I met a guy from Japan at the Petersen Museum Garage Sale in Los Angeles last weekend and he is interested in buying American muscle cars and taking them back to Japan. I've never done anything like this but I'm not gonna shy away from it either if there is money to be made. If I locate the type of car he wants, do I just put the two together and hope I get a taste from the seller and a "finders fee" from the buyer or should I put together something a bit more formal in terms of what I'd like for "brokering" the deal? Any guidance is appreciated! Thanx, Mike
As a "yacht broker" we have a formal contract and usually charge 10% of the selling price. First you have to get a contract with the seller agreeing to have you "broker" the car, or you can have the buyer give you a percentage on top of the selling price.
I would bet that getting a taste from the seller is more likely that getting a finders fee from the buyer. It is Japan though and their customs and traditions are pretty solid. I would just hope that the tradition is stronger to give a finders fee than to not to give one!! First I gotta find cars then I can deal with the money!
Hope doesn't enter into it. You are either doing this for money or you are not. If you are in it for the money act professionally. This means state your case to the buyer and the seller. Be clear about what you want. Then, as rustydusty says 'get a contract.' There is absolutley no case for saying after the transaction has occured, 'oh, I thought you might see your way clear to...' Another thing to ask yourself; why did the guy approach you about this idea? Do you/are you the kind of guy that looks like he does this for a living? Or do you look like a soft touch?