Value

[Peter]

I don't know if this is the correct place to post this, but anyway.

 

How do you put a price on an item?

 

A number of factors come to mind and they are by no means exhaustive.

 

1. what you paid for it

 

2. reason for selling

 

3. market value

 

I'm sure there are more but these will do for the moment.

 

' What you paid for it' , sit down and tally up every cent you spent on it and think about cutting your throat. ( bugger these safety razors )

 

' Reason for selling ' is it a fire sale, profit making exercise or reasonable attempt to recoup costs.

 

' market value ' tough one, what will the market pay for your item? Take a look at the property market at the moment , gone mad! KE30 parts, can't give them away. ( I'm sure someone will disagree! )

 

 

The first two you can decide yourself.

 

The last one is made for you.

 

You want as much as you can get and the buyer wants to pay as little as possible.

 

How long is a 'piece' of string ?

 

I don't know the answer to this or the meaning of life.

 

Your thoughts ?

 

As this is a FORUM I hope this can stimulate some debate on the subject.

[Super Jamie]

for low priced general parts and things, i usually go new price /2 as a fair second hand value. half again if it's in shoddy condition

 

for something like a car, well... a car is only worth so much. i can spent $20k on my ke25 and still have it as just a 32 yearold corolla. i would tend to look at other similar things about the same condition and decide off that. some people tend to overinflate the price of their car, some go for a song. there are things such as the Unique Cars Vaule Guide to help with this

 

when other people want bits that i have, i'd prefer to swap something that they have, rather than sell it. money is only so useful, and so short-lived. rare and/or useful bits are much more satisfying

[demuire]

Putting a price on things... I hate doing it too.

 

I think when trying to do this, it all boils down to "How much is it worth to you?" Because, at the end of the day obviously you (the seller) would like to get as much as possible, whether it be to recoup costs or to make a profit, while they (the buyer) will want to pay as little as possible.

 

So, how much is it worth to you? How low will you go? Is it worth selling it at that price? Or would you be better off keeping it at that price?

 

It's a tough choice, and I think like you said, "how long is a piece of string"? I guess the only thing you can really do is to have a look at what other people are selling their cars for and base it from there, although for a modified car (such as your awesome KE20) it's rather hard because no two modified cars are the same. Heh, I think for modified cars it's generally something along the lines of "how much have you spent" / 3 or so :)

 

I know I've spent close to $15K on my Corolla, and no insurance company will insure it for more than $5K... Just Cars wouldn't even insure it for $3K... Although out on the open market I recon I could possibly fetch closer to $7K or $8K maybe. Heh, maybe wishful thinking...

[Peter]

I remember when I was first selling ryans ke16 a bloke came to look at it and while I was showing it to him he kept looking over at the wife's ke10.( breif description; rebuilt from ground up, 5k 5 speed etc.)

 

He eventually asked how much I would sell her car for and I said I'd have to get $5000 for it.( didn't really want to sell it )

 

Not a problem, he went straight up to the atm and came back with a $500 deposit.

 

so you never know.

 

Funny story;

 

He wanted a proper rwc done on it ( not through my usual contact ) so I took it up to the local BP. When I picked the car up the Mech said he had to fail it.

 

WTF , yeah he said the windscreen washers and demister didn't work.

 

Washers, turned knob , zzzzzzz, no water coming out, 'oh shit mate it was my wifes car I,m sorry I forgot to see if there was water in the bottle. '

 

Demister, 'Did you happen to look at the owners manual on the passenger seat, opened to the page describing how to operate the demister?'

 

'Err no,'

 

activated demister, Mech ' Its not very strong'

 

'For an optional extra on a 30+yo what do you expect?'

 

Result = Pass

 

What do you do with a drunken sailor?

[demuire]

Hehe, typical :)

[Super Jamie]

however, a overrated 69 ke10 with 76000 miles and whitewalls just went in the most recent Just Cars magazine for $3000. it was advertised for $3600 and matt was going to buy it, offering them MORE to hold it for him while he got the loan

 

some things just make you wanna cry huh

[demuire]

Pinky went for the grand price of $850 with spares, sans tyres, 5 months rego... Though I suppose it went to a friend who'd helped me out a fair bit with Hal...

[Teddy]

Great story Peter :)

 

When it comes to selling things / buying things - i like to try and make both the seller and the buyer happy - which ever position i am in. There is nothing worse than having a sale go terribly wrong...

 

A while ago when i had money, i purchased an original Nintendo Entertainment System with Working console, 2 game pads, 3 games with original case things / manuals, and the console was still in the original box with the original packing foam - grand total of $20.

 

Now, i decided (3 years ago now?) to keep it for 20 years, just to see what it would be worth - as a test. Every now and again i take it out and give it a try - make sure its working etc. Still goes great, and Mario is just never ending fun :)

 

On top of that i purchased a Sega master system & Atari. Going to do the same investment test ! - i don't know what they would be worth in 20 years, but for a cheap test, I'm not going to loose much.. (total cost of 3 working systems with accessories was about $70 three years ago)

 

Does any one else have any cheap investment stories lol

 

When it comes to selling my yellow car, I'm not sure what to do- i keep changing my mind !!!

[Peter]

Iwas trying to convince no 1 son of same with ke16 but felix will now benefit from it.

 

and then he bought a nissan gazelle?????

[pro_ke]

ke16? for sale?

 

there is motion in my trousers

[demuire]

Pro_ke: too late, Doug has it now :)

 

And what's with the Gazelle??? You should keep the KE20 and get him to sell the Gazelle instead :)

[Peter]

From ' getting him' to do homework, clean up room, save money

 

long since given up.

 

as for selling gazelle and keeping ke20, which would create greater wealth and whose pocket would it go into.

 

talk about value

[Felix]

:)

[pro_ke]

ok so felix is doug

 

hi doug, you don't go on yahoo much any more!

 

:)

[Super Jamie]

From ' getting him' to do homework, clean up room, save money

no no no, us young boys don't want to do these things. try "getting him" to drink some jim beam and play playstation alot and chase girls and spend all his spare money on his car. NOW we can talk about the perfect son :)