What's your bottom dollar?

[CobyRupert]

Until 13 years ago, yes.

Now, the church will auction the donated car, send you a form with the amount gained at auction noted for your tax records, and that's what you get to claim as your charitable contribution.

(ref: IRS Guidance Explains Rules for Vehicle Donations | Internal Revenue Service)

Interesting. Thanks for the update.
As per your link:

Donors may claim a deduction of the vehicle's fair market value under the following circumstances:
-The charity makes a significant intervening use of the vehicle, such as using it to deliver meals on wheels.
-The charity makes a material improvement to the vehicle, i.e., major repairs that significantly increase its value and not mere painting or cleaning.
-The charity donates or sells the vehicle to a needy individual at a significantly below-market price, if the transfer furthers the charitable purpose of helping a poor person in need of a means of transportation.

If the Church was going to raffle it (versus selling it), can't he claim Blue Book under the exceptions, either under the 1st "intervening use of the vehicle" (used as a raffle prize) or 3'rd "Charity donates" exceptions?
Raffles are pretty grey areas, and probably not totally legal, but isn't the Church "donating it" to the raffle and/or selling it at significantly below market price? You're back in the same boat of "What is it worth? There is no "real market" transaction."

As a donator, all I know is I donate a car. What's it worth? I don't know, I'm not an expert appraiser, there's are no potential buyers (or market) setting a value or making offers, so let's consult an expert (Kelly Blue Book). Done.
Is an IRS auditor going to determine the value of the car 12 months later, after it's gone? What are they going to base their value on?

 

[Industrial Toys]

It's not uncommon for that guy to walk around with thousands of dollars in his pocket. So the money part of it means very little. He is as fair as they come. But annoy him and look out.

As far as selling used stuff. More than once, my first offer I got was the best, and I didn't take it. Things are usually worth more when first posted.

 

[caver]

I'm not on FB so I can't comment on their marketplace (to be honest, didn't even know they had one).

I didn't either until a couple months ago. Hmm what's this? Lets click on it. I was on a musicians FB buy/sell group and had left several area garage sale type forums that had too much stuff I would have tossed in the trash. This sorta throws it out there to a general audience. I like that you can see what's available of their profile depending on their security settings. Now don't get me wrong, I loath FB but use it to stay connected to some old long lost friends. With Marketplace you select the area you want to search and that will be the default until you change it. The downside is you can't organize them by distance. I think the maximum distance selection is 100 miles but it will search outside that area. I don't think they've got all the search kinks worked out yet.

 

[PILOON]

I don't negotiate over the phone as sure as heck when buyer shows up he'll try again.
I'll simply say, 'There is some wiggle room' we'll talk when U get here.
When it comes to on line and yard sales, Cash talks.
I'd never hold an item for a possible sale as all too often they never show up and you probably lose a sale to a cash in hand buyer.
Nope, it is first come first served on used sales.

 

[lennyzx11]

Here’s my thoughts. This and a buck might buy you coffee. I enjoy buying and selling used stuff on CL, FB, and garage sales, etc.

The Seller
The seller shouldn’t say obo. That undermines his price right off the bat. But he should set a realistic price based upon market conditions. Don’t play that “Make me an offer”. It’s your stuff. Value it.
If it’s firm and you think is fair then just politely decline if an offer is made. It is expected to haggle and has been for thousands of years. The buyer doesn’t know that you don’t want to.
Don’t negotiate on the phone. The very closest reply that I like is if you in fact might negotiate. “You come up here and look at it and we can talk.”

The buyer.
Make an offer that is more than 50% of the asking price. If not worth that and you want it, then say something like, “it’s worth that but too rich for my poor pockets.” If there is room, the seller will come down on the base price.

Mention cash.(and have it) none of that “I have to talk to my wife.” stuff. Don’t start a deal if you can’t finish it.
Don’t offer an absurd low number.
It’s insulting.

Raising the price or destroying something just causes hard feelings all around. Same with talking about what a piece of **** the item is by the buyer. The seller knows the defects in his stuff. Don’t do that.

If the deal won’t come together, get up and head toward the truck. This leaves you to think about it and the guy on the other side of the fence. I’ve gotten back out of my truck and said it’s a good deal. I WOULDN’t do that if you raised the price next sentence. I’ve also had a seller catch me leaving and say ahh ****, I’ll take your offer. Leave everybody a little room to wiggle. Pride is a hard thing to swallow.

Set your own price on what something’s value is. If it can’t be matched, don’t try to “win.” Just say something polite and stop the dealing and wasting time.

Try to see if there is some way to “lump” things together for a deal. The seller obviously wants to sell and the buyer wants to buy. A marginal deal on the one item you want may be made up with a great deal on a throw in like delivery, accessories, etc. or selling All of everything for the seller in one shot. Think total package.

Try to introduce laughter into the negotiation. Everything goes smoother with a little fun.

My 2 cents,
Lenny

 

[two_bit_score]

It's not uncommon for that guy to walk around with thousands of dollars in his pocket. So the money part of it means very little. He is as fair as they come. But annoy him and look out.

As far as selling used stuff. More than once, my first offer I got was the best, and I didn't take it. Things are usually worth more when first posted.

You may be trying to say the best things go quickly even at a higher price. Things are worth whatever someone will give for them. How wold they become 'worth more' or 'less' during the posted time?





.

 

[QRTRHRS]

I had a good friend who's family was in the antique business for many years. He likely had forgotten more than what many knew. We are talking museum quality here like Chippendale, etc. One of his favorite stories was about selling an item where the potential buyer complained that the item was not "signed". He would tell them that he would gladly sign it, what would they like him to write?

Having sold things at yard sale, CL, Ebay and at flea markets, I use a variety of tactics. Sometimes I will put OBO on a listing to garner more interest. Almost always I start high enough to fairly negotiate. Sometimes I offer a price by bundling. Return buyers get better prices. I also have held items back until a certain return buyer came by that I figured would be interested then retrieved the item and offered it at a fair price.

I expect people to want to pay less. That is fine. What I do not care for is someone being obnoxious about it. If someone turns me off then I just say that I cannot let the item go for that, etc. Rather than upset someone, I have found that they may get to thinking about it and come back and pay up.

 

[atsah]

Not ten minutes ago I sold garden tractor single bottom plow, an 8 disc harrow and a seeder. All never used, I asked $50 more than I wanted, he offered $100 less than my asking price, I said i'll split it and off the garden stuff went.. I'll never use them so some one else may as well..

 

[Oaktree]

Here’s my thoughts. This and a buck might buy you coffee.

All good advice IMHO. Haggling over price doesn't need to be adversarial.

You may be trying to say the best things go quickly even at a higher price. Things are worth whatever someone will give for them. How wold they become 'worth more' or 'less' during the posted time?.

I'm not the one that posted that, but it could be that something that's been on CL, FB, your local want ad paper, whatever, for a long time may be seen by potential buyers as "it's been for sale for quite a long time, there must be something wrong with it".

Agreed that the true value of anything is what someone's willing to pay.

 

[Industrial Toys]

It's the lemming mentality. People are not interested in something when their perception is that no one else is interested either. I have found myself in a store very annoyed when inventory is gone on a stock item, only to find they have more in the back and suddenly I am not interested anymore. Best would be to snap up the LAST one on the shelf.

You learn a lot when selling stuff. If you are selling something old and have a new one. Hide the new one when people come.

If a prospective buyer starts picking the thing apart to get the price down, don't get mad like some people do. Politely apologise for it not being what they wanted and pretend to end the interaction and send them home. Or suggest, maybe they should be looking at a new one.

 

[two_bit_score]

All good advice IMHO. Haggling over price doesn't need to be adversarial.



I'm not the one that posted that, but it could be that something that's been on CL, FB, your local want ad paper, whatever, for a long time may be seen by potential buyers as "it's been for sale for quite a long time, there must be something wrong with it".

Agreed that the true value of anything is what someone's willing to pay.

It's the lemming mentality. People are not interested in something when their perception is that no one else is interested either. I have found myself in a store very annoyed when inventory is gone on a stock item, only to find they have more in the back and suddenly I am not interested anymore. Best would be to snap up the LAST one on the shelf.

You learn a lot when selling stuff. If you are selling something old and have a new one. Hide the new one when people come.

If a prospective buyer starts picking the thing apart to get the price down, don't get mad like some people do. Politely apologise for it not being what they wanted and pretend to end the interaction and send them home. Or suggest, maybe they should be looking at a new one.

Perceived scarcity does generate demand. I've put off buying something because I felt it would always be available then when it's all of a sudden gone I regret not having bought it. I console myself with the fact that 'there will always be another somewhere'. And there usually is.


I once had a VW for sale. The only thing good about the car was that it would start and drive down the road. Cracked windshield, no A/C and heater didn't work right, oil leak, torn seats and a dent somewhere. I had a reasonable price on it that I didn't consider negotiable. Guy came and looked at it and Pointed out all the negatives. My reply was, " yep but it's not eating anything." So he left, drove around the block and came back and bought it.

Anything will sell if the price is 'right;.




TBS

 

[drssg]

You may be trying to say the best things go quickly even at a higher price. Things are worth whatever someone will give for them. How wold they become 'worth more' or 'less' during the posted time?

When we were selling our previous house, the realtor described a process that made sense to me. She said that at any given time, there is a pool of buyers that are currently in the market for a house like mine. When I initially put the house on the market, I’ll see a flurry of activity. If I don’t sell to one of those initial buyers, then I’ll have to wait for new buyers to come dribbling into the market.

For a smaller item, I could see where the serious buyers would be more apt to call quickly. The ones that are just looking to low ball might take longer and be even more apt to call about something that’s been advertised for a while. They might think you’re more apt to be desperate.

Just a thought.

 

[Industrial Toys]

I don't like to lie, but a guy would almost do well to say that he has or had a bunch of whatever, and this is the LAST one.

If I was buying something that I considered hard to find used, and it was still posted after months, I too would be suspicious that it's not worth the asking price and not worth my time. It makes sense.

 

[two_bit_score]

When we were selling our previous house, the realtor described a process that made sense to me. She said that at any given time, there is a pool of buyers that are currently in the market for a house like mine. When I initially put the house on the market, I’ll see a flurry of activity. If I don’t sell to one of those initial buyers, then I’ll have to wait for new buyers to come dribbling into the market.

For a smaller item, I could see where the serious buyers would be more apt to call quickly. The ones that are just looking to low ball might take longer and be even more apt to call about something that’s been advertised for a while. They might think you’re more apt to be desperate.

Just a thought.

I agree completely.


The market sets the value. Markets change. If it goes 'on the market' and the buyers are serious at 75% of asking price and you don't sell it because you are holding out for asking price you probably over priced it for sale at that time.

I bought a lot once for about 66% of asking price within a week of it going on the market. It was over priced. I was the third potential buyer who looked at it. None of the others had made an offer. I had a specific use for this lot. They balked at my offer and asked for all kinds of concessions and additional consideration. I almost always include in any offer to pay for something that is traditionally the usual responsibility of the seller at closing. Normally a survey. Sometimes it could be a title policy or something like that. That way I can say that I'm already paying for part of their closing costs. The price of that additional item is always built into the total offer. My offer was the best they were getting and they took it.

I learned that from losing a property to someone who had pulled that on a seller I was working with years ago. My offer was really the best offer for that property but the other buyer who had come in at the same time was offering to pay some closing costs up front so the seller could walk away with only slightly more at closing but less in the long run.

They offered simplicity and immediate gratification to the seller. I lost. I learned.



TBS

 

[Industrial Toys]

It's a matter that takes nerves of steel. Price your house below market value, have tremendous interest and a bidding war that get's you more than you would have gotten, even if it had been listed slightly over market value, and it just would have sat there for months, a stale listing. Particularly for entry level stuff.

 

[caver]

A day in my life selling stuff I don't need on FB: And yes he was a kid who looked young enough to be in high school
The Low Ball Kid: Is this still available?
What’s the lowest you would go
Me: What's the highest you'll pay?
350 right now
I've turned down much higher offers.
Well what would you take
You make a counter offer. Aim high.
I needing something small like that for my boat to fish at night and don’t have a whole lot you spend would you take 400
I repeat, I've turned down higher offers.

I think he got the message the second time and never heard any more.

 

[two_bit_score]

A day in my life selling stuff I don't need on FB: And yes he was a kid who looked young enough to be in high school
The Low Ball Kid: Is this still available?
What’s the lowest you would go
Me: What's the highest you'll pay?
350 right now
I've turned down much higher offers.
Well what would you take
You make a counter offer. Aim high.
I needing something small like that for my boat to fish at night and don’t have a whole lot you spend would you take 400
I repeat, I've turned down higher offers.

I think he got the message the second time and never heard any more.

Do you wish you would have taken one of those higher offers? Did you really want to sell it?

 

[caver]

No/Yes but not desperate.

 

[two_bit_score]

No/Yes but not desperate.

Sounds like you overpriced it and then expected him to bid against himself. Can you blame him for thinking you really didn’t want to sell it and moving on to better pickings?

 

[Dftodd]

I dealt with a few of those clowns last week. Wife and I sold our camper and posted it on two sites. Craigslist and the local face book market place.

I won't post anything on Craigslist now. All the traffic for our camper was through face book. Craigslist was nothing but clowns, low ballers, and scammers. Had two guys ask about our bottom dollar. I had to reply back full asking price. It's been advertised for less then 24 hours. :banghead::banghead:

Got home the day after we posted the camper. Had one couple with my wife already looking at it and more cars showing up. Had two solid offers within an hour of me getting home. The first was $500 below asking price, the second was full asking price. Camper was sold within 26 hours, and out of our yard in 48 hours.