Power_Seller
Suspended
- Joined
- 26 January 2008
- Messages
- 8
I'll try and get this thread back on topic...I purchased an NSX, by accident I might add, a few weeks ago and it had a sub 20K pricetag. Would I sell my car for less than 25K if I end up selling it??? Of course I would.
These cars are rare, but not that rare. If you need another one, usually they can be obtained with not too much hassle. I compare these with rare speakers and amplifiers of which only a few hundred were made over a 10 year period. Try searching the web everyday hoping for one of those suckers to pop out of someone's hands. And when you do see one come available, there are about a dozen people typing furiously to get it right along with you. Usually the person with the fastest cash wins. Slow emails, calls and too many questions leaves plenty of time for me to get to their bank with my money.
One thing that is difficult to remember when you sell things, both for a living and for a hobby, is that sometimes your emotional ties to the car, or whatever it is, prohibit you from having a realistic understanding of the value of the item or just make it difficult to buy from you because you simply overstate the value or importance of the item based on your emotions. This is a common "syndrome" and even I get caught up in it occasionally. It can be a very expensive problem to have. one or two examples...
friend #1 - was on his way down a "snowy" drug road to rehab. Not my fault but I could see it happening. Sometimes unless they "want" to get better no one can help them. Anyway, he had all the toys...Hummer, 06 Kawasaki ZX-10 with 1000 miles, huge home theater(150K+ in equipment), a few rooms of other smaller system and Plasmas, Lots of high end RC cars, rolex watches, Ipods, dozens of expensive sunglasses, etc. He was in decent shape the first year where he only sold a few things each month to keep cash flowing and keep partying. The beginning of the second year he started to sell me a few of the amps from his big theater and replace them with smaller amps. Then I would order large groups of speakers from him via his manufacturers while he used his "open account" to pay for them and he would just pocket the paper bag full of 40-50K I would bring him for more party supplies and not pay the accounts off. didnt take long then.
It was a rough two years for him and soon he wasnt be able to get out of bed @ 2PM to even open the garage to sell me stuff anymore. I had an urgency in my buying strategy due to seeing his rock bottom approaching quickly. back on point...I Had purchased all the items in his home and looking outside I now wanted to purchas the ZX-10 and hummer from him but he just couldnt emotionally let the Hummer go. It was very trick hummer H2 with 10LCD TVs in it and custom paint, the works. I told him early in that last year to just take a 3K loss on it and let it go while he could still take advantage of a hummer lovin' bunch of fools out there wasting gas carrying around their kids in Florida
He wouldnt do it. Well what do you know gas prices start going up, another model year rolls around and BAM the car is now worth about 10k less than it was 6 months ago. The emotion of his car being central to his "image and persona" cost him dearly in the end. He eventually got clean but I own all his assets, he lost his wife and kid, lost his business and house but hes clean so maybe it was best.
2nd friend more recently
He was in the building trades doing booming biz down here in Florida with all the residential houses and stuff for the past 5 years. Another friend with load of toys...Harley, HUGE Sea Ray ocean going boat, trailer of Jet Skis, 5 rental houses, Another Hummer. Well, needless to say the housing market took a poop and he is now in a world of hurt. Another array of recommendations by me to sell his toys quickly went dismissed for about half of 06' all of 07'. Now he is LATE on house payments, closed his business office and works from home, is behind on years of property taxes and his credit now is in the gutter in just a few short months of late/missed payments. He is holding this $200,000.00 boat for some freaking reason and wouldnt sell it. It's not like its his outright(paid for) but for a year i told him same as #1 friend...sell it now while it now worth less than it will be VERY soon. No way did he heed my advice...BYE BYE 2006-2007. Now the boat lost tens of thousands of more money and he is wayyyy upside down on the loan and cant afford to even dump if for a small loss to improve his bad situation.
Now I am not saying I am all knowing or some financial guru but I have sold LOTS and LOTS of very expensive items to thousands of people all over the world with nothing but email and phone calls usually. I know that if you hold out for that "emotional price" you have stuck in your head you very well might be putting yourself in a jam one day.
Another type of seller is the one who lists their items for month or years knowing that one person will come along and pay that crazy price they are asking. Yes, that is probably true but damn, when your money just sits there not working for you(even worse realized in the form of an automobile), that is usually another poor financial model to follow.
Some of you think NSX prices will stop going down and start to appreciate soon, you guys might be right, but it usually takes much longer than we will have to sit around and wait for that to happen. Maybe our kids can realize that upside if we stop driving our cars and they are super cherry condition cars. More likely these NSX will stabilize at a bottom price of around 20K and hold there for some time, maybe 10 years. Of course this is the bottom year model and will reflect higher prices as you decrease in age. As the number of mint low mileage cars reduces due to driving and/or crashing a few might possibly increase in value. Doubtful though.
I think it's just a great time to be able to buy a vehicle which has lost just about all that it can lose in depreciation while being a wonderful car to own and drive. Most people out there who look at these in your driveway still see this as a 80,000.00 car, even if you paid less for yours.
I let my first NSX go back in 97 to start a family and was blessed with two great boys. I quit a few good jobs as a systems engineer due to extensive travel and was blessed with a new career where I can stay home and make much more than previously making. I try and remember that when I give something I care about away to another person, even for money, it's an experience that makes me grow inside and if I truly miss it that much I will find a way to get another...maybe even a better one this time. Maybe not though.
More late night babble...also if you are waiting for that perfect car or perfect something...what if you never get the chance to have it?...life is terribly short and can change in an instant so be sure and take every opportunity life offers you and try your hardest. It's better to say "I definately won't do that again" instead of "I wonder how that would have gone if I would have just tried it out".
Wishing you all a happy drive tomorrow and sunny dry roads ahead of the car!!!
Rob
These cars are rare, but not that rare. If you need another one, usually they can be obtained with not too much hassle. I compare these with rare speakers and amplifiers of which only a few hundred were made over a 10 year period. Try searching the web everyday hoping for one of those suckers to pop out of someone's hands. And when you do see one come available, there are about a dozen people typing furiously to get it right along with you. Usually the person with the fastest cash wins. Slow emails, calls and too many questions leaves plenty of time for me to get to their bank with my money.
One thing that is difficult to remember when you sell things, both for a living and for a hobby, is that sometimes your emotional ties to the car, or whatever it is, prohibit you from having a realistic understanding of the value of the item or just make it difficult to buy from you because you simply overstate the value or importance of the item based on your emotions. This is a common "syndrome" and even I get caught up in it occasionally. It can be a very expensive problem to have. one or two examples...
friend #1 - was on his way down a "snowy" drug road to rehab. Not my fault but I could see it happening. Sometimes unless they "want" to get better no one can help them. Anyway, he had all the toys...Hummer, 06 Kawasaki ZX-10 with 1000 miles, huge home theater(150K+ in equipment), a few rooms of other smaller system and Plasmas, Lots of high end RC cars, rolex watches, Ipods, dozens of expensive sunglasses, etc. He was in decent shape the first year where he only sold a few things each month to keep cash flowing and keep partying. The beginning of the second year he started to sell me a few of the amps from his big theater and replace them with smaller amps. Then I would order large groups of speakers from him via his manufacturers while he used his "open account" to pay for them and he would just pocket the paper bag full of 40-50K I would bring him for more party supplies and not pay the accounts off. didnt take long then.
It was a rough two years for him and soon he wasnt be able to get out of bed @ 2PM to even open the garage to sell me stuff anymore. I had an urgency in my buying strategy due to seeing his rock bottom approaching quickly. back on point...I Had purchased all the items in his home and looking outside I now wanted to purchas the ZX-10 and hummer from him but he just couldnt emotionally let the Hummer go. It was very trick hummer H2 with 10LCD TVs in it and custom paint, the works. I told him early in that last year to just take a 3K loss on it and let it go while he could still take advantage of a hummer lovin' bunch of fools out there wasting gas carrying around their kids in Florida
He wouldnt do it. Well what do you know gas prices start going up, another model year rolls around and BAM the car is now worth about 10k less than it was 6 months ago. The emotion of his car being central to his "image and persona" cost him dearly in the end. He eventually got clean but I own all his assets, he lost his wife and kid, lost his business and house but hes clean so maybe it was best.2nd friend more recently
He was in the building trades doing booming biz down here in Florida with all the residential houses and stuff for the past 5 years. Another friend with load of toys...Harley, HUGE Sea Ray ocean going boat, trailer of Jet Skis, 5 rental houses, Another Hummer
. Well, needless to say the housing market took a poop and he is now in a world of hurt. Another array of recommendations by me to sell his toys quickly went dismissed for about half of 06' all of 07'. Now he is LATE on house payments, closed his business office and works from home, is behind on years of property taxes and his credit now is in the gutter in just a few short months of late/missed payments. He is holding this $200,000.00 boat for some freaking reason and wouldnt sell it. It's not like its his outright(paid for) but for a year i told him same as #1 friend...sell it now while it now worth less than it will be VERY soon. No way did he heed my advice...BYE BYE 2006-2007. Now the boat lost tens of thousands of more money and he is wayyyy upside down on the loan and cant afford to even dump if for a small loss to improve his bad situation.Now I am not saying I am all knowing or some financial guru but I have sold LOTS and LOTS of very expensive items to thousands of people all over the world with nothing but email and phone calls usually. I know that if you hold out for that "emotional price" you have stuck in your head you very well might be putting yourself in a jam one day.
Another type of seller is the one who lists their items for month or years knowing that one person will come along and pay that crazy price they are asking. Yes, that is probably true but damn, when your money just sits there not working for you(even worse realized in the form of an automobile), that is usually another poor financial model to follow.
Some of you think NSX prices will stop going down and start to appreciate soon, you guys might be right, but it usually takes much longer than we will have to sit around and wait for that to happen. Maybe our kids can realize that upside if we stop driving our cars and they are super cherry condition cars. More likely these NSX will stabilize at a bottom price of around 20K and hold there for some time, maybe 10 years. Of course this is the bottom year model and will reflect higher prices as you decrease in age. As the number of mint low mileage cars reduces due to driving and/or crashing a few might possibly increase in value. Doubtful though.
I think it's just a great time to be able to buy a vehicle which has lost just about all that it can lose in depreciation while being a wonderful car to own and drive. Most people out there who look at these in your driveway still see this as a 80,000.00 car, even if you paid less for yours.
I let my first NSX go back in 97 to start a family and was blessed with two great boys. I quit a few good jobs as a systems engineer due to extensive travel and was blessed with a new career where I can stay home and make much more than previously making. I try and remember that when I give something I care about away to another person, even for money, it's an experience that makes me grow inside and if I truly miss it that much I will find a way to get another...maybe even a better one this time. Maybe not though.
More late night babble...also if you are waiting for that perfect car or perfect something...what if you never get the chance to have it?...life is terribly short and can change in an instant so be sure and take every opportunity life offers you and try your hardest. It's better to say "I definately won't do that again" instead of "I wonder how that would have gone if I would have just tried it out".
Wishing you all a happy drive tomorrow and sunny dry roads ahead of the car!!!
Rob
