The Flipper world is really messing up the car market

[eldubb440]

it takes two to tango.......... if people stopped over paying for junk, the flippers would go away

 

[68BabyBlue]

it takes two to tango.......... if people stopped over paying for junk, the flippers would go away

But remember PT Barnum. “There’s a sucker born every minute.”

 

[RemCharger]

An *** for every seat .

 

[eldubb440]

you really cannot blame the flippers........ they take a certain amount of risk, in hopes of landing that sucker........ it's just free market capitalism

 

[68BabyBlue]

you really cannot blame the flippers........ they take a certain amount of risk, in hopes of landing that sucker........ it's just free market capitalism

I've spent a lifetime owning GTXs because I love the cars, not to make money. But I've done okay with them financially, because I wouldn't put a tarted up piece of junk in my stable, and was always happy to burn a plane ticket for a personal inspection, rather than spend significant money based on a photograph. As a seller, I've been surprised how much of the market doesn't operate that way.

 

[Budnicks]

I know it's "alleged" Capitalism,
(I'm all for Capitalism too) but;
the unscrupulous people that are doing it, knowingly
& will lowball you to get it even cheaper, especially people in trouble,
in need of $$$
& the ******** (no different then the sleazy used car salesman stereo types, everyone hates)
& they all have been doing it, even before since I was a young buck
are despicable/unredeemable people,
praying off the mostly younger crowd, or those not wise to it
& those who can't afford it &/or people that don't know any better
it ruins the hobby,
(especially the auctions/Mecum that keep selling the same 100 Hemi cars over & over again)
& the "flippers" are not into the cars
they're seemingly only fleecing the general public, for a freaken' buck

 

[Hey-O]

it takes two to tango.......... if people stopped over paying for junk, the flippers would go away

Worked for me for years, but I turned junk into gold. I never sold a house, yes, in my case houses, that they didn't stand in line to get. Did they pay for it, yes they did.

 

[68BabyBlue]

I know it's "alleged" Capitalism,
(I'm all for Capitalism too) but;
the unscrupulous people that are doing it & have been doing it
since I was a young buck are despicable people,
praying off mostly younger crowd, or people that don't know any better
it ruins the hobby,
(especially the auction/Mecum that keep selling the same 100 Hemi cars over & over again)
& the "flippers" are not into the cars
they're seemingly only fleecing the general public, for a freaken' buck

View attachment 1708059

I nearly took the A33 car to Mecum in 2020, but event was cancelled after Covid. When the dust cleared, I couldn't bring myself to pony up the fees. The auction companies have been doing well flipping my former car, better than the owners. That car has entered a realm outside the hobby as we know it. Hasn't been driven a mile since I sold it.

 

[Hey-O]

Capitalism, not communism. No one has to do anything but make up their mind. An informed consumer will keep prices in check with quality. Know what you want and do your homework.

 

[MarPar]

An *** for every seat .

A butt for every bucket lol

 

[chargervert]

I saw two Charger rollers I sold that I thought I did well on sell for three times the selling price shortly after selling them. There won't be any bargains on the next one.

 

[Detective D]

Yeah, but a 39k turnaround in 3 weeks is beyond inflation. Be careful out there…

Nah, not once you are talking about $50k cars.
you have to also understand that working Joe's are not buying this stuff. So "normal money" is not even part of this equation.
All of this falls into the realm of the day trader or corporate honcho's that bring home enough to buy a home in 2 years. They rode the wave, doing the same thing the flippers do but in a different arena(and still on the backs of their neighbors but that is how our society has decided things should work) so they have money coming out their ears while the working Joe's are figuring out how to pay their new 30-80% higher monthly bills.

So when you look at this situation, it is not the same as looking at the price of gas. the people involved don't GAF what gas costs, they don't really care what any daily life thing costs all said and done(they will complain but won;t change their lifestyle because they don;t have to)
They have established themselves where their home value has gone up but they had no mortgage so they don;t care as much about that, they don;t mind the electric bill went up $150 a month because they spend that on a Friday dinner, and so as they have gained with the times, they can spend with the times.

"Beyond inflation" is not a thing. It is just a matter of where you fall in the new wealth divisions. Flippers know they can tap into the upper castes. So then you see stuff like this ad.

 

[DynaBro]

Some of the replies here deeply disgust me. We are living in the collapse of a nation due to immorality and unchecked greed and here you guys are defending the practices that led us here. It shouldn't require a man to be a paragon of virtue to simply represent a vehicle he is selling accurately without taking painstaking efforts to hide major flaws through photo magic or put up a series of labyrinthine hurdles though omission for a potential buyer to decode in order to reveal the true condition of the vehicle. Shame on you.

The last vehicle I sold I spent a week typing out every single flaw and a list of repairs I would recommend. When potential buyers came to see it I started out showing them the flaws first. I have a policy that I never want to hear from you again after money is exchanged and the onus is on me to make sure you know what you are buying.

"Buyer beware" is a terrible way to run a society.

The Flipper world is really messing up the car market​

Yes, it is. Because none of these cars even sell at those inflated prices. So the problem potential buyers like us run into is sellers only see these numbers when they research their vehicle's potential value. And many times these sellers are inheritors or just previous suckers. They see High Octane or Gateway Classics and similar resellers with their fancy photos and think their car is worth absurd numbers. So we have to talk them down from the ledge and the entire process starts off on negative footing. When one of these showroom cars does sell they never list the actual price. The only way to gauge market value is the sales cataloged at Classics and Bring a Trailer. Which is incomplete. Nobody wants to face this. Nor will they accept the reality of a car asking $60K that failed to even reach $42K at Mecum.

Hee's another prime example: 1970 Dodge Coronet Super Bee | eBay

It's a bondo buggy they are hiding the cracks on, and is stitched together from random parts. The dash isn't even a Super Bee dash, has no fender tag. Owners don't want to deal with the fallout from a real buyer getting angry so they're using a reseller to protect them from the fallout. It's all slimy.

 

[DynaBro]

"Flippers", remember you could have bought it first.

You never fail to miss the point entirely. Nobody wants this car. That's why the DFW MOPAR club guys didn't buy it. They saw it and know Paul. The gripe is misrepresenting cars is sleazy and inflating the market with these absurd asking prices that they never sell for, and then never posting the true sales data, is, as the OP says, messing up the car market.

 

[Slap Stick]

There aren't any sellers if there aren't any buyers.

 

[chargervert]

Some of the replies here deeply disgust me. We are living in the collapse of a nation due to immorality and unchecked greed and here you guys are defending the practices that led us here. It shouldn't require a man to be a paragon of virtue to simply represent a vehicle he is selling accurately without taking painstaking efforts to hide major flaws through photo magic or put up a series of labyrinthine hurdles though omission for a potential buyer to decode in order to reveal the true condition of the vehicle. Shame on you.

The last vehicle I sold I spent a week typing out every single flaw and a list of repairs I would recommend. When potential buyers came to see it I started out showing them the flaws first. I have a policy that I never want to hear from you again after money is exchanged and the onus is on me to make sure you know what you are buying.

"Buyer beware" is a terrible way to run a society.

The Flipper world is really messing up the car market​

Yes, it is. Because none of these cars even sell at those inflated prices. So the problem potential buyers like us run into is sellers only see these numbers when they research their vehicle's potential value. And many times these sellers are inheritors or just previous suckers. They see ******* High Octane or Gateway Classics and similar resellers with their fancy photos and think their car is worth absurd numbers. So we have to talk them down from the ledge and the entire process starts off on negative footing. When one of these showroom cars does sell they never list the actual price. The only way to gauge market value is the sales cataloged at Classics and Bring a Trailer. Which is incomplete. Nobody wants to face this. Nor will they accept the reality of a car asking $60K that failed to even reach $42K at Mecum.

Hee's another prime example: 1970 Dodge Coronet Super Bee | eBay

It's a bondo buggy they are hiding the cracks on, and is stitched together from random parts. The dash isn't even a Super Bee dash, has no fender tag. Owners don't want to deal with the fallout from a real buyer getting angry so they're using a reseller to protect them from the fallout. It's all slimy.

The car has the correct dash for a Superbee. All 68 to 70 Superbees had the Chargers rallye dash as standard equipment.

 

[Richard Cranium]

The whole world is out of control. Big money doesn't necessarily represent big brains.

Exhibit A ....

https://bringatrailer.com/listing/2003-acura-nsx-t-22/?utm_source=dm&utm_medium=email&utm_campaign=2024-08-11

 

[Hey-O]

Exhibit A ....

http://[URL]https://bringatrailer.c...e=dm&utm_medium=email&utm_campaign=2024-08-11

[/URL]

That's for someone that thinks that's in the same class as a Lamborghini. Maybe, but not for me. I want a car for driving, not as a false penis extension to hide in a garage. What a waste of money, to me anyway.

 

[Speedbird]

Unbelievable: Sold car now he want's his money back
If I equate "flipper" with "dealer" the person so labeled might get to a given car first and hold it ransom.
Generally speaking, any person in the business of buying and selling has spent time and is possibly gaining profit on their time.
Fair dinkum.
But if under consideration the OP is specific to a hobby, most of us have limited time to spend on it and therein lies the rub.
We are not doing it for a living. And perhaps someone could not have gotten there first.
Under consideration is a reportedly undesirable car that languished.
But consider more desired cars in the scenario like grandma's cream puff Cutlass and the economic situation.
In 2012 during "the great recession" when many houses were in foreclosure, I made a cash offer on a desirable property for more than the listing.
(Last sold for 450K. Bank owned listing for 150K. I was going to live in it. Primary residence.)
I found it on Zillow and got there even before the 15 day "first look initiative" at the time was up. It was not on MLS either.
But another agent was "friends" with another buyer. They got the house for less than my cash offer.
Ostensibly, there was already a contract on it.
And the listing broker was "out of the country" to my agent.
That's a long story short with details left out. But it was very shady and may illustrate a point. The buyer later sold it after waiting on a special loan to buy it. (Can't say more)
The bank holding the property took less than my cash offer. My offer was much better time wise as well.
I've got the listing and sales for my county at that time in a magazine.
It's obvious what was happening. Agent's were snapping up the desirable properties on the first day. They got there first.

 

[Cheapsunglasses]

Car flippers and car show trophy hunters are trying to ruin the hobby. Trying to make everything about the numbers, production number, date code, price tag, how much was spent on the car, numbers numbers numbers. That’s what some people chase after. I bet the people that buy cars like that don’t even a give a flip how good/bad whatever, they spent x amount and now their pp feels really big