who flips in this market?

car-reras · 01-08-2009, 09:15 AM

this guy.....

Before: here on pelican for 16K

http://forums.pelicanparts.com/showthread.php?t=433864&highlight=euro+carrera

Couple months, and even deeper economic chaos, later for $19.9K

http://forums.pelicanparts.com/showthread.php?t=450285

While I am glad to see the resent thread of the appreciation for the ease a flipper brings to a purchase, this thread isn't about the flipper, but why the flip?

I can't figure out why so many 'brokers' are attempting such obvious flips in this economy? I turn down great cars all day long for far less than this flipper took on this car for, much less for the pipe dream he thinks he will sell it for.

Are these guys rookies, living a in a parallel universe, what? Can they really be that optimistic?

Again, more power to anyone who can pull it off, but who is the buyer for this $4K mark up of an already lofty priced car, in a stagnant market?

Macroni · Macroni's Garage

Interesting question you pose.

No matter what the economy people tend to do what they know.
Why this car at those prices? The seller and possibly future buyer will have to answer that. With that being said it does look like a nice SC. personally I would lose the C3 clone look.

EA911 · 01-08-2009, 11:59 AM

Flipping a car that was purchased at market rate and then tack on $$ just doesn't make sense in this economy, it's a risk they're willing to take.

the · 01-08-2009, 01:54 PM

Quote:

Originally Posted by car-reras

but who is the buyer for this $4K mark up of an already lofty priced car, in a stagnant market?

How do you know what his markup is? You don't know what he paid for the car.

car-reras · 01-08-2009, 02:17 PM

Quote:

Originally Posted by the

How do you know what his markup is? You don't know what he paid for the car.

True, he likely got the car cheaper than the $16K by at least $1000 to $2000 if he is any kind of flipper, so correction, $5K or $6K mark up :-)

linklaw · 01-08-2009, 03:07 PM

Maybe the car is on consignment to the broker. With the deepening economic woes, perhaps the buyer of the car had some remorse or needed to unload it and consigned it to the broker. There are quite a few dealers near me (Pittsburgh) who will take a car on consignment regardless of the price and will adverise it for 3 or 4 grand more, hoping to catch someone under the ether.

the · 01-08-2009, 05:22 PM

Another "optimistic" flipper:

http://forums.pelicanparts.com/showthread.php?t=450327

jtr996 · 01-08-2009, 09:19 PM

Maybe I can answer some questions. I am not flipping the car. I bought the car for myself for the advertised price of $16K. A good friend of mine (and another Porsche nut) here in my hometown liked the car so much that he immediately traded me out of it for another 911. A month later he found an '88 911 that is absolutely perfect that he likes better. So, he asked me to try to sell the car for him and get his $16K back. Knowing you guys all too well (ha ha !) I priced it for $19,900 hoping someone would come in with an offer for $15-16K. No sinister moitves or high hopes, just a nice car that is for sale again. Actually, I am thinking hard about buying the car back from him myself and driving it because it is so nice. Unfortunately, it does not have heat at the moment (headers instead of heat exchangers) so I really wouldn't be able to enjoy the car much until spring unless I spend some money on the exhaust.

rw229 · 01-08-2009, 09:19 PM

LOL! I inquired about this car some time back because I wanted the head room, but it was sold. Lucky me, I have another chance to buy it...

Quote:

Originally Posted by car-reras

this guy.....

Before: here on pelican for 16K

http://forums.pelicanparts.com/showthread.php?t=433864&highlight=euro+carrera

Couple months, and even deeper economic chaos, later for $19.9K

http://forums.pelicanparts.com/showthread.php?t=450285

While I am glad to see the resent thread of the appreciation for the ease a flipper brings to a purchase, this thread isn't about the flipper, but why the flip?

I can't figure out why so many 'brokers' are attempting such obvious flips in this economy? I turn down great cars all day long for far less than this flipper took on this car for, much less for the pipe dream he thinks he will sell it for.

Are these guys rookies, living a in a parallel universe, what? Can they really be that optimistic?

Again, more power to anyone who can pull it off, but who is the buyer for this $4K mark up of an already lofty priced car, in a stagnant market?

rw229 · 01-08-2009, 09:22 PM

Your email address and post history infer otherwise.

Quote:

Originally Posted by jtr996

Maybe I can answer some questions. I am not flipping the car. I bought the car for myself for the advertised price of $16K. A good friend of mine (and another Porsche nut) here in my hometown liked the car so much that he immediately traded me out of it for another 911. A month later he found an '88 911 that is absolutely perfect that he likes better. So, he asked me to try to sell the car for him and get his $16K back. Knowing you guys all too well (ha ha !) I priced it for $19,900 hoping someone would come in with an offer for $15-16K. No sinister moitves or high hopes, just a nice car that is for sale again. Actually, I am thinking hard about buying the car back from him myself and driving it because it is so nice. Unfortunately, it does not have heat at the moment (headers instead of heat exchangers) so I really wouldn't be able to enjoy the car much until spring unless I spend some money on the exhaust.

gsjohnson · 01-09-2009, 05:49 AM

The problem I have with flippers is not the profit they may make. It's their lack of knowledge of the car they are flipping. If there's something wrong with a particular issue, they suddenly lose their memory. They just generally have a lack of knowledge or history of a particular car. They always have the excuse of, "Gee I don't know". I ran into several of these types during my recent search for a 911. I felt a lack of integrity issue when dealing with these types of sellers. This is not a personal attack on anyone in particular, just an experience and feeling that I went thru.

Macroni · Macroni's Garage

Hesse James · 01-09-2009, 06:35 AM

I think you're right Mr. Holmes :-)

indeed no "flipping" here - just "brokering"...

jtr996 · 01-09-2009, 08:53 PM

You guys are just too smart for me!!!! You have finally figured me out after all this time! In all seriousness though, I never said that I didn't buy and sell Porsches. I do, and have been doing so since 1991 ( not for a living thank goodness). Forgive me if we happen to enjoy the same cars. Many of the Porsche cars that I have sold have been brokered deals just like this car. I have many local fellow PCA members who have trusted me enough to sell their car for them or help them locate another. I never thought that this was so unusual. Anyway, I see cars come on the market and then disappear only to be offered again a short time later. It doesn't bother me in the least. If I like the car then I like the car. If I didn't like it the first time then I usually don't like it the second time. This is a real nice SC. If you like the car great, if not great too. There are plenty to choose from as you well know. This one appealed to me and it appealed to my friend even more so. If you would prefer to deal with him instead of me then PM me and I will be happy to put you in touch with him. And, for all you doubting Thomas types you can PM me too and I will give you the owner's number and you can check my story since you seem so interested.

kycarguy 935 · 01-09-2009, 09:40 PM

jtr996,

I really liked that black DP935 cab you were selling a year or two ago.

car-reras · 01-10-2009, 07:47 AM

Hey jtr996,

My question wasn't why 'broker'..if that is what you want to call it, but why now?
The only difference your sevice seems to provide is a higher price in a worse economy.
Other than that, the ads are the same, actually, yours is a little worse.LOL.

Fishman7 · 01-10-2009, 08:07 AM

Kinda feel like we are in second grade.

biosurfer1 · 01-10-2009, 09:02 AM

"why now"??

Just because the economy is in the toilet, does that mean he should stop working? Seems to be the exact opposite of what I would do

just an observation

car-reras · 01-10-2009, 09:36 AM

Quote:

Originally Posted by biosurfer1

just an observation

Just a bad one :-)

car-reras · 01-10-2009, 09:39 AM

Quote:

Originally Posted by Fishman7

Kinda feel like we are in second grade.

I know. Guilty. I am just really enjoying this unprecedented buyers market, and delight even more at these kinds of obvious denials in the market.
I'll try to back off, I sometimes just can't help myself :-)