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Projects Project abandonment issues...

Discussion in 'The Hokey Ass Message Board' started by Carguy365-24-7, Jan 2, 2009.

  1. Carguy365-24-7
    Joined: Mar 25, 2006
    Posts: 909

    Carguy365-24-7
    Member

    For three of the last four years I have been working on a '50 F-1 project for a good friend.He inherited a large sum of money ( in stocks) and decided he wanted me to build another truck for him( I did a '60 f-100 for him long ago) .We found a complete 3/4 ton truck as a foundation.He wanted to have the badest truck in town so we ordered a frame from TCI ,a 4.6 L Cobra motor from Ford motorsports ,a pro-charger supercharger,glass fenders,pro's pick box ect.....Using only the cab from the original truck I chopped 2 in. put in new floors ,firewall ,shaved the hinges and handles .The plan was to mock the truck up to the point that it could be driven and let him drive it untill I get a different house ( with a bigger garage) . At this point it needs to have the wiring finished,the front clip installed ,the supercharger and intercooler fully installed ,the box bolted on ,a fuel cell made and plumbed,wheels and tires .Needless to say it does need alot of work to get on the road . Well my friend has come down with some medical issues and needs to stop progress on the truck .At first he had his mind made up to just sell it as is and walk away.I convinced him to wait 3 months and see how things go but the writing is on the wall.He has been paying me hourly since the start and yes I will miss the money but going from working on it 2-3 hours a day for 3 days a week to nothing just bums me out big time .I look at it as now I can focus on my house ( get it ready to sell ) and my "49 Fleetline.
    OK OK i'll get to the point .What is the best way to sell this project? Do we part it out? Sell it as a project vehicle? He has to have 35 K in parts not to mention my labor ,what can He expect in return? I have abandoned a few projects in my past and my friends still ride me about some but I've never invested so much into a project ...Anyway any insight would be appreciated.....PAUL
     
  2. Fatbob309
    Joined: Jan 1, 2009
    Posts: 491

    Fatbob309
    Member

    I run into this all the time in the Jeep world. People spend 20K on their rig and then when it comes time to sell it they cant get near the money back out. Most of the time is seem better to part it out than sell it as a project. Thats what I did with mey last rig.
    Good luck.
     
  3. Humidi-T
    Joined: Dec 29, 2008
    Posts: 20

    Humidi-T
    Member
    from Louisiana

    Part it out. It'll take more time and effort, but at least it will move. You can e-bay each piece. Selling it as a project will either take a heavy loss, or take forever to find someone who wants that particular truck with that combination.
     
  4. dannyego
    Joined: Mar 12, 2008
    Posts: 1,387

    dannyego
    Member

    O would finish building it, then sell it. Have him pay you from the money he makes. Youll lose your ass parting it out or selling it as a project. I just went through this with a buddy that had $15000 in his 53 chevy. Once he started getting offer for it as a project and so what the parts were going for, he decided to finish it and then sell it.
     

  5. 39 All Ford
    Joined: Sep 15, 2008
    Posts: 1,531

    39 All Ford
    Member
    from Benton AR

    Building a project car is kind of like going to Vegas, if you can't afford to take the loss, leave your money at home.... and,,, since you are going to loose your ass, at least do your best to enjoy the trip...

    I am sure that on occasion a person might get their money out of a project vehicle, but again, it is about like leaving Vegas a winner, sure it happens, I just heve not ever seen it... :)

    I like looking at the cars for sale on e-bay that never seem to meet the reserve.... "Wanting" 60K for your project is a hell of a long way from getting... " :)
     
  6. 61bone
    Joined: Feb 12, 2005
    Posts: 890

    61bone
    Member

    Not going to come out regardless of how you do it. Your best bet is to part it. Your labor is gone and will never be replaced.
     
  7. Larry T
    Joined: Nov 24, 2004
    Posts: 7,667

    Larry T
    Member

    If you can get someone who wants the project, it's probably the best way to sell. That way you have a chance of getting part of your labor back.

    If you have to part it out, you'll lose all of your labor and the labor of taking it back apart.

    If he's lucky, he might be able to sell parts for about 75% of what he paid for them. If someone is going to pay full price for a new part they'll go thru a dealer to get the warranty etc.
    Larry T
     
  8. Tried parting a car out recently - got TWO inquiries on it! Ended up keeping the engine and transmission and selling the roller to a demo guy...then I sold the engine and trans afterwards!

    You have the same problems selling parts, or the entire project whole. You WILL lose money, period. What's easiest for YOU is what matters.
     
  9. Parting a car out is more work for less money per item - there's no guarantee you can sell all the parts, or sell them all reasonably, and each part you take away makes the entire vehicle worth a little less and that much harder to sell.

    I'd offer it complete and state you'll be willing to keep motor/trans/whatever and subtract X dollars from the final price. If nothing else it's the laziest way to do it.

    I think even finished up you'll lose your shirt in this market - but finished up is the best way to sell any car, or at least so it will run and drive. Everyone else is lazy, too, plus if it can't run then they wonder if the motor/trans/etc is any good.
     
  10. It depends.

    I'd try to sell it as a roller, no drivetrain. That way you appeal to more buyers. But the truck has to be in rolling condition, wheels, rearend etc. if they have to dollies or something you are going to get peanuts.
     
  11. Carguy365-24-7
    Joined: Mar 25, 2006
    Posts: 909

    Carguy365-24-7
    Member

    Thanks guys! I'll have to talk to him about selling it complete .I'm thinking about making a deal with him ,If it doesn't sell as a complete truck in a predetermined amount of time I could part it out and E-bay the parts for a % of the sale in exchange for my time removing parts ,listing them and for shipping them out.PAUL
     
  12. 39 All Ford
    Joined: Sep 15, 2008
    Posts: 1,531

    39 All Ford
    Member
    from Benton AR

    Or,,, just keep working him till he lets you have it cheap enough to be worth your while... On the surface it sounds like kind of a cheesy thing to do to a friend, but then he will likely let a total stranger get it for the same or more likely a better deal when everything is said and done,,,

    a friend should give you the benifit, especially since you have been, and likely will be dealing with the truck for some time to come....

    Get it cheap enough to cover all of your bases, and if, and then, and ONLY if things go well on a sale, then be generous with your friend and share the procedes, but without ever making mention of this possible windfall for the seller up front lest he expects it.....

    A good friend should only expect you to hold your end of the bargain... anything extra is GRAVEY...
     
  13. Carguy365-24-7
    Joined: Mar 25, 2006
    Posts: 909

    Carguy365-24-7
    Member

  14. 29nash
    Joined: Nov 6, 2008
    Posts: 4,544

    29nash
    BANNED
    from colorado

    craig's list. "For Sale, F-1 Project, all, or might part-out. see picture. Send offers/wants to xxxxxxxxx. Will get back to all responders in xxxxxx days."
     
  15. bryan6902
    Joined: May 5, 2008
    Posts: 1,137

    bryan6902
    Member

    The most I would part it out is pulling the motor and related stuff, supercharger, intercooler etc... Some Mustang guy will want that, sell the body and chassis seperately. YOU WILL BE LOSING $$$$$$$ ON THIS!!!!! This is the reason if I ever come into a large sum of money I will be looking for a finished car. You can always buy em cheaper than you can build em! Projects aren't bad but you get to put a little in at a time rather than a large sum all at once.
     
  16. Sir Woosh
    Joined: Dec 1, 2008
    Posts: 2,273

    Sir Woosh
    Member

    Sounds like nearly every angle has been covered. Main thing is, hang in there. Breaks my heart to see dreams shattered like this. Simply put, I'm pulling for the both of you............
     
  17. Carguy365-24-7
    Joined: Mar 25, 2006
    Posts: 909

    Carguy365-24-7
    Member

    Thanks guys! I can always count on you! PAUL
     

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