I've been following a few cars, out of curiosity, to see what happens to them and who ends up owning them. One particular car, is an Indy, that I inspected personally. This car was repainted in a non-original colour and due to some mistakes of the painter (owner did the cheapest repaint in the history of cars), the final result is really horrible. In addition to that, the battery compartment is totally rusted. Including a few other issues, overall the car is really botched (but it did have a nice interior and engine seemed ok). Anyway, this car was sold at auction for something over 40k euros. Then it started to appear in the various sites like Anamera and Mobile for 50k to 80k (I mean seriously?). I'm guessing a dealer got the car, upped the price to get a profit, but didn't sell. It also seems to have changed hands, since the car was sold by at least two dealers, or at least advertised by at least that many. It shows us how these guys work, how much money they may potentially make from a sale and how some cars "travel around" before they find their unsuspecting victim. Anyway, car is back on auction now... <rant over>
Would you care to elaborate on what the "lies" are? I don't have a dog in this fight, but all I can see is that they are asking more money than you think the car is worth. I don't think that counts as a "lie"....
They are misrepresenting the car as "original", in perfect condition, while the car has a few holes from rust and spreading inside the boot floor and it is badly painted in a non-original colour.
That sounds perfectly normal to me. Perfection is in the eye of the beholder. Who hasn't spent a fortune on a car that was deemed to be perfect/race ready etc in other peoples eyes. Utimately it's a case of Caveat Emptor.
Yes, everything you say is absolutely true and goes to illustrate why a buyer is a fool if they don't (as mentioned above) perform a PPI - "Caveat Emptor". All a seller has to do is wait for a fool. All a buyer has to do is NOT be that fool. So maybe this thread is more about the cars it happens to? 1.) I followed an Espada on the West coast which came up for auction after sitting for perhaps 10 years, it photographed well and was running. I was interested and registered to bid by phone. Luckily I posted for information online, someone on a forum had seen it up close and PM'd me: It ran but badly, no clutch, no brakes, completely sun-baked and dry-rotted interior, the paint photographed well but concealed the body's true roughness, poor body gaps, trim problems, etc. I thanked him for the PM and figured the bidding would top out around $20,000. But it hammered for $70,000 by phone bid!! Absolute insanity. That price is over market value for a Condition 1 Espada, IMHO. Just crazy. 2.) I looked at an attractive 1965 Alfa Romeo 2600 Sprint for sale at $14,500 with a broker in NJ last fall. The online description highlighted it's strong points (very fresh costly mechanical restoration), but did not mention any of it's failings (rusted firewall, rusted trim, terrible interior, rotten bushings all around, rusted frame and did I mention rust?). I did an online search and found a year-old listing at a different nearby broker for $12,500. I found the car's previous mechanic and got some solid information to consider before going any further. I test-drove the car and confirmed the mechanicals were solid, but everything else needed restoration. I offered $7,000 hoping they would turn it down, which they thankfully did. A few months later it was for sale with Gullwing at $16,500 . But oh, look: I checked the listing today and it's down to $13,500 ! Merry Christmas! - Art
Well Art, I think you were right to pass on that one but you are dead wrong about what a #1 Espada sells for these days. Particularly a series 1. There have not been a lot of sales of cars such as that but since last May there's been one @ $200K euros, the glass roof Espada at over $200K and a freshly restored SII for $165K I believe.
Because it doesn't sound perfectly normal to me and because some seller are still honest, may i suggest a third option? Make a call to the local tax office asking for a fiscal inspection to their books and let's see what 'll happen....
Hello Bob, Happy New Year - I have had my eyes off the Espada market for about 4 months, and I am reminded how quickly values can change .
The one out there on eBay now seems to be just dying price wise. I think it could be turned into a nice car so keep watching but apparently there are many just like you so if he ever brings the price down to reality it WILL go fast. $60-70K wouldn't surprise me.
