Just want to verify: trades are $0 on spreadsheet?

I just want to verify how trades should be entered on the budget spreadsheet.  As an example, say I trade something out of the stash of parts that came with the car to someone for whatever...  the trade get entered at $0? Do I include the FMV (or actual) value of whatever is traded somewhere on the budget sheet? In the notes section?

Thanks in advance.

I haven't even started mine yet but iirc the trade is in the notes with supporting receipts. Also value doesn't have to be $0. For example I trade a needs rebuilt double pumper for a newly rebuilt not as popular carb. Say I have paperwork showing the new carb is worth $50 more then my cost is $50. 

In reply to Stampie :

Somebody correct me, but I don't think this is correct. If you purchased a parts lot for 100$ then that gets recorded on your spread sheet. If you then traded a needs-rebuilt-double-pumper out of that parts stash for a newly-rebuilt-carb you would record it on your spreadsheet is a trade, but the cost would be 0. 

Here is what the rules say:

Direct trades do not count towards your recoup limit, but must be recorded on your budget sheet.

Stampie, you're still my favorite forum member and I'm totally inheriting your bar after you leave on Sunday.

EDIT: I think trades are a massively underused part of the challenge. I can't wait for Patrick to trade up from a paperclip to a ratty ferrari and show up at the challenge with it.

In reply to CrustyRedXpress :

You still have to value the parts.  I'll give my example as it may be different than other situations.  My car came with a needs rebuilt double pumper.  I haven't FMV it yet but say I FMV it at $250 in it's condition.  I paid $300 for the newly rebuilt carb.  It doesn't count towards my recoup limit but I trade that $250 in FMV towards the $300 new carb leaving me paying $50 for the new carb.

In reply to Stampie :
Self-trading for purchased parts with a documented price is a tortured interpretation of the rule.

This won't matter until someone protests, and no one will protest until someone uses this method on a winning car, so carry on, I suppose. (or, maybe that last part belongs in the E36 M3 talk thread?)

In reply to gumby :

Don't make me send AC to talk to you. 

Stampie said:

In reply to gumby :

Don't make me send AC to talk to you. 

My position stands. Tell him to bring beer.

In reply to CrustyRedXpress :

Someone give me a paperclip and I'll see what I can do. 
 

I have an excellent challenge candidate that I just got running today but zero motivation to build a $2000 car. Podium finishes make everything different 

gumby said:

Stampie said:

In reply to gumby :

Don't make me send AC to talk to you. 

My position stands. Tell him to bring beer.

I thought the trade rule required both sides to have same FMV, so unless you gave your carb plus $50 to get the new carb, that "trade" doesn't exist. I think Gumby is right about not assigning FMV to something with a documented price.

The magic of the self-trade is that you can combine items to balance FMV. So if you had that $300 carb in your personal stash, you could self-trade that $250 double-pumper plus $50 in interior trim parts for that $300 carb.

CrustyRedXpress said:

In reply to Stampie :

EDIT: I think trades are a massively underused part of the challenge.

You won't think that when you review MonZora's budget at it's eventual challenge appearance.

Yes, trades should be recorded as $0 transactions on your budget spreadsheet.

In reply to Tom Suddard :

So what about my trade example?  Allowed to trade carb for carb and it's $0?

Honestly, I think my personal situation is a perfectly reasonable application of self-trading: I bought an intercooler piping kit (in the budget), only used a small portion of its contents, and am trading myself the remainder of the kit for a cobra head coupler out of my personal stash that I purchased unrelated to my Challenge build a number of years ago (I have an actual receipt for what I paid).  Given that I paid $82 for the piping kit, but only used 2 of 8 pipes, 4 of 8 couplers, 10 of 20 clamps, and the coupler I'm trading for was $34.99, I feel it's a more than fair trade, especially when I genuinely need the piping to plumb another car.

So the piping kit will appear on the budget for $82, the trade for the cobra head coupler will appear as $0 on the budget, and the only question that remains is how to show the value of the partial piping kit being traded. (Probably as a proportion of original value based on what was used/what remains.)

My understanding of "trade" in this case is transactions that do not include dollars. 

If you make a trade deal that does include dollars changing hands, then you probably should consider it more like a purchase or a sale.

In reply to Stampie :

This scenario doesn't describe a trade. It describes selling the old carb to yourself for $250 FMV and then buying a carburetor for $300.

I have a good carb on the Corvette. Think I might trade the double pumper for it. 

This seems like a perfect conversation for the town hall.