This is why Buying is easier than Selling

[belly dancer]

In 1979, I sold a '72 911 ST for 150% profit.
And I still regret doing it.

I believe mistakes made in Buying can be corrected over time,
but those made in Selling are Permanent.

All the Best,

Manor House Motorsport

[Catorce]

Dude, you are so right. Oh yeah, maker of several egregious selling mistakes here.

[NYNick]

Holy crap. Almost 40 years later and you haven't moved on? How's that high school girlfriend doing?

You've got bigger issues at hand my friend.

[SalParadise]

I have a lot more regrets not buying than ever selling anything. I know a guy that sold his 1964 Ferrari 250 GTO for $88K in 1983. Yeah, it happens...

[Matt Monson]

My old boss sold a 904 in 1974 for $4000. He used the money to buy his house. House is worth $1.5m today. Kind of a wash.

[Unobtanium-inc]

The first commercial building Matt and I bought was in Tucker, GA. The owner was a plastic surgeon who had an interesting car collection. He said he had a couple of Porsches, one was a 74 911, with about 17,000 miles. The year was 2000. He had bought the 74, in 74, drove it for a couple of years, and bought something else, drove that, and bought something else. Basically, he had every car he had ever bought new. So he had a collection of not super rare cars, but they were all bought new and were low miles. I've never encountered another collector like him, who was able to buy and keep buying, but never sell. Luckily for him, he didn't have super exotic tastes, he would just drive something new off the lot, and replace it a few years later. But almost everyone else has had to sell something to get something new, it's just the way it is. Looking back and saying you should have never have sold a car is only worth it if you sold it to buy stock in Enron, but if you sold it to buy another car, well, that's how being a collector works, unless you are the esteemed Dr. Liberman, he never sold anything.
Oh, and the building was a true horror show, we couldn't afford a new roof so Matt got creative in his "architecture". Yes, that was a sheet metal sail we made to keep the rain off, and it worked, sort of.

---Adam

[1979-930]

^^^ WOW! That is some Redneck Engineering right there.

[NYNick]

Originally Posted by Unobtanium-inc

The first commercial building Matt and I bought was in Tucker, GA. The owner was a plastic surgeon who had an interesting car collection. He said he had a couple of Porsches, one was a 74 911, with about 17,000 miles. The year was 2000. He had bought the 74, in 74, drove it for a couple of years, and bought something else, drove that, and bought something else. Basically, he had every car he had ever bought new. So he had a collection of not super rare cars, but they were all bought new and were low miles. I've never encountered another collector like him, who was able to buy and keep buying, but never sell. Luckily for him, he didn't have super exotic tastes, he would just drive something new off the lot, and replace it a few years later. But almost everyone else has had to sell something to get something new, it's just the way it is. Looking back and saying you should have never have sold a car is only worth it if you sold it to buy stock in Enron, but if you sold it to buy another car, well, that's how being a collector works, unless you are the esteemed Dr. Liberman, he never sold anything.
Oh, and the building was a true horror show, we couldn't afford a new roof so Matt got creative in his "architecture". Yes, that was a sheet metal sail we made to keep the rain off, and it worked, sort of.

---Adam

Thanks Adam, but it's not always about you.

[Rawknees'Turbo]

Originally Posted by NYNick

Thanks Adam, but it's not always about you.

Ha!

I think you might need a spanking for that zinger, Nick (expect Deez at your door any minute now!)!

[matt930s]

Originally Posted by NYNick

Thanks Adam, but it's not always about you.

Ouch... (backhanded,but clever....I give it 8.5 points)....


MattR

[faapgar]

In 1971 I sold a 59 Carrera GT Speedster with a pushrod motor to make the down payment on my first house & shop.Paid $45K & SOLD IN 89 FOR $300K.Sold the Speedster for $1800.No regrets.In 1981 I had the chance to buy 911R #013 that I had serviced for a few years that belonged to Michael Green for $8000.That is a regret.My wife said I already had too many cars.Wife ended up leaving.So do I miss the exwife more than the 911R.Duh the R never complained when being rode hard.

[Unobtanium-inc]

Originally Posted by NYNick

Thanks Adam, but it's not always about you.

The story wasn't about me, smartarse.

[NYNick]

Originally Posted by Unobtanium-inc

The story wasn't about me, smartarse.

Guilty. Just bustin'.
Not the first time somebody has called me that.

[Jrboulder]

Originally Posted by Matt Monson

My old boss sold a 904 in 1974 for $4000. He used the money to buy his house. House is worth $1.5m today. Kind of a wash.

One time I was in his office after making a deal to buy a car. We spent over an hour going through the inch-thick file of titles and pictures he had BSing about all of his old cars.

[Matt Monson]

Originally Posted by Jrboulder

One time I was in his office after making a deal to buy a car. We spent over an hour going through the inch-thick file of titles and pictures he had BSing about all of his old cars.

He ever take you next door? He's got a convertible D that's been in paint for 20 years waiting to be assembled. Going to be something of a cross between a 550 Spyder and a Speedster. Some day...

[Jrboulder]

Originally Posted by Matt Monson

He ever take you next door? He's got a convertible D that's been in paint for 20 years waiting to be assembled. Going to be something of a cross between a 550 Spyder and a Speedster. Some day...

Yes, a couple times. There were so many cool projects going on all the time I certainly didn't appreciate it as much at the time, mostly because I don't know 356s nearly as well as anything aircooled 65-89.

I passed on so many now amazing deals at that place I don't even want to think about it.

[ASD]

I had a Jaguar XK 150 I sold for 1,000. A TR3 I sold for 750. An 81 911sc I sold for 12,000. A 59 Corvette I sold for 1500. etc.
A 72 Les Paul I sold for 300.
But all these are history and fond memories.However,
I still have the 911sc I bought (after I sold the first one). My 24 year anniversary of buying it is this weekend, I drove it on the highway today to celebrate.

[911heaven]

Once upon a time I had a 73RS. What a memory, but I let it go not long after I got it all back together in good sellable state. Looking back now, I have some regret due to the astronomical price increase that no one saw coming I would say. Nevertheless, I had her my way, and I did get a good hit off of the car at the time. No one can take that away from me. Conversely, in hind sight I have chalked it up to a simple phrase “live and learn”. No regrets per say, just live and learn, some prose I got from a former mentor /teacher when a business I started failed due to dishonesty on the part of the partner/manufacturer. I put years of my life and energy into that one.

For all those watching this thread and the thread starter, I wanted to ask some advice/opinion about a thread I started a couple of years ago that never went anywhere really due to some resistance about the “rules” I had in mind perhaps. I always thought it had some potential if indeed I changed the guidelines/rules if you will. In the past I thought that one day I’d try to re-start it since I never got a chance to post my own photos at the time before it all went south. I don’t have the courage to do it myself and so that is why I’m asking for your opinions.

To keep it short, the thread had some similarities to this one; however, it was started on the technical forum which may be a little less tolerant. I had hoped that it would have a technical element, and a possible reference to a quasi-database over time that might lead buyers or owners (current and previous) to connect up over time if enough data were there. Most of all, it would allow all participants to walk down memory lane with all the 911s they have owned, and what happened to them along with pictures, #s, changes etc. etc. I thought it would be a fun thread, or even painful for some. Main theme would be walk down memory lane, tempered by “live and learn”. One other idea for a guideline on the thread was that any participant could also mention what they are doing now i.e. what 911 project are you currently doing, a sort of before/after idea. Would it dilute the thread or add to it?

If you have the patience to read the thread or have an opinion whether it is worth trying please let me know. I don’t care either way. I only thought it had potential back in the day. Funny that Nick said to Adam above “it’s not only about you”. In this case it can’t be only about you. It might be too painful unless you’ve lived and learned.

Here’s the thread by name:

What did you do to your 911 – infamous stories, history and technical


Thanx for any opinions or direction whether this is a good idea or not.

Bernard

[Cook&Dunning]

I owned Apple before the split at $50, sold it at $80 in 2006. I figured I was a regular Warren Buffett. Wrong. That $11 stock after split is now $145. Hindsight. Mr. Buffett also said (I am paraphrasing) all you need are 5 good trades and you are set for life. Easy to look back now at cars, real estate, stocks, marriage?

[trader220]

Whats the point of looking back? You cant unwind the trade. Forget about it and figure out what you want to do next.

Trust me.... I have a little experience in this area. 20 years as a market maker on a few different exchanges. Plenty of trades I wished I didn't make. Hindsight is 20/20. I don't plan on selling the top or buying the bottom, its just luck if you do. On the other hand I have paid higher than the printed high and sold lower than the printed low plenty (baskets of stock vs. options). Net net it worked out well for me over 20 years so why get hung up on some of the really bad decisions or even the good ones?

The rise and now fall of the air cooled market has been interesting. I have owned some prized cars in the past. 94 Speedie, RSA, a couple of 993 C4S's, a 993 C2S, an 89 RUF Turbo, etc etc. Bought and sold them a long time ago. Oh well. The market in these cars is not liquid enough to "trade" and IMO "investing" in cars is a fools game. You should have some discipline when buying or selling, but its a little difficult to quantify or qualify exact rules.