Ok, out on the hunt again. This time: 1974 dark green ( code 49) Delta Royale convertile (65,000 miles), 350, no air, Good repaint with some scratches. Chrome and glass in good shape. Power bench seat.
- Problem items:
-convertible top had hole back rear passenger from critters along with chew marks around glass window stitching ( pity because top was in really good shape)
- radiator and water pump were leaking
- white body molding along passenger rear off but intact
- radio,clock and power trunk not working
- rear passenger window off track
- cracking, bubbling paint on bumper fillers
- interior dirty but no cracks
-I viewed the car in summer and he wanted $10,000....no deal
-Guy texts me last week and looking for $8,000. I told him from what I remembered from the summer viewing, I thought the car was a condition 3 and it was worth between $6,000-$6,500.
-got a text yesterday, would I pay $7,500 . I explained why I felt car didn't rate that price ie, comps, condition, economy etc...
-last night another text- would I pay $6,800 ? Told him " let me come see the car again to refresh my memory and better judge car before commit to firm price.
-Just back home after 3+ hour roundtrip. No deal. I'm at $6,000. He's at $6,500. Sounds silly to walk away over $500 but I'm looking at repair/improvement costs and what this car would realistically bring in resale. Normally, the $500 wouldn't stop me but with economy and resale market, that $500 broke any deal.
Should I have done the deal, walked away or wait for another ( and possibly better) opportunity during the long cold winter ?

PS. car pictured is not actual car but same year/color/condition

 

Let me guess, a car just like this, or one that had either Oldsmobile or Delta in its name, or was green, just sold on Barrett Jackson for huge money, and this guy is convinced his car is worth the same amount.

You had some really good reasons as to why you'd let 500 stand in your way when ordinarily it wouldn't. What were his reasons for letting 500 stand in his way?

My feeling is that if you were just going to fix it up and sell it then you're money ahead without it.


Mike

 

If you are not comfortable you should walk away.

 

Your price is your price........its a buyers market......My Dad has 30K to drop on his dream car....1940 Ford streetrod........Ive bet hes looked at 100 cars and knows what his 30k will get him and some people are offended if he says this car is only worth so much with these options......

 

i bet he calls back and takes the $6000. if he has tried to sell it for that long and now come from $10,000 to $6500 he has discovered the market is not there for the car. you are his only market. i think you did the right thing. it will give you both time to think more about it. even if it is only $500 sometime walking away proves to be worth much more than that down the road. either by him coming down more or something better coming along.

 

The Old Cars Price Guide lists the value of a '74 Delta 88 convertible in #4 condition (runs and drives but needs total restoration) at $3,200. In #3 condition ("car show" condition but not showroom), it's $7,200. There's a lot of room between those numbers depending on the strengths and weaknesses of any particular car.

First, though, no way the car is worth $10,000. He is definitely dreaming there and probably hoping that someone relatively naive would come along and buy it because of its potential in simply being a convertible. But there is a limit to that potential.

Second, based on your description, I would say the car is closer to the #4 end than the #3 end of the condition scale. In other words, I'm not sure it's worth even the $6,000 you're offering. But I haven't seen the car. Having not seen it, though, and going on your description and what it says in this guide, I would say the car is worth more in the $4,000 to $5,000 range.

 

If it were me and the buyer has now contacted you to try and sell it again, I would sit & wait for the price to drop further. he's obviously gotten little to no interest elsewhere, otherwise, he wouldn't have called you back. Wait a week or two, see if he contacts you again, and show up for the car with $5000 if you really want it.

It's a buyers market right now, and the longer it stays that way, the cheaper things get.

On the down side, this also means I'm having trouble selling the piles of my own stuff out of the garage. Go figure...

If you want to do a quick & dirty nationwide search, try using this trick in a google search.

http://lmgtfy.com/?q=74+delta+88+con...craigslist.org

(Showing off a couple tricks at once there...)

Change the year as needed, and add or drop convertible to see what all is out there.
I was able to locate quite a few others in the same price range of $4000-$7000 fairly quickly.

-Jeff

 

Thanks to all for the advice. Emotion drives many a sale so it's good to step back, take a deep breath, get a little objective advice and then proceed. I have to remind myself: car buying is like waiting for a bus. If you miss the first bus, don't worry, another will be along shortly.

 

Hey, I've heard the same analogy applied to women!!

 

Negatory my friend! I've kicked myself in the a$$ a few times! Still waiting for another 62 Vette to show up restored for under 20K!!!

 

Wait it out next week at this time you'll own the car if you want it.

 

Big cars just do not have a good market, so if you are looking to resell, I say 4500 tops!

 

Doesn't sound like it needs that much work

 

If your gut feeling was it was too expensive you probably wouldn't enjoy the car half as much as if you thought you had bagged a bargain.

A car (or anything else) is only worth what someone is willing to pay for it.

Roger.

 

I think it's a smart move to stick to your guns. The more you get him to come down the more you have to work on it with.

 

Trust your instincts. Everytime I have bought a car you just get that feeling that its right or not.