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<p>Dean:</p>
<p>I had a similar situation. An estate sale 2 miles west of
home. A 2204 Massey tractor that had a slight miss. I talked
the seller down to 1200 from 2000 and wrote a check. I didn't go
after the tractor that evening as I was going to get it the next
day Saturday. At 8am I got a call from the seller telling me that
she was tearing up my check because a guy was there with the
original asking price in cash. <br>
Cecil<br>
</p>
<div class="moz-cite-prefix">On 12/22/2019 12:05 PM, deanvp wrote:<br>
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<div><font face="sans-serif">We have all been there on both sides.
It has been the same since the creation. Sellers can ask
whatever they so desire. IF and that is a big IF they really
want to sell, eventualy a mutually acceptable price will be
achieved. I would like to say I have never bid too high at an
auction but that would be an outright lie. But most of the
time I have pretty good discipline. But it didn't take me very
long to realize I wasn't going to make money in the antique
tractor hobby. So I now have accepted that I am paying for
some enjoyment of a hobby and some self satisfaction of taking
something that hasn't run in 20 to 30 years and making it a
functional again. I'm not into making trailer queens. All of
my tractors know and do real work. But, after 20 years I
finally have purchased a trailer queen. A 1935 JD B. And I
probably paid too much for it. But I now have a full sized
tractor to take to the local shows in AZ in the winter. But,
with all good plans, sometimes it doesn't work out as planned.
There are two major issues to deal with here and that is where
do I work on a tractor and where do I store all year around.
My original offer was made that I would pay a certain amount
on the condition that it could be stored and worked on where
it was for at least a year. This was accepted by the son of a
very good friend of mine here in AZ that passed away in
November. He took my Cashiers check to his mother, my deceased
friends wife, and she took the check but reneged on the
agreement her son had made about storage. I just didn't have
the stomach for trying to enforce the original agreement with
a grieving widow. So now I am scrambling to arrange storage at
a reasonable cost that I had originally built into my offer.
In other words I am probably going to lose my ass. So you win
some and you lose some. I may have to sell it this winter to
mimize my losses. I now have to do a new benefit vs cost
assessment. </font></div>
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<div style="font-size:85%;color:#575757" dir="auto">Sent from my
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<div>-------- Original message --------</div>
<div>From: <a class="moz-txt-link-abbreviated" href="mailto:szabelski@wildblue.net">szabelski@wildblue.net</a> </div>
<div>Date: 12/22/19 8:20 AM (GMT-07:00) </div>
<div>To: Antique Tractor Email Discussion Group
<a class="moz-txt-link-rfc2396E" href="mailto:at@lists.antique-tractor.com"><at@lists.antique-tractor.com></a> </div>
<div>Subject: Re: [AT] Antique tractors that are too expensive </div>
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If you’ve ever seen the show called Pawn Stars, you see people who
always want above top dollar for what they carry in, and get upset
when they are offered a fair price. This is even for things that
they got at a garage sale for $10, and are offered $300 dollars
for. They think that since they were told by the pawn shop owner
the real value is somewhere between $300 and $500, they should get
$500 for it. They don’t take into consideration that the pawn shop
owner has to make money from reselling it and is actually tying up
his money for possibly months.<br>
<br>
The same goes for a show called American Pickers. These are guys
that drive around the country buying antiques for resale and are
often asked to pay more than an item is worth because the owner
thinks it’s worth more.<br>
<br>
When I go to auctions I always wind up passing on things I want
because people will bid more for something that they could buy new
with a warranty for less.<br>
<br>
Carl<br>
----- Original Message -----<br>
From: Spencer Yost <a class="moz-txt-link-rfc2396E" href="mailto:spencer@rdfarms.com"><spencer@rdfarms.com></a><br>
To: <a class="moz-txt-link-abbreviated" href="mailto:at@lists.antique-tractor.com">at@lists.antique-tractor.com</a><br>
Sent: Sun, 22 Dec 2019 00:13:19 -0500 (EST)<br>
Subject: [AT] Antique tractors that are too expensive<br>
<br>
<br>
We have all seen it: the tractor the seller is asking way too
much for. Or conversely; why buyers don’t show up for our
obviously wonderful tractor that we post in
EBay/Craigslist/whatever.<br>
<br>
So listening to podcasts tonight, I ran across a podcast that was
discussing many things, including a discussion with a psychologist
from Berkeley who was explaining the “endowment effect”. I was
unaware of this. Though I had intuited it many times I did not
know it was a “thing”.<br>
<br>
Long story short it explains why people often seem to ask way more
for a tractor that I’m willing to pay.<br>
<br>
<a class="moz-txt-link-freetext" href="https://en.m.wikipedia.org/wiki/Endowment_effect">https://en.m.wikipedia.org/wiki/Endowment_effect</a><br>
<br>
<a class="moz-txt-link-freetext" href="https://scholar.google.com/scholar?hl=en&as_sdt=0%2C34&q=endowment+effect&oq=endowment+">https://scholar.google.com/scholar?hl=en&as_sdt=0%2C34&q=endowment+effect&oq=endowment+</a><br>
<br>
<br>
Interestingly, this is true regardless of how long they owned it
or whether it had any other type (e.g. nostalgia) of value. <br>
<br>
Unfortunately, the podcast did not describe how I, the buyer,
could negotiate my way around this.<br>
<br>
PS: I will be that seller if I ever sell the Pacer. (-;<br>
<br>
Spencer<br>
<br>
Sent from my iPhone<br>
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