Keeping your word! - Page 5

john70t · 08-30-2016, 06:58 PM

Quote:

Originally Posted by sugarwood

Still waiting to hear how "Mr. Integrity" got the buyer to offer $5k more than asking price.

That's a relevant point in this discussion.

Baz · Baz's Garage

There's no evidence to support that the seller promised to sell the car at $28K.....rather only to hold off all other potential buyers and give the prospective buyer first right of refusal.

It's entirely possible that the final sales price was negotiated after the prospective buyer showed up.

None of us were there so we don't know how it went but I don't have a problem with a negotiated price that accurately reflects the current market value of the car.

YMMV....

fintstone · fintstone's Garage

I am pretty sure he indicated that he advertised it for $28k. If that were not the case, I expect he would have corrected us.

sugarwood · sugarwood's Garage

Quote:

Originally Posted by Baz

There's no evidence to support that the seller promised to sell the car at $28K.....rather only to hold off all other potential buyers and give the prospective buyer first right of refusal.
...

For me, the disingenuous part of this thread is that the seller somehow got 7:30pm buyer #1 to pay $5k over asking price. While there is nothing inherently wrong with that, the entire substance of this thread was that HenryHill was a man of his word and integrity, even after he realized he left money on the table (once 2nd buyer was offering more), but that he was sticking to his word, since he was turning away higher bidders, ie: leaving money on the table. What else is the point of making this thread bragging that you're turning away higher bidders? That implies you're taking a lower price than you can get. At least, that is how I interpret the meaning. Yet, that is not what he did.

There is no one on the planet who goes to see a $27k car and offers $5k more without an obvious manipulation by the seller. So, while the seller technically may have kept his word (first viewing), he certainly also used the other bidders as a tactic to renegotiate the advertised price, and did not leave money on the table, as implied by the "sticking to his word" rhetoric. It's not exactly the same personal "sacrifice" if you turn away a higher bidder, but then force buyer #1 to beat that bidders price anyway. At that point, you're maximizing the sale price, which contradicts the entire humblebragging theme of this thread. I mean "Hey, I advertised the Porsche for $28k, lined up a buyer, then got a phone offer for more, but I'm a man of my word, but refused to sell to that buyer for $28k" doesn't quite have the same ring to it, does it?

ckelly78z · 08-31-2016, 03:35 AM

Yea, something stinks here, I don't care how much I wanted the car, I would walk away (after a few choice words about his integrity) if the seller tried to weasel more than the asking price out of me.....especially when he agreed to the lower price earlier.

1990C4S · 08-31-2016, 04:27 AM

Quote:

Originally Posted by Baz

There's no evidence to support that the seller promised to sell the car at $28K.....rather only to hold off all other potential buyers and give the prospective buyer first right of refusal.

It's entirely possible that the final sales price was negotiated after the prospective buyer showed up.

None of us were there so we don't know how it went but I don't have a problem with a negotiated price that accurately reflects the current market value of the car.

YMMV....

Agreed. But when it appears otherwise and then the OP goes MIA inquiring minds want to know. No one has convicted him, we're just wondering aloud. It sounds like a lynch mob here, but all he has to do is explain.

Maybe he is on holidays, maybe he is ill. We wait and hope he will update us.

1990C4S · 08-31-2016, 04:31 AM

Quote:

Originally Posted by sugarwood

There is no one on the planet who goes to see a $27k car and offers $5k more without an obvious manipulation by the seller.

There was a BMW Tii on Wheeler Dealers that played out that way. The seller handled it well and did not come off as a douche. I recall he listed the cat at $7,500 and he had tons of hits and offers at that price. Mike had to go $1,000 over asking to get the car.

I would tend to think a price posted on C/L is the top price you would pay, but on the other hand real estate isn't that way. People list their houses way under the real price and hope to generate competing bids.

Not that any of the foregoing applies to this situation...

sugarwood · sugarwood's Garage

People pay above asking in real estate due to bidders being explicitly pitted against each other.

The OP implied that he simply dismissed the second bidder. This clearly was not the case, as the second bidder was used as leverage against the first buyer.

Scott Douglas · Scott Douglas's Garage

So here's how I would have handled it if I had made the mistake of listing it too low like the OP did.
I'd hold the car for the first guy like he did.
First guy shows up and offers below asking price (which he did if I recall from what was posted here). At that point, the asking is now off the table as far as I'm concerned, as the first guy wants to negotiate the price. I, knowing now that I've under priced it, raise the price as my counter to his low ball offer.
All's fair so far right?
I know first guy wants the car and since we're 'negotiating' I can raise the price to counter his offer.
That's how I'd have done it.
YMMV.

1990C4S · 08-31-2016, 06:37 AM

I think the general supposition on Craigslist is the asking price is the max you will pay.

If I offered slightly less I would think that 'sorry I'm firm on the price' is a fair reply. Increasing the price based on a discounted offer is not reasonable in my mind.

EMJ · 08-31-2016, 08:14 AM

Car was way under priced at $28k. Good for him that the guy paid close to market value. A good price is what someone will pay. Simply foolish to give it away when he learned he had under priced it. The buyer was happy or he wouldn't have bought it.

fintstone · fintstone's Garage

Advertising that you will sell anything for a given price...and increasing that price when a buyer shows up is dirtbaggery...even if you had underpriced to start with (other than a typo). Some of the same dirtbag practices that sellers exhibit here when selling parts. I am suprised honor can be bought/sold so cheaply.

EMJ · 08-31-2016, 09:35 AM

Be a Boy Scout then: sell it for $28k for the sake of your honor, and find it on CL that evening for $35k. Honor and foolishness are two different things. OP probably told the guy he had offers for $32k, which he probably did, and the guy agreed on terms. It's business. A $4k delta goes a long way, even in today's economy.

wdfifteen · wdfifteen's Garage

The OP said the guy wanted to come by and see it, and presumably make an offer. They didn't have a deal, no money changed hands, just a promise not to sell it until the buyer had a crack at it. You can bet the buyer would want to negotiate. He surely would have made an offer lower than $28k to see how motivated the seller was. Good for the goose, good for the gander.

Henry hill · Henry hill's Garage

Kept my word to the first guy about seeing the car since he contacted me first. Second guy came and offered me 26k to start(flipper)then said $28,250.k told him waiting for the first guy. After reading all the repleys here, I realized that the car was underpriced, after all, it is a Targa and the color is Guards Red! According to most people here there not really in high demand. Lol. When the 7:30 guy came I told him the price was in the 30's now and he offered 32k. I accepted. I may have priced the car low, but after reading the comments on this post there's no way I was going to let it go for 28k. Go ahead and let the bashing begin! I can't wait! 👍🍻😀

Henry hill · Henry hill's Garage

Quote:

Originally Posted by EMJ

Car was way under priced at $28k. Good for him that the guy paid close to market value. A good price is what someone will pay. Simply foolish to give it away when he learned he had under priced it. The buyer was happy or he wouldn't have bought it.

Thank You Sir!

Henry hill · Henry hill's Garage

Quote:

Originally Posted by EMJ

Be a Boy Scout then: sell it for $28k for the sake of your honor, and find it on CL that evening for $35k. Honor and foolishness are two different things. OP probably told the guy he had offers for $32k, which he probably did, and the guy agreed on terms. It's business. A $4k delta goes a long way, even in today's economy.

Thank You Sir.

1990C4S · 08-31-2016, 10:42 AM

An odd ending to a thread with this title, but I won't judge.

At least you have another $4k in your pocket.

creaturecat · 08-31-2016, 10:44 AM

all's well that ends well ..............
congrats on the sale.
the (slightly grumpy) guys here helped make you an extra 4 grand. far as i can tell ........

Seahawk · 08-31-2016, 11:02 AM

When I was selling my 356 the advice I was given from a friend of mine (who posts here) was to list it on EBay with a high reserve (no "Buy it Now Price") find out what the market price is for that auction, the specific car and act accordingly.

Also, there are too many tools to gain insight into how to price a vehicle these days.

Hemmings priced your car slightly higher.

I am glad it worked out. $32k for an '87 Targa is a signal that my Targa days are over.