REDLINE RESTORATIONS...my recent experience attempting to buy their 250 GTE! | FerrariChat

REDLINE RESTORATIONS...my recent experience attempting to buy their 250 GTE!

Discussion in 'Vintage Ferrari Market' started by geno berns, May 26, 2012.

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  1. geno berns

    geno berns F1 Rookie

    Oct 26, 2006
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    Geno
    #1 geno berns, May 26, 2012
    Last edited: May 26, 2012
    I been in talks with Mike for a few months and most recently Leigh at Redline Restorations on their 250 GTE they been attempting to sell as a fully restored car for $185K. For many months this is the ONLY way they would part with the car, as a fully restored car restored strictly by them. "No engine rebuild included" is the only piece of information they represented as part of this very ambiguous deal.
    In in the last couple of months they finally agreed to sell the car outright. I was offered the car for $85,000 two months ago, but with out any inventory of parts, just a few pictures of the car and the engine and trans that's out of the car. I finally called and spoke to the owner, as Leigh suggested I should. I was told that I will not be allowed to open the sealed boxes that hold the materials as they prefer not to go through an inventory process again. He thought that there are about 98% of materials needed to put the car together, but was not willing to guarantee any thing, oh and by the way, the price is now $100,000! All along talking to me as he is doing me a huge favor in talking to me. Amazing really!
    I was a bit stunned after getting off the phone. After giving it some though my response to Leigh via email was: Now wait a minute, let me get his strait!! You won't allow any one to spend a few hours going through the materials and now you're bumping the price by $15,000 over the amount you quoted me a few weeks back? He indicated that the value of these cars are only increasing and that is the bottom number he would accept. I promised to send the last email from one of their reps who offered the car to me for $85,000 as proof. A week later after I received no response and after giving it some thought, I called Leigh back. He indicated that since I stated in my email that the fact the price increased by $15,000 was acting unprofessional, I should buy else where. I said that I would like to talk to the owner one more time and may agree to pay the new asking price of $100,000, but had a few more questions. His response was that the owner was not willing to talk to me and I should buy a car from some one else. I said if that's your and the owner's position I will present by case on Fchat for others to see how you conduct your self's with potential buyers.

    Here is this outfits post related to this 250 GTE from a few weeks ago when attempting to defend them self's on advertising replicas on their web site and on Fchat, hence their claim that they want to make sure the car gets restored and not become a donor!! :

    {Redline Restorations
    Karting
    Sponsor Join Date: Oct 2011
    Location: Black Rock CT
    Full Name: Redline Restorations
    Posts: 100

    Quote:
    Originally Posted by tomgt
    So if a client brings a complete 250 GTE (good or bad condition), your company would NEVER build a 250 SWB, or whatever type 250 when he brings 300K USD in a bag?

    We currently have a 250GTE on our site that needs a full restoration. We are selling the vehicle with a restoration only for this specific reason, so that the GTE gets restored as a GTE. We have had several very good offers to buy the car as is but will not sell it unrestored out of fear that it may become a donor for something else.}

    This poor 250 GTE has been apart for 20 years!!! I am willing to take a major risk to get this car back to it's former glory. Most defiantly be upside down after the restoration. If this outfit's intent was ever to get this car restored, it sure does not look that way to me. I love these cars with all my heart and would hate to loose another 250 GTE to a replica or it's engine to a guy with a SWB that he races. I would really like to hear from my fellow Fchat members their take on this latest development as it relates to the car and it's owner.

    Geno
     
  2. alberto

    alberto Formula 3

    Aug 25, 2001
    2,404
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    Alberto
    Geno

    If these guys have such a heavy handed approach, why continue to chase this particular car? Why not move on and continue the search elsewhere?
     
  3. kare

    kare F1 Rookie
    Consultant

    Nov 11, 2003
    3,808
    Try getting the component numbers, should be easy as it is all apart, but isn't happening. I would think that matching number components clearly affects the value of such an old car, so when the seller is not willing to share them for a reason or another, potential buyers start walking away. Best wishes, Kare
     
  4. JeremyJon

    JeremyJon F1 Veteran

    Jul 28, 2010
    7,569
    Calgary, Canada
    if neither is cooperative, then IMO move on, a good seller (serious) would be accomodating and engage you ....i can't abide people playing games when it comes to a purchase (inquiry)
     
  5. billnoon

    billnoon Formula 3
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    Aug 22, 2003
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    La Jolla, California
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    Bill Noon
    Gene,

    Call my cell number when you have a second 619 840 7811.

    Email is off-line for server work until Tuesday.

    Ciao,

    Bill
     
  6. tomgt

    tomgt F1 Veteran
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    Feb 22, 2004
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    #6 tomgt, May 27, 2012
    Last edited by a moderator: Sep 7, 2017
    I was offered this car for 80k and one email later it was 100k...........??????????????!!!!!!!!!!!!!!
    Same car??
    Image Unavailable, Please Login
    Image Unavailable, Please Login
     
  7. geno berns

    geno berns F1 Rookie

    Oct 26, 2006
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    Yes. Duno...this is just NOT how you do business!

     
  8. 180 Out

    180 Out Formula 3

    Jan 4, 2012
    1,271
    San Leandro, CA
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    Bill Henley
    If the owner won't sell for less than $100,000 and won't guarantee the completeness of the contents of the boxes and won't let any buyer inspect the boxes, I'd say the that these conditions dictate what the consignee-dealer can do for you.

    If the dealer and you entered into a contract to sell "as is" with no contingencies, then you might have a breach of contract claim against the dealer. The measure of damages would be the difference between what it would take to purchase a substantially similar car in the same condition, and the $80,000 price that you contracted for with the dealer. Because a basket case project with an unknown level of completeness of the take-off parts is unique, proving the substantial similarity of any alternative deal would be a tricky question. Probably expert testimony would decide the issue. The fees and costs -- and expenditures of time and emotional capital -- of such a litigation would easily outweigh the dollar amounts involved.

    In any event, it doesn't appear to me that you and the dealer had the "meeting of the minds" to an agreement with sufficient specificity to be enforceable.

    It also appears to me that the dealer is dealing with an unreasonable owner, and that this is the source of the problems.

    As others have written, it's best to move on. It is highly likely, if not certain, that you can find a nice restored 250 GTE for less than it would cost to bring this one to the same level of perfection, whether the purchase price is $85,000 or $100,000.
     
  9. amenasce

    amenasce Three Time F1 World Champ
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    Oct 17, 2001
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    Joe Mansion
    #9 amenasce, May 27, 2012
    Last edited: May 27, 2012
    Gene,

    Very unprofessional of them to treat you this way. As everyone here said, dont waste your time and your money with these people. Not only they dont seem to want to disclose what you would be buying for an ever increasing price, they also treat you as if you were just a punk wasting their precious time. Not worth it.
    Buying a car is part of the fun and they are certainly taking it out.

    Andrew
     
  10. Zarathustra

    Zarathustra Formula Junior

    May 7, 2006
    875
    Hawaii
    Full Name:
    Gary Robinson
    Red Line Restorations, being an F-Chat sponsor, should know better than to play these games in an internet world. The corroborating evidence suggests they should publicly apologize and get their business practices in order.
     
  11. Redline Restorations

    BANNED

    Oct 22, 2011
    57
    Black Rock CT
    #11 Redline Restorations, May 27, 2012
    Last edited: May 27, 2012
    Geno, as in previous emails, I had stated that the vehicle would be $85,000 but would be selling it restored at $185K. You had made an offer to one of the owners at Redline that I was not privy to for the unrestored vehicle, which sounded like it was turned down and you stated to me that you would have to stand by your offer. That was almost a year ago and as you could imagine, alot changes in a year including prices. You can not expect that the prices on vehicles would be the same almost a year later, especially if your offer was denied and you did not wish to purse any further discussion at the time.

    Again, we apologize if your experience was less than desirable, but we could provide many references to attest to our professionalism and quality of work.

    You declined the car almost a year ago at $85,000. Then more recently declined the car at $100,000. That is the consise summation of our dealings.


    If I could provide you with any further information or help resolve any issues please feel free to contact us.
     
  12. rob lay

    rob lay Administrator
    Staff Member Admin Miami 2018 Owner Social Subscribed

    Dec 1, 2000
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    why, because you have a car for sale?
     
  13. tomgt

    tomgt F1 Veteran
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  14. geno berns

    geno berns F1 Rookie

    Oct 26, 2006
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    Bill-

    I never implied that there was any sort of contract. I was willing to buy the car as-is and hope for the best result with out having the dealer guarantee any thing...

    Geno

     
  15. geno berns

    geno berns F1 Rookie

    Oct 26, 2006
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    Time out! I just read your post a few minutes ago that has been deleted, signed by a Mike.
    Interesting...
    Leigh told me that Mike no longer works for the company. Since all your posts never have a signature, care to reveal who we are talking too?

    In you post that I no longer see, you asked if you can see an email addressed to me offering the car for $85K, some thing that you deny ever doing. Here it is:
    Hi Gene
    I don't have any pictures yet because the vehicle is in the back of the shop and blocked in by another project. I will see if I can get some as well as the history. We just got it in not long ago and what I know about it at this point is it is a series 2, solid, straight, and rust free. The engine was rebuilt about 10 years ago and there was not many miles put on it after. The owner was going to have us do a Concours restoration on it but then decided to sell it do to personal reasons. The car is in primer and disasembled. Numbers matching with all major components there.

    If we were to sell the car as is it is $85,000. For us to do a full Concours restoration on it would be $185,000.

    Is this something that is in your range?

    Mike

    Mike Coviello
    Redline Restorations
    www.redlinerestorations.net
    Sent via DROID on Verizon Wireless


     
  16. tomgt

    tomgt F1 Veteran
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    Feb 22, 2004
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    Geno, the car is my pics was later offered for 85k.........80 first, 100k.then 85k......all parts were there, matching number engine available.
    To me it is the same car. Have to dig up more pics, cant find them now.
     
  17. Redline Restorations

    BANNED

    Oct 22, 2011
    57
    Black Rock CT
    Yes Geno I erased the previous post because it was lengthy and did not get to the root of the issue. Yes that is the email I sent, I had to research and it took a while due to the email being from almost a year ago.

    Your offer was declined when the car was offered for $85,000 almost a year ago. You then were offered the car at $100,000 when you showed interest almost a year after and declined the offer.

    There is another employee no longer at Redline who was doing sales but I am still there. I put out what the owners advise me to.
     
  18. Redline Restorations

    BANNED

    Oct 22, 2011
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    Black Rock CT
    Also just to add, the determination was made by the owner to sell it restored for the $185k shortly after speaking with you about it and your offer not being excepted.
     
  19. Shark01

    Shark01 F1 Veteran

    Jun 25, 2005
    6,351
    As someone looking around also at the $100k mark, I also would not buy a car and boxes of parts without a bill of materials. However, its their car to sell and they can market it the way they want.

    You try to make a deal, and move on if it doesn't work.
     
  20. 180 Out

    180 Out Formula 3

    Jan 4, 2012
    1,271
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    Hi Geno. I also did not mean to imply that you were claiming to have entered into a contract. I wrote "If the dealer and you entered into a contract to sell 'as is' with no contingencies, then you might have a breach of contract claim against the dealer." And then I wrote that, even if such a contract had arisen, the best thing to do is to move on. Also, that it seems to me that the moving target problem that you describe originated with the owner of the car, not the consignee-dealer.
     
  21. tomgt

    tomgt F1 Veteran
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    It is the same car!
     
  22. luvair

    luvair Formula 3
    Owner Rossa Subscribed

    Jun 4, 2005
    1,582
    +1. Seems you want to win while the wind is in your face. I can understand your feelings, but if no contract, and hearsay info, it sounds to me, this one is not meant for you.
     
  23. Redline Restorations

    BANNED

    Oct 22, 2011
    57
    Black Rock CT
    You were also offered the car from a third party who may have been a friend of the owner is what you told me, so you should also disclose that to the rest of the readers. Third party offerings are often not valid.
     
  24. geno berns

    geno berns F1 Rookie

    Oct 26, 2006
    3,006
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    The car was represented to me as owned by Redline Restorations. As far as I know this car is not being marketed for a third party by them. I spoke to the owner of the car who is also either the owner or employee of this outfit.
    I agree with all who advise me to move on. I am just pointing out that if the intent was for this car to be resurrected and where the seller wants to make sure the car does not get in the wrong hands, I was a good candidate to make this happen. The car has been marketed to death and has been in pieces for 20 years! Those who say look else where, please point out another project GTE and I will.
    By not allowing me to take a simple inventory of the parts, than bumping the price and than when I expressed interest in purchasing the car at the new price of $100K I was told to look else where, does not make any sense to me.

    Geno



     
  25. xs10shl

    xs10shl Formula 3

    Dec 17, 2003
    2,037
    San Francisco
    Just an opinion, but in a market such as we have today, I don't feel it's unreasonable to raise an asking price over a short period of time like 60 days, much less a year. New sales are recorded, and prices adjust accordingly, sometimes optimistically, sometimes correctly. Two months feels like ample time to take a former offer off the table, and re adjust. If you are looking for a price lock, I think you really need to place a depost.

    As to the refusal to not inspect the parts boxes, that sounds like code for "not for sale" to me. At the asking price, there seems to be no upside in taking this risk unless you are looking to part it out.
     

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