Ridiculously high or "call for" asking price?

Maybe some people buy them in a company name as an investment and then sell them for less than their outrageous asking price and then claim a loss of their taxes? Any tax specialist out there that can advise if that's possible?

 

A salesman has a much higher chance of selling you something if he can talk to you and try to overcome your objections.

Sometimes dealers will deliberately leave out some info about the car in the ad just to elicit a phone call.

 

A high asking price gets zero response in my experience. It psychologically turns people off.

A dealer leaving out a price does so so that they can feel you out over the phone or in person. They think that once their talking to you they can maximize their return.

 

If I see a car for sale but without a posted price or with a "price on application" label, I just figure the seller is not too motivated and move on. I will not be treated as a supplicant by a car dealer. Similarly, if I see a ridiculously high posted price, I figure the seller is trawling for suckers, and I won't bother to enquire further.

 

true,most dealers think they can charm you into the seat,however how anyone can state their 348 is worth 20,000 dollars above equally comperable 348's is asinine and many people have been snookered into overpriced cars..but theres a few reasons dealers use the old "call now" or "in stock" ads with exotic cars

1.dealer to dealer competition is the main reason,like in poker you never tip your hand......when the Ferrari Market went nuts,the car you priced at 100,000 when you sent the ad to autoweek thats published 2 weeks later
could have a value of $150,000 by that day.

2.the demand for a particular model like the 360 spyder,which had some people paying close to double the factory list when the first few cars hit the states its a supply and demand issue

3.they can get a better idea of what the customers looking for in regard to colors options etc to locate exactly what the customers looking for

 

In my experience, POA cars are usually very rare, very desirable cars with commensurately high prices (like mid- to high six figures or million dollar cars). I don't think I've ever seen a POA on a mass-produced car like a 308 or even a 360. Among Ferraris, I would expect to see POA on something like the Rosselini California Spyder, a 340 Mexico Spyder, or pontoon Testarossa.

I agree that POA is usually used because the price is high enough that stating it might turn-off some potential buyers.

 

I think you're first suggestion is spot on, that is, the seller is trying to rope in someone who just has to have a Ferrari, and also, who doesn't know the market very well. There's lots of guys out there with money burning a hole in their wallet. Outside this small community of F-car afficianados, virtually no one has any idea of what an F-car really costs - especially for a previously owned model. He knows that an uneducated buyer won't know the market and he might well be able to get away with it.

 

i always pass on " those " ads. say what ya want or S. T. F. U. despise the call for price ads more than the ridiculous ones.

 

A few months ago I sold my 1994-512TR yellow on black with 7000 miles on her,A rare combo as well as a perfect car.The guy's looking in the 80 thousand dollar range wont find cars that clean and new in the 80s or even mid 90s even though market is now in the high 80s.

Lets face it in this case it's a ten year old car and if used alot looks like it.Same thing with a sweet 308 if she is real nice you can toss the market price out the window ,someone will pay to own her.

I put my Ferrari on Dupont for $118,500.00,and the next day sold her for the $115,000.00 that I actually wanted for the car.
I dont think many people ever expect to get their asking price all you can do is make them an offer ,you just never know!

 

Sometimes, this is compounded by dealers who post seemingly ridiculous prices on their websites, which never gets updated.

I never know if a car is "sitting" at their website for months and months because 1) the dealer wants too much, 2) the car has problems, or 3) was already sold but never updated.

ps: With that said, I really enjoy browsing Mike Sheehan's website. Great pictures (quality and quantitiy), and prices are almost always posted. Also, there's always something interesting on sale, with new cars popping up fairly regularly.

 

Isn't this your car?
http://www.dupontregistry.com/search/srDetails.asp?itemid=151441&sessionkey={4DD0F8CC-9CBA-4E6F-8372-D6F1E5C24B09}

 

Bingo! That's it right there. I sell cars for a living, our UCM never includes the asking and it's for that exact reason. Ironically, when I'm shopping for a car if I see an ad without an asking price I'l breeze right over it and never give it a second chance.

 

Regarding asking prices.........

Most of the people looking to buy something as expensive as a high end car usually have a pretty good idea of the marketplace in their area.

Whether or not you have an asking price posted in your ad, or on your lot, is irrelevant. We (dealers and purchasers) all have access to the internet and can get a pretty good ballpark of what something is usually listed at in a matter of 5 minutes.

If readers happen to like the car you described in your ad, they will call and ask for the price and more info.....which incidentally......is the entire point of advertising.

If you put way too high a price in the ad in the first place, you are usually emotionally attached to what you are selling, totally ignorant of the market in your area, or you are trolling for someone who has never heard of the internet......which means you'll have it listed for a very long time.

 

That was my TR I sold back in march, Motor Cars Int sold her again and never took the add off line.I guess their add is paid for and she may still attracts customers!

 

I too respond negatively to POA or high posting prices. I have no interest in jumping through hoops for someone else's jollies. There are people that look to negotiate to the last 2 cents and love the challenge. Many of us are not from that frame of mind. Ever wonder why car sales people have the reputation they have? Ever wonder why dealerships have difficulty creating repeat buyers? At 48 years of age and having bought many cars, there has been only one dealership that earned my repeat business - I knew the pricing as he did - I asked his pricing (higher on the range) and I offered lower in the range. We agreed and I bought the car immediately. I believe that is the way it should work - though it rarely does.

When an individual posts an exceptionally high price, it has been my experience they are highly emotionally attached to the car. Many of us do not want to deal with the owners' attitude - "its' my car therefore I say it is worth X - I don't care what anyone says." I have had enough of outraged car owners when I offered market price.

 

This discussion reminds me of an incident with my father in law. His neighbor got a new couch and set the old one on the curb with a sign that said "free" and got no takers. He then put a sign out that said $10 and it was gone in a flash. Some people just need to pay more to feel that they got something better!

 

Here is the backside from the dealer perspective:

I pride myself in pricing cars where they are priced right. Her eis the donwside. Everybody that calls wants to haggle price with you before they even see the car. They assume this is a good deal and lets see how sweet we can make the deal then. You rearly find a buyer that sends the car for PPI and or inspects in person and then discusses price with you. In fact some are pis$Ed when you tell them that this is the price.
If you tell your customer what your bottom line is they want more out of you.
Case my boat. A value of $ 96,000 according to the survey, the NADA lists the boat at $ 86K value retaila dn in the low $ 70s value wholesale. I offer the boat for $ 55K to get rid of it fast. This clown calls and wants to discuss how low I am willing to take, I explain $ 55,000 is the lowest. He tries $ 50K, I say $55K, he says $ 51K< I say $55K. He says he is taking it. I faxhim the contract he sends me back he really wants to pay $ 50K. Deal is off I tell him, he calls back a day later he is taking it at $55K but he wants to see the boat. I wait for the paypal deposit, nothing. I send him an e-mail where the deposit is, he sends back he wants to pay only $ 50K. He then calls a day later again he wants to come and see it and send the deposit. Flies in and looks at the boat< it is as described and as the survey said and now he tells me he has $ 50,000 with him if I'd take it.
Next guy was happy to take it because he realized that the boat was a steal. He even did not want to negotiate when the center engine would not fire, although I had it running just 3 hours before. No: "lets talk price" from him.

If you do not disclose price it turns off people. If you do disclose and give a nice margin to make customers happy that they have negotiated you down 10% you are too high. If you price them right you have those that haggle with you becuase they want 10% off.

See for us there is no winning. Damned if you do, damned if you don't.

This from the dealer perspective guys!