While we are in the subject of how to approach sellers...

[padgett]

Priceless.

[alsancle]

As buyer,  people need to come wade around in the waters I fish in.   I'll make the mistake of chatting up the seller, liking the guy and forming a relationship,  politely passing,  being asked to make an offer,   being asked to make ANY offer,  not wanting to offend,   being asked to please offend,  and then not to long after staring at a car with a market of one person sitting in my garage.

[60FlatTop]

I have never lost 100% of the purchase price on any car I bought although a few have not met my expectations. When distance buying online became common, like right around the turn of the century I decided to formalize my personal policy. Because I enjoy the buying and selling part of the hobby and usually have some deal going on I concluded that the maximum loss I could risk was $3,500 in a given year.

I look at a car for, say, $7500. In a worst case lapse of judgement could I squeeze $4,000 out of it and do other stuff to make me feel whole again. Usually yes. That gives me a level of comfort, like I know what I am doing.

Since I sat down and figured out my rules they have not come into play. I have a feeling things just work that way.

[padgett]

Interesting. Have never thought about cars that way. Pay cash and consider it a sunk cost and not a piggy bank. Have given vehicles away before (mostly black) usually to relatives in need. To me the major cost is the space it's sitting in and eventually start thinking about what is disposable (two SLKs since bought the Allantes, am through my "retractable phase" mainly since they have zero trunk space with the roof down and both Allantes have hardtops). Since garage is attached only real cost is insurance and license plates and old cars total less than DD and tow car.

 

Have never thought about any car as an investment even ones that are six figures now, were $500 or $1000 cars back then. Did pay two large for a really nice a '61 E-type with long gears (good example of thinking: 61 E-type had long gears but a non-synchro 1st rather than as a "flat floor" or "welded vents").

 

Suspect am unstuck in time...