listed now four times and the bids keep going lower.

PM sent .

ssp91ssp

got it Hector. ;)

I think it's interesting to see how prices are with the current market.

Isn't that the truth! Selling prices of low-end cars that require a full resto seem to have increased a bit (those that are <$5K), yet the prices for restored cars are flat or declining. The simple truth is you cannot restore an entry-level SSP for the cost of what these restored ones are going for.

Well put Bill! And I agree if you try to return one on your own to in-service condition it is going to cost you more and I'm afraid I know this first hand :crying: (note: I did know what I was getting into, though, so that was not a surprise). But it is alot of fun. And of course a nut & bolt restoration is an even greater example of how it can add up quickly.

I think you both make good points. I'm kinda glad, in a way, to see this because I think that the values on some of these cars were waaaay overinflated to begin with. There are very, very few "restored" cars out there, and lots of in-betweens being touted as restored. I don't look down at someone who buys a restored car (there's probably always going to be room for improvement somewhere, anyway), but I prefer to work on my own cars. There's room here for all of us, whether full-blown resto or just "restification", but with the way some of the values of the cars were going after being passed around between people numerous times, I'm glad to see that it looks like it might be finally coming to an end. Maybe these people will think twice about buying a car with plans to turn around and sell it a month or two later.

Maybe I'll get one done one of these days, too. :rolleyes:

This was posted on 4EP by EVILGT and without a doubt it is an eloquent post that really strikes the issue center mass. I am posting it here for members to think about and hopefully allow others to understand why some of us look out for the scammers and flippers that are only in this hobby for attention, and to make a dollar. This situation is not found in just the mustang hobby, but in all hobbies generally whether it be cars, guns, airplanes, etc. I personally do not believe the 'economy" had anything to do with the continued non-sale of this car. I do believe that members are becoming more educated and particular about who they buy from and what they are willing to pay. Here is the post.


Regarding "Flippers"

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*Flippers being the folks who pick up a car that they believe to be worth more than what they have paid for it and almost immediately turn around and try to sell it for a healthy profit.*

The economy has been doing funny things with the Early Fox market. We're seeing everything from wildly overpriced vehicles for sale to screamin' deals. It's certainly a buyers market for the ones who know what to look for. However, those of us who watch Ebay, Craigslist, Kijiji and other online marketplaces are noticing an increase of cars being bought and sold repeatedly in a short amount of time.

It seems that flippers are trying to get into the Early Fox market to make a quick buck. Many are finding out the hard way that the car they picked up for a seemingly low, low price isn't getting any bites once they've tacked on their "convenience fees," the convenience being that you're buying it from Seller B now, instead of Seller A. Since we have a dedicated group of folks who search for sale ads, these flipped cars quickly appear on the collective radar here.

Generally, everyone can accept a flipper who buys a car, dedicates some resources to improving the car, whether by extensive detailing, a little bit of maintenance, or other value adding activities and offers the car up again at a higher price that is still quite reasonable. No harm, no foul. Effort deserves compensation, most anyone can agree to that.

The ones that find criticism are those who are known to have picked up a car (or multiple cars) and quickly begin advertising it at an inflated price without having lifted a finger to improve the condition of the vehicle. These are also the individuals who typically discover that the price they paid was, in fact, a fair price for the car and there isn't any room for significant profit.

Our members can be quick to call out an individual suspected of being a flipper. They are typically armed with evidence of the car's recent availability from a different owner. They'll question why the car is now suddenly considered more valuable by the newest owner. They'll ask what has been done to the car since it changed hands.

We have a tight-knit community that tends to watch out for one another. They'll go the extra mile for other members, and they'll be sure to warn others when they suspect something is up to try to keep other members from getting taken for a ride.

Now, members should by all means be as civil as possible when trying to determine what's going on with a car offered for sale on this site. However, when replies from a seller get hostile, a bit of a "tough love" approach is allowed to happen here. Sellers who can't keep their cool immediately set off red flags for everyone. The number of profiteers and even scammers online continues to grow. This community does what it can to prevent its members from falling victim to any of that.

So, if you're flipping, be prepared. If you have a good reason for a higher asking price than before, be sure to state it. If not, be ready to explain yourself. It's only fair for potential buyers to want to be as educated as possible on a car's history.

Dam !!!! very well put by Mr EVILGT ....

ssp91ssp

WOW!!! That was really well written. :2thumbs: