Selling advice

[BfromNC]

I have a project car that i'm selling locally. I have a number of people that have expressed interest. Here's my question.

Should I schedule them to see the car in like 45 min. slots and get back to whoever makes the best offer? Or, do i schedule one, if they buy it, contact the others to let them know.  If the first person doesn't buy, then i call the next....rinse and repeat?

 

My concern is if I go through them all, decide to pick the best offer, what's to say they don't change their mind or try to negotiate a lower price, thinking they may have offered too much? Strategy please.

Just to clarify, i dont' take deposits. Been there, done that. No thanks.

[auburnseeker]

I come up with a price I think it's worth.  Usually post that in the ad and take the first offer that comes close and is serious enough to put money where their mouth is. 

 

I also schedule one at a time,  One day at a time.  Of course unless the first person sees it,  then the other person is close enough and wants to come right over if the first doesn't take it.  The whole scheduling several people in a day,  is a big deterent as I won't plan my day around the chance to look at something if someone else is coming to look at it first.  Especially if there is any distance involved. 

 

Unless it's super desirable,  in project form needing any major work.  I don't think you will have that long a line of buyers to just make an offer.  

 

I wouldn't look at much I just had to make an offer on,  unless I was pretty sure my offer was going to be accepted.   Everyone's time is valuable, especially yours.  I often sort of screen buyers first by fielding lots of extra questions and providing extra photos to make sure they are serious buyers when they arrive and will very likely be the buyer. 

 

Out of curiosity what are you selling? 

[BfromNC]

Quote

 

An 87 el camino project my friend needed to unload due to his relocation.  Any way to eliminate the low ballers? I had one guy look at the car for 30 minutes with his 'pal' and low ball me. Then he came up a bit, but he was about 300 away from what i needed. I know the car is worth it. I'm not new to this. I just figure the right person will eventually show. 

[auburnseeker]

I guess you need to decide what your time is worth.   Not sure how much 300 comprises of the total price,  but unless you are under 3 grand you might be a long time trying to make up the $300.   We have all had cars that we thought were worth X and on the right day they were,  but when it became time to actually turn the car into cash we had to take a bit of a hit. I have a few times including most recently a more substantial hit on a 1936 Cord Phaeton.  You do what you have to ,  to make the sale if it is time to sell the the car.     A light project not so much as you will have more interested parties,  but heavy projects especially.  Non running driving are especially harder to move.   Too many unknowns where the buyer is assuming all the risks. 

Edited December 29, 2022 by auburnseeker (see edit history)

[Matt Harwood]

First guy to put his money on the table should get the car. Don't play games with offers and waiting to see what the next guy will give you, or trying to play them against each other--that's what auctions are for. 80% of the guys who contact you are not buyers, the one or two who are buyers probably will offer about the same amount and will definitely not pay full asking price. You can hold out and wait for top dollar, but you'll wait for it and show it to a lot of tire-kickers who will waste your time, especially if you're trying to squeeze that last drop out of this particular rock.

 

First guy to get close ($300 apart, that would be a no-questions-asked "TAKE IT!" for me), sell him the car and be done with it. Your time has value, too.

[BfromNC]

All good advice. We'll see what happens. Thx.

[Brass is Best]

If you mess with a serious buyer he may not come back later.

[bryankazmer]

7 minutes ago, Brass is Best said:

If you mess with a serious buyer he may not come back later.

Amen.  Refuse the offer hoping for a higher one and the offer is gone.  You're not selling a Duesenberg here.

[alsancle]

If you have any offer on a project car, I would suggest taking it fast.

 

Project cars are for the most part have very little value. And there’s very little market for them.

[Ben Bruce aka First Born]

5 hours ago, alsancle said:

If you have any offer on a project car, I would suggest taking it fast.

 

Project cars are for the most part have very little value. And there’s very little market for them.

 

 Anything more than 300 -500 above scrap price, I would say it is yours.

 

  Ben

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

[MCHinson]

You are asking for advice without really posting what you should post. If you want to sell a 1987 El Camino project, post some photos of it, along with your asking price and location here on the forum. I don't need one, but you never know. I assume you are in North Carolina. If close enough to me and the price is right, I might even be stupid enough to buy it. You are on a forum where you can post it for free and have it seen by many of the most likely people to actually be willing to buy a project vehicle. Let's see it!

[Larry Schramm]

Sometimes some "buyers" will not meet the scrap value of the vehicle.  I had a couple of Corvair station wagons that were parts cars.  One of them even had a very desirable tinted glass all around with good windshields. 

 

I had a couple of guys come out for them and they would only offer 1/2 the scrap value.  I told them what I was offered for scrap, but they did not move on price.  They just wanted to pick a few parts off the cars.

 

Turned them down. 

 

Called the scrap dealer and he took both along with all of the rest of the stuff around the cars.  Cleaned up the place nicely. They are probably now toasters from China.

Edited December 29, 2022 by Larry Schramm (see edit history)

[George Smolinski]

7 hours ago, Matt Harwood said:

First guy to put his money on the table should get the car. Don't play games with offers and waiting to see what the next guy will give you, or trying to play them against each other--that's what auctions are for. 80% of the guys who contact you are not buyers, the one or two who are buyers probably will offer about the same amount and will definitely not pay full asking price. You can hold out and wait for top dollar, but you'll wait for it and show it to a lot of tire-kickers who will waste your time, especially if you're trying to squeeze that last drop out of this particular rock.

 

First guy to get close ($300 apart, that would be a no-questions-asked "TAKE IT!" for me), sell him the car and be done with it. Your time has value, too.

 

7 hours ago, Brass is Best said:

If you mess with a serious buyer he may not come back later.

The quote I’ve heard many times: “Cash talks, bullish— walks.” Should apply in your case. Someone flashes green & it’s close to your price, grab it!

[Joe Cocuzza]

On 12/29/2022 at 12:14 PM, Brass is Best said:

If you mess with a serious buyer he may not come back later.

I saw a Frazer recently and I was the 1st to call on it. I wanted to go look at it but the owner said he couldn't show it until the weekend.

I gave him my # to call me back when he had time to show me the car.

I get a call about 2 weeks later and he tells me had an offer on the car for the asking price in the ad and he asked me if I wanted to beat that offer. I told him to sell the car to the other person. I didn't NEED the car and I don't play that game and it has happened several times - seems to be the "new" thing - try to have an "auction" without really having an auction. BTW, that same car is now being flipped for 6 times what it sold for. Unbelievable!!!!

[jp1gt]

I only paid more than I wanted to one time. I always have cash and pay what I think it is worth to ME. I always have the attitude that I do not HAVE to get the car. Most of the time it works out---

[kuhner]

I don’t even look at cars that are not advertised with a firm price.

Put a dollar value on it slightly higher than you think it’s worth worth and if the offer is close take it.

If I go to buy a vehicle several hundred miles from me, truck and trailer, wad of cash at at asking price, I’m serious about buying. I’m not traveling to give a free appraisal.

[60FlatTop]

1 hour ago, kuhner said:

don’t even look at cars that are not advertised with a firm price.

I don't even look at cars with a reserve price.

 

And I would like to assure all those who have written :Serious buyers only" or "don't waste my time" I have never done anything to disrupt your life or karma.

[m-mman]

“Serious buyers only”……?

”Don’t waste my time”…..?

It works both ways.  

How about “Serious sellers only” ?

As the buyer I have the most valuable part in the deal - cash.  The seller has an object of indeterminate value.

 

The buyer also has to drive to your house and get it moved after the purchase. (Even if it’s just a lunch for another driver) 

“Sure I’ll pay the extra $300-$500 IF you move it to my driveway.  Otherwise I’m paying ‘the shipping’ and it comes out of your sale price”

People know that stock values change frequently and quickly.  car values change quickly too.  (Like on the last day of a swap meet and the seller realizes that he has to take it back home) 

Selling cars is work. Selling cars is not easy. Deals work best when both parties respect the other’s position.  

[Bryan G]

I've sold enough vehicles over the years to know...that I'm in no hurry to do it again. Scheduling folks to show up every 45 minutes? Ha! A huge percentage will never show, another large percentage will be 2 hours late. Some will show up early. I've had folks text me saying they were "leaving right now!" and I never heard another peep out of them. 

 

The guy standing in your driveway with cash in his pocket is the one guy you're looking for. I'd gladly knock $300 off the bill if it meant I didn't have to mill around the yard on a cold Sunday afternoon, hoping somebody else shows up.