Am I low-balling myself ($27K for my 993)?

[Leland Pate]

It looks like I have a buyer for my car. He's a nice guy but it kind of stung when he offered me offered me $27K for my 65K '95 C2.

I made a mistake advertizing it for $28.5K (which I thought was a really fair price) thinking someone would be happy to get a good deal. I'm not good at selling cars and I'm learning fast that no one wants to pay the advertised price.
I figured I'd budge ~$500 and let someone have it for $28K even. To me that's a really good deal. He is a serious buyer (with cash in hand) and he offered $27K. I feel really torn about this because I keep thinking I'm really taking it up the pooper here. What do you all think? To me that's closing in on like wholesale or trade-in value or something. I know you don't get the money you've got invested in cars back out but damn I've easily got $20K in cool parts (close ratio gearbox for example) in it and it just plain ole hurts.

It's hard to sell a car like this overseas because of the small market (American population in Germany). Opinions?

[mtech325ic]

Are you selling because you have to or because you want to? If you don't need to sell, tell the buyer no thanks and relist the car at a 28K firm price. Otherwise, take the money and run. Good luck on the sale.

[sobamaflyer]

Who's to say his offer is firm or if he's just trying to get the best deal for himself too? (never hurts to ask)

It's only $1k less than what you wanted for the car, you have a couple of options: Tell him you feel you really priced it fairly and wanted that $28.5k, but since he's so nice w/ cash in hand how about $28k. Then if he comes back w/ $27.5k consider that you met him in the middle of what you wanted and what he wanted.

I somehow doubt he's going to pass on what sounds like a good deal with cash in hand over a grand.

[gestalt1]

how long have you had the car for sale? if it has been for sale for awile i guess take what you can get out of the guy. it's not easy to find a good 993, i bet the guy wants yours and is just lowballing a little to see if he gets it. i've never had good luck with selling used cars. everyone wants a deal compared to what the book value is.

[Porsche_monkey]

It might have helped to put the word FIRM after your price, I think this tends to prevent low-ball offers.

But from your current position I think you are perfectly justified in telling him you won't take less than $28,000.

Of course, you're still taking a bath, so it might be time to take the money, dry off, and move on. Supply and demand rule, and from your post there is a distinct lack of demand.

[Fellowship]

Not sure how long you have had the car up for sale.

I usually just explain to the person making the low offer that I have just listed the car and am going to give it several weeks before possibly lowering the price.

Ask for their name and number and tell them that you will contact them if the situation changes.

If they really want the car, I would bet they come back with a higher counter offer. If not, the right person will come along.

Good Luck!

[Zeke]

There are a few at 28K, so the competion is there. Of course, I'd pay a grand more for a local car rather than going thru the hassle of shipping or traveling to see/get the car. If I know you at all, Leland, it's a nice car. You should be able to counter and everyone is happy.

One rule of counter offers: Don't "split the difference". Tell the buyer that you will go to 27,750 (or even 27.8). That sets the increments of bidding smaller. He should come back at around 27, 250 if he is astute, and then you say 27.5 (maybe 27.6) or nothing. At that price, you will have paid only 500 (or less) for your "mistake".

Most offers/counters cycle thru 3 sets of numbers, no more. I excuse myself after the 3rd. Next.

[Shaun @ Tru6]

If he's a serious buyer, he's already "bought" the car for $28K in his head. he has to offer $27K at the outside chance you'll take it, then he can brag to his friends about what a great deal he got.

Either send him a list, or talk by phone over all the great stuff your car has going for it.

Sometimes a risky maneuver, but from seeing some of you your posts, you seem like a ballsy guy, so after going through the list, just ask him, "Don't you think it's worth $28K?"

What's he going to come back with? "No." Probably not. If he's serious, he'll find the extra $1K.

[twin plugged targa]

I'm a bit ill informed here- are you selling the car in Germany? if so I would say it is VERY cheap!.
$28K = 20,700Euros or 14K GB pounds.
Currently stock original cars of that age and mileage go for about $40K-$50K in the UK and this is allowing for it being Left hand drive. In France they would go for a similar amount maybe slightly less.

Having said that I am also not clued up on your particular car or the mods done to it.
I have found through personal experience that modified cars are worth much less than stock cars here in Europe.
It seems that it does not matter how much you have improved the car, people just dont see it that way.
This is in contrast with the USA where modified cars can be worth more than an original stock car although of course rarely equal to the sum of parts put into the car!.

If of course you are selling in the USA ignore my rambling!
Rgds Ben

[Porsche_monkey]

As to negotiating a price: If I were expecting to to get $28,000 and I was offered $27,000 I simply say "I have already turned down an offer of $27,500." He has no way of knowing if it's true, but he will assume it is.

[Noah930]

Originally posted by Noah
Just tell him the price is $28.5K, take it or leave it. You're under no obligation to sell it for a penny less.

+1

Unless, of course, you've told him that the price is negotiable. You can still stick to your guns, but I (having just sold a car last week) don't think it's fair to say one thing and then do the opposite.

[Paco Anton]

Originally posted by Leland Pate
It's hard to sell a car like this overseas because of the small market (American population in Germany).

Why can't you sell it in the regular German market? Even at 28,5 k$ it is "only" 22 k€ and at that price I would even consider buying it from you and import it into Spain.

In fact, if you can sell it to a EU national I am seriously considering it. Can you sell it to me?

[Leland Pate]

Thanks for the input guys.
I have made no commitment to the guy but he seems square and I won't jerk him around.
I am currently stationed in Germany and the car is here with me. It's a US spec car and I have no idea how I'd go about selling a US spec car on the european market.

I would certainly love to be able to sell the car to Europeans as it would increase my market pool but 1000%. I haven't the faintest idea of how to go about it and the language barrier has been enough to put it out of my mind.
Any German's on the board care to illuminate us on this issue?

I love my car. I'm only selling because I'm seperating after 11 years of service to take a job in the civilian sector. I may be unemployed for upwards of a year as my profession takes time to apply and actually get hired.
So, the sale of the 993 would just make my transition easier because I'd be completely debt free and able to focus on applying and interviewing for jobs rather than having to flip burgers to make a hefty car payment.

[Rot 911]

K9handler just sold his U.S. spec 911 (with a 3.6) to a guy I think in Denmark. He had it posted on the Pelican classifieds. I would think it would be worth contacting him to get some pointers.

[Paco Anton]

Leland,

I have previously imported a car from Germany into Spain and know a bit about the process. I am not sure about the US spec thing but can investigate.

I am definitely interested in your car and would like to explore the possibilities. Can you send me pics and a description of the car to paco_anton@yahoo.com ?

Thanks!!!!

[DARISC]

I'd tell him I'd split the difference and he can have it for $27,750. He'll maybe see himself as having shrewdly beaten you down $750 and you'll be selling for only $250 less than you'd hoped to get, worst case.

He's happy because he's shrewd and got a car he wants; you're happy because it's over with.

I've been both a seller and a buyer where it went that way and I was satisfied in both cases.

Good luck!

[mark 74 carrera]

Lee,

I can certainly identify and understand your line of thinking. While you don't want to give the car away, you want to balance that with the hassle it will take to get a higher price. I agree with the advice to go back to him at your original price. If he does not accept, it's just more time until you sell the car. I like the suggestion to run down the lit of extras included in your car.

What is your long term 911 plan? after having and SC and a 993, which would go back to after this short term lull? Or, are you out of a 911 indefinitely (Frankly, I find that hard to fathom.)

Hope all is well. If you ever get out to Texas, drop by. You should also think about tying into the Pelican Nation when looking for a job. I would vouch for you, for what that's worth! One more thing, you should post more often.

Mark

[twin plugged targa]

I recently imported my USA spec '71 911 into the UK ( I am/was British resident) and then into France (am now French resident) with little hassle.

If you want a no hassle deal and are prepared to lose a few bucks then sell it to your fellow countryman and walk away.

However, if you have a but more time to market it then you should be able to make a lot more money selling it to someone from the UK.
Selling it to a Brit solves the language barrier and should get you what you deserve for the car. Brits drive to Germany all the time to buy Porsche's, BMW's and Audi's- I was considering driving from S France to buy a car from there they are so cheap!.
The fact/issue with the USA reg. may take some wrangling but may be worth it- the dealers would be able to answer questions on that front- esp. 'Fuchs Porsche broker' as I believe they buy cars from the USA regularly.
Here are some Brit sites worth viewing-

http://www.pistonheads.com/sales/index.asp

http://www.fuchs.co.uk/

http://www.rsjsportscars.co.uk/opt/rsj_opt.htm

http://www.911virgin.com/

http://www.carandclassic.co.uk/list/35/

Maybe some of the dealers will purchase it from you?

Hope this helps
Rgds Ben

[MFAFF]

Leland..

Just another view point... the car is US spec but even in that spec I am assuming its 'legal' to drive on Euro roads... I cannot believe the Germans would give you and exemption..

So...

From what I know you would be free to sell it to anyone in Europe...regardless of the fact its US spec..(taxes may be a separate issue.. I can't remember if you purchased in Germany or the US..brain fade).


Just as a 'for instance'... a UK road legal LHD drive car is going to sell around £17-18K depending on exact spec and with low miles it may be more.

So the figure you are quoting is extremely advantageous to the buyer..even if they need to pay tax on that.....

I'm pretty certain you have changed the stock US suspension set up for something more appropriate....so the differences Euro/US will be body work rather than mechanical...

My guess is that if your current 'offer' does not pan out there are several Euro people here who may want to make you and offer......

[twin plugged targa]

Actually the car is over 10 years old and so I am pretty sure that it does not have to pass the SVA test in the UK. It should only have to pass the MOT. For this it would need to have RHD headlamps and that is about it!
I believe all other light configurations/colors are the same.
A 'Brit' may have to pay customs duty on it and other small charges when bringing it in to the UK as it is still a USA reg car I presume- not a European car.
Hope this helps
Ben