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Sentimental value,labor value, and other factors you consider when selling

Discussion in 'The Hokey Ass Message Board' started by dallasdrifter, May 8, 2011.

  1. dallasdrifter
    Joined: Apr 7, 2011
    Posts: 72

    from dallas tx

    I was thinking about selling my falcon after I primer it so I can put the money toward's a custom car build I want to jump on. How do you put a number on a car that cost you blood, sweat, and countless hours making your old lady think you are avoiding her? What other factor's are considered in pricing since current market value is not applicable. the car in the avatar is not mine. don't get confused. lol
    Last edited: May 8, 2011
  2. dannyego
    Joined: Mar 12, 2008
    Posts: 1,387


    It's worth what someone will pay. "sweat equity" is B.S.
  3. billsill45
    Joined: Jul 15, 2009
    Posts: 784

    from SoCal

    Old saying: "What ever the market will bear". The prospective buyer doesn't care about the intangibles ... just how much of his hard-earned dollars he is willing to part with to have the car in his driveway rather than yours.

    You should have a good idea of what your $ investment in the car is. If you can't come close to that number with a selling price, you might be better off parting it out.
  4. Your blood, sweat, and tears aren't worth fact now that I know you bled on it my offer is half....;)

  5. gimpyshotrods
    Joined: May 20, 2009
    Posts: 18,469


    You can only count the cold truth. What do does the same model in similar condition go for on the open market? Set the price there.

    Most project cars are by no means an investment. Unless it is some really rare, in demand vehicle that is rapidly increasing in value, you don't "invest" money in them, you spend money on them. For the most part, plan on losing most of that money.

    Building cars, unless you are doing it as a business, are largely a way of making money disappear.
  6. Those items wouldnt mean shit to you on the one you wanted to buy would it ?
  7. NMCarNut
    Joined: Nov 28, 2009
    Posts: 632


    Have to agree with the rest, "sweat value" and "sentimental value" may mean alot to the seller but unfortunately mean little to nothing to the buyer.
    Quoting the one person I've known who really made decent money in buying and selling cars who would try to beat in my head, "The more you do to a car the less you will make."
  8. rosco gordy
    Joined: Jun 8, 2010
    Posts: 648

    rosco gordy

    Some of the prices are FRU%$^& insane but I guess what ever... just sold my drag car the guy was excided, payed my price it was fair no show car said it was just what he was lookin for ya always have a little seller remorse but in 40 yrs it has let me stay in the hobby and have a blast but ya know when there done...... there done, I guess I like the hunt and workin on em ....hey I,m nuts
  9. The37Kid
    Joined: Apr 30, 2004
    Posts: 28,264


    In this case there isn't enough emotional value IMO. If it was a car your Grandfather bought new 75 years ago and it served the family well that is one thing, but this car sounds like a project most of us have had and also desided to part with. Put a fair price on it and move onto the next project. :)
  10. Brad54
    Joined: Apr 15, 2004
    Posts: 6,015

    from Atl Ga

    What is this "selling" you speak of?

  11. Deuce Roadster
    Joined: Sep 8, 2002
    Posts: 9,519

    Deuce Roadster
    Member Emeritus


    This shot up, has not run in decades 34 Ford is the least desired passenger car body style that Ford made in 1934. :)
    ... It is ALSO most likely the most valuable 34 Ford on the planet.

    Other factors bring the price of a vehicle up. Sentimental value and to a lesser extent ... your labor ... has very little to add to the value.

    CONDITION and the vehicle set the value.
    Rarity and rare parts facor in.

    Either keep your sentimental value ... or sell it for market value and build sentimental value with another car. :D
  12. 40fordtudor
    Joined: Jan 3, 2010
    Posts: 2,503


    NMcarnut is right----there is only one way to make a small fortune in building cars; start with a large fortune.
  13. When rationalizing my hobby, I like to think in terms of Golf as a hobby =10.000 or more to join a club,(initial cost of car) 1500/yr green fees (upgrades, tires wheels etc) oh yeah,I forgot about clubs,shoes, polyester clothing. 2000 (tools) remember if you sell off your golf clubs to upgrade,you get pennies on the dollar for them. Probably a weird analogy but it works when talking to non car people.Sorry, I kinda went off the road there for a bit.
  14. squirrel
    Joined: Sep 23, 2004
    Posts: 49,509


    If you actually want to sell the the car, then current market value is the ONLY thing that sets the price.
  15. Larry T
    Joined: Nov 24, 2004
    Posts: 7,669

    Larry T

    When selling a car, it's worth market value.

    Is a car worth more because of the work and detail you've put into it (as compared to a similar car that hasn't had the work and detail done)? It is in this part of the country. That's why cars are graded on condition in car price guides.

    Is a car worth more because of the sentimental value? Just to the folks with a sentimental attachment.
    Larry T
  16. I've had a couple offers to buy my car. What I say is "For what it would cost you to get me to part with this car, you could buy a nicer one from someone looking to sell."
    Everyone puts time and effort into their car, and you never make money on your sentiments.
    Joined: Jan 13, 2004
    Posts: 2,760


    I do not fall in love with any of my cars. I like having $ in the bank and knowing I can buy whatever I want.
    The more you personalize a car the less $ profit you will get.Some people want a straight body ,others want a stout drivetrain. Some I turn with a few hundred profit , some are in the thousands, some I just eat it and go on.
    They are just like women,I can always turn the corner and find another one that I really like.
    I find that I like to use preowned stuff for most parts,after it's installed the preowned looks just the same as the new would.
    Sell-em, chances are you'll get the opportunity to buy it back someday.
    I never have more than one project at a time,Very important if you ever want one finished.
    Last edited: May 9, 2011
  18. R Frederick
    Joined: Mar 30, 2009
    Posts: 2,658

    R Frederick
    from illinois

    You guys are doing it wrong. There are guys out there with a year of hard labor and less than $5k in a decent driver. It doesn't have to be a high dollar street rod to be worth some $$. Swap meets, classifieds, paint, and polish can make a pretty desireable car. I've had luck doubling my dollar investment on hobby cars (of course, labor not counted). I'd never make enough money to cover any labor, but it's not a financial loss.
  19. 40FORDPU
    Joined: Mar 15, 2009
    Posts: 3,122

    from Yelm, Wa
    1. Northwest HAMBers

    Take the emotions out of the equation, and be realistic of it's true value. No one is going to pay you for your troubles, only what the worth is, of what you are selling.
  20. RodStRace
    Joined: Dec 7, 2007
    Posts: 2,650


    Yep, unbolt the sentiment and set it on the shelf for the next car...
    If you can't, it does not add value.
    That's why I still have my dad's OT car sitting in the back yard.
  21. dawford
    Joined: Apr 25, 2010
    Posts: 498


    Money is sweat equity in paper form.

    The appliance repair man, the gardener, even the stock market investor has time and energy invested in the cash he has to buy his dream car.

    If you want to save your sentimental value don't sell the car.

    The only kind of money that isn't sweat equity is that which is inherited, gifted or what I call good fortune money.

    Several times I have had the good fortune to fall onto a real buy.

    The box of early Ford shocks for $2.00 at a garage sale or the $100.00 Browning automatic shotgun that the animal lover won as a door prize.

    Some fall into an early ford buried under 50 years of junk in a garage some where.

    I have bought things that I didn't want for myself simply to use for trading fodder of to sell for a profit simply to finance something that I really wanted.

    Anyway Labor value is only worth what ever increase in value that you have made in your car between what you paid for it and what it is worth today.

    If you paid too much for it to begin with you may lose all of your work equity.

    When the economy is hurting as it is today hobby car values decline because the number of potential buyers decline accordingly.

    If your next project will bring you more satisfaction than what you have take what you can get and move on.

    My advise is worth what you paid for it.

    Dick :) :) :)
  22. So how do you put a price on something that intrinsically isn't worth much on its own, but now that it is more or less "done" and can be driven? My 49 is a great example. I bought the remnants of the 49 out of a junkyard pretty cheap, and cut up a 95 Dodge Dakota that I had also picked up fairly cheap. BUT we have lots and lots of hours in cutting & fabricating and sticking the two together to make one truck. I'm eventually going to sell it, but for how much?

    The insurance company asked me to put a number on it so that they could give me a quote and so far I haven't been able to come up with something realistic. If it were a 32 highboy, or a 55 F-100 it'd be easy to find comparable cars and trucks in magazines & on the 'net to get a price/value. Any help?
  23. Stick a "For Sale" sign on it and see what kind of numbers you get. I have found that a lot of guys do this just to get an idea of what their car is worth.
    My car to me is worth more than what the market value is on it, without question. Dollars and cents don't matter to me because I have no intention of selling it, unless someone really blew me out of the water with an offer.

    I did the same thing with my classic car insurance. I put a number on it, sent them pictures of the car and they agreed. I aimed a little high based on if I had to start over from scratch and build a car just like what I have now, what would it cost today.
  24. PhilJohnson
    Joined: Oct 13, 2009
    Posts: 906


    In my experience vehicles that have had frame swaps done are not worth nearly as much as a vehicle that is mostly or all original. Without pictures it would be difficult to make a guess as to what your truck is worth.
  25. Rich Wright
    Joined: Jan 9, 2008
    Posts: 3,922

    Rich Wright

    When I sell a car/truck I price it the way I think it should be...If it doesn't sell or get any looks then I have to decide how far to lower the price. That means trying to find the balance between how badly I want to sell it VS how badly I want to keep it.

    Sooner or later...I find the right price and buyers start looking seriously.Or...I discover the bottom is lower than I care to accept and I keep it.

    What I have invested in money and time has little to do with the process.

    A friend who owned a Chevy dealership for years before he passed away once told me..."There's an ass out there for every seat on my lot, it's just a matter of bringing the two together".
  26. dallasdrifter
    Joined: Apr 7, 2011
    Posts: 72

    from dallas tx

    I guess old car's are a balancing act when it comes to selling and who you sell the car too. I know what I want for the car, and I know about what it's worth when I compare it to other car's in the same category. I guess i'll find a median price or just pay some more storage fee's :p
  27. Hdonlybob
    Joined: Feb 1, 2005
    Posts: 3,950


    I have always said a good deal is when the seller and buyer are both happy.
    I have sold some things short of value (when I had squat in them) and made a healthy profit on others.......
    Your car, your deal, and you are the only one that needs to be happy.....
    I do however agree, sentiment and labor are a "O" effect on price...
    Good luck.
  28. RJP
    Joined: Oct 5, 2005
    Posts: 1,953

    from PNW

    its a hobby. with a hobby you usually lose money. if you're looking for profit, make it a business.
  29. bykerlad
    Joined: Mar 14, 2009
    Posts: 260

    from australia

    With a car you have three options 1 what the seller wants 2 what you want to pay 3 where you settle in between
  30. Von Rigg Fink
    Joined: Jun 11, 2007
    Posts: 13,426

    Von Rigg Fink
    from Garage

    your price is the only one that counts, not saying it will get sold at that, but..that is your call

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