Am I wrong?
Printed From: Unofficial Allis
Category: Other Topics
Forum Name: Shops, Barns, Varmints, and Trucks
Forum Description: anything you want to talk about except politics
URL: https://www.allischalmers.com/forum/forum_posts.asp?TID=173293
Printed Date: 17 May 2024 at 4:48pm
Software Version: Web Wiz Forums 11.10 - http://www.webwizforums.com
Topic: Am I wrong?
Posted By: thendrix
Subject: Am I wrong?
Date Posted: 03 Aug 2020 at 8:43am
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My father in law has a Cat 977L that he bought a whale of a deal in. He gave $4500 for it because the man thought it needed a lift pump and was tied of messing with it. Truth was it was out of fuel. Fast forward 6 months. Their old neighbor wants to buy it to build a lake. The loader as it sits is probably worth $25k to $30k. He priced it to the neighbor for $11k and says he went low because the neighbor knows what he gave for it. I personally don't see what he gave for it or the neighbor knowing has to do with anything. Especially this neighbor. He treats EVERYTHING like a business. Not exactly the kind of neighbor I want but that's another story. Anyway, does the neighbor knowing my father in law got a deal dictate that the neighbor also gets a deal? The way I see it the loader is worth what it's worth regardless of what he gave for it. Had he over payed the neighbor wouldn't give him more so why should it work the other way? Just curious how others see a situation like this. ------------- "Farming is a business that makes a Las Vegas craps table look like a regular paycheck" Ronald Reagan |
Replies:
Posted By: jaybmiller
Date Posted: 03 Aug 2020 at 8:53am
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I get 'upset' over deals like this. This old neighbour ISN'T the original owner who sold it for 4500 , just a 3rd party ?? Either way WHY should ANY buyer get a smokin hot deal ?? $25K at for 11K ? I'm surprised he didn't offer $5k... so your FIL could make 'a quick 500 bux' !! Your FIL had the brains and knowlege to make a great deal, HE should profit from that NOT another buyer... dang I paid $200 for a 6by10 dump trailer, everyone knows( great story).... am I supposed to sell it for $250 ?? when they go for $2500 any day of the week up here ??? I fixed an early PC computer once, when the going rate was $100/hr. Took me under 2 minutes to fix, should I have charged 75 cents ? or the $100 ?? Jay ------------- 3 D-14s,A-C forklift, B-112 Kubota BX23S lil' TOOT( The Other Orange Tractor) Never burn your bridges, unless you can walk on water |
Posted By: ac fleet
Date Posted: 03 Aug 2020 at 9:00am
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YUP!---Don't matter what I gave---it's what I want.-- that is the deal and take it or leave it! ------------- http://machinebuildersnetwork.com/ |
Posted By: steve(ill)
Date Posted: 03 Aug 2020 at 9:22am
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What if neighbor uses the machine for 6 months, then SELLS for $22K ?? Does he SPLIT the profit with you ?.... Screw him. ------------- Like them all, but love the "B"s. |
Posted By: DMiller
Date Posted: 03 Aug 2020 at 9:26am
| Sells for what market will bear or if you want can give it away. New Neighbor has no room to ask for lowball figure because you bought it right. Running Operating in decent condition is Market Price. |
Posted By: Ray54
Date Posted: 03 Aug 2020 at 11:43am
 Well at least he is saying he wants to buy it,not just borrow it. You are right it should not be different but it kind of will be. But you do have to live next to the neighbor love him or hate him.Just looked at Machine trader and they have a 977L listed as low as 11,000.
But I did not look to see if it ran. |
Posted By: Hubert (Ga)engine7
Date Posted: 03 Aug 2020 at 12:15pm
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If he doesn't want to pay the going market price let him go buy one somewhere else. Just because your FIL got it at a great deal doesn't mean he has to sell it at a low ball price. ------------- Just an old country boy saved by the grace of God. |
Posted By: plummerscarin
Date Posted: 03 Aug 2020 at 12:33pm
| A friend of mine once told me he would never buy my Torino from me cuz he knew how much I paid for it. What he doesn’t know is how much much I’ve put in it. Your FIL bought a non- running machine. Now it is a working machine and he should sell at a price he believes is appropriate. Neighbor can go elsewhere if he doesn’t like it. |
Posted By: thendrix
Date Posted: 03 Aug 2020 at 1:35pm
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That's been my thought on the whole thing. This is the neighbor I've talked about before when we were running the old farm. He was always a PITA about something. My mother in law wants to break it off in him. He bought the old farm to build a new wedding venue. He gave them 6 months to get moved but had absolutely no problem with basically destroying everything but the house while they were still there. He had in the contract that construction would start as soon as the deal was final. Within a month of the deal being final 2 chicken houses were gone and he was pressuring them to get stuff moved out of the other buildings. I don't know. I know when the deal was done it belonged to him but I would think he'd have a little respect and not start destroying everything they'd spent 30 years working for while they were there. ------------- "Farming is a business that makes a Las Vegas craps table look like a regular paycheck" Ronald Reagan |
Posted By: desertjoe
Date Posted: 03 Aug 2020 at 2:35pm
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Hey Tyler,,,those kinds of people just tear me up to no end,,!! First of all it is not any of their business what kind of money was paid for anything,,,cause thay prolly ain't got no idea how much labor went into gettin the equipment in running order. But Here is the clincher,,"It don't matter how much time I spent on your equipment,,it's the fact that I KNEW how to repair it,, that is costing you" The actual VALUE of anything is what that dude should have to pay because "The Actual Value" is what he is going to sell it for at a later date,,,!!! I'm in your cownor,,,,,
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Posted By: steve(ill)
Date Posted: 03 Aug 2020 at 2:46pm
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I agree on the dozer, but see the house as a different story.. He BOUGHT the ground and gave them 6 months to live there ? Told them he would start demo / construction as soon as sold ... They had to expect him to get with it and start demo of the old buildings.. I think anyone would have done that... Giving them 6 months to slowly leave the HOUSE sounds like he was working with them, from my point of view. ------------- Like them all, but love the "B"s. |
Posted By: Thad in AR.
Date Posted: 03 Aug 2020 at 6:24pm
| Tyler your father-in-law had to gamble on his ability and pocket book. He didn’t buy a running cat. This guy is trying to buy a running operating cat. Big difference |
Posted By: DaveKamp
Date Posted: 03 Aug 2020 at 10:37pm
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Easy solution- sell it for whatever you like, but make the sale bound by a 'right of first refusal' at the sale price + any receipts of maintenance, when neighbor decides he's done with it. That means... if you sell it to him for $500, and two years later, he's done with it, and he's got $400 in receipts for repair/maintenance, then you get the first option to buy it back for $500+400=$900. If you decide to refuse, he sells it for whatever HE wants.... ------------- Ten Amendments, Ten Commandments, and one Golden Rule solve most every problem. Citrus hand-cleaner with Pumice does the rest. |
Posted By: Scott B
Date Posted: 03 Aug 2020 at 11:00pm
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Guarantee the only reason he decided to build his lake and "buy the machine" is because he's trying to capitalize on your FIL's good fortune. Had your FIL's paid $20 or $25k for it he probably wouldn't be too hurried, at that price, to hand over the cash and start building the lake. Betchya he's even telling your FIL "Hey, your more than doubling your investment"......well, if you'd bought Apple back in the 1980's would you be willing to sell today at the price it doubled at from your initial investment? Heck No! If it were me and I was ready to sell the machine, I'd tell him I'm going to put it on the market (craigslist, etc) at the fair value and the neighbor can buy at that price. ------------- D17 Series 1 Allis B- 1939 Allis B- 1945 |
Posted By: JohnColo
Date Posted: 03 Aug 2020 at 11:05pm
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I had a situation somewhat like that. A friend of mine was quitting farming after his dad passed away. Told me it just wasn't as much fun anymore. They had a lot of collectable tractors plus some newer ones. I really wanted the 8030 with only 2750 hours on it. Since it was an auction, I needed to pay the going price it was going for, $18,000, not too outrageous but high enough for a 30 year old tractor. The thing is, seven years earlier, they paid $3,200 for it at a dealer going out of business sale. I wanted the tractor and paid the price it brought. |
Posted By: shameless dude
Date Posted: 04 Aug 2020 at 12:01am
| yep...what they say above. bought it broke, fixed it, fixes costed money, and think if he had to/wanted to replace it. up that $11,000. price. |
Posted By: SteveM C/IL
Date Posted: 04 Aug 2020 at 5:06pm
| Nice guys finish last....FIL too nice....it's his to sell for whatever he wants....has NOTHING to do with what he paid for it or what it took to make it usuable....no ones business cept his. |
Posted By: desertjoe
Date Posted: 05 Aug 2020 at 8:30am
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As some know,,I have been very fortunate in cobbing on to some great deals lately and most generally, I do not tell people what I give for whatever. Some time ago, I cobbed onto a rider mower for a song, put bout 2 hours work and $15 in it and got it running and parked it out front and this dude comes by wanting to give me $50 for the mower. I told him he was full of it as the machine was worth a min of $250,!! He tells me my neighbor told him what I had in it so,,,,,,,I got so mad,,I told him to get back in his grubby, old , UGLY trk and never come on my property again!!!!!The friggin nerve of that AH,,,,,
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Posted By: DMiller
Date Posted: 05 Aug 2020 at 11:40am
| Our Labor is still worth money, someone decided NOT to invest the time is none of their business as to how much worth if we do. |
Posted By: Coke-in-MN
Date Posted: 05 Aug 2020 at 12:56pm
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Reminds me of story of the machine that went down . Service guy comes out looks it over , takes out hammer and hits a electric valve that's stuck - everything works Charger $150 for call - owner is furious - asked for itemized bill - Service call $50 , knowledge of knowing where to hit the right thing with hammer $100 ------------- Faith isn't a jump in the dark. It is a walk in the light. Faith is not guessing; it is knowing something. "Challenges are what make life interesting; overcoming them is what makes life meaningful." |
Posted By: Rusty Allis
Date Posted: 05 Aug 2020 at 2:04pm
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sell it for market value... no way would I leave that much meat on the bone. your FIL got super lucky, no need to share that. and if you think the buyer will come back with 20k when he sells it (because he will sell it) and split it with you then you have a better outlook on humanity than I do |
Posted By: steve(ill)
Date Posted: 05 Aug 2020 at 4:03pm
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YEP... DONT BET on the future.... Get your money UP FRONT... If he wants it for market price OK... IF not,... WALK ! ------------- Like them all, but love the "B"s. |
Posted By: SteveM C/IL
Date Posted: 06 Aug 2020 at 8:27am
| Let's go back to the beginning....why would he sell off a great toy which cost very little. Too handy to have around even if only used occasionally. |
Posted By: thendrix
Date Posted: 06 Aug 2020 at 1:04pm
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Steve must know him . He told me this morning he talked to the neighbor and told him he's not interested in selling it right now. Said there's some to many little jobs around here for it ------------- "Farming is a business that makes a Las Vegas craps table look like a regular paycheck" Ronald Reagan |
Posted By: tadams(OH)
Date Posted: 06 Aug 2020 at 1:57pm
| That solved that problem |
Posted By: DMiller
Date Posted: 06 Aug 2020 at 2:25pm
| Easy. |
Posted By: DiyDave
Date Posted: 06 Aug 2020 at 5:13pm
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While he's still got it, educate him on the value of it... ------------- Source: Babylon Bee. Sponsored by BRAWNDO, its got what you need! |
Posted By: thendrix
Date Posted: 06 Aug 2020 at 7:54pm
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I tried Dave. If he could hear me he still wouldn't listen. I'm his son in law until I start to argue with him. At that point I become that little bastard that married his daughter ------------- "Farming is a business that makes a Las Vegas craps table look like a regular paycheck" Ronald Reagan |
Posted By: Red Bank
Date Posted: 06 Aug 2020 at 9:18pm
that cracked me up yes I understand that!
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thendrix wrote:Posted By: desertjoe
Date Posted: 07 Aug 2020 at 9:05am
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TYLER,,,I done figured it out for you,,,,,!!! Why'nt YOU offer him $50 over what he has in it and,,,,and,,,then YOU can put it up for sale at the appraised value,,,"First Come First Served" ,,,,,YEA,,!!!  (I dont really expect any cut of your obscene profit),,but if you insist,,,I'll PM you my addy,,,,,,
Problem solved,,,,, |
Posted By: desertjoe
Date Posted: 07 Aug 2020 at 9:07am
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I tried Dave. If he could hear me he still wouldn't listen. I'm his
son in law until I start to argue with him. At that point I become that
little bastard that married his daughter I'm gonna save this one for sure,,,,!!!
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Posted By: thendrix
Date Posted: 07 Aug 2020 at 2:27pm
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That one was one of my uncle Bunk's favorite quotes. He liked to use it in front of his son in law. Somebody would say "Bunk is that your son in law?" He'd say "nope! This is that little bastard that married my daughter" or "this is that dumb sumbitch my daughter married" ------------- "Farming is a business that makes a Las Vegas craps table look like a regular paycheck" Ronald Reagan |
Posted By: desertjoe
Date Posted: 08 Aug 2020 at 8:25am
TOOooo Funny,,Tyler,,,but,,I'd bet some dollars that if somebody even looked like they might want to hurt him,,your Uncle would of been on them like stink on chit,,,!!!! When I first met my not yet Wife, her family was livin in Los Angeles and a few months later we eloped to New Mexico and dang was my FIL one mad sumbeech at both of us,,!! He called me all the cuss words he could think of and prolly some that hadn't even been used yet,! 5 months later she got preggers and she called her Mommy to tell her and HE got on the phone and told the wife he was gonna take the baby away from us as soon as we went back to LA,,!!! On our first visit back to LA,,we dang near got into a fist fight cause he INSISTED that we move back to LA and even took us to A big furniture store and HE started to pick out a house full of furniture for us,,!! I told him all that chit would NOT fit in the car we had,,
We hauled azz back to NM at 3Am next day,,,THEN he was really mad,,!! Years later they moved back to Nort Dakota,,and our first visit up there,,,he took me to every bar in a 50 mile radius and bragged bout what a Great SIL I was and would fight anybody that said any different,,,,,,who knew??? |