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Thread: Valuation/negotiation/pricing parts, whole...
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Klaus43
Rotorhead
Posts: 1259
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posted March 01, 2002 09:16 AM |
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Valuation/negotiation/pricing parts, whole...
...well...I'm sure we've all been here before, at some point: "how much is it worth?" or, "what's a good deal, given the unknowns with used motors, etc.?" or, "the f---ing insurance co. says my REPU was basically worthless, nevermind they can't find a running replacement."
These questions of valuation can be a tricky can of worms, for various reasons. It might be simple enough, for those of us who have replaced virtually everything on a REPU, and have a stack of reciepts stashed to prove it--nevermind a court battle w./ an insurance co. If it's not ever for sale, it's pretty much a moot point...
But, for the rest of us perhaps, with the status of our REPU's being more along the lines of long-term, ongoing projects--and the nature of the situation of rare, aging parts becoming rarer--how to assign a 'fair' price to that which is priceless?
'What the market will bear' is fine in some cases; other times it's just not appropriate, or good enough, to be at the mercy of that kind of standard...
Similarly, what a wrecking yard will sell a 'core' engine for--and what some rebuilders assess as a core charge--may or may not serve us well...
I believe we should continue to pursue the REPU being listed in such publications as the NADA 'orange book'. To this end, it would be helpful if we could obtain and verify actual REPU production/importation numbers/data per year...
Of course, this is a double-edged can of worms: establishing a collector value might increase the prices we pay for even junk parts...but it would give us some ammo vs. the insurance industry, and might even enable the retoration of a few more REPU's.
Any info./ thoughts on these matters?
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repuguru
Redlining
Posts: 319
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posted March 03, 2002 02:38 PM |
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I think the value is unfortunatly in the eye of the buyer. Are you the guy how finds the $100 running REPU stored in a barn out in Arizona. Or the guy who buys the rusted one that needs a motor for $1500 up in New York state?
I wish that a base price could be established that was recognized by all. I know the day of the $100 Corvette in a barn has long since passed, if it ever existed. But most people don't look at REPU's as collector items. At least not enough people. Yet???
So theres always the diehard rotarhead who is going to pay top dollar for his decent RX car or truck. And there is always the yokle whos only concern is whether to put a 350ci or a 454ci V8 in his superclean $100 REPU.
That sucks to think about.
____________
77' REPU plus a few spare parts
for it.
85' GSL-SE
83' GSL
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Klaus43
Rotorhead
Posts: 1259
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posted March 03, 2002 08:02 PM |
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...indeed, but then valves suck, and ports FLOW!
...and, nevermind the yokel quotient, there's still the reality of our (hopefully more restored) REPU's at least in part made of hard-if-not-impossible to find or replace parts, and of the insurance Co.'s considering our trucks essentially WORTHLESS. I have paid too much for one that wasn't all it was said to be; I've also picked up a motorless 'parts truck' for $100... but if my driver REPU got totalled tomorrow, where on earth would I find one it's equal for twice what I'd get for it? Nevermind that any and all REPU's (as all pre-rx7 rotaries) ARE 'collector cars' in the sense that they are rare and getting rarer, as well as being the worthy objects of many a rotorheads' (deserving), loving obsession.
I got started back on this thread when, after finally being emailed a photo of a "complete GSL-SE motor", the seller took offense to my declining to spend $150 for it--after seeing a photo of what looked like a core without plugs or intake, rattle-canned blue ALL OVER in a seriously SLOPPY way... and this was supposedly an appx. 120K decent runner...
Moral: A picture really is worth 1000 words, especially over a distance; if it looks abused or neglected, it probably was/is; whatever someone "believes to be true" is only worth what you're willing to risk; and, 'tanstaafl'--there ain't no such thing as a free lunch!
On a positive note: ran my REPU in autocross today--sport truck class-- and HAD A BLAST!!! WA_HOOO!!!!(I LOVE my REPU!)
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repuguru
Redlining
Posts: 319
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posted March 03, 2002 10:27 PM |
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I have sold a 74' for $500 with a few parts broken or missing. I have sold one for $3500 with everything including the dealer window sticker.
The guy who bought the $500 one had a few things to look for and a few parts to find. After that he needed to address the one lunging smoker motor and a worn out tranny.The brakes and clutch hydrolics. The clutch assembly. The cobbled radio job from 1982.The trashed interior. The rust in the bed,floorboards. The multi-welded broken door hinge. The exhaust, haha!!, the exhaust.. Yeah, thats junk too...But he knew how to do it no doubt. Then it got paint. He finally got it where I was really impressed. I was impressed by how bad he wanted that REPU to be a nice one. It wasn't a nice one, slick looking yes, but not nice. Nothing could ever change the fact it was an abortion of about 3 different year model trucks with a partial RX7 engine harness grafted to the REPU harness. Or the fact that bondo/fiberglass was used in every single panel of the truck. He spent alot of money to get it there. I don't know what he spent but I sorta know what it would cost me to duplicate what he did. More than $3500 when you add all the nickle and dime stuff. And it was still not really a nice one.
Then there is the guy who got the $3500 one. I didn't want to sell that truck so I named a high price. He took it for that without batting an eye. I was happy and sad at the same time. He took it and pulled the low mile original motor put in new springs for the hell of it and freshend the oil seals with the current ones. Re-installed the fresh motor with new gaskets. Did a rebuild on the brakes and clutch hydrolics. It didn't need much body work at all. He painted it the original color. Careful to cover the Rotary Power and Mazda stickers with tape that still looked good. At that point he had one year time in it and about $1500 bucks + the initial cost.
It is really nice.
Last I have heard a private collector bought it for way more than the guy who bought it from me had in it.
So what do you think a 74 REPU should be worth? I guess that depends on who you ask.
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Klaus43
Rotorhead
Posts: 1259
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posted March 04, 2002 07:50 AM |
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To ME, a score like the original, low-mile gem you describe is priceless...no doubt the two buyers were of similar mind. But, what really would have made it worth every penny+then some would've been if the original paint could've been salvaged, in nice shape... none of this repainting, nevermind original color, with striping taped off... next best: full-on resto with all glass pulled, rubber replaced, no bondo, 'perfect' repro lettering/striping...(in my dreams!) What a REPU 'should' go for also depends on the budget, doesn't it... if the collector paid 10K for the best example he could locate, it may have been 'worth it' in every sense... until he finds a better/nicer/more original one for any amount he can pay. It certainly sounds like the kinda truck that I would've loved to have a shot at for $3500. Though I am loath to pay even $500 for a non-running, parts-missing-or-not bondo beast, that's just because I already have 3 repu's to start with--not that they 'shouldn't' be worth anywhere from 0 to $1500+, depending on what's there and how nice or not... There's also the 'connectedness' or knowledgeability factor: no matter how rare, what do you know about that still exists that might be available for how much? Hint: The days of finding a dead REPU on someone's property that they don't know or care about are not over yet! But--unless I'm mistaken, most of those would be here in the NW... There's still no substitute for $$$$ well spent on those elusive 'gems', tho...
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