<Sigh>...Thinking of selling - testing the waters

I'll let the knowledgeable ones chime in...but here is a dummys view.

Price the car at a price that would be fair, given the condition and market conditions as if the major service was done...and let them negotiate that in down to the $17-20K range. Then, you get a fair price, they get to negotiate a bit, and have the service done at the shop of their choice knowing it was done correctly, and not skimped on.

John

 

A while back, I was thinking about selling my car, and posted a thread here, with some good responses.

http://www.ferrarichat.com/forum/showthread.php?t=176747


I'm not sure what condition your car is, but my guess that as a fellow F-chatter you probably took decent care of your car. I would think that even without the major, that 17k is a little low.

By pricing the car pre-major, it does give the buyer some flexibility in where to get the major done, etc., so you are probably better off. The only issue I could see with this is that if during the major, the buyer finds something unexpected. Of course, any buyer should get a PPI...

When I bought my car, it needed to have the major done, and I got it done + some extra work.

FWIW, I decided in the end NOT to sell my car, and just recently completed another major service (5 years later).
http://www.ferrarichat.com/forum/showthread.php?t=191562

Dom

 

I've never understood the rational for not getting the service done. Advertising a car to need the 30k service is a negative not easily overcome by a cheaper price. Advertising a car with 30k just done is a giant plus for a buyer. Plus you probably don't need a full 30k but if you get belts, fluids you can say 'recent service'. And have the engine bay detailed even if just gunked.

Everyone wants a bargain whether your buying a 29 yo F-car or a new 430, so remove that from your mindset. But I'm getting the picture of a dog here which could use some tlc to optimize the price for both parties. And forget what you hear on the news about the economy, it's hype exaggerated to affect the election. Your buyer is a real live person with spare cash and a desire to fulfill, not a statistic. So, fill his desire with the best car you can offer.

 

I have tracked a number of GT4's and most reasonably nice cars are selling for a minimum of 20k with or without service. Fact is that while the service is a big issue there are so many other issues. What is the interior like? The paint? is there any rust anywhere? Have you posted any pictures? I would be interested in seeing some close up...in any case good luck with moving on...

 

Aaron,

Do the major, be honest in your assesment of the car and don't be afraid to take close-ups of the areas that need attention. Even if you don't think they're that bad. Your honesty will balance out anything wrong with the car, as long as you disclose it. In fact, some of the things you may think need attention may not be as important to a person eager to find a GT4.

And let's face it; If someone is looking for a GT4, then they probably know exactly what they want and they probably want a GT4 and not a GTB or GTS for (what those of us who know, consider to be) obvious reasons. So I wouldn't worry about it.

That's your niche, IMHO.

Heck, if I had the money to spend on another car instead of doing the restoration I'm doing on mine, then you'd be getting a PM instead of this response in the thread. Fair enough?

Do the major, price accordingly and regret the sale when the prices go up. You'll make the rest of us all feel so much wiser.

 

Psychologically, more people will be interested in your car just under $20K. GT4s are nice, but I don't see hysterical demand for them, and 82K miles is a lot (as a total number on an original 1979 engine).

I'd say use eBay and cars.com, as suggested above, and stick the buy-it-now at $19,500. Don't spend $4K+ on a major if you're done with the car: you may break even, at best.

 

I say don't do the major. If someone can buy it for a lower price and does not have the cash they have the option of doing the work themselves or saving for later to get it done.

It just depends if the buyer knows the car and what is involved. A PPI will tell more than if a recent service has been done.

 

I think you should not do the service. An honest assesment of what the car needs and a fair value price will help the car sell faster. It also depends on how quickly you want to sell. Granted, if a perspective purchaser hears the car needs major service, it might be a turn off, but for most first time ferrari owners, an under 20k price can not be beat.

 

I bought my car under similar circumstances. It needed a major, and the 'price' included a major that was to be done prior to the sale. I chose to buy the car for a reduced amount, without the major, then have the work done myself after delivery. My thoughts at the time were that I needed to start a relationship with a local mechanic, rather than have somebody 2000 miles away do the work and never see the car again. I think it was the right decision. It also gave me some time to put a little more $$ away for the service after the cash drain of buying the car.

 

Do the major. You just don't know how long it will take to find a buyer and all the while the time for that major is ticking. Or are you planning on not using the Dino from now on until it's sold? In any case good luck with the sale.

 

Don't do the service and price the car at $18,500. It should be gone in 60 seconds.
BT

 

Don't do the major.

Lets be realistic...right now is a horrible time to sell a car. Selling a GT4 before the markets sunk was a challenge...now...its even more difficult. You have to decide how quickly you want to sell.

I have kind-of been in the market for a gt4/308 for awhile. But honestly, if it isn't an extreme bargain, I won't buy it. And, I suspect that most shoppers looking right now are thinking the same. With realestate being knocked down 20-30% in some parts of Chicago, the money is best spent investing. I wouldn't mind picking up another car, but it really would have to be a no brainer.

I do wish you luck, and I hope you sell it quick...but this is a lousy time to sell...

(And no, I haven't submitted some low ball bid - just offering what I think is realistic advice)...

 

Dont waste your money on a service. I am currently out looking for another f-car right now and a freshly done major is a negative to me. I dont trust anyone to work on my car but my mechanic. Everyone has there own version of a major service and I am only interested in getting my version done my way. With that being said, even if you don agree with me , you may agree that spending more money on a car you are selling just makes it harder for you to part with it for less money. Keep your money in your pocket and sell your car for what you think is fair.

 

don't do the major. price it accordingly and stand firm on the price. the plus is that you weed out the tire kickers, the minus is that some people might feel reluctant to buy a car that could have surprises during the major.

 

I would have the belts, bearings, and fluids changed. Some buyers in that price range may consider driving the car home instead of shipping the car for $900+ I would be leery of spending money on a car that immediatly needed to see a mechanic the day I buy it. I'd rather pay more to buy a car that has its service records up-to-date.

 

post pics.

one of us that like to work on these things will buy it,and it will be in the family.

 

Don't spend the money. Any knowledgable Ferrari buyer will understand the difference and not be swayed by the timing of your major. Also:

1. There may be a first time ferrari owner that would buy your car the way it is because it's in an affordable price range.

2. If you might have to discount the car to sell it after you've done the major, you will lose more money than if you just sold the car at a bargain basement price to start off with.

 

I agree with several of the posts here that say don't spend the money on the major. There are so many opinions on how long to go (miles/duration) before the need for service that you may find a Ferrari guy who's okay with going another 2 yrs. Now if the seals are leaking then that's a different story. I still wouldn't do the major but leaking seals may scare away a lot of buyers.

You situation is analogous to selling a house with schedule 2 issues (water damage, termites, roof, etc.). Don't get me wrong, I'm not saying that you have termites Some want or need a low entry point and will look the other way, while some want it perfect. Regardless you'll be lucky to get 70 cents on the dollar of the cost of the major.