1969 427 COPO Barn find

[70 copo]

Originally Posted by Unreal

Well said Charley. Most of the time we endeavor to protect the ususpecting buyer, but seldom endeavor to protect the unsuspecting seller. We often applaud the buyer who got a steal, when that's exactly what they did.
About 20 years ago, my aging aunt was offered $1500 for a '46 or '47 Packard woodie, which had been in dry storage in the basement of my grandmother's grocery store since 1952. My aunt, who knew nothing about cars, especially Packard woodies, took the deal. You could argue that she was happy with the deal, so what's the harm? The flip side is that the car was probably worth at least $25,000 as it sat. If the guy had offered $15,000, I'd say he was just trying to get a good deal, but at $1500, he was outright stealing.

This board has matured since the change from the original format and that is obvious right here in the discussion of this topic. A decade ago now I publicly called out a member of the old version of this forum who also happened to be a dealer who was openly posting about the car post sale and openly bragging about getting a Yenko Chevelle from an unsuspecting less than knowledgeable seller.

Knowing right from wrong and doing the right thing is what separates this forum from the rest of them.

[Copo_Cartel]

Originally Posted by Charley Lillard

If the buyer is a dealer the seller has legal recourse for being taken advantage of.

The current owner is a friendly neighbor that works at the Marathon Plant in the area.

[Unreal]

Originally Posted by cook_dw

On the flip side. Did the guy offer $40K or was that the sellers asking price? Big difference. Sometimes money isn't the point of the sale. Just trying to give another side of the coin. At the end of the day if both parties were happy with the sale and purchase was it really stealing? Not like he held a gun to the guys head. Or did he..?..

Maybe, maybe not. If the seller knew it was worth X, and knowingly put a price of X/3, then I agree with you. But if Uncle Jim told them it was worth X/3, and the family took his word for it, then they might be happy, but happy based on bad information. Not the same as happy based on good information.

People often say a good deal is one where both parties are 100% happy. I contend that a good deal is one where neither party is 100% happy. The seller sold for a little less than they wanted, and the buyer paid a little more than they wanted.

[Copo_Cartel]

Ok.... Look at it this way do you really think this guy walked up and said hey I am going to buy your car for 40,000 and I want to sell it for 225,000 and I want to make all of the profit.... no he didn’t do that but decided to think if it stayed quiet it would sell with a big upside for himself. He knew exactly what he was doing. Why else does he buy the car in a depressed area knowing he’s not going to keep the car but probably did his research and realized I’m going to cash in at somebody else’s expense. It’s plain and simple someone was taken advantage of here. Now let’s just say he was a very honest guy if that is the case then he would need to go back to the family and say hey I will split the profits with you. This guy knew exactly what he was doing from the very beginning

[cook_dw]

I’m not taking anyone’s side here. I’m merely saying there is always 2 sides to a story. I don’t know both sides and honestly do not care as it doesn’t affect me at the end of the day. Just giving another possible scenario or perspective. Guy might be a dirtbag but who am I to say he’s this or that.?.

[chevmal]

Wow, What speculation You guy's could write a book. lol

[chads454Ls6]

Seems fishy to me. The guy buys the car for 40k, then does a video on it at the owners house and talks about How rare it is, and then he wants $225k and lives down the street? Who would want that kind of attention, and have the owners family driving by your house everyday looking like they want to “kill you”.

[JKZ27]

Lot of scenarios possible here. I keep coming back to "turned down $175". Sounds greedy.

Cool car and I hope it ends up in the right hands with enough cash left on the table for a proper resto if it needs it.

[EZ Nova]

Originally Posted by JKZ27

Lot of scenarios possible here. I keep coming back to "turned down $175". Sounds greedy.

Sorry but the new "buyer" sounds like a ass! Friend or not, knowingly ripping the people off that bad is pure SCUM in my book.

UNLESS, after the deal the buyer said that he legally stole this car and wanted to make things right and split the profit 50/50.

I see this transaction being an informed buyer praying on a less informed sell. Just like the scammers that talk older people out of there 401k or the whole reverse mortgage thing.

If it were me, and some of you better of high end car owners can disagree, but I would have taken the quick $175. Then went back to the seller with 2 cheques. First for another $30k. If the seller was genuinely happy and respectful with that cheque, then say here's the rest you should have got. And give him the second cheque for another $30k. Tell him you sold the car for $175 and you kept $75k for yourself, and they got $100k for the car.

But that's just me. Karma's a bitch and it will come back and bit you in the ass sooner or later. And I have done this on 7 different occasions now. The 2nd cheque really surprises them.

[SS427]

Most people here talk like they would take care of the seller and give them a retail price but many have not been in this situation and I honestly think you might act differently if you were the buyer while some of those same people have done just what they are arguing against. Go figure. Buying for $40k and selling for $225k is obviously a stretch but would you tell the seller they were too low if the difference was only $20k? I doubt it. Who here has not bought a home or other properties that were way below market value and in hopes of making a nice profit when selling yet no one has any issues with that????

Though I am comparing cents to dollars is this any different than going to a swap meet where someone is selling a BE rear for $2500 and you stumble across it? Would you HONESTLY tell the guy he is an idiot and his differential is worth many times that and give him the money or would you quietly and quickly dig in your pocket and start grabbing the $2500 cash to make the purchase? I can tell you honestly that I have gone to swap meets and found LS6 1111437 distributors or similar items for under $100 and quietly paid the seller and moved on. Can you people with all honesty tell me you have not done the same? I am in NO WAY condoning the situation with this COPO but am trying to make the Monday morning quarterbacks look at it from both angles.

Again, I am in no way condoning this particular situation nor am I taking sides, just trying to be realistic.