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post #9 of (permalink) Old 04-30-2019, 05:26 AM
Erik L
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Join Date: Aug 2007
Location: Atlanta
Posts: 334
Garage
Quote:
Originally Posted by BobWeber View Post
I've been saying that exact comment regarding home sales: it's worth what someone is willing to pay for it. But this car, though higher mileage, presents itself so well. Clearly, he had no takers at the $34k original asking price, which in itself is extremely reasonable, thus the lowering to $33k. Hagerty puts 'excellent' cars at $40k (based on actual sales) and I'd say this car is excellent by any measure.

However, replacing carpets and refurbishing the interior begs the question 'why'? There might be more to the story.

One thing that is different about homes and cars is the mortgage.

Bank wont lend you more than the home is worth so its kind of a "check" on the asking price. At least if you are paying attention and its a standard type home that can easily be 'valued'...

that may be over simplifying - In my experience when I tried to buy a house where the owner was asking too much the bank politely declined because the 'comps" did not support it.

With old cars most people are not getting that kind of loan or paying cash....so you have an opportunity to be irrational! :-)

94 Esprit S4 - Silver
Previous - lots of hot rod Air Cooled 911s
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