [fill in the blank] for their car!   Their grandkids are salivating over being able to sell them when Grandpa passes away because they saw Grandpa point out a price guide to them once. 

 

I wish these cars could be sold for a price reflecting a modest profit over their purchased value - as a market correction. I am also in the Kaiser Frazer Owners Club and I'll either go the route of Cadillac or KF, so I looked in the latest newsletter and there is a 1948 Frazer Manhattan in there, looks pretty nice and the club member put for a price "The dance starts at $14,000!" What does that mean?  He is looking for offers above $14,000 for a car which has a very very limited market.

 

I can tell you from experience with the Kaiser Frazer crowd that they are the cheapest car collectors in the world!  Some of their holy grail project cars go unrestored because they live in a rose colored world of the 1970's when the cars they collected were - as Bernie points out - $25 to $100 and ran and drove just fine!  They won't spend a dime to save a rare Kaiser Frazer from further degradation because of the high cost of restoration.  They can't wrap their heads around those costs when they used to be able to pull a nice used bumper off a scrap KF for free or $5. 

 

Yet this long time member has the kahunas to ask $14,000 for his Frazer as a starting point.  We wonder why the hobby is at a crossroads.

 

 

 

[Lebowski]

21 minutes ago, B Jake Moran said:

I am looking to scratch my Cadillac itch.  

 

Take a look at this one in Volo for what seems like a reasonable price....

 

https://www.volocars.com/auto-sales/vehicles/14962/1965-cadillac-calais

 

 

[Rusty_OToole]

5 hours ago, George Smolinski said:

This all fine if you actually DID buy another car. If you didn't and you're lying just to beat the seller down, that just ain't right. IMHO

When I did this it was because I made an offer on a car and got turned down so I went out and bought another car (second choice). A week later seller #1 called me up and told me his 'better offer' fell through. I lowered my original offer because I didn't have much money left after buying the other car, and the seller took it. So now I had 2 cars.

 

The OP described a similar situation and I told him my experience. Hope this is clear.

[Ed Luddy]

Some the worst cheapskates are Studebaker people. CASO (cheap a$$ Studebaker Owners) have driven me away from any club activities or participation in a cruise in.

 If you don't have a lot of money to invest in the old car hobby, I get it. Having been there most of my life! But when you just constantly low ball and bad mouth every Stude except your own and a few close bud's cars I really despise that.

These so-called Studebaker lovers do more to drive away any potential new blood in the hobby than anything else.

[mike6024]

5 hours ago, Rusty_OToole said:

When I did this it was because I made an offer on a car and got turned down so I went out and bought another car (second choice). A week later seller #1 called me up and told me his 'better offer' fell through. I lowered my original offer because I didn't have much money left after buying the other car, and the seller took it. So now I had 2 cars.

 

The OP described a similar situation and I told him my experience. Hope this is clear.

 

You have the right to lower your previous offer which was turned down because you feel like it.

 

In fact the seller lowering his price to match your previous rejected offer gives you more information: That you don't have much in the way of competing bidders.

 

I would lower my offer on principle. If the seller had turned up his nose at my previous, sleazy, "low-ball" offer, I would lower it further to impress upon him that what he perceived to be sleazy and low-ball, may in fact not have been.

 

[KongaMan]

29 minutes ago, mike6024 said:

I would lower my offer on principle. If the seller had turned up his nose at my previous, sleazy, "low-ball" offer, I would lower it further to impress upon him that what he perceived to be sleazy and low-ball, may in fact not have been.

 

You seem to be creating quite an adversarial relationship in your mind.  If a seller declines your offer, it doesn't mean that he thinks it's sleazy or low-ball; it just means he thinks he might reasonably expect to get more.  However, if you come back and lower your offer, that's an unmistakable signal that you're offering less than you think it's worth.  At that point, you're just playing games.  If I'm the seller, that concludes our conversation.

[trimacar]

I've bought over 200 collector cars over the last 50 years, and my rule has been from day one that the offer I make is good WHILE I'M STANDING THERE.

 

If you leave an open ended offer, then all  you're doing is starting an auction, with the seller telling the next guy "Well, I've been offered XX for it, you'd have to do better to get the car"......

 

You're under no obligation to honor an offer once the seller refuses it.  The game starts over.  I do agree that offering less later on is bad manners, but can see that happening if you only had x + y dollar bills and had already spent x on another car, and y was less than your offer, and it's explained that way to the seller.  

 

I've always tried to be fair when a car was for sale.  If it's a great bargain, not much negotiation. If it's fairly priced, will push some, but you don't want to overdo it, if you buy the car you want both you and the seller to walk away happy.  Word does get around about the way you act.  If it's overpriced, I may make an offer, but many times I've done this the seller got mad at me, thinking I was trying to lowball, when in reality my offer was ballpark market.  I've told the story here of a fellow who wanted $110,000 for a '36 Pierce convertible coupe that, at the time, was worth half that.  I offered $50K, and he got really mad at me, and this was the owner of a local Chevrolet dealership, a supposedly reasonable man..  He later took to car to an auction 1000 miles away and high bid (and selling price) was $56K.  He lost money on not taking my offer.

 

Every situation is different.  I once had a really nice '28 Model A roadster, back when they were in the thousands of dollars.  I advertised it for $3500 in Hemmings, had not ONE call.  I told my father I was going to lower the price, he said no, raise it, they don't think it's much of a car at your price.  I put it in Hemmings a few months later at $4200, and it sold with one phone call.....one never knows....