acat2002
Well-Known Member
Hey folks,
It's been a while since I've posted, but I still visit all the time since I've sold my '73 CSA.
What can I say, but this group is great even for us outkasts and lurkers! Since being dormant, I've been saving my words and will now spend my annual quota of characters as follows:
Anyway, I've got a bit of an issue I'd like to share and ask the advise of some of our more 'even-keeled' members. Technically, this is not E9 related so if DanG or whoever wants to move this thread, I guess I'd understand. However it has to do with the relationship between mechanics and customers (which has everything to do with E9s). If you'd like, just insert "CSL" in place of "X".
The story goes like this:
I'm interested in a vintage "X" car and its out of state. Logically, I network with some people and reach out to the requisite "X" car forums for some referals for shops that can perform a proper PPI. Find one, talk at length with the guy to see if he knows his stuff and he does. Agree to pay $90/hr for his time and have the "X" car shipped to him so he can look at it leisurely and not rushed with the owner looking over his shoulder. I told him to spend no more than 2-3 hours but was specific in what I wanted him to look for (correct chassis numbers, rust, the usual). I wanted him to report only to me as is customary with most PPI arrangements.
Meanwhile I'm negotiating with the owner who is leaving the country and needs to sell. Before the PPI even occurs I do enough due diligence to figure out that this poor owner got soaked when he purchased it five years ago. Typical story, shady fluff-n-buff dealer put lipstick on a pig etc. etc. Seller understands that "X" is worth much less than what he paid for it for a variety of reasons, but rather than insult him I was going to wait for the formal PPI so there was an independent 3rd party's report. Seller is a cool guy to deal with. He's realistic, honest and genuinely wants to sell.
So a few days go by and i have not seen a report or been emailed any pictures with the PPI, so I call the "shop" and speak to the owner/mechanic who spends a good deal of time telling me why I shouldn't buy this "X" car. We actually chatted for a good 30 minutes, which I was surprise he wanted to invest that much time explaining something to me that would be in report form anyway. So as it turns out, the "X" car was mechanically pretty sound and remarkably rust free. The problems surrounded it's grey-market European origins and its lack of paperwork - that's it. Otherwise it's a great find. Of course if it's a non-legit import its a really nice paperweight!
I call the owner and offer him 25% of his original asking price under the premise of extreme caution and risk. He reluctantly accepts because he's leaving the country next month and we've struck up somewhat of a rapport. Great.
Well here is where things get dicey. Seller/owner calls the PPI mechanic to have some personal effects mailed to him that are still in the car and THEY end up chatting. I wasn't privy to the conversation, but the net result was the Seller sheepishly called me back saying the deal was off the table because the PPI mechanic was willing to pay more. He supposedly was going to dismantle the car for parts, yeilding more value and taking any risk of liability away from the seller (magic words right?).
Sorry, I should have cautioned you to take a seat or pull of scotch before I mentioned that bit!
Can you believe it? Actually nothing surprises me in the car world these days especially when people have become more and more desparate to turn a profit in this miserable economy. I still have not figured out how I plan to address the PPI shop, but we all know that it takes a lifetime to build a reputation and minutes to destroy it!
Truthfully, though I was excited about the deal, the risks were very real and maybe this is a blessing in disguise. I refuse to become emotional about business deals. However, the lesson here (that I feel I should share with this group - because the topic of PPI comes up frequently) is when you enter into a "service contract" with a PPI shop or individual, memorialize it in writing! What if this had been a barnfind CSL that I had negotiated at $0.50 on the dollar?, or anything that was REALLY important to me? No, this wasn't the most important thing to me, but I did have many hours tied up in due dilligence, establishing a rapport with seller and negotiating.
...and for those that cast some blame on the seller.....here is a guy already taking a bath and needs the money. I don't fault him if somebody waived a premium in his face (I didn't give him a deposit because I figured it was a done deal). At a minimum, the PPI guy should have told me he'd be interested, right?
Anyway, let me know what you think of this situation and above all be careful out there!
It's been a while since I've posted, but I still visit all the time since I've sold my '73 CSA.
What can I say, but this group is great even for us outkasts and lurkers! Since being dormant, I've been saving my words and will now spend my annual quota of characters as follows:
Anyway, I've got a bit of an issue I'd like to share and ask the advise of some of our more 'even-keeled' members. Technically, this is not E9 related so if DanG or whoever wants to move this thread, I guess I'd understand. However it has to do with the relationship between mechanics and customers (which has everything to do with E9s). If you'd like, just insert "CSL" in place of "X".
The story goes like this:
I'm interested in a vintage "X" car and its out of state. Logically, I network with some people and reach out to the requisite "X" car forums for some referals for shops that can perform a proper PPI. Find one, talk at length with the guy to see if he knows his stuff and he does. Agree to pay $90/hr for his time and have the "X" car shipped to him so he can look at it leisurely and not rushed with the owner looking over his shoulder. I told him to spend no more than 2-3 hours but was specific in what I wanted him to look for (correct chassis numbers, rust, the usual). I wanted him to report only to me as is customary with most PPI arrangements.
Meanwhile I'm negotiating with the owner who is leaving the country and needs to sell. Before the PPI even occurs I do enough due diligence to figure out that this poor owner got soaked when he purchased it five years ago. Typical story, shady fluff-n-buff dealer put lipstick on a pig etc. etc. Seller understands that "X" is worth much less than what he paid for it for a variety of reasons, but rather than insult him I was going to wait for the formal PPI so there was an independent 3rd party's report. Seller is a cool guy to deal with. He's realistic, honest and genuinely wants to sell.
So a few days go by and i have not seen a report or been emailed any pictures with the PPI, so I call the "shop" and speak to the owner/mechanic who spends a good deal of time telling me why I shouldn't buy this "X" car. We actually chatted for a good 30 minutes, which I was surprise he wanted to invest that much time explaining something to me that would be in report form anyway. So as it turns out, the "X" car was mechanically pretty sound and remarkably rust free. The problems surrounded it's grey-market European origins and its lack of paperwork - that's it. Otherwise it's a great find. Of course if it's a non-legit import its a really nice paperweight!
I call the owner and offer him 25% of his original asking price under the premise of extreme caution and risk. He reluctantly accepts because he's leaving the country next month and we've struck up somewhat of a rapport. Great.
Well here is where things get dicey. Seller/owner calls the PPI mechanic to have some personal effects mailed to him that are still in the car and THEY end up chatting. I wasn't privy to the conversation, but the net result was the Seller sheepishly called me back saying the deal was off the table because the PPI mechanic was willing to pay more. He supposedly was going to dismantle the car for parts, yeilding more value and taking any risk of liability away from the seller (magic words right?).
Sorry, I should have cautioned you to take a seat or pull of scotch before I mentioned that bit!
Can you believe it? Actually nothing surprises me in the car world these days especially when people have become more and more desparate to turn a profit in this miserable economy. I still have not figured out how I plan to address the PPI shop, but we all know that it takes a lifetime to build a reputation and minutes to destroy it!
Truthfully, though I was excited about the deal, the risks were very real and maybe this is a blessing in disguise. I refuse to become emotional about business deals. However, the lesson here (that I feel I should share with this group - because the topic of PPI comes up frequently) is when you enter into a "service contract" with a PPI shop or individual, memorialize it in writing! What if this had been a barnfind CSL that I had negotiated at $0.50 on the dollar?, or anything that was REALLY important to me? No, this wasn't the most important thing to me, but I did have many hours tied up in due dilligence, establishing a rapport with seller and negotiating.
...and for those that cast some blame on the seller.....here is a guy already taking a bath and needs the money. I don't fault him if somebody waived a premium in his face (I didn't give him a deposit because I figured it was a done deal). At a minimum, the PPI guy should have told me he'd be interested, right?
Anyway, let me know what you think of this situation and above all be careful out there!
