Make Offer or Call = delusional pricing.

[stratobee]

It's funny. They must think I walked in straight from the cotton fields with big shiny plane syndrome and stars in my eyes. And a huge wad of cash. It happened again. But since this isn't my first rodeo, I thought to myself "well, at least it couldn't be more than that", so I thought I'd drop them an email, just to check. Boy was I wrong - they wanted $200K more than what I could imagine in my wildest dreams.

Nah, I'm done. Everyone is free to set whatever price they want, fine, but for me personally, I'm never calling on a plane that has Make Offer or Call on them ever again. Waste of everyones time as the one at the other end is guaranteed to be delusional.

 

[AdamZ]

Yeah I really don't understand that mentality. Just say what your asking.

 

[DJTorrente]

There's only one reason not to name a price -- they are ashamed of it. Sometimes because they think its too low, but usually because they know its too high.

 

[JoseCuervo]

On those, I just send an email "would you consider $xx,xxx?"


They say yes or no, sometimes a number they would consider.

Doesn't take a lot of time, and starts them understanding reality.


Side note, I flew into an airport last month where a plane I offered on last March is still for sale. My offer was rejected as too low, by $2k, and, the plane was "under contract" at the higher price.

The plane still sits for sale, and the "under contract" BS was just that..

 

[Ted]

What airplane? I thought you liked your Aerostar.

 

[stratobee]

Sometimes they do advertise price and are still delusional. Or how about this C150 from 1967, 2800 SMOH, last annual 1997 for $14.5K? This is at my home airport.

 

[frfly172]

I made an offer on an aircraft ,that I believed was fair,went so far asto contract for work to be done to get it where I wanted it. The broker wouldn't even present the offer. Seven months later the airplane sold for 4k less than I offered,and the seller had put in another 5k in improvements. Go figure.

 

[stratobee]

What airplane? I thought you liked your Aerostar.

I love it. But I also know with new engines, this would be the best time to sell it if I ever wanted to step up.

 

[docmirror]

I love it. But I also know with new engines, this would be the best time to sell it if I ever wanted to step up.

Oh? Now you've piqued my interest.

I notice a lot of up-market planes like King Air and the like don't post prices. Jets I rarely see prices. Must be the snooty thing to do.

 

[bnt83]

Sometimes they do advertise price and are still delusional. Or how about this C150 from 1967, 2800 SMOH, last annual 1997 for $14.5K? This is at my home airport.

Reminds me of Craigslist ads where they are asking the for the value of the remaining loan when they have been making tiny payments for 4 years.

 

[Palmpilot]

Oh? Now you've piqued my interest.

I notice a lot of up-market planes like King Air and the like don't post prices. Jets I rarely see prices. Must be the snooty thing to do.

"If you have to ask the price, you can't afford it."

 

[docmirror]

"If you have to ask the price, you can't afford it."

One of my favorite quotes from the SoCal real estate market around Hollywood, Agent:"Good and bad news Jerry! Good news - I can get you the house for 3.5 million. Bad news is you are gonna need $25,000 down payment." Speaks volumes about the way things work in LaLa land.

 

[stratobee]

One of my favorite quotes from the SoCal real estate market around Hollywood, Agent:"Good and bad news Jerry! Good news - I can get you the house for 3.5 million. Bad news is you are gonna need $25,000 down payment." Speaks volumes about the way things work in LaLa land.

I wish that was the case! I'm looking to buy now and unless you have regular income, they want 30% down. The days of stated income mortgages are long gone.

 

[docmirror]

I wish that was the case! I'm looking to buy now and unless you have regular income, they want 30% down. The days of stated income mortgages are long gone.

Yeah, I got a few properties to sell in SoCal and getting a qualified buyer is a tough job. Banks have really tightened up. I hear the head of the fed can't get refi money! heheheee...

 

[rbridges]

I really don't like the ads without prices. True, it doesn't take much effort to call and ask, but it also doesn't take much effort to list a price. I hate wasting time when someone has an unrealistic price in mind. Honestly, why would you not list the price? Hoping that your slick description gets someone to pay more?

 

[stratobee]

I think they think that once they get you on the phone, they can convince you by saying look at all these upgrades, and look at how well she's been kept after, I wax her every month, etc, etc.

 

[DJTorrente]

I really don't like the ads without prices. True, it doesn't take much effort to call and ask, but it also doesn't take much effort to list a price. I hate wasting time when someone has an unrealistic price in mind. Honestly, why would you not list the price? Hoping that your slick description gets someone to pay more?

If we believe that people act in their perceived best interest, we have to conclude that sellers (or their brokers) have obviously decided that they prefer the calls they get (meaning number of calls, and type of prospective buyer) asking for price where none is listed at the cost of the calls they lose from buyers who don't bother calling such ads. I can't say its too outlandish a theory.

I read an interesting theory about those Nigerian e-mail scams. Yes the offers they make are laughably implausible -- to most people. However it serves the scammers purpose by filtering out people who are not likely to believe them anyway. The only responses they get are from people sufficiently gullible to be profitable in the scam. The 'fat' part of the bell curve doesn't even bother.

So aircraft sellers/brokers who only have ice to offer in the winter list their wares without a price. They never get called by serious buyers, and that's just fine by them because they can't get their price from a serious buyer anyway.

 

[Jeff Oslick]

Sometimes they do advertise price and are still delusional. Or how about this C150 from 1967, 2800 SMOH, last annual 1997 for $14.5K? This is at my home airport.

Hey, it only needs a new engine and new paint!

That one needs to be donated to an A&P school; worth more as a tax write-off...

 

[ClimbnSink]

Copy the ads for the overpriced cream puffs then call in 6 months when the ad is gone and low ball the nutz off em. Won't work every time but is easy enough to do til it works.

 

[bnt83]

Hey, it only needs a new engine and new paint!

That one needs to be donated to an A&P school; worth more as a tax write-off...

 

[Hank S]

Im house hunting right now. Some reactors have full page ads and no prices. So I don't call them. There have always been plenty of whatever I'm looking to buy with prices shown that I don't have to make any calls asking for the price. Stupid is as stupid does.

 

[Pedals2Paddles]

My theory is this.
1. Not in a rush, since it automatically filters out people who will just skip over it. AND:

2. Hoping someone calls and offers more than they have in mind to begin with.

3. Hoping that you can talk a big game about how wonderful it is, artificially increasing it's perceived value, then reveal the artificially high high price.

In other words, mind games.

 

[ColoPilot]

Im house hunting right now. Some reactors have full page ads and no prices. .

You're house hunting for a nuclear reactor? I would think that is a limited market.

Sorry couldn't resist -- that's a funny auto-correct for realtor.

 

[Henning]

Oh? Now you've piqued my interest.

I notice a lot of up-market planes like King Air and the like don't post prices. Jets I rarely see prices. Must be the snooty thing to do.

Nope, it's about not letting your competitors see your price and undercutting you. It's completely retarded logic since they can just call you and ask.

 

[rbridges]

You're house hunting for a nuclear reactor? I would think that is a limited market.

Sorry couldn't resist -- that's a funny auto-correct for realtor.

he's moving to Alabama. Probably don't have running water, definitely not electricity to most homes. Need to find one with its own reactor.

 

[Hank S]

he's moving to Alabama. Probably don't have running water, definitely not electricity to most homes. Need to find one with its own reactor.

No thanks! I opted to not study nuclear engineering here as a student, I'm not about to take it up on my own just cause I'm moving back to town.

 

[docmirror]

Nope, it's about not letting your competitors see your price and undercutting you. It's completely retarded logic since they can just call you and ask.

Potayto - potahto. I"m going with snooty.

 

[flyingron]

We ran into people like that when looking for our Navion. The guy's non-negotiable price was nowhere near realistic. I suspect it's a "Honey, you got to sell the airplane" and then "Well I've got it listed in trade a plane, but nobody is buying it."

Of course, I've found similar things in real estate. Yeah, just because you're mortgage is higher than the property is worth doesn't mean that you're ever going to get your asking price. We've been unable to get people to budge down towards market with an all-cash, free of contingency sale.

 

[airdale]

Yeah I really don't understand that mentality.

In my experience (buying & selling millions in used capital equipment over many years) this scenario is more due to naivete than to any kind of strategy or analysis. There are even people out there who claim to be "brokers" who don't have a clue about how to price or how to negotiate.

Usually the best tactic when you have an incompetent seller is to just forget about the deal, though as some have recommended it sometimes works to come back after the seller's initial dreams have turned to ashes. Dealing with incompetent sellers is always risky, though.

 

[flyingron]

Usually the best tactic when you have an incompetent seller is to just forget about the deal, though as some have recommended it sometimes works to come back after the seller's initial dreams have turned to ashes. Dealing with incompetent sellers is always risky, though.

Yep, did that on the condo I just bought. We made an offer (just below market) and the seller didn't even counter. They got another offer above market (but still way less than they were asking) and they turned that down. Finally, we made another offer just slightly above where we though market was and they finally relented and took it.

They'd have come out ahead if they'd have countered us initially or just accepted the intervening offer.

 

[ahkahn]

Yep, my policy is that "call for price"="move on to the next plane"

Dealers take note. I don't want to waste my time. You're making it harder for me and I'll move onto the guy that at least gives me a starting point to work with.

 

[Hank S]

Yep, my policy is that "call for price"="move on to the next plane"

Dealers take note. I don't want to waste my time. You're making it harder for me and I'll move onto the guy that at least gives me a starting point to work with.

"Call for price" means move on to the next whatever-I'm-shopping-for, plane, car, house, headset, shirt, pocketknife . . .

 

[BG305]

Some people just think what they have is worth more than it really is. I looked at a plane that was on the market for 3yrs and the owner would not budge. His plane was worth what he was asking in his mind even though it was all original 79. I found a 1980 that had been completely redone around 2005 for 5k more and bought it. I now have a panel that looks like this instead of a 79.

 

[Ted]

I love it. But I also know with new engines, this would be the best time to sell it if I ever wanted to step up.

What're you thinking about upgrading to?

 

[James331]

Shy of it being EXACTLY what I'm looking for I just move to the next ad.

 

[Zeldman]

Usually when I call for pricing, "that plane just sold but I have several more close to what you might be looking for."

 

[Twin_Flyer]

I called a broker once and asked for the price of the plane. His response "Well, how much would you give me for it?" Game on and I wasn't playing, my time is worth more to me than that...

 

[Palmpilot]

I called a broker once and asked for the price of the plane. His response "Well, how much would you give me for it?" Game on and I wasn't playing, my time is worth more to me than that...

My answer would be, "I wouldn't know until I see it, and it's not worth coming out to look at it without knowing what price range the seller is expecting to get."

 

[LoneAspen]

What're you thinking about upgrading to?

I'm curious as well.

 

[stratobee]

Maybe a Turbo Commander. I love my Aerostar, but I've always wanted a turbine Commander. It's the perfect airplane for me as it can do almost anything. It's a bush plane and a fast cabin tourer all in one. And coming from a piston Commander before the Aerostar, I know a lot about the type.

Will see, might not happen. My offer and sellers price are pretty wide apart.