Who would sell their gt350 for less then it's market value?

[FL SAAC]

many are not commenting but watching silently, I love it when this forum comes to life

Wow, 5 pages of interesting reading but 1 factor on why someone might sell a car under market value wasn't discussed and 1 I have seen before. TAXES. I have 1 friend who bought a 67 GT500 under market many years ago. He put cash on the table and his gun(hey his story). Sellers had a choice for a private sale cash or maybe a more open market with a paper trail. They took the cash. Now my situation. A "good" friend of mine bought a Shelby around 2001 before the market jumped and got a good deal on it thanks to really low ball offers the prior owner got at a SAAC-MCR show. He paid 35K. Fast forward to last year. This same car in #1 is 250K plus but his car is a #4 to me. I know, I have done work on his car and know it. So I get my 69 428 SCJ Mach1 about ready to put back on the street and sell to buy his Vert. Now he said to me more than once "you know what I paid for it. You know what it needs. I'm not looking for top dollar and if you want it I'll give you a good deal". He is a business owner who knows what his capital gains will be if sold on consignment or auction. Cash sale to me means possibly  he is looking to skirt the tax bill or not get scammed or open up his "privacy". We both save.  So a few months ago I stop by. Go over the car again. Well when he said 140K and my Mach1(200K plus total for a 130K car) it was game over. I didn't say a word. I'll be having fun with my Mach for the time being. While it would have been nice to have Shelby "bookends" it wouldn't be at his "good price". The Shelby needed a full restoration including metal work and what happened to his engine (broken valve spring and bent pushrod) 2 years ago the engine would come out for a rebuild immediately. I even fabricated a tool to replace the valve spring with the head still on to get the car back running.

[FL SAAC]

Wow, 5 pages of interesting reading but 1 factor on why someone might sell a car under market value wasn't discussed and 1 I have seen before. TAXES. I have 1 friend who bought a 67 GT500 under market many years ago. He put cash on the table and his gun(hey his story). Sellers had a choice for a private sale cash or maybe a more open market with a paper trail. They took the cash. Now my situation. A "good" friend of mine bought a Shelby around 2001 before the market jumped and got a good deal on it thanks to really low ball offers the prior owner got at a SAAC-MCR show. He paid 35K. Fast forward to last year. This same car in #1 is 250K plus but his car is a #4 to me. I know, I have done work on his car and know it. So I get my 69 428 SCJ Mach1 about ready to put back on the street and sell to buy his Vert. Now he said to me more than once "you know what I paid for it. You know what it needs. I'm not looking for top dollar and if you want it I'll give you a good deal". He is a business owner who knows what his capital gains will be if sold on consignment or auction. Cash sale to me means possibly  he is looking to skirt the tax bill or not get scammed or open up his "privacy". We both save.  So a few months ago I stop by. Go over the car again. Well when he said 140K and my Mach1(200K plus total for a 130K car) it was game over. I didn't say a word. I'll be having fun with my Mach for the time being. While it would have been nice to have Shelby "bookends" it wouldn't be at his "good price". The Shelby needed a full restoration including metal work and what happened to his engine (broken valve spring and bent pushrod) 2 years ago the engine would come out for a rebuild immediately. I even fabricated a tool to replace the valve spring with the head still on to get the car back running.

I had asked, why would you sell at an auction for what 20K more and much more in "fees"?

Yup those hidden fees +, +, + also many do not want to be on camera and be exposed to the world

[Krelboyne]

Commenting just feeds the Troll.

[FL SAAC]

Commenting just feeds the Troll.

+ 1

[shelbymann1970]

Wow, 5 pages of interesting reading but 1 factor on why someone might sell a car under market value wasn't discussed and 1 I have seen before. TAXES. I have 1 friend who bought a 67 GT500 under market many years ago. He put cash on the table and his gun(hey his story). Sellers had a choice for a private sale cash or maybe a more open market with a paper trail. They took the cash. Now my situation. A "good" friend of mine bought a Shelby around 2001 before the market jumped and got a good deal on it thanks to really low ball offers the prior owner got at a SAAC-MCR show. He paid 35K. Fast forward to last year. This same car in #1 is 250K plus but his car is a #4 to me. I know, I have done work on his car and know it. So I get my 69 428 SCJ Mach1 about ready to put back on the street and sell to buy his Vert. Now he said to me more than once "you know what I paid for it. You know what it needs. I'm not looking for top dollar and if you want it I'll give you a good deal". He is a business owner who knows what his capital gains will be if sold on consignment or auction. Cash sale to me means possibly  he is looking to skirt the tax bill or not get scammed or open up his "privacy". We both save.  So a few months ago I stop by. Go over the car again. Well when he said 140K and my Mach1(200K plus total for a 130K car) it was game over. I didn't say a word. I'll be having fun with my Mach for the time being. While it would have been nice to have Shelby "bookends" it wouldn't be at his "good price". The Shelby needed a full restoration including metal work and what happened to his engine (broken valve spring and bent pushrod) 2 years ago the engine would come out for a rebuild immediately. I even fabricated a tool to replace the valve spring with the head still on to get the car back running.

I had asked, why would you sell at an auction for what 20K more and much more in "fees"?

Fees was a little vague for me but duly noted. Fees are what politicians hit us with and then say they do not raise TAXES. Ditto for hotels in many areas. To me they are taxes.

[FL SAAC]

Not making this political but the new administration is or has been working on a revised capital gains tax. Attached you will see current and proposed capital gains structures.

[deathsled]

Biden is a financial genius. Lol. Barf.

[capecodmustang.com]

Not making this political but the new administration is or has been working on a revised capital gains tax. Attached you will see current and proposed capital gains structures.

More taxes planned...?

We don't have a tax problem.
We have a spending problem.

Just my .02...
Bret

[FL SAAC]

Not making this political but the new administration is or has been working on a revised capital gains tax. Attached you will see current and proposed capital gains structures.

More taxes planned...?

We don't have a tax problem.
We have a spending problem.

Just my .02...
Bret

Agreed my amigo.

Back to the topic at hand, who would sell their GT350 for less than its market value?

[427heaven]

Take it a little further..... Would anyone sell something of value, (ANYTHING) below what would be considered normal for said item? Not unless substance abuse or cognitive decline of some sort was at play- No one cares if its your friend, or a fellow SAAC-ER involved...

[FL SAAC]

Well the answer to your second question would be :

Yes, read through pages one through six and you will see many views as to why anyone would sell under any items true value. Betcha we even missed a few more reason why

Take it a little further..... Would anyone sell something of value, (ANYTHING) below what would be considered normal for said item? Not unless substance abuse or cognitive decline of some sort was at play- No one cares if its your friend, or a fellow SAAC-ER involved...

[67 GT350]

"You can't always get what you want, but if you try sometime, you get what you nee-eed."

[shelbymann1970]

Take it a little further..... Would anyone sell something of value, (ANYTHING) below what would be considered normal for said item? Not unless substance abuse or cognitive decline of some sort was at play- No one cares if its your friend, or a fellow SAAC-ER involved...

Well if they didn't dealers would be out of business or at least most of them for used car sales. The only reason I can think of other than the ones you mentioned is convenience of a quick sale and not opening up your life to any stranger that may answer your ad. My old 68 Shelby the prior owner to me got it for a good deal because the owner was hooked on crack(late 80s). He had already sold a garage full of goodies his dad had gave him and then the steering wheel and console were sold before my friend bought the car. The guys wife was pissed when she found out he had the money. She told my 2 friends that he will just blow it on crack. Fast forward 2 decades later the I find the guy and he beat his addiction and inherited his dads trucking firm and was doing well. The trail stopped with him as he could only remember the kid's first name he bought the car off of. The last name he wasn't 100 percent sure and a search of that name yielded zero results. 

[67 GT350]

Have you notice that since this discussion has started, there are no cars for sale on the forum? Coincidence? You be the judge.

[camp upshur]

 
I guess all of the potential sellers considered all of the sound arguments posted here and ended up giving their cars away.