Projects What the heck happened to asking prices??????!!!!!

I've spent 5 years more or less out of old car world since the county decided I couldn't have my parts car stash....

Recently I've cruised classifieds here on HAMB, Craigslist, etc. Good lord, do people even get 1/2 their asking price? And stuff just seems to be advertised and not sell. Its like insanity. Did all the cable TV car shows go to people's heads? Is the new game to advertise for a pie-in-the-sky-price and settle for three feet off the ground?

I really can't imagine much selling at these advertised prices, even figuring for negotiation-room.

What is going on here?

 

Have you gone to the new car dealers or parts stores lately? If you think old stuff is expensive, try new stuff.

 

There are, and always will be those dreamers who think their car is worth far more than it actually is.
There are also exceptions..if you're in the market be prepared with cash in hand, and ready to go at a moments notice, as the deals go quick.

 

It’s the “reality shows “ Barrett Jackson , I think COVID and folks getting ass over teakettle on there finances all is playing a role in it .

my local classifieds about a year ago I was seeing big dollar 6 figure cars pop up regularly. When that was never the norm. These cars I think are folks who leveraged their homes equity for toys and due to COVID are out of work and in trouble .

I also have seen lots of barn finds and estate cars etc start out high and stay advertised for a bunch of months to finally settle on a normal price . I think this is sadly the stewards of our hobby getting old and either passing on or no longer able to enjoy their rides so family liquidates and looks at the internet for pricing and magically anything older then 1979 is worth $2456789965433.00 dollars !!

everything has gone up , just look at 80’s mustangs snd camaro pricing !!!!

deals are still to be had just gotta look and be patient.

 

Dont like the price you see--- just move on

 

Look at some real estate prices in the last year. Some of it is up 100% in the last year or so.
It’s a weird market lately, you’re right though, I do see some crazy asking prices for stuff that really shouldn’t be that desirable.
I don’t see the “Good Stuff” getting cheaper anytime soon. I cringe when I think of some of the stuff I’ve sold in the past. Plowboy just sold his ‘34 3-window project for what he and I both thought was good money and it sold FAST. He could have easily got more if he would have wanted to wait it out and deal with it. On the other hand he also scored a really nice car for what I think is a steal too. You just gotta be diligent if you looking to buy stuff.

 

A one-and-done visit to the Hamb vehicle classifieds can give the impression the sky is falling. But this is a false impression.

A listing in the Hamb classifieds costs nothing to post, so there will always be a preponderance of dreamers continually re-bumping their overpriced ads. But if you actually follow the classifieds for a while, you'll see that well-priced vehicles crop up regularly and sell quickly.

Bottom line, good stuff moves off the board fast, while bad stuff lingers and stinks up the joint. I wouldn't try to read any deeper "market trends" into it.

 

If you really want to know what the market is (specifically for parts), go on eBay and do a search for sold items. Asking price means nothing. Good deals sell fast and overpriced shit lingers, so most classified style listings only show the shit that no one went and bought.

But the prices are up and there is definitely some pretty good money being spent. Lots of buyers are willing to pay very handsomely if you have what they want and are willing to ship it to their door. That convenience is value-added, sometimes double the price or more. If you're the seller, take advantage of that fact.

I'd also like to really rub salt in the wounds of all the people who said 10 years ago that in 10 years no one will want this stuff and it'll all be getting sold off for pennies. I take great joy in saying "I told you so" to those people.

 

I think that is spot on. I see things advertised at like full retail-nice price regardless of condition - even rough junkers.

 

It is a little discouraging to see project cars that need everything with asking prices that would buy a finished car 5 years ago.

Not so ridicules here on the hamb but FB and Craigs list is insane. HRP

 

Yes, it is definitely a seller market, and has been for awhile now. Prices are up on literally everything, especially cars. New, used and old, they're all up. This is not a time to buy, unless you find a deal, otherwise just sit tight and wait for reason, and supply, to come back around.

 

Here's the deal the way I see it. The market finds the right price. That price being one that is agreeable to both seller and buyer. Current conditions on almost everything we buy has inflated costs. That trickles down to the used parts and cars as well. See the late model used car market as example.

The key is having educated sellers and buyers. Sure some sellers are fishing. They are the not sold listings. Educated sellers know what the right price is, and educated buyers know what is the right price. That right price is where the market ultimately finds the transaction point.

Ultimately a fair price for the conditions at the time is found. Some sellers will sit on stuff, some will get their moeny and be happy with the sale. Same with buyers, some keep the money in their pocket, and some are happy with their recent purchase.

 

I bought my 40 merc last year for a deal . I didn’t steal it but under market value for sure .

the guy I bought it off of sold my more door and a Tudor merc at the same time for roughly the same price . ( he kept a 40 merc coupe and a stude pick up for himself lucky duck to own 3 40 mercs at the same time !)

anyways the guy who bought the Tudor did a few mods and tried to double down and sell it at a profit .

it was for sale for the rest of the season and disappeared from the local classifieds, I’m waiting to see it pop up again .

as has been said , the market is looney right now , but deals are still to be had you just need to be quick to react with cash in hand .

 

I can't count the number of times I've seen something listed on "F-book" where the owner refuses to go down on the price because they "know what they've got", yet the item has been listed for a year if not two.

In today's environment if you want to find a good deal it is all about "networking", nothing replaces "beating the bush".

 

My coupe is in the classifieds at a reasonable asking price for a turn key proven driver.jmho. Snowman ⛄️

 

Food & fuel are through he roof w/no end in sight. So.....................adjusting for inflation (inferno) this is where we ALL are. Wait 'till May when another round kicks in. And the OP does not appear to be complaining. So telling him to move on is a bit of a reach. Speaking of reach, ya better reach deeper each week into wallet. Food, it's what for dinner.

 

If you don’t like the asking price, make an offer. The starting price is always too much.

 

Yeah, I've been watching a few vehicles on craigslist that have been up there for quite some time, at a price that I think is twice as much as they should be. I'm tempted to call them and give them a standing offer, when ever they want to sell the car, I'll have X amount of $ in an envelop waiting for them. every few months, send them a photo of the envelope I'm not talking about perfect looking cars either, one of them I'm watching doesn't even have an engine, lol

I don't like negotiating prices, buying or selling. I think if both parties think the price is fair, that's the price. But seem like lately folks selling seem to have an inflated idea of what they are worth. Maybe it's time to start honing my negotiation skills, haha

 

I don’t fault anyone for putting a price on anything, but what gets me is a high price that is “non negotiable “ and “must pick up no shipping”.
I don’t know about vehicle pricing the past 10-15 years, I don’t need another project. But I try to keep up on parts pricing and they too have escalated.
But (for parts) what’s the alternative? Do you go from swapmeet to swap meet for two years to find what you’d want at a price you want it for, or just bite the bullet and be able to move forward?

 

So you wan’ta buy a rod ? in this day and time ,? if you can find a well built rod , but you think is over priced ! You gotta pay up or shut up . Sorry ,,,,but this is a expensive $$$ hobby ,I guess you ain’t built any hot rods lately ??? .i ain’t sayin it’s right , just sayin that’s the way it is !!!

 

My 3 point rules for buying parts:

1. No impulse buys unless it's an absolute great deal.
2 Always have the cash on hand for when the great deals present themselves.
3 Keep your ear to the ground and network with your buddies. Everyone is looking for something so help each other out.

 

You can blame some of this on the 'patina' craze. The owner looks at his long-dead rusted-out POS with no floors or rockers and figures with a set of wheels it'll look just like a patina rod, with no clue as to how much it costs to actually make the vehicle road worthy.

 

It is odd, those who have things for sale say “easy patch/rust fix-etc”. If it was easy they would have done it

 

Exactly. Prices WILL come down. All you have to do is wait 10-20 years, when all us old guys are gone, and our widows will be flooding the supply market with some pretty cool cars

 

Basket cases aka projects prices are out of site. No way I'd pay for rust buckets aka Patinas but then again I'd ask top dollar for '58 Impala if I ever decide to sell.

 

No... I don't care what anybody says... you're absolutely right... It's f'n insane.
Like somebody flipped a switch.
The wrong switch.

 

What's with gas prices lately? Over 11% inflation? $4 for a gallon of milk? But a perfect 40 Ford wheel isn't worth $100? It should stay at $20 forever? How come that running 32 3W hot rod that I could buy in 1989 for $12,000 now has to cost me over $60K?

Ok, again, and as usual. The economy is in the shitter. Go back and examine asking prices pre-1981, then check in 1983-4-5. Look at prices just before Desert Storm. You couldn't pay ENOUGH for a car. The market shut up, introverted. 'Roundabout 1993-4, hang on. Then tech stocks, introverted again, then late 90s to the default debacle, yee muthafkn hah! Then we got 2 years of panic sellers, and oh boy here we go again. Then 2017-BC (before covid) til late 2020, quiet again but parts went silly. Stuck at home will do that, no? And here we are again in the shitter and it all rises. Meaningless rise really. Once sold you won't buy "up" on the money, but these are and always will be finite TANGIBLE ASSETS.
Now some will beat their chest like Kong, "Oh I don't care what my car is worth..." " I'm not in this to make money..." but you'll fuckin eh ask every dollar of market rate if you did sell. Liar if you say no. It is what it always is, a terrific hedge against inflation whether you like it or not. Some do better than others, that's the game. Step up or step aside is the only answer. You almost can't pay too much, but you might buy a little early. I don't recall who said that 1st but it sticks.

Next...

 

Pretty scary when you think the the SBC is almost 70 yrs. old, and the last 327" was made
50 yrs. ago. I think GM announced that they would be dropping all V8's from production in
just a few years. "Old" parts and motors will become even more valuable than before, sending
prices up even more.

 

potential buyer: how much ya asking? / seller: how much ya got?

 

If the price shocks you today you probably shouldn't look again tomorrow!