Car collector chronicles 06 15 by Dave Yaros

Car Collector Chronicles ®

Volume VIII, Issue 6

Exploring:

• Car Collecting Today

High RPMs

• Classic Rides • Reports From the Field • Oldsmobile (1897-2004) • Cadillac (1902- ) • Allanté (1987-1993)

• Corvair (1960-1969)

◄ = Clickable Link

IN THIS ISSUE: High RPMs

GDY Nets® On the Web

Sale Saga

Sales Speak

Finally, warm weather is teasing us. We have actually had some truly summer days here in SE WI, interspersed with days that feel like late fall (30 May=47°!). Our car show season is now officially underway. This month is the CadLaSalle Club Grand National Meet. We shall be in attendance. If you are there, do come look me up and say hi. July will be the OCA National. We shall be in attendance. If you are there, do come look me up and say hi. August will be the Milwaukee Masterpiece gathering on the lake front. A good setting, good people and a good time. Saturday, 22 Aug is Club Day when us owners of non-concours cars are invited to show off our rides. I do have news on the status of The Gray Lady. See

CCC® Forum EMail:

◄

OldsD88@gmail.com ◄

“Sale Saga” on P. 2. June Automotive Milestones 3/1864 R. E. Olds born in Geneva, OH 6/1925 Walter P. Chrysler incorporates Chrysler Corp.. 6/1933 1st drive-in theater opens in Camden, NJ 7/1928 1st Plymouth built 12/1954 Packard offers tubeless tires 12/1975 Chrysler Imperial production ends 16/1903 FoMoCo formed 16/1953 Ford intros Master Guide power steering 17/1946 1st mobile call made from a car in St. Louis 18/1923 1st Checker Cab produced 19/1947 Tucker premieres in Chicago 20/1941 Ford signs first contract with UAW 25/1956 Last "true" Packard produced in Detroit 26/1958 First Datsun (Nissan) exported to U.S. 27/1985 Rte 66 decertified

30/1953 Corvette debuts at N.Y.C. Motorama 30/1969 Last Rambler rolls off assembly line

June 23—June 27 Cad GN - Wash ‘em, polish ‘em and drive ‘em!

GDYNets® on the Web Find GDYNets on the web:

Pics That Caught My Eye

June 2015

CCC -THE FORUM ◄-A web site to discuss the newsletter, the hobby and our cars. Car Collector Chronicles® ◄ Saved 62 ◄-Our 1962 Olds convertible, Ransom Eli Olds and things Oldsmobile related web site. The Gray Lady ◄-1955 Cadillac Coupé de Ville web site.

SAVED 62: A website devoted

to our 1962 Oldsmobile Dynamic 88 convertible. The site also has a lot of information on Oldsmobile cars and the company founder, Ransom Eli Olds.

THE GRAY LADY: This website features our 1955 Cadillac Coupé de Ville, lots of Caddy information and an extensive repair library.

DAVE’S DEN: ◄-A site devoted to a myriad of interests. Foremost is extensive information on the “Steel City” of Gary, IN. There are also offerings on steel making, U.S. Steel-Gary Works, U.S. Marine Corps, M14 assault rifle, of course Oldsmobile, and the tragic story of the murder of Gary, IN Police Lt. George Yaros.

Car Collector Chronicles

Page 2

Sale Saga

“I believe it is not good for these cars to be left to simply sit. They are made, and need, to be driven!”

If you are a regular reader of CCC® you know that The Gray Lady has been on the market. That has been case since mid-to-late March. As with most owners of collector cars, in reaching the decision to sell a number of questions were raised: Why sell, where to market the ride and how does one determine the asking price? In this article we shall go through the entire process that owners go through when selling their ride. The why behind the decision to sell, at least for me, was not an easy one to make. I do like the car and take pride in being able to own her. She has such beautiful lines and speaks so eloquently of a bygone era. She is a feast for the eyes and never fails to attract attention when taken out and driven. Therein lay the problem. She was not being taken out and driven. During six years of stewardship less than 200 miles were recorded on the odometer by me. Needless to say, with so few miles opportunity to garner attention and admiration while out on the open road were few and far between. Also, and I appreciate there indeed may be differing views on this, I believe it is not good for these cars to be left to simply sit. They are made, and need, to be driven! If for no other reason than to keep gaskets, seals, etc. pliable and functioning as designed. Likewise, the body, undercarriage and interior want to be exposed to free flowing air. It keeps everything nice and fresh, so to speak. When it gets to the point that all one is doing is working on the car to ameliorate the consequences of it not being driven and it becomes painful to watch the car deteriorate, the decision to sell becomes easier. Having made the decision to sell, the next matter to deal with was where/how to market her. Available marketing options are so plentiful that they can be overwhelming for a seller. In any marketing decision one factor that is always paramount is to be able to reach the highest possible number of likely buyers. Auction, paid classified, and free internet listings are just a few of the marketing avenues one may pursue. The question to be answered n making the decision on where to market is, “What is the goal?” It can be to sell at the least advertising cost possible. It can be to sell in a manner that yields the highest price possible. Maybe one wants to sell as quickly as possible? All these considerations need to be addressed when marketing a car. In my case the decision was made to first try the no cost approach. My thinking was, if that did not work I could always resort to “Plan B;” placing a for sale sign on her at the upcoming Cadillac-LaSalle Club Grand National meet. I also had a Plan C. It was an ad in Hemmings Motor News and/or a paid listing on numerous high traffic internet web sites. In addition to word of mouth local advertising, The Gray Lady was listed on every Cadillac related web site I have been frequenting for years. She was also listed on the AACA Forum ◄. Additionally, about a dozen web sites offering free listings were utilized. I did not want to limit my target market to Milwaukee, the state of Wisconsin or even the United States. To that end I made sure one listing received exposure in the Chicago area and I also spread the word, via email, among all my contacts abroad; England, Italy Argentina, Australia and New Zealand. Lastly, I placed a free, no picture ad in the Cadillac-LaSalle Club magazine, The Self Starter. Let me digress for a line or two and talk about the ad listing itself. In addition to describing the car, providing a few pictures and stating an “asking price,” I provided a link to a web site I created to present the car. That linked web site housed eighty (80) photos of the car showing the good and bad, along with a detailed history of ownership. Two points, I feel, are critical in this regard. One simply may never, ever have too

Page 3

Car Collector Chronicles

Sale Saga—Cont’d

many pictures of the car they are trying to sell. No or only a few photos sends a message that the seller is not being open and above board about the ride. Rather than wonder what is it the seller is hiding, potential buyers simply move on. There is a good reason for specifically stating that the price for which the car is for sale is an “asking price.” It conveys to potential buyers that you are negotiable. Everybody wants a deal. If it is apparent that there is no possibility of such, the pool of potential buyers decreases significantly. If you are willing to negotiate price, say so, up front. Having talked about the importance of stating an “asking price,” how does one determine what that amount should be? My standard here was one of, “What is fair and reasonable?“ Of course I knew what I had paid for the car. I also knew how much money I had put into her over the years. Contrary what those outside the hobby think, when one is selling their old ride they are lucky to break even. I knew full well that I was not looking to get rich from this sale. A get rich kind of attitude generally leads to a no sale and a seller asking themselves why no one wants to buy their car. I wanted to know what similar cars had actually sold for, not what asking prices where. There are ways to find this information. Hagerty Insurance ◄ has a tool that tracks value based on actual sales. I found it useful. Searching the net for similar cars being offered for sale often also yields sold listings. Auction results from major auction houses are able to be researched. Of course there are the questionable data supplied by NADA, Kelley Blue Book and the like. In the end, I had bunch of figures. After studying them, I chose to ignore some, threw out the highs and lows and averaged what remained. That process led me to my “asking price.” Yes, it was at the high end of what I thought the car could bring, but The Gray Lady is not just any “run of the mill” ride and I was prepared to be somewhat flexible on the price. I did get some helpful advice from a professional dealer in classic cars. He confirmed that my asking price was in the ball park. He also told me to expect it to take anywhere from 30 to 90 days to sell the car. That was good to know, as it helped to stave off becoming discouraged due to what might seem like a lack of interest in the car by potential buyers. Now for the bottom line. The Gray Lady has been sold! That happened on 14 May. The buyer is from Texas. He saw my ad in the Cad-LaSalle Club magazine. He called, we talked a bit about the car. In actuality, I told him little-to-nothing that wasn’t available on my linked web site. I suggested he study the eighty (80) pictures I had made available (viewed by 241 people) and, after having done so, give me a call back. I figured that would be the last I would ever hear from him. To my surprise, within a couple of hours my phone was ringing and he was on the line. We were able to negotiate a deal in short order. He made an offer less than my asking price, but not terribly less. I think he was shocked when I accepted it without any dickering? Within two days I had the purchase monies in-hand. The car now awaits transport. I have subsequently learned that The Gray Lady was but 1-of-32 cars he purchased that week in his buying binge! All tolled he now owns 139 classic cars. The buyer is particular and will use only one transporter. It is a husband/wife duo with a 3-car enclosed trailer. They have made it known it shall be more than a while before they will be able to pick up the car. The Gray Lady shall be waiting patiently. In the meantime, perhaps I should get a picture of her with me behind the wheel for posterity? Believe it or not, I do not have one. The Gray Lady’s new home will be Bill’s Backyard Classics Auto Museum ◄ in Amarillo, TX. There, she will be able to be seen and appreciated by fans of old rides. If anyone ever told me that a ride I owned would be on display in a car museum, I would have asked them what they were smoking? In summary: Target your market, provide plenty of info and photos (importantly, give them the good, the bad and the ugly), research your price, be willing to negotiate and last but not least be patient!

“One may never, ever have too many pictures of the car they are trying to sell.”

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Car Collector Chronicles

Seller Speak Having just successfully concluded the transfer of stewardship over The Gray Lady, I thought it might be fun to take a tongue-in-cheek look at car sales jargon based loosely on market place fact. When a seller says, the reality of the situation is: SELLER SAYS

—

The Reality Is

ASKING, VERY FLEXIBLE—I know I will never get my asking price. $1,000’s off, if you got cash in fist. No offer will insult me! BODY FAIR—No metal remaining below the bondo BODY GOOD—Body is not really good. It's useable, not more. Don't assume anything. All major holes were fiberglassed, then filled with bondo BURNS NO OIL—Just leaks like a sieve CALL ANY TIME—It's hard to sell it COMPLETELY RESTORED—Fixed it, so that it can be sold, but still shows that it was done the "El Cheapo" way . . . CONCOURS—Had it washed and waxed DELIVER FOR EXPENSES—I'll do anything to get rid of this car! DESIRABLE CLASSIC—Nobody likes it DRIVE ANYWHERE—Within a few miles of your home, during daylight hours, when it's not too cold /hot and you don't need windshield wipers. DRIVE IT AWAY—I'm on a hill ENGINE QUIET—Thank God for 60-weight oil and STP! ESTATE SALE—We're cleaning out the garage FINE OLD CLASSIC—Old car FIRM—$1,000 off for cash FORMER SHOW WINNER—At the 1967 Kiwanis pancake breakfast GOOD INVESTMENT—Value has hit rock bottom GOOD SHAPE—Just some hidden frame damage HAS BEEN APPRAISED—I want an outrageous amount for it HAS CLASSIC LINES—Yeah, the Edsel does too IMMACULATE—Had it washed INTERIOR NEEDS SOME WORK--Family dogs were fighting in it LEAVING THE COUNTRY—Bank is going to repossess it MAJOR TUNE UP—-Sandblasted the spark plugs MINT—An oxymoron. Mint does not exist and cannot be created with any kind of money. Therefore, the seller implies one of the following: Painted a light green color. Looks good, at least to me . . . MODERN CLASSIC—AMC Pacer MUST SACRIFICE—Can't give it away. Need money. Finally gave up and found a better car. NEEDS MAJOR OVERHAUL—Ready for the boneyard NEEDS MINOR OVERHAUL—Needs extensive work NEW TOP—Only 4 years old NO TIME TO RESTORE—Parts nonexistent OTHER INTERESTS FORCE SALE—Spouse said "dump it" PARTS CAR—All useable parts have long been stripped off RARE CLASSIC—Nobody liked it when new RESTORED—Fixed up ROUGH—Too bad to lie about it SHARP—Whitewall tires SOLID AS A ROCK—Everything rusted together STORED 20 YEARS—Engine froze when new YOU FINISH—There's no light at the end of this tunnel 99% COMPLETE-—Most important stuff is gone 99% RESTORED—Can't find the rare parts needed to finish 95% RESTORED—And about 75% to go Copyright © 1999-2009 CALIFORNIACLASSIX ◄

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Car Collector Chronicles

Pics That Caught My Eye

Now that is rocket power!

Triple A, looking out for you? Courtesy Old Motor Forum ◄

– Ok, I’ve had my say for the month. Now it’s your turn! I invite/encourage submission of your comments, opinions and article contributions. I also ask that you please help spread the word about our publication. Everything sent shall indeed be reviewed by me. Submissions should be sent to CCC® at OldsD88@gmail.com. –– Now that you have finished reading this month’s issue of the newsletter, if so inclined, like CCC® on Facebook® by going here ______________________________________

-- RESTORE 'EM, AND DRIVE 'EM! COMING NEXT ISSUE: • Cadillac-LaSalle Club Grand National Meet, Milwaukee