Former Pelican car on BAT

69porsche · 08-26-2018, 07:58 AM

https://bringatrailer.com/listing/1986-porsche-911-carrera-12/

1986 Porsche car is now being resold on BAT---Nice car, great color -was sold on Pelican in July 2017

http://forums.pelicanparts.com/porsche-cars-sale/964124-1986-porsche-911-carrera-very-good-condition.html

pingpong · 08-27-2018, 12:59 AM

Buying and selling on Pelikan is Carefree, LOL.

Now BAT If you win an auction we charge 5% of the final bid price on top of the winning bid, with a minimum fee of $250 up to $5,000 (5% of a $100,000 bid). The fee for sales higher than $100,000 is capped at $5,000 and for sellers; The listing process is fast and affordable: sellers pay only $99 to list their vehicle, and it usually takes two weeks from a thorough submission to your live auction beginning.

+Selling on BAT you deal with the peanut gallery, if you have the stomach go for it. However its entertaining to follow though, it's just not for me.

trader220 · 09:38 AM

I have sold quite a few cars on BaT and I like the format. My guess is this one will be sold for a profit.

Matt Monson · 08-27-2018, 09:29 AM

Is selling the car a year later really a flip?

dwelle · 08-27-2018, 09:41 AM

^ this.

i’ve often thought it would be fun to buy good cars at reasonable prices, fix/enjoy them, put 5k miles on them and sell for a slight profit after a year or so. great way to enjoy a lot of different cars for a disciplined and discerning buyer who can turn a wrench...

SalParadise · 08-27-2018, 11:57 AM

Quote:

Originally Posted by Matt Monson

Is selling the car a year later really a flip?

No it's not a flip. It's a money loser - even if all you had to do was the basics to get it safe. Heck, if I had the money I'd buy a ton of stuff every week and see what I liked and then sell it off if I didn't.

pmax · pmax's Garage

Quote:

Originally Posted by Matt Monson

Is selling the car a year later really a flip?

Only if you're trying to make a profit out of it ...

JMS935 · 08-27-2018, 01:17 PM

Quote:

Originally Posted by Matt Monson

Is selling the car a year later really a flip?

Profit or not, the answer to that is no. If the IRS views long term capital gains on anything held a year or longer, than I don’t know how one could infer that holding a car considered long term by the IRS, to also be a flip, which is considered an immediate turn of the car without sitting on it at all.

Flip is like a hot potato, you don’t want to hold onto it long at all. As soon as it gets in your hands, you try to immediately get it out of your hands - profit or not. This would be either a very short period of time, or all the way up to one year. If you bought and sold a car for a profit and you’re paying long term capital gains taxes on it, news alert, that not a flip. Not by any standards.

trader220 · 08-27-2018, 01:44 PM

I really see the "flippers" as the curb stoners, the guys who dont title the car in their name and sell it on an open title.

I don't see this as a"flip" in that sense.

NYNick · NYNick's Garage

Quote:

Originally Posted by trader220

I really see the "flippers" as the curb stoners, the guys who dont title the car in their name and sell it on an open title.

I don't see this as a"flip" in that sense.

I'm not even sure this definition fits, either.

You buy the car to sell at a profit as quickly as possible. That's a flip, registered or not. Dealers are exempt. It's expected of them.

69porsche · 08-28-2018, 05:09 AM

A guy buys a car, enjoys it for a year....He decides to sell it, end of story...if he was able to recoup some money he put in, good for him....I just posted this not as a "car flipper issue" or "dam be the flippers", but it was a car that I was seriously interested in on Pelican and was going to drive up to see the car when this person bought the car before I traveled that week....I have since bought a 1985 in the same color

Matt Monson · 08-28-2018, 06:19 AM

Quote:

Originally Posted by trader220

I really see the "flippers" as the curb stoners, the guys who dont title the car in their name and sell it on an open title.

I don't see this as a"flip" in that sense.

Yes. There's really two different things here though. There is a flipper, as you accurately describe the person.

Then there is the act of flipping. Anyone who finds a good deal might flip a car. One flip does not a flipper make. Making a habit or vocation of it makes one a flipper. And then there are the curbstone flippers, the worst of the worst. Guys like nasty Nick who don't pay their taxes and sell cars on open titles.

I kid Nick. I kid...