Is the act of buying a car, performing a proper refurbishment or restoration then selling that vehicle for profit so that you can acquire another of higher value then what you bought the previous one for as another investment seen as repugnant or distasteful?
No.
Repugnant no. Likely, also no. Even if some one paid you to take the average collector car, if you do a proper anything to it you are going to be upside down.
There’s a guy on another site who routinely gets crap because he buys low and sells high. I think it’s hilarious.
What you are describing ( as “repugnant” or “distasteful” ) is the norm in the housing market. Just have a look at all the reality TV shows based on that premise - buying low, repossessed / abandoned homes that are fixed up and sold for a profit. Considering that cars are worth a lot less ( generally - collector / rare cars excepted ) and more easily acquired and sold than houses, it’s logical that they will be ‘flipped’ for monetary gain more frequently.
There are those who do swap cars around while adding value, fixing issues and making the car better than they found it. I would say that’s a service to the hobby.
I’ll admit to getting a little irritated when I see a dealer buy a car at an auction or on BaT and then immediately list it for sale at double the price without doing anything to add value. But I don’t think that’s what you’re talking about.
There are some people that are put off by others buying cars, parts and whatnot and selling them for a profit. I don’t ever see an issue with it. Especially if it’s done to help further a project or “trade up” for something more exotic.
I think it would only be bad when someone flips a car for a profit by doing only cosmetic upgrades and hiding or not disclosing the flaws.
Oh well, that’s your business and no one else.
Same here. If you’re going to double the price, at least put a little effort into making the car better than it was when you found it.
Maybe it’s just someone that’s an idiot upset that he can’t do what any decent capitalist would do. America is a success because of the creation of wealth. He must not be around anyone who owns a business. Hell I plan to do just that as my retirement job
I don’t see any issues with buying low and selling high with no effort. If you find a buyer at your selling price without doing any work, why is this a problem? Perhaps the previous seller priced it too low or had to move it quickly. No judgement from me.
I bought my 68 restomod a year ago on this site for $20k, not so much to flip but when I bought it I was sure that when it was time to sell I would be rewarded. I have $15k invested in time and parts with much further to go! The while you are at it things just keep adding up and so many things you have to do 2x! I replaced the noisy 3.50 open gears with a fresh 3.89 Tru-Trac and it is leaking right from the get go. Time to redo the entire process over again… Not sure where I went wrong. If I sell this in a year or two I will be lucky to break even.
If your plan is to buy your way up to more valuable vehicles by turning vehicles for a profit then you need to realize you’ll have a few winners, some you break even on and some big duds. Usually repairs run more than you expect and take more labor. Sometimes you just plain have bad luck. So you really need to buy right, watch your expenses and know the market for what you can sell it for. Repugnant-No. It’s the difference of getting ahead or losing a bunch of money. You want to gamble? Buy and sell used cars or equipment-some do well others go broke.
Sometimes you get lucky buying and selling. Gotta do it to pay for the cougars… it’s an expensive hobby!
Jim
It was a really nice well sorted truck… good enough that the buyer flew in and drove it home 1000 miles without a problem!
Ummm…I thought Explorers were SUV’s and not trucks.
Best way to make a big profit is to take an average Mustang and claim it is a Shelby.
Explorer used to be a trim or package, name, much like Lariat, King Ranch, Raptor, etc.
Midlife,
Explorer was a series of option packages on F series from the late 70’s til 1986… usually to dress up base or mid level trucks. Gave you a stripe, wheel covers, a better seat and interior trim, etc. they gave the badge a rest until 1991 when they rebodied the bronco 2 into fords most successful name and identity change ever!
That deal is helping to fund the restoration of my 71…
Jim
Here is some additional detail on the package. The Explorer nameplate first appeared on the F100 in 1968 as an economical option package for those who didn’t want to spring for the Ranger or XLT packages yet still wanted some decent options. The Explorer package was also available on the Bronco beginning in 1972.
There is nothing repugnant here. Many people buy, repair, sell and again buy cars.