Price guidance~!

[colt45sa]

"I'm having a terrible time deciding what something is worth. I want it and I need it but apparently the want and need are secondary to what all the self professed experts say it's worth." That seems to be the cry of far too many postings. Therefor, my question. I've sold quite a few collector cars over my lifetime and have yet to notify anyone or any publication what I sold them for. Is there a central authority that I should notify to report the price received for the latest car sold~? How accurately and thoroughly should I report the condition of the item? I personally don't give a flip what anyone thinks the value of a particular car is. If I like it, and I want it, and I have enough money to buy it, I'll decide what it's worth~!

[52-fan]

When all is said and done, the only thing important is that the buyer and seller are satisfied. The prices guides seem to be based mostly on auction results and don't reflect actual hobby sales that go on daily. There is no central authority for what any used/old item is worth. If the price is too high for something you like, walk away. If you want more for an item than you're offered, keep it. Eventually, it all works out if you are patient.

[studeclunker]

If you are trying to sell something and it doesn't, chances are your asking price is too high. There are numerous examples of this throughout the net, and especially on the 'bay where things will cycle over and over again for several years sometimes. Nothing is worth more than the buyers are willing to pay. I don't care how many zillions some sucker was willing to pay at a high-profile auction.

[E. Davis]

Studeclunker is exactly right. I have bought several cars(before I got smart) thinking I got such a good deal on them that surely I could flip them for a profit. Never happens, never will. The buying public is pretty astute when it comes to values and rarely will they over pay for a car unless it satisfies some itch that won't otherwise be scratched. The market will always determine the price.

[JRoberts]

One of the first things people ask me about either of my Studebakers is what is it worth. Sometimes what they think it is worth is much more than I would ever ask for it were I to try to sell them (no I am not selling them!). My usual answer is that I am not sure since I am not trying to sell them and that they are worth depends on how bad you want to sell or buy them.

[jclary]

.... I personally don't give a flip what anyone thinks the value of a particular car is. If I like it, and I want it, and I have enough money to buy it, I'll decide what it's worth~!

To me, it looks like you have the answer already. The same principle should work whether you are a buyer or seller. Anyone confident of the above quoted statement, should state their price, and accept the results...rejected or accepted. It is the way mature adults should conduct business. Where it goes off the rail is when one party gets emotional and angry when things don't go their way. Especially when the seller makes a vague statement like "make an offer," and becomes upset when the offer is low. My view is that a seller needs to set a price, and then signal he if he is willing to negotiate.

[ken-renda]

"I'm having a terrible time deciding what something is worth. I want it and I need it but apparently the want and need are secondary to what all the self professed experts say it's worth." That seems to be the cry of far too many postings. Therefor, my question. I've sold quite a few collector cars over my lifetime and have yet to notify anyone or any publication what I sold them for. Is there a central authority that I should notify to report the price received for the latest car sold~? How accurately and thoroughly should I report the condition of the item? I personally don't give a flip what anyone thinks the value of a particular car is. If I like it, and I want it, and I have enough money to buy it, I'll decide what it's worth~!

You have raised interesting points as to value and selling practices. My thoughts are, as to "value", on line web sites are so conditional on actual "condition of car" that they are nothing but a starting point. As to "how accurately and thoroughly" a seller should be; I have found that the Studebaker collector is a minority generation that still believes in the meaning of integrity and treat them that way. And finally, I agree with your last sentence, if I want it I buy it. Anyone trying to make money off a through restoration of a Studebaker should instead find a Ford or Chevrolet. Ken, Titusville, Fl

[Avantidon]

I have always operated under the philosophy that the "correct" price is simple to determine for any item no matter if it is a house, classic/antique car or a tree stump. That said, it is what a willing buyer is willing to pay a willing seller for that item. I have bought and sold multiple cars over the past 50+ years mainly Studebakers but others as well and that philosophy has worked. Yes, there are price guides out there and probably one of the best is Dave Kinney's quarterly guides put out by Hagerty but they are guides and guides only.

[jackb]

As I reread your post what I get out of it is you're having a terrible time not giving a "flip" about something ?!?

[Don Kelstrom]

I got a call from Hagerty when I sold my Studebaker asking if I was willing to give them the sales price and condition. Looks like they are doing their best to keep their price guides as accurate as possible.

[Hallabutt]

I personally don't give a flip what anyone thinks the value of a particular car is. If I like it, and I want it, and I have enough money to buy it, I'll decide what it's worth~!

If you are looking for some support for your original statement, here is mine. I've never been a bottom-line kind of guy. If money was my prime mover I would certainly not have gotten into old cars, and certainly not Studebakers! Your statement above about says it all.

I hate it when someone asks me what I paid for something, or what it's worth. I understand that for the uninitiated money is often the only way that they gain perspective on what they are looking at, so I try to consider the source and try to be as honest as I can. That doesn't make me like it any better though! When we open the collection for a tour of car people, who should know better then to ask, I indicate that they can ask me any question except what did I pay for it, what's it worth now, and is it for sale. I also dislike the statement that everything is for sale, and that price is the only consideration. When someone indicates, by word or gesture, that they should be able to dictate the sale of something that I'm not interested in selling, I try to change the subject. If the guy persists I end the conversation. I try to do courteously, but also try to make it clear why I'm doing it. I don't like it when someone thinks that they should be able to dictate my selling of something that I don't want to sell.

On the flip side, I don't like it when someone says that a car or part is for sale then asks me to make an offer. Then when I make an offer he bristles at it, and takes it personally. If the guy knew all along what he wanted for it, why not just come out with it? If he truly doesn't know what it's worth, I try to give him an honest figure. I am not a horse trader. I don't want to cheat anyone, and I try very hard not to be cheated. I have often paid more then the sellers asking price, because I thought it was worth more. My bottom line is your original quote.

[52hawk]

This reminds me of a time,years ago.I had a body shop and small used car lot.Guy comes in one day with a gorgeous Ford pickup,wants to sell it[now,being a dealer,and able to buy at auctions,plus knowing this guy to be particularly hard to deal with,I told him I wasn't interested.] So he hung around,just badgering me to make an offer,for about 10 minutes,he just wouldn't give up!!
Being a 5k truck,I finally said "ok,I'll give you an offer: 1k... I thought this guy was going to go berserk!!! I got a good laugh that day!!!

[acolds]

The selling price of collector or hobby cars by the owner is higher than actual value do to owners feeling toward the car. When something happens to them the family or who ever gets the car will part with it for less money just to get rid of it. Collector items be they cars, guns or trains all of which I have direct or indirect connection with go down in price when owner dies.