Introducing........RAT’S NEST

[67BelAir427]

Great story and research on owner history ! I have a question, and I am in no way attempting to dampen the spirit or be critical in any way. The difference between the price you paid and the actual value of the car on the day you took delivery, I assume is not a small amount ? There was a landmark court case here in Canada where a sale was reversed because the purchaser was slightly more knowledgable than the seller . The amount was less than $5000 . Seeing as we all have had our "great score" stories, but few have been as fortunate to have one as spectacular as yours, I just wondered if you were at all concerned that the seller might have remorse and want it back ? Or ask you for more money ? With our litigation prone society and the internet I just wondered if it was a concern?

[R68GTO]

Originally Posted by 67BelAir427

Great story and research on owner history ! I have a question, and I am in no way attempting to dampen the spirit or be critical in any way. The difference between the price you paid and the actual value of the car on the day you took delivery, I assume is not a small amount ? There was a landmark court case here in Canada where a sale was reversed because the purchaser was slightly more knowledgable than the seller . The amount was less than $5000 . Seeing as we all have had our "great score" stories, but few have been as fortunate to have one as spectacular as yours, I just wondered if you were at all concerned that the seller might have remorse and want it back ? Or ask you for more money ? With our litigation prone society and the internet I just wondered if it was a concern?

It's not a concern of mine for a couple of reasons....1) I myself was not sure what the car was when I bought it. 2) the owner openly discussed with me the possibility of it being a COPO car several times over the years including the day I bought it. Several years prior, he had a "local expert" check it out for that very reason and was told it was not. He had ample opportunity to get on the internet and do some homework.
I know the guy and like him very much, and will likely pay him a visit if/when I sell the car - if my investment total is significantly lower than the selling price. Tough to do these days.....as the saying goes "ya know how to make a small fortune selling collector cars? Start with a large fortune!"

[cook_dw]

Originally Posted by 67BelAir427

There was a landmark court case here in Canada where a sale was reversed because the purchaser was slightly more knowledgable than the seller . The amount was less than $5000 . Seeing as we all have had our "great score" stories, but few have been as fortunate to have one as spectacular as yours, I just wondered if you were at all concerned that the seller might have remorse and want it back ? Or ask you for more money ? With our litigation prone society and the internet I just wondered if it was a concern?

Are you serious..??.. That is one of the dumbest court cases I have heard of in a while.. Shame on the seller for not doing their homework.. He agreed to the selling price originally. Suck it up buttercup and learn from your life lesson. What is this world coming to..


Now in the case of this car like I have seen with others in the past local to me if a car was purchased cheap and then flipped for considerably more money MOST people with a conscious will go back to the previous seller and give a little "kickback".

[Tracker1]

Originally Posted by cook_dw

Are you serious..??.. That is one of the dumbest court cases I have heard of in a while.. Shame on the seller for not doing their homework.. He agreed to the selling price originally. Suck it up buttercup and learn from your life lesson. What is this world coming to..


Now in the case of this car like I have seen with others in the past local to me if a car was purchased cheap and then flipped for considerably more money MOST people with a conscious will go back to the previous seller and give a little "kickback".

Agreed.

[iluv69s]

Originally Posted by Tracker1

Agreed.

I disagree... sounds good in theory, but I believe that very few would do that.

Jmho

[bergy]

I have negotiated an agreement with the seller for a future additional payment if I am able to document a rare car. I think that it's a good idea if you are paying a "maybe" price for a rare car. I've actually paid out on the agreement in the past.


To be honest, I really hate those stories of buyers who know for certain that a car is rare and valuable and proceed to rip off widows and other sellers who are not knowledgeable. However, I believe that it is fair to offer $50k for a car that has a future worth of $150k if the buyer is faced with a $100k restoration bill! Many people don't understand how expensive these restorations are - especially if rare parts are missing or damaged.

[67BelAir427]

Originally Posted by bergy

I have negotiated an agreement with the seller for a future additional payment if I am able to document a rare car. I think that it's a good idea if you are paying a "maybe" price for a rare car. I've actually paid out on the agreement in the past.


To be honest, I really hate those stories of buyers who know for certain that a car is rare and valuable and proceed to rip off widows and other sellers who are not knowledgeable. However, I believe that it is fair to offer $50k for a car that has a future worth of $150k if the buyer is faced with a $100k restoration bill! Many people don't understand how expensive these restorations are - especially if rare parts are missing or damaged.

Well said, I totally agree. The flip side of the " score of the century" should never be someone elses's loss. You should be commended for your honesty.