The Stovebolt Site Forums The Shop Area General Truck Talk value?

Guys I'm new here, hope this is in the right place.

Lot of you guys might cringe here, but gotta do what I gotta do.

I have a '53 3100 Chevy that my dad did a frame off restoration on 20 years ago. I'd say its a phase II -III condition truck. Its been mostly shedded and cared for. It runs like a sewing machine, no problems on the truck, everything works as it should.

I'm gonna sell it. Right now its sittin out there with 47,000.7 on the odo. I need to get all I can out of it, but I'm selling it to friend so I don't want to beat him either.

Its always worth whatever the buyer'll pay, but am I shorting myself if I sell it for $6,000?

Gotta make the call this afternoon.

Thanks

Huntinguy

http://s20.photobucket.com/albums/b230/huntinguy/?action=view&current=P7090994.jpg

http://s20.photobucket.com/albums/b230/huntinguy/?action=view&current=P7090995.jpg

Sounds like a fair deal to me.

I'd say he was getting a good deal.

Pick up a copy of the Old Car Price Guide and see what it says. The numbers in it have always seemed too high to me, but they give an objective basis from which to work.

Thanks for your replies.

Couple of points that are worth something to me that I didn't mention.

My friend lives nearby, doesn't plan to mod or change the truck other than perhaps to bring the condition back up

AND.....I have first right of refusal.



Right now the truck is simply a hobby that I dont' have time or money for. I love the old truck, but no longer have free storage........can't build a shed and its not really right just to have it sittin up gettin no attention. Its made for using and enjoying.

My friend will maintain it well and keep it, and who knows, few years down the road....maybe I'll get to buy it back.

Love to hear some more opinions! Thanks guys.

Im sure youve thought of a car cover? But,,,if you really HAVE to sell it,and it sounds like he'll take care of it,and youre both happy with the $$. Do it. You'll even get to drive it now and then.

Sounds like your bud will take care of the truck and thats a great thing - and with the thought you could get her back someday, makes it a whole lot easier to sell.

Selling a truck like that is always tough and a little sellers remorse is normal, especially when you see it cruising down the road.

Sitting here in California I'd say your friend is getting a very good deal ? I think it's worth around $ 8000.....But that said cash in hand is king. Good luck.

Intresting, $8,000 was my original asking price.

You can't use California prices to judge the worth in Louisiana. It's difficult to put a "value" on anything without having it there in person AND as you noted in your first post it depends on how bad the seller want's to sell and the buyer want's to buy. I'd say that if you're both happy with the deal, regardless of price, it's a good deal.

Sell it to your buddy for 6K Don't try and hose him. It might come back and bite you. Treat him fair and you will be better off. It is your friend.

I am terrible with used car prices, as I always seam to sell low and buy high. $6-8k seams like a fair price, however that is dependent on location, economy, and other factors. If you have already talked to your buddy about $6k, then thats the price. If you have the asking price of $8k, then let your friend know that, and see what he offers. If its higher, bonus, if lower, then go for $6k

I'd give you six now. He's getting a good deal, but that's what you'd expect from a friend, isn't it? (and you're not getting ripped off by selling it for 6)

I really dont think there is any way to determine what the exact actual value of any truck. You have it because you like it. In order for someone to buy it from you they will have to pay enough money that you like the money more than the truck.One thing i have learned if you sell something you will just spend the money you just wind up with no money and no vechicle. Now if you need the money for something really importaint, Morgage payment, food ect. Then by all means sell it. OldWolf

Thanks guys! I appreciate all the feed back. I was asking $8,000 but sold it to my friend for $6000. I did get first right of refusal, he's happy and I'm happy. Could I have gotten a little more? Probably, but now I have a chance to buy it back one day, know that he's gonna keep it in such a fashion that I'd WANT to buy it back and nobody got hosed.

You've reassured me that this was the right deal. I'm also throwin in another body/engine+transmission plus an engine and transmission. (My dad had another body and extra parts, in case this one was wrecked or he decided to restore one for my brother)

OldWolf, you are dead on in your last statement about the money too. My wife is due to give birth to a little girl just any day now. The six grand drawing 12% in a mutual fund will give her a darn good start on college, OR Lord willing a heck of a nice retirement when she's 55.

Sage advice here, Thanks again guys

Huntinguy

Huntinguy,
You probably did the right thing and remember that the right of first refusal is not free. You paid for it and is reflected in the sale price. From what you have said, it appears having such a right is worth at least 2k to you. So as you said if both are happy you made a good deal.

Steve

wow that never works for me. I always get the offer to buy it back but, the person suddenly forgets who I am and wants three times the price I sold it to them.