Story time.
I knew joe had the amc last. Was wondering about it after seeing a pretty nasty wreck at the track and thinking about cages. Soni called him. He had given it to his brother les as a roller.
About 20 minutes later les called me and told me to come get it. Free. Make it go away.
So, we drove to Atlanta and picked it up. He flat refused my money. I don't think it was an inside deal, as he gave away a 300gt the week before, and is cleaning out to keep the neighbors happy.
Id like a consensus that this was free, as it was and he had recent priors. However, if a ruling of NOT free is given, i think $300 due to the current condition of the car would be fair market value. Every seam weld has rust poking through, hood is buckled. Fuel system gone, wiring hacked, paint faded. Etc. Its pretty rough. But the 8.8 is there, one of the fire suppression bottles, gauges, and it came with a set of avon slicks on rusty 15x10 wheels.
Doesn't sound like any sort of special deal, barring any sufficiently convincing arguments against it I'll second "free"
On one hand it was free, from someone you barely know. On the other hand was it available to anyone who happened to call?
In reply to Patrick (Forum Supporter) :
Exactly my quandary. Hence the post. I can go either way, and can justify both to myself. So this is my effort for "don't be a dick"
Mr_Asa said:
Doesn't sound like any sort of special deal, barring any sufficiently convincing arguments against it I'll second "free"
I'd third "free" as being fair. Sometimes ridiculous deals just fall in your lap, not because of who you are but because the stars just aligned that way.
KyAllroad said:
Mr_Asa said:
Doesn't sound like any sort of special deal, barring any sufficiently convincing arguments against it I'll second "free"
I'd third "free" as being fair. Sometimes ridiculous deals just fall in your lap, not because of who you are but because the stars just aligned that way.
I more or less was gonna post this.
Although after reading this I'm wondering if I should have posted the same thing about the MR2.....
I'd say you're at minus about $100 for hauling off someones trash. ...another man's treasure.
I'll say whatever ya want provided I get to buy it next time it needs to go away
You initiated the deal, the seller knew you built it and wanted it back, the seller had nothing in it because his brother gave it to him (an inside deal itself), so it all sounds kinda insidey on the surface, even though I personally trust you and respect your $2000 Challenge sportsmanship. So just one question - before you reached out, would he have said yes that morning to a stranger who knocked on his door and said "I want your car, may I have it for free?" Otherwise, that's an inside deal.
I think $300 is fair given its condition and lack of drivetrain.
Do you still have your budget from back in the day? How much of what's in that budget is actually still part of the car? I mean, free is free and all, but is there still a rule about not selling and re-buying something to depreciate it?
In reply to AngryCorvair (Forum Supporter) :
I cam comb through the thread and find it, but dont have the budget itself anymore. However, in my defense, when i gave the car to dallas i never had any intentions of getting it back. Ever. Or taking it to the challenge again. My thoughts on using the old buget is that nothing that was on the car when i gave it away returned in anything like the condition it left in. The cage has holed drilled in it, everything is rusty and siezed, etc. Im not certain that the previous budget would apply past the cage, which is why i chose the $300 option which is actually a little more than the original budget (from what i remember) for the cage and the wheels. The challenge run again is a possibility. Not a requirement this time if you want the honest truth.
In reply to maschinenbau :
Honestly didn't even k ow joe had a brother before this....
So after sleeping on it, and rereading everything this morning, id like an fmv consensus of $300. That seems like the best thing to do, regardless of what was actually paid or not.
Can we get a $300 consensus?
Woof. I wouldn't give 300$ for tat. Maybe 150$ and a 8 pack of guiness.
I am good on $300. I would have had the same quandary.
AngryCorvair (Forum Supporter) said:
but is there still a rule about not selling and re-buying something to depreciate it?
I would think part of that would depend on how many people it has gone through since he owned it, yeah? I know the relationships with who owned what gets a little incestuous around here, but there's a good reason for depreciation sometimes.
If I sell a car to my brother and he totals it, then I buy it back for parts its not gonna be worth what I sold it for.
In reply to Dusterbd13 :
No doubt it's currently a pile, and I see nothing wrong with it being OMG get this POS outta here $free. I threw the sell/buy-back rule out there more as a question as to whether this situation fits that rule.
In reply to wvumtnbkr :
An 8-pack? Damn, you must really hate the seller. I'd rather smell 90 weight than Guinness.
Machinbau, Patrick and stampie at $300 fmv. Which is fair, and completely legitimate. I strive for being rigorously honest and above reproach in all my dealings.
Any for fouth?
AngryCorvair (Forum Supporter) said:
In reply to Dusterbd13 :
No doubt it's currently a pile, and I see nothing wrong with it being OMG get this POS outta here $free. I threw the sell/buy-back rule out there more as a question as to whether this situation fits that rule.
In reply to wvumtnbkr :
An 8-pack? Damn, you must really hate the seller. I'd rather smell 90 weight than Guinness.
I believe the spirit of that rule is to eliminate someone from "selling" their max budget car to their buddy then "buying it back" in as competed condition for $500 and spending another $1500 to essentially have a $3500 budget. We're 4 owners and stripped of most everything of value out, so i think we go with "does not apply"
the best part is the cheaty people never win anyway they are always broken or slow
Done!!!
$300 is my starting budget for challenge purposes.
I woll link this in the build thread.
If you need a 5th I think $300 is way more than fair. I'd have gone with the free because of condition alone.
You're a gentleman.
I would recommend replacing that "brake proportioning valve" stat - as it either was garbage from the beginning or I ruined it at some point.
