Topic: Dilemma Ultra Honest or Ultra Profitable

[ElCheapo]

Dilemma Ultra Honest or Ultra Profitable

As most of you know I run newspaper adds to pick up old bikes dead or alive. Today I was called on my bluff much more than ever. I was called to come out and look at a 1980 Kawasaki Z1 Classic 1000 . I was hoping that it would be in a condition that I could buy. When she said $1,000 U.S. I knew it was out of my league and I would have to sell it on consignment for her .  I met with the little old lady who owned it. We traveled to her garage to take a look. She started to take back the bed sheet that was covering it. I was awestruck, dumbfounded, out of breathe, and shaking.  I simply could not hide it. This bike was in museum condition with the exception of some gold pieces she had added to the bike when she bought it. Paint…. Was MINT!!!. Chrome was exceptional. Only the gold aftermarket pieces had spotted rust…… It gets better; she has ALL of the old chrome pieces including the now appearing N.O.S. exhaust for the bike. When I starred at the bike I was without words for several minutes. This was simply something I could hide.  OMG!! This bike does not even have 4,000 miles on it!!!!!

I wish I could have hid my excitement for the bike. But at this point she is a customer in which I must get top dollar for her bike. Lack of scruples could have rendered a better yield in the end but…. Well you know.

I know these bikes can range from $2,000 to $5,000. They have a very violent price range that can be brought down by fly crap on the tank.

ARAGGHHHHH!!! I could have scored so much better. But the bike was in such a condition that I could not have talked badly about much of it to make the price come down.

I think I did the right thing………………..

[lifeofthe88@yahoo.]

righton. i had the similar fortune when my granpa siad i could have hiis old bike.1964 yamaha 250.hoped it would be a harly but still not bad

[Raul CB750K1]

You did well, I hate those people that start to complain about the bike or cars they are about to buy just to take the price down. I always like to pay a fair price, but get the lowest I can, in such a way that the seller doesn't feel cheated.

Just a couple of days ago I called a guy who put an ad for a CB750 K1. I couldn't believe it because there are not many in Spain. The guy told me the bike was his father's, that sold it to a friend. The friend's son was killed in a bike crash so he parked the bike for 15 years. Now the son bought it back and was restoring it. He put the ad just to check the interest, but didn't know how much to ask for it neither wether he would sell it or not. When he told me the condition I told him: "Tell you what, if I were you I wouldn't sell it". The guy freaked out. I also told him "I have a CB750 and is a great bike. I just called in case it was a parts bike, but if it is a runner and it belonged to your dad I would not get rid of it. Furthermore, you will not get what you are spending on the resto" Sent him some info and links and the guy was grateful. But I told him: "if you ever think about selling it, contact me first". I doubt I will buy it because it's exactly the same than mine, but who knows...


Raul

[oldbiker]

El Cheapo, You may not believe this but my advice is be honest. When you get to my age you will look back and feel happy that you were honest. You may lose a few dollars now but people will hear of your reputation and in the long run you will gain. I would really hate people to look at me and say that S o B.

[Bob Wessner]

El Cheapo, You may not believe this but my advice is be honest. When you get to my age you will look back and feel happy that you were honest. You may lose a few dollars now but people will hear of your reputation and in the long run you will gain. I would really hate people to look at me and say that S o B.

I agree, always take the high road, you will be glad you did.

[Raul CB750K1]

When I was a teenager I bought the first Judas Priest album, "Rocka Rolla", in a picture disc. I had been looking for it for a long time and I paid about 9 euros for it, a fortune for a young boy back in 1990!!! Those of you who are old may know that picture discs are collectable items, and though you can play them they sound like #$%* compared with vynyl records. It's just a matter of construction material.

So, I bought it for listening but it sounded very bad. One day I found in a used record shop a "normal" record, so I thought. "Well, I can't afford to have two of the same. I will buy this and sell the picture disc". So I went home and returned with the picture disc. That was a record were I used to buy a lot, and when I say a lot I mean it, the owner knew me. I got the record from the shelf, went to the cashier machine and told him: "I want this, how much do you give me for this one?" I was thinking he will pay me at least 6 euro. The guy started to complain: "This record doesn't sell well, look how many do I have hanging on my walls... I can give you 2 euro" (Note, the deal was struck in pesetas, I am converting to euros so you can get the idea).

I was disappointed, but I didn't like the record so I just agreed. So I left the shop and when I have walked no more than 100 meter I realized how stupid I was. For 2 euro it was not worth selling, I rather keep it and hang it in my room wall. So I returned and told the guy: "Tell you what, I have thought twice. Here you have the 2 euro, I'm keeping the record". They guy replied "oops, have you seen the guy just left? He have told me to keep the record for him, he is getting some money and will be back to buy it, I'm sorry". The excuse and his voice tone didn't sounded convinging at all, I looked him at the eye, feeling embarrasingly stupid, left the shop without even saying goodbye and never bought from him again.


Moral: do you think it was worth for him the money he made in the deal?


Raul -a.k.a. the not-so-busy-guy-that-writes-long-posts-

[Henry Dorset Case]

you did the right thing buddy.

theres a Z1 on a local auction site that a guy wants $NZD8000 for (say $5500US).  and its not that original !

http://www.trademe.co.nz/Trade-Me-Motors/Motorbikes/Motorbikes/Classic-vintage/auction-38383464.htm

[6pkrunner]

Well by the very virtue that you posted this thread shows you have an inner struggle. And in this case this is a good thing. there are too many people in this world who only want to rip off the guy (or gal) standing next to them. By recanting your struggle, it shows you have a conscience. A person has to be able to sleep with themselves at night.
 A few hundred below appraised market value would be a good deal for all involved. To rip someone off for instant gratification is telling of one's character.

[Raul CB750K1]

Furthermore, many people will rather sell a vehicle under book value to somebody who they like or seems that will care for the vehicle. I once called a guy who was selling a road bicycle for something like 30 euro. I asked for dimensions, but the bike was too big for me. I told him "Anyway, just the parts will be worth the 30 euro". The guy refused to sell me the bike.


Raul

[GoatBaSS]

You will enjoy for but a brief time. And you cant take it with you. Good karma is profit enough.

[Terry in Australia]

So should I take that set of genuine HM341 pipes that I only paid 10 bucks for back to the local wrecking yard? I feel terrible now...............

[Bob Wessner]

So should I take that set of genuine HM341 pipes that I only paid 10 bucks for back to the local wrecking yard? I feel terrible now...............

Nah, just go back to the yard and give the guy another $10. 

[low-side]

That's different.  You went to a place of business and paid the asking price.  You didn't go to a person's house and lowball them a rediculously low price.  There is a difference between getting a deal and ripping someone off.

[Killer Canary]

Raul, was the Iron Maiden picture disc available in Spain? I've seen it here. Once.

[Raul CB750K1]

When did I say Iron Maiden? I was talking about Judas Priest.

Anyway, picture discs has been always available in Spain. Still some people collects them. I'm selling the few vinyls I still have, as I'm running out of space.

Raul

[ElCheapo]

Well, I will tell you guys I am taking the high road on this one. I will be listing the bike for the woman on eBay for a commision. I will have to go out and give it the once over and detail it before it is listed. I will post the link here when we list it.

I want to do the honest line because I would rather like to keep my integrity which happens to be high. There is a country song that says something about, not the road ahead, it's the road you leave behind. Whatever it is, it just makes sense to be honest about the whole deal.

On my commision I will make about $400-$500 for my time. And we might get the upwards of $3000 for her bike (much more than I could ever give her. I live in an area full of small communities. Word of mouth will travel fast..

I also have another deal on Tuesday that is similar for a widow of fallen rider....Honesty has to prevail.

[Buffo]

I say if that woman would have been happy getting $1000 there is no reason you should feel bad about giving her that amount.

It would be different if she wanted 3-5 grand and was a starving, freshly widowed woman with 4 kids and you waved 10 one hundered dollar bills under her nose and LIED about the object...

I think you missed a good opportunity...she wanted the grand.

Buffo The Magnificent

[74cb750]

I worked on a 1973 Z1 restoration project this summer. After $1,800 for labor and parts,
 I felt bad about the $ spent, as the guy is 71 years old, drives a beat-up old 1978 Ford pickup.....
Wants to ride it one last time before he dies, blah blah blah blash...etc etc and he will return with a KZ1300 for me to restore.

So, being a sucker, I ended up charging him $5.50/hour for labor instead of my usual $27/hour. He pays me the lower rate.
Then I find out he bought a "boat" in New York City, for $145,000.oous!!! and 2 months later never showed up with the
KZ1300 project bike.

That's it! No more deals or charging less than I should ...

Michel

[ElCheapo]

Yea thats pretty crappy

[Buffo]

around me EVERY bike mech gets at least $40. per hour...27 is a steal...if the work is good

[Terry in Australia]

I've been giving this a fair amount of thought, and have been wavering between either extreme. I was reminded of an incident 25 years ago where a lady had an Aussie Valiant Charger for sale, I drove my friend around to check it out, and she told us the car belonged to her son, who was a Heroin addict, and was in jail.

He had stolen her stereo and some jewellery to buy drugs, so she was selling it for 600 bucks to get her money back. When my mate lifted the bonnet he realised that it was a genuine "E38" factory built racer, so he told her so, and explained that it was worth considerably more than 600 bucks.

She didn't care, I think she was heart-broken that her son had sunk so low and just wanted it out of her yard as it was a constant reminder of how "Pear shaped" her life had gone, and seemed grateful that my friend was so happy to buy it. I know that this is a bit different from Cheapy's situation, but I guess there are times when no amount of money will make a difference to the situation? I've just thought of another interesting story, but I'll save that for later, ha ha! Cheers, Terry.  

[ElCheapo]

Yea these things are per event really. Sometimes I would have no problem stealing a basket case 40's Indian for next to nothing. Othertimes there is a major problem with this.

[ElCheapo]

Ok I went and looked at the other bikes from th widow. Got the 77 CB 750 SS and the CL350? Free. They should be free, they had to be dragged out of where they were. However I am getting the pleasure of selling the other bike. This V-Max is pretty nice. I would have bought it but it was way out of my price tag.

http://cgi.ebay.com/ebaymotors/Yamaha-V-Max-Pristine-condition-all-dealer-serviced-ready-to-ride_W0QQcmdZViewItemQQcategoryZ50047QQitemZ4585508827QQrdZ1

[Buffo]

My dad got to stick it to uncle sam awhile ago...He went to D.O.D. auction and was the sole bidder on a crate...

inside the crate was a 40 something Indian MMilitary Mororcycle...NEVER RIDDEN...NEVER ASSEMBLED FOR THAT MATTER!!!

I forget what he paid but it was under $500

[Terry in Australia]

Your dad must be rich Buff, bidding that much money for a crate containing who knows what? Hey I got a couple of old army crates round the back of my garage, what'll he give me for them? Ha ha, Cheers, "Urban Myth" Terry.