Vintage Mustang Forums banner

21 - 36 of 36 Posts

·
Registered
Joined
·
3,817 Posts
During my first foray to Hot August Nights back in 2016, I was chatting with a guy after the downtown cruise. He was driving a really nice big block Nova, 1969/1970 time frame. He had it built for $180K. I thought that was insanity, but I just smiled and nodded my head.
 

·
Registered
Joined
·
313 Posts
Discussion Starter #25
During my first foray to Hot August Nights back in 2016, I was chatting with a guy after the downtown cruise. He was driving a really nice big block Nova, 1969/1970 time frame. He had it built for $180K. I thought that was insanity, but I just smiled and nodded my head.
I never understood the buy a classic or have a classic built and drive it to shows and stuff and talk about it cause when they pop the hood chances are they know nothing about it!
 

·
Registered
Joined
·
6,800 Posts
Knock the 1 right after the dollar sign off and that is about what it is actually marketable for.
 

·
Registered
Joined
·
12 Posts
Things change. If you all would quit dying off maybe we'd see prices continue. In the CoVid19 aftermath, there will be fewer working, fewer expendable dollars, and plenty of cars on the market. My prediction is a sag in prices for the foreseeable future. Cars I thought were in out of my range may come down into my range, but if my customers are in hiding or broken from the crash, my range will fall considerably. Good luck citizens.
 

·
Registered
Joined
·
278 Posts
Clearly you guys are Ford guys and not businessmen. If this is a business and he lists the value at $150k, if he doesnt get it he can write it off as a business loss.
Also if he lists it at $150k people will automatically think thats a valuable car and drive the price up.
I live in LA and took some friend from Chicago to the beach and there was a house for sell, they looked at it and said thats an ok house its probably worth $200k. Seller was asking $4.5 million..because of the location. Back in Chicago it was a $250k house location location location.
In a place lke LA thats a $60k car because there are sooooo many resto shops,,,, if there are no other shops wherever he is that just may be a $150k car,,,, location location location
 

·
Registered
Joined
·
278 Posts
Sell it to his son for $100, take a $159,000 loss,,,,,, file that on your taxes,,,, really helps out when the economy takes a hit, live to bulld another car
 

·
Registered
Joined
·
577 Posts
It's just another case of someone adding up the receipts and throwing a little more on top for profit.
A very nice car, but people have to remember when they build these things, that not everyone wants something like that.
I heard a realtor call it 'Ego Pricing'. Just because you love a greenhouse and built in pool, doesn't mean everyone does.
 

·
Registered
Joined
·
335 Posts
Clearly you guys are Ford guys and not businessmen. If this is a business and he lists the value at $150k, if he doesnt get it he can write it off as a business loss.
Also if he lists it at $150k people will automatically think thats a valuable car and drive the price up.
I live in LA and took some friend from Chicago to the beach and there was a house for sell, they looked at it and said thats an ok house its probably worth $200k. Seller was asking $4.5 million..because of the location. Back in Chicago it was a $250k house location location location.
In a place lke LA thats a $60k car because there are sooooo many resto shops,,,, if there are no other shops wherever he is that just may be a $150k car,,,, location location location
Sell it to his son for $100, take a $159,000 loss,,,,,, file that on your taxes,,,, really helps out when the economy takes a hit, live to bulld another car
Two points:
1. Location is important in real estate. Not so much with classic cars. Advertised correctly, you can market nationally, or even world wide.
2. Any businessman who frequently takes a $159,900 loss on a transaction like this, won't be in business very long.
 

·
Registered
Joined
·
11 Posts
There was an auction I stumbled across on eBay for a Shelby, with a buy it now price of $425K. I'm no historian and really don't know if the car is valued at that price, but I was a shockingly high number when I first saw it.

 

·
Registered
Joined
·
1,460 Posts
Clearly you guys are Ford guys and not businessmen. If this is a business and he lists the value at $150k, if he doesnt get it he can write it off as a business loss.
Also if he lists it at $150k people will automatically think thats a valuable car and drive the price up.
I live in LA and took some friend from Chicago to the beach and there was a house for sell, they looked at it and said thats an ok house its probably worth $200k. Seller was asking $4.5 million..because of the location. Back in Chicago it was a $250k house location location location.
In a place lke LA thats a $60k car because there are sooooo many resto shops,,,, if there are no other shops wherever he is that just may be a $150k car,,,, location location location
In the last Great Recession around 2008, I saw cars on the road in winter (Minnesota) that would normally be in winter storage. People couldn't make payments on their cars and were forced to drive whatever car that was already paid for. I've read some very dire unemployment predictions for this year. These "businessmen" are looking for a sucker to buy cars now or they might be sleeping in them by this summer. As far as writing off a ridiculous value as a business loss, that's fine until the tax auditor notices.
 

·
Registered
Joined
·
278 Posts
SOmebody will buy it,interestingly people have different pricing guides. I have a 8 inch rear end that I am selling with a new set of gears, and complete disc brake setup ( shameless plug lol) . I told my mechanic I was selling it for $700 his first response, "you wont get a call". His recommendation, he would take out my old one and put the new one in if I came him the rear end.
I havent gotten any bites yet but that was 2 weeks ago, I may lower the price a bit ,,,,but i tested the market and we will see what happens.
 
21 - 36 of 36 Posts
Top