Wheeler dealers come clean. How is it done?

[bull]

We all know these guys (like Travis); the guys who can not only find all the Mopars in fields, barns and back yards but actually have a knack for sweet-talking the nut case owners out of them for pennies on the dollar when the 50 potential buyers before them have failed. So what's the secret? Is it just dumb-luck or is there a fool-proof formula? Most of us have gotten lucky a few times - a grille here, a radiator there, but these guys make $10k/year on Mopar purchases by accident. Yes, I'm jealous but I am also curious if this talent it something that can be learned or are you born with it?

[69bronzeT5]

I think it's got a lot to do with being at the right place at the right time. My Duster sat in a driveway for about 1 year and 1/2. My dad went buy and talked to the owner and he said he would sell it for $1,200. We ended up getting it for $650. I later found out on For A Bodies Only that a few guys had gone by over that time trying to buy it but the owner wouldn't sell at that point.

[694spdRT]

If I had that knack, which I don't seem to have, I wouldn't be telling.  

I think it is mainly cold hard cash, good timing, and not having to go home and ask the wife first. I lost 3 complete '68 Chargers(1 R/T) for $3k about 5 years ago from that last item on the list.  

Plus, you need to have the means and time to go get them....truck, trailers, etc.

[68X426]

Bull, it's just you that can't score.

I couldn't pass up the cheap shot. Just joking. Swear to god, just joking.

I think it's luck. The definition of luck being the intersection where preparation meets opportunity. Yet no matter how well prepared, the opportunity is still influnced by randomness. A certain car, a certain day, a certain mood, and the seller finally sells.

I appreciate your honesty, I am jealous too when I actually see what some friend's have scored. I don't think it can be learned, at least not by me.

[bakerhillpins]

I think it is mainly cold hard cash, good timing, and not having to go home and ask the wife first. I lost 3 complete '68 Chargers(1 R/T) for $3k about 5 years ago from that last item on the list.  

Plus, you need to have the means and time to go get them....truck, trailers, etc.

I'm thinking you are correct. Having the cash in had to put under someone's nose is a great way to wake a seller up. I am trying to figure out a way to have my funds on hand at Carlisle without feeling funny about carrying $$$ in my pocket. Anytime you leave and come back give them more time to think about it and say no.

I recall reading about Paul (pocketThunder) going with cash to LA to buy his 69. Don't know if I could wander around LA with a bag of cash in my hands... 

[Old Moparz]

It depends on how much time you invest in your search, how persistent you are, & how good you are at inventing a sob story & acting it out in front of the seller.   

Like others said, timing helps too.

[Troy]

Treat it as a business - not a "hobby".

Timing, timing, timing. Relentlessly search and follow up on every lead - even if it sounds like a pile of trash. Become "that guy with all the Mopars" who everyone knows and they'll feed you even more leads. Have cash of course. Concentrate on quick turnover and don't get too greedy when you sell. Those are probably the basics.

It helps immensely to be good/excellent at talking to and dealing with people. Not to be harsh, but you also can't get personally involved in the buyer/seller (ie if I guy is selling because he lost his job, contracted cancer, and got a divorce you still lowball).

Probably most importantly, don't buy anything with the intention of restoring it or "fixing it up". Sell those projects to some other fool and buy a finished car. I would be one of those other fools of course.

Watch any of the popular shows on TV right now and you'll see some good examples (Pawn Stars, American Pickers, etc.). Some of what I see turns my stomach but those guys all know what they need to pay the bills and stay in business. You see "hoarders" who have saved stuff for many, many years who don't make a dime but the business guys claim to be excited and "really want this piece" only to stick it back up for sale 10 minutes later. If the business guy kept everything rare/unique they'd be as broke as the hoarders.

Troy

[bull]

I think there is a bit of dumb luck to it too. I know of a guy who runs across cool stuff all the time and basically just buys much of it because he wants it, not necessarily because he thinks he can make money on it. Of course the stuff he likes is popular and he always makes money on the resale but he doesn't seem to care if he makes money or not. I think a lot of it is fearlessness too. I ponder too long about how I will make my money back and while I'm thinking about it some other guy just buys it and worries about that stuff later.

[451-74Charger]

It was timing and determination for me, Saw the car for sale, waited, waited and finally went back 2 months later and scored it for a fraction of the original price.
I was so lucky

[bakerhillpins]

Another re-occurring remark here is time... you need to have lots of time to be able to spend working all the parts of the process.

[41husk]

Even though I don't like to think of it as business. it is.  I bought a 73 Charger Rallye sight unseen (big mistake)  When it arrived the rust free just meant all the rust was free.  I tried to sell it at Monster Mopar for less than I had in it.  When it did not sell, I decided to build the  Wanna Bee. and maybee it's just me, but the Wanna Bee is way cool I think the Wanna Bee is worth A lot more than I paid for It, but it's not worth Nearly what I have put into it.  As a business it was a flop. As a car guy it was a great car saved .  Dollars can't be the final issue if your a car guy.  Don't get me wrong I have made money on cars and parts, but it is the love of the cars that make me a Mopar guy, not the bottom line.

[NHCharger]

Yeah, persistence and having the time to chase leads, many of which are dead ends. And you usually only hear about the "scores". If you search the board you will find a thread where a member got taken for $7,500. on a "score", most people won't admit it when they screw up.
I have a buddy that surfs C/L for an hour every morning. He said you find all the deals from the night before and early morning between 8-9 AM.
Again, having the cash and transportation on hand. How many stories have you heard " I found a mint 70 RR 6pac for 2k, went home to get the cash, came back and it was gone".

[Darkman]

That's exactly what happened with my Charger....except I (my agent) was the guy with the cash. The other guy missed out because he saw it, then sat on it for a couple of days. He's probably  at the moment