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Discussion Starter #1
I went over and looked at a guys fastback today and it was in pretty good shape for a project that is stripped and needs paint, interior, and engine. He wanted WAY too much. It's just a car he is turning and I know for a fact that he paid half of what he is asking. I'm all for making money, so I talked to him about price and he would not budge LOL I know the prices pretty well and would give him what it's worth, but he is over $3500 more than what it's worth in my mind? He picked the car up for 5K and is asking 10.5K ? Remember this is a stripped, no paint, motor is in pieces, and the interior is needing completely redone. The Body is probably 70 hours from being ready for paint.

Don't get me wrong, I'm OK with walking away from the car. It's his car and he can ask whatever he wants, but it just amazes me sometimes?
 

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IMO what I am willing to pay for something like a car has nothing to do with what the owner has in it. If a person has spent $50,000 on a car that to me is worth $25,000 that's all I'd offer. On the other hand if a person got something free that shouldn't matter to me. Just my 2 cents!
 

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Well, some people pay 15.5k for a body shell, without a VIN, that is 70 hours away from paint.

Slim, if you keep giving your .02, you're gonna go broke! lol
 

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Discussion Starter #4
Oh I don't have a problem with him wanting that much, I just find it odd that he thinks it's worth that much. I would not pay 10.5 for a car in that shape, but I understand people in areas that have less of a chance to buy projects in good shape paying more than that.

I think that thing I find funny is that everything he owns is worth top dollar. It's the attitude that is just interesting to me. I have a friend who thinks his time is worth more than anyone's time and his stuff is worth more. He has a 64 Vette that he kind of butchered and it's worth at tops about 25k, he says he would never sell it for less than 60K lol In good shape yes it could sell for that much. It's just the attitude.
 

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I know...I run across people like that all the time.

I still remember looking at a 66 emberglo convertible, V8, pony interior. It was about 1990 or so. This car was TRASHED, no top, visible holes in floor right down to the ground, no door panels, no motor. I saw it sitting out in a driveway in the weather. This car hadn't been moved in years.

I stopped, went to the door & knocked, asked the guy what he wanted for it, and he said $3500. I honestly thought he was joking 'cause I was only 18, so I broke out laughing. Then I said, "No, really, I'm dead serious, what do you want for it if I pay cash and trailer it out of your yard today?" and he said, "I told you". My jaw dropped.

For all I know, it's still there. I couldn't even begin to counter a price that was double what the car was worth. Back in those days that was restored big-block Camaro money.
 

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Here's my story along that vein. I found a guy with a 1970 Torino GT parked in his driveway a couple of years ago. It was an original "M" code (351C 4V) car with the Torino shaker. It was all there, but had a lot of rusty areas. It had been sitting for years. I called him up and went over and looked at it. It was a $1,500-$2,000 car at best. When I went to talk price with him, he said he turned down an offer of $8,000. At that point I wished him good luck and left. The car just continued to rot outside in the weather.
 

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I once went to a Mustang Car Show/Swap Meeting. There were plenty of rusty old Mustang cars and parts and everyone thought they had gold. I've now learned that the best deals come from the Chevy or Mopar guy who ran across this Mustang something or other and needs it out his way. To him it is worth very little.
 

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Discussion Starter #8
I love it when they have an attitude about it if you don't agree that it's worth that much or pass on buying it. I went with a friend of mine last week to look at a 62 Nova vert. It was pretty rusty and the guy was irritated at my friend because he passed on it. He hung up on my friend. The guy wanted about 2K more than what it was worth.
 

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Sometimes the buyers come with an attitude, also. In a moment of weakness, "stole" a 63 Falcon Sprint cvt. Pretty rust free, complete except the tach.

So a guy comes to look at it. Gave him the price, and the first words..."Are you ******* serious!!. So my answer was F*****' A, as the garage door came down!

Just because I got it cheap, didn't mean I was going to sell it cheap! Free Enterprise at work!!
 

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Discussion Starter #10
Sometimes the buyers come with an attitude, also. In a moment of weakness, "stole" a 63 Falcon Sprint cvt. Pretty rust free, complete except the tach.

So a guy comes to look at it. Gave him the price, and the first words..."Are you ******* serious!!. So my answer was F*****' A, as the garage door came down!

Just because I got it cheap, didn't mean I was going to sell it cheap! Free Enterprise at work!!
Oh I totally agree. The guys who come with that attitude are usually the ones who think their stuff is worth a mint though. They like to buy dirt cheap and ask about twice as much as it's worth when selling.

Like I said, people can ask as much as they want, it's the attitude that comes with it that interesting. I think it's that they also know some poor guy/gal will come buy an buy it eventually out of ignorance or desperation. Or on the other hand finally get a clue ans sell it for a reasonable price. Trust me, I'm all for making money, but I'm not greedy.
 

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I have found a lot of people that deliberately ask too much money. They like having people come over to look at their stuff - kind of a way to socialize. They really don't want to sell it.

I've tried buying stuff from people like that (willing to pay their price) and they raise the price.

I'd sell my R-code vert if somebody is willing to pay stupid money. So if they ask me how much it would cost I tell them. That is what it is worth to me.
 

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When I went to buy my rusted out, beat up, nothing good but a title and inner structure '66 GT Fastback, the guy started at $5000.00 Now this was 11 years ago, almost 12 now. I just asked him what he thought the car would be worth in fully restored pristine condition like the day it rolled off the show room floor. He told me $25,000. I then asked him if he really thought I was going to spend $5K on a car that would take $30K to get it worth $25K? I told him if he would like to see his car restored one day and know it did not go to a crusher/scrap yard I'd give him $1500 and he would have the satisfaction of knowing that one day it would be better than new again and live on. But I was NOT going to give him $5K and no body would give him that much money for one when you could buy a driver at the time for $12K in good condition.
Picked it up with a tow truck a few weeks later after I got the title work straightened out.
So far I'm into it for almost $15K and have about $10K to $15K to go before it is the way I want it. And that is doing the work myself.
 

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I have had the same experience. When the seller starts to tell you that I have this much $$$ in it you know it is time to leave because usually the $$$ in it have nothing to do with the real current market value. I had that happen to me just last week.
 

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Scott, I have the same story here. I bought my newest project (1963 Austin Healey) from a guy that used it as his daily driver for 25 years. He had put a lot of money into it, and from 10 feet the car looked great. It had a bad syncro, the engine smoked and there was bad body work that needed to be fixed.
We talked for a month and I explained that the car would be worth the same to me if the motor and trans were out of the car and in pieces and if the paint was blotchy in primer. I showed him the mustang I recently completed and promised him he could drive it when it was completed. It took another few weeks, but the car is getting close to being put back together.

 

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Nice! Originally BRG?
I have run into those types and also just the plain ignorant. I can't tell you how may cars I've looked at which I view as parts cars because they were either missing everything or it was all there collapsed in ruin, where the owner wanted a running car price just because it was a Mustang. "Was" being the operative word. I have my valuations, and I try to be polite as possible, but one guy had a 67 coupe with the tops of the shock towers completely cracked off, some really bad welding on the C pillar of an obviously damaged roof (still have never figured that one out - it was like someone fish hooked the car), 289 drowning in it's own oil, paint peeling of in potato chip chunks (as thick too), slipping C4, no rear quarters to speak of, an interior funk that warrented burning as the only remedy and was still asking $4K in 91. I couldn't stop laughing when He told me the price. I just had to get in my truck and drive away. He had this mortified look on his face. It just made it funnier.
 

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Nice! Originally BRG?
I have run into those types and also just the plain ignorant. I can't tell you how may cars I've looked at which I view as parts cars because they were either missing everything or it was all there collapsed in ruin, where the owner wanted a running car price just because it was a Mustang. "Was" being the operative word. I have my valuations, and I try to be polite as possible, but one guy had a 67 coupe with the tops of the shock towers completely cracked off, some really bad welding on the C pillar of an obviously damaged roof (still have never figured that one out - it was like someone fish hooked the car), 289 drowning in it's own oil, paint peeling of in potato chip chunks (as thick too), slipping C4, no rear quarters to speak of, an interior funk that warrented burning as the only remedy and was still asking $4K in 91. I couldn't stop laughing when He told me the price. I just had to get in my truck and drive away. He had this mortified look on his face. It just made it funnier.
As hard as it is to do, I never laugh at anyone. I try not to burn any bridges because there is the ever-so-slim chance that I might be able to get that poor rotting car one day from the idiot that currently is holding it hostage.
Here's a PERFECT example. (Although this guy was not an idiot)
In 1982 there was a one owner '69 Shelby GT 500 sitting in the guys front yard in N. Charleston, SC. Everyone that knew anything about Mustangs new damned good and well it was a SHELBY. But everyone that wanted it kept leaving notes pinned to the guys door asking if he would sell his MUSTANG. My brother left a note asking if the Shelby was for sale and please call him if it was.
That night he got a call and was told he could have it for $3061.00 $3K for the car and $61 for a new battery because the original owner could not stand to see his baby hauled off on a trailer or wrecker. He wanted to see it driven off when it went away.
When asked why he called us back and not the other guys, his response was, "You didn't try insulting my intelligence by calling my Shelby a Mustang." Then guy knew what he had, and was not willing to sell it to someone trying to pull the wool over his eyes.
Needless to say, the local Mustang club members were pissed because evetyone in it tried to buy the car. We cleaned it up, got the seats recovered and installed new carpet and put it in a local show. Everyone came along and started bad mouthing it about how much it was a rust bucket.
It had one hole the size of a quarter in the passenger floorboard, and a few small bubbles in the wheel well. We just told them to crawl under the car and find me all of this rust because we cannot see it.
Here it is after the show
 

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Yeah my story goes like its 1986 and looking for a car for the wife.Find a 66 vert and start checking it out,I open the drivers door and it drops about 3 inches.Get under the car and the rust is so bad it has structural damage,that's why the door dropped.
The owner wants 6k for the car and in tip top shape would get that.When I told him it need 3-4k in frame work just to get it driveable his jaw dropped a mile.But still wouldn't drop his price,go figure.
 

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Discussion Starter #18 (Edited)
I was given a 97 Chevy Z71 from my friend who thinks his stuff is gold. He said the truck was worth $1000 because it had been run into the lake and didn't know if it would run or not. It had also sat for about a year. He asked me if I would do some work on his vette for the truck and I said OK. Well the other day I asked when he wanted me to do some work on it and we got into this talk and he seems to think I'm going to finish the block sanding and paint the Corvette for the truck!!!!! I said to my wife after I was done, that I will do it in two days and he gets what he gets lol
 

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This thread keeps reminding me of "American Pickers". The people they run into form emotional attachments to the historical nostalgia of an object and you can't negotiate around emotional idealism.
 

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Discussion Starter #20
That is so true. I know it's a car that they are turning over, so that should not be a problem. I have a 55 Cameo truck that is really in great shape and pretty rust free. It looks like it's worth a lot of money in my head because it's in such good shape and I love the truck, but the reality of it is, it's worth about half as much as I think it's worth in my head lol
 
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