How do you approach potential sellers you don't know PERSONALLY?

Over the last couple of days I've gotten leads on one collection of around 100 vehicles and another of around 40. The first one is apparently all post-war Fords, pickups, and some 50's stuff. the second I'm being told is all 50's Chevy's with a couple Chevy and Mopar muscle cars. These are friends of friends and both have been reportedly disinclined to sell for many years. Just recently they have told a few friends that they think they might need to start getting rid of projects, but haven't begun to advertise anything. The two guys who told me that these are kid-gloves situations, but knowing my personality they think I'll be ok approaching these old guys.

My approach is typically one of mutual interest in old cars, which isn't b.s....I could walk through fields of old cars for hours. My question is more one of breaking the ice on a potential sale. How do you guys bring up the topic of wanting to buy? Also, in these situations, do you make an offer first or ask what they would like to have for the vehicle or part? I have done this a few ways, just looking for different approaches...

 

Walk around with $100 bills sticking out of your pockets.

 

I think you have the right idea, first bond with them over the cars, compliment their cars.

I wouldnt make an offer right away, next I would just plant a seed that if they ever feel like letting one go to a guy who would appreciate the car like they do, that they should contact you.

 

I'm hoping to head to the 100 car stash this weekend...

 

I think this is the perfect approach. Very non threatening.

 

It's all about respect, and 1928chevycoupe is dead nuts right on the money!
KK

 

Same way I do everybody,smile on my face and with a firm hand shake......

I sell for a living.....don't do to bad I might say as well.....

 

Are you even supposed to know that they are thinking of selling? I would think your friend should do the approach and ask if he can bring someone along.

 

That's a good question. The only reason they would have told me is because they know that these old guys with a bunch of cars are looking for referral buyers and likely don't want to advertise. The two guys that told me are both restorers and flippers and long time gearheads, so the old guys likely told them about wanting to sell because they trusted them to send only "qualified" buyers their way.

 

If there is a mutual friend involved , use that connection to break the ice . They are probably mistrustful from the outset , so you have work to do . I wouldn't even try to buy on the first visit . Folks need a comfort zone , it's up to you to provide it . I sell for a living ( 25 years ) and quite often talk about anything other than what I'm selling , on the first meeting . Good Luck !

T

 

Talk to them about a specific car or two, LET them bring up the subject of selling.
Its worked for me.

 

Watch Fast N Loud, use his approach. Or, American Pickers, and use their approach.

 

Be sure and leave contact information with them, I tried buying a car from a neighbor across the street from my wifes' parents house. The old boy knew who I was and his daughter and my wife grew up together and are to this day still friends. Took it for granted he would just cross the street and let my in-laws know to get a hold of me. Then one day he just hauled them away and told his daughter he didn't know how to get a hold of my wife. And a beautiful one owner 57 Ranchero (but dead) got hauled off to some wrecking yard, hopefully it didn't get crushed.

 

One more piece of info that might be beneficial is to find out before you approach them if they are the "restorer" type or the "Hot Rod" type. Some of these old guys hate to think of one of their gems being hot rodded even if it does mean a new lease on life.

 

All really good advice...everything I was gonna suggest.

Let the mutual friend arrange the meeting.

Show and verbalize respect/admiration for the owner's cars and efforts.

Make an attempt to alleviate any pressure on their part, by expressing your desire to buy, but assuring them that you fully understand if they don't want to. I would even say outright..."I'm not here to pressure you, and if you're good enough to sell to me or not, I wan't it to be an enjoyable experience for both of us." And mean it. This takes pressure off you as well as them. Resign yourself to the possiblility that a deal might not be able to be made...yet it can still be enjoyable for both parties.

I'm not so sure that I'd put off trying to strike a deal...you might lose out to the next guy. Have $ on hand, in case things go your way.

And of course, leaving your contact info if they aren't yet ready.

Good luck. You'll do great. Let us know how it goes.

 

Show up looking like this:

 

Take the friend with you, have him set it up... use the enticement that you're buying lunch and beer later.

Bob

 

Get hit by a car infront of their house like Marty McFly.

 

I agree, but I think if a potential seller knows (or suspects) that you are a flipper, then the negotiation becomes a contest about how much profit you are going to make.

If a potential seller knows (or believes) that you are buying it for personal use, then the negotiation dynamic changes.

I've seen things sell for less because the seller wanted the item to go to a good home. I've seen things sell for more because the seller wanted a greater share of the potential profit.

 

The first question I like to ask is what does the car need right now?

I cannot tell how many times when I ask that one question they start telling everything the car needs and what they would do if they were keeping their car.

Once I have that information I start talking how much they want for the car.

Jimbo

 

Just remember, if you do get to a point that you do make a buy and you told the guy that it was for your personal use and giving it a good home, but then "flip it" later and he finds out, since both these sources have many cars, your access to that source will most likely end.. so be honest, don't sweet talk him into believing anything just to get the buy, be honest right off the top...

 

a little OT but a strange experience with a seller, i was at a swapmeet and this guy i know was there selling, i go over and i'm talking to him about how its going, he tells me he has so much stuff in his basement he can;t move anymore, he has an old gas pump from the 70's he wants $30 for and some old tools, none of this i wanted, then i see this old bicycle from the 40's maybe that looked like i could of rode it home, i ask about it and he says $40, so i offer him $30, well you would of thought i slapped him in the face, he gets all upset and says he's not giveing the bike away and then says he doesnt want to sell the bike anymore and rolls it behind his truck, i say ok i'll give you $40, nope the bike is not for sale, so you never know how people you think you know will react.

 

Approach the other party with the mindset of only coming to look and enjoy the other parties cars. This is his collection, pride and joy. He wants to share and talk about each one. Quietly listen. The first visit should not begin the process of looking to buy. At least the inquiry to purchase is not a good idea. Enjoy the mutual interest. This will garner trust from the prospective seller. When trust is established, digging deeper is often easier and met with less resistance.

 

"Hello" and a hand shake. Get's 'em every time.

 

It's amazing to me how many people forget a simple handshake.

That really is a good way to get them talking about a particular vehicle... I like it.

 

I have run into this many times. I always introduce myself first,stick out my hand,and ask if the car/cars might be for sale. Respect their answer,wether it's a yes or no. Yes-take it further,inquiring about the car. If it's a no,wait a while and approach them again. Ask if you can leave your number with them,in case they change their mind. Good attitude and a smile goes a long way!
Sometimes a guy will weigh his options,maybe ask a friend and decide later that he's not gonna ever get around to doing anything with it.

 

Yep, this.

I'd add dress appropriately, and be respectful. Keep the swearing to a minimum, atleast till the other guy lets out the first F bomb.

 

A guy by me has a 54-56 Ford Pick-up sitting outside his house. I have left 20 cards on it asking him to call me about the truck. 15yrs go buy...I get gas in the morning by my house in my Merc,and he comes walking up and asks if I know anybody who would be interested in an old Ford Pick-up. Turns out,it's the guy with the truck i've been chasing. The truck looked like a great patina'd driver 15yrs ago. Now,it's full of holes,rust damage,etc for sitting out in the elements. Maybe worth grand now. Sad to watch it fall apart...
Funny thing is...he has a MINT one in his garage,but let this one go to hell.

 

This in the case of someone with mulitiple cars. I always find it respectful to give them atleast 5 or 10 minutes of your time atleast, just chatting and breaking the ice without even mentioning buying/selling. Then most of the time you can just slide in and ask "would you be interested in seeling anything?". That's the way it works down here in Mississippi anyway.

 

Speaking as an old fart that knows he is going to have to let go of some stuff pretty soon, I would add.... don't insult me. If you make a stupid offer, like 30 bucks for a bicycle that I'm asking 40 for, forget it, you aren't getting it at ANY price. There's a time to haggle, and a time to recognize that you shouldn't.
Among folks that I know in my age group, I see at least two different types... The old-time hagglers that will work for top $$, no matter what. (And, likely never part with most of their treasures.) For the ones that I know, it's a game, or a sport to them. And, there are those of us that are most interested in placing our treasures in the proper hands, even if the price is decidedly low. If I sense a 'flipper', there is no possible chance. Bring your credentials - show me what your current collection is. How long have you had it? In the case of cars or parts, show me something you've had for at least 30-40-50 years. No, then dis-qualified. And, who works on your stuff? That's a factor too. If you have a checkbook and credit cards, then you are likely not qualified. JMO
(I've got one car that I've had for 57 years, and another for 43 years. With respect to the 57-year car, I generally just say, 'sorry, I bought that new. How could I part with it?' That's usually the end of any possible 'sell' questions. And it usually leads to a 'history' discussion.)