I Need Advice: Selling 58 Impala

[EddieP]

Originally Posted by todeen

I need your advice because we're in a conundrum. We've decided to sell our 58 Impala to have a down payment on a house. It's modified, a mid-1980s restoration. It's a low rider with 348 W Series engine; decked trunk, louvered hood. I understand due to its modifications we are looking for a smaller group of buyers. We know the provenance back to 1982 when my wife's uncle purchased it. It's a barn find, superficial rust, some dings and dents, some issues with upholstery, but still runs extremely well. We don't need the money immediately, but my wife and father in-law have fire in their pants.

Here's the problem: we've received estimates on the car from $20k to $40k. We were told $25k in 2017. Prices obviously went up during COVID, but even this week our trusted friend still said the car was worth $28k. Our local market is and always will be low (Spokane WA). We thought we had a buyer this past week on Thursday at $25k, the price stated before he came to see it, then he low balled us at "$18k and not a penny more." Turns out he's a professional buyer, and I'm certain he just wants to flip the car. We were all offended. I told everyone I was moving on to list in a national magazine classified ad.

But now the same buyer has called back and raised his offer to $20k. My wife and father in-law want to sell, but I'm the only one who is holding up the sale because I simply don't like the buyer. I feel like we're leaving a lot of money on the table.

I know November to April is not car buying season. We will likely have to wait months before trying to sell it again. I already paid for the national advertisement. We have a major local car show on Father's Day we could try to sell it at.

What would you all do? Am I being obstinate?

Attachment 594234
Attachment 594235

Sent from my SM-G9900 using Tapatalk

My gut feeling is : 1) your friend is correct the car’s low value is $28,000, 2 ) the professional buyer knows that but he wants to maximize profits and low ball you. He’ll buy it $23-24.000 and sell it at 45,000. He’ll walk away at $25,000.That reminds me that back in the days when cars were sold through Wanted Ads, people who sold cars would list their price 5-10% higher than the price they actually wanted.Likewise buyers would offer 20% less than the asking price. His initial offer of $18,000 fits that practice. And he probably thinks you really want $23000. Heavy Negotiation were expected and part of the deal.

[pawpawdiv9]

Try Meccum auto auctions
I been to the Chattanooga ton one for a weekend
Tons of car and tons fun

[todeen]

Originally Posted by pawpawdiv9

Try Meccum auto auctions
I been to the Chattanooga ton one for a weekend
Tons of car and tons fun

Originally Posted by CW

Here are some auction based options. I don't know which one would be the best fit for your car, but they might be worth checking out if you are not in a big hurry to sell:

https://worldwideauctioneers.com/auctions

https://www.barrett-jackson.com/

https://carsandbids.com/

I'm nervous about sending it to auction. We considered it, but our gut feeling is in agreement with BNorth -- the car is good enough not to be bad, but it's bad enough not to be good. It sits in some middle area. Part of the reason we feel this way is because the estimated values we've heard over the last six years are $20k - $40k. It's such a huge window. We're worried about it ending at $20k, and then after paying the seller's fee, the total return would be less than $20k.

[sb1]

Don't go the auction route, you will get killed. It's not a show car or an all-original survivor, just a 58 Impala "project". It will bring wholesale money at auction.

[bdk1976]

I disagree. It's definitely not a car for Mecum or B-J, but I bet this thing would do decent on Bring a Trailer. Maybe not the $40k pipe dream the seller is holding out for, but I've seen crazier things on there.

The other site to consider would be to put a classified ad on The HAMB, as a modded '58 Impala like this would appeal to much of the audience there.

I probably would have been more ruthless than the prospective buyer/flipper OP is 'offended' by. It's a simple business transaction, but some people insist on complicating matters by bringing emotion into the situation.

The market decides the value - not a 'trusted friend' or any other 'expert' or appraisal.

$20k for that car may very well be the number 'where two fools meet'. OP for not selling for $20k and buyer for not giving $20k. Time will tell.

[todeen]

Originally Posted by bdk1976

I probably would have been more ruthless than the prospective buyer/flipper OP is 'offended' by. It's a simple business transaction, but some people insist on complicating matters by bringing emotion into the situation.

First, my mother always taught me that you catch more flies with honey than vinegar.

Haven't you ever met someone who just rubs you the wrong way? Think of all the threads on Net54 where we disclose buyer ID on ebay, or Facebook, and dozens of sellers here blacklist them. They blacklist them for the simple reason of not wanting the hassle in the future.

Or think of the store signs as you walk in that say "I have the right to refuse you service in my store if you are disrespectful."

Wasting a seller's time is certainly reason enough for many on this board to not work with a buyer again in the future.

Now, I would agree with you that if this rude buyer was the only buyer, or offering the most, it might be foolish of me to walk away. But under the circumstances that I had not advertised the car for sale, I still had a large pool of potential buyers to possibly find another.

[Casey2296]

Originally Posted by todeen

First, my mother always taught me that you catch more flies with honey than vinegar.

Haven't you ever met someone who just rubs you the wrong way? Think of all the threads on Net54 where we disclose buyer ID on ebay, or Facebook, and dozens of sellers here blacklist them. They blacklist them for the simple reason of not wanting the hassle in the future.

Or think of the store signs as you walk in that say "I have the right to refuse you service in my store if you are disrespectful."

Wasting a seller's time is certainly reason enough for many on this board to not work with a buyer again in the future.

Now, I would agree with you that if this rude buyer was the only buyer, or offering the most, it might be foolish of me to walk away. But under the circumstances that I had not advertised the car for sale, I still had a large pool of potential buyers to possibly find another.

If it don't feel right it don't feel right, life is short, deal with people that make you feel good no matter the result.

[JustinD]

Originally Posted by bdk1976

I disagree. It's definitely not a car for Mecum or B-J, but I bet this thing would do decent on Bring a Trailer. Maybe not the $40k pipe dream the seller is holding out for, but I've seen crazier things on there. .

A second for Bring a Trailer, the correct audience for this car and to get top dollar on an online format. I see the best returns on Bring a Trailer and Cars & Bids (I don’t think the latter is the right crowd for this). Those two sites bring in the true car guys.

[petemallet3]

Originally Posted by JustinD

A second for Bring a Trailer, the correct audience for this car and to get top dollar on an online format. I see the best returns on Bring a Trailer and Cars & Bids (I don’t think the latter is the right crowd for this). Those two sites bring in the true car guys.

This a good one .

Sent from my TECNO BD4h using Tapatalk