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Advice on parting out a Formula? by formulaWA
Started on: 03-31-2018 12:25 AM
Replies: 17 (354 views)
Last post by: solotwo on 04-10-2018 09:51 PM
formulaWA
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Report this Post03-31-2018 12:25 AM Click Here to See the Profile for formulaWASend a Private Message to formulaWAEdit/Delete MessageReply w/QuoteDirect Link to This Post
Hi Folks

I have had a Formula up for sale for quite some time. We all love these cars but as we all know they are worth nothing. Best offer I have had is $4200. Given that quality 88 Fiero parts are scarce now a days and the car has 1800 original miles I am thinking it mite be worth more in parts? Thoughts?
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Report this Post03-31-2018 12:39 AM Click Here to See the Profile for RWDPLZClick Here to visit RWDPLZ's HomePageSend a Private Message to RWDPLZEdit/Delete MessageReply w/QuoteDirect Link to This Post
$4200 is pretty good. You'll have to sit on the car at least another 10 years if you were hoping to get TV auction prices.

The car will have a dozen parts people will want worth maybe $1500 for, and you'll be kicking yourself while you then try to scrap the rest when you could have gotten 3X that.
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viperine
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Report this Post03-31-2018 12:41 AM Click Here to See the Profile for viperineClick Here to Email viperineSend a Private Message to viperineEdit/Delete MessageReply w/QuoteDirect Link to This Post
Depends on parts availability in your area. Here, $4,200 would easily beat parting the car out. It's also nice to have a conservative mind. If someone offered you that much, it must be a decent car without much needed for repairs. With that in mind, parting out a solid car is more of a disservice to this community. My opinion, sure. But we shouldn't let greed contribute to the remaining population decline of good cars.
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formulaWA
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Report this Post03-31-2018 01:12 AM Click Here to See the Profile for formulaWASend a Private Message to formulaWAEdit/Delete MessageReply w/QuoteDirect Link to This Post
The car is essentially a new car. Original tires and new car smell. 1800 original miles. Same condition if it was in a dealers showroom 30 years ago. Even still has the parking brake instruction on the sun visor so the parts would be as new. Thats why I think the no longer avaible parts could be more valuable
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liv4God
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Report this Post03-31-2018 01:44 AM Click Here to See the Profile for liv4GodSend a Private Message to liv4GodEdit/Delete MessageReply w/QuoteDirect Link to This Post
Don't do it! While you may not get the price you want selling it whole, I doubt you will get more parting it out. Not to mention you will have to do a whole lot of work to get the parts off. Shipping is a drag and hinders selling many big or heavy parts. The most value on an 88 will come from the cradle and upgraded suspension. Very heavy! So it would have to sell locally unless the buyer is willing to pay a fortune on shipping. The car could be in your yard half torn apart for years before you get it all the way parted out. If the car was in bad shape, then yes you would get more by parting it. For example, I bought a rough, yet running Fieros for 1200 and got $1600 parting it out. Mostly body panels, interior pieces and tranny. Oh, and it had rare drop spindles on it, which garnered a lot. But yours, in almost new shape, not only a shame to part it out, but I doubt you will get more than 4k. I would expect it to sell in the 8k range as a whole car fairly easily. What did you list the price at? If you listed it really high a lot of people might just skip right over it. Also where did you list it? The more places the better
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Shho13
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Report this Post03-31-2018 01:46 AM Click Here to See the Profile for Shho13Click Here to Email Shho13Send a Private Message to Shho13Edit/Delete MessageReply w/QuoteDirect Link to This Post
Parting an 1800 mile Formula out would be a *sin*...

------------------
"Discord"
Red 1988 GT under restoration!

Let's Go Mets!

( ͡° ͜ʖ ͡°)

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PARAD0X
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Report this Post03-31-2018 03:18 AM Click Here to See the Profile for PARAD0XSend a Private Message to PARAD0XEdit/Delete MessageReply w/QuoteDirect Link to This Post
You’re missing the most valuable parts...fastback tail lights and sail panels. You won’t get more than $4k parting it out unfortunately. Where all did you try listing it? I’m betting you’d get more for it on eBay.
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cam-a-lot
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Report this Post03-31-2018 07:13 AM Click Here to See the Profile for cam-a-lotSend a Private Message to cam-a-lotEdit/Delete MessageReply w/QuoteDirect Link to This Post
Where is the link?

I know someone who may want it. In my opinion, it makes no sense to part out such a low mileage car- You may get $2500 in total for the parts, and have to put a bunch of free labor and effort into selling them individually

please send me the link and I may have someone interested.
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Raydar
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Report this Post03-31-2018 07:30 AM Click Here to See the Profile for RaydarClick Here to Email RaydarSend a Private Message to RaydarEdit/Delete MessageReply w/QuoteDirect Link to This Post
I see where you posted an ad here, in the mall.
I would try again, and post some pics. People aren't going to "nibble" nearly as much on an ad without pics. Especially if it's a relatively expensive car.

We're not cynical. Just experienced. No reflection on you.

If you can't post pics, email them to me. My address is at the top of this post.
I'll post them up when I can. (Probably won't be until late tonight. I'm going to be away from the 'puter.)

FWIW, I'm also one of those people who has way more into my car than I'll ever get out of it, should I ever decide to sell it. (See sig.)

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Raydar
88 Formula IMSA Fastback. 4.9, NVG T550

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css9450
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Report this Post03-31-2018 08:17 AM Click Here to See the Profile for css9450Click Here to Email css9450Send a Private Message to css9450Edit/Delete MessageReply w/QuoteDirect Link to This Post
Exactly. You might spend a year trying to sell enough parts to be rid of it, and it'll net you a few hundred to a thousand dollars and you'll still have 80% of it sitting there taking up space until you pay someone to haul it away for you.
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David Hambleton
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Report this Post03-31-2018 10:01 AM Click Here to See the Profile for David HambletonClick Here to Email David HambletonSend a Private Message to David HambletonEdit/Delete MessageReply w/QuoteDirect Link to This Post


I bought a show room condition 5,200 kilometer (3,231 mile) Formula (shown above) in 2008 for $10,000 Canadian dollars.
Found it on Kijiji, 3.5 hours away. No regrets; would do the same in retrospect.

Can you post a link to the ad in this thread?

[This message has been edited by David Hambleton (edited 03-31-2018).]

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olejoedad
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Report this Post03-31-2018 10:05 AM Click Here to See the Profile for olejoedadClick Here to Email olejoedadSend a Private Message to olejoedadEdit/Delete MessageReply w/QuoteDirect Link to This Post
Try listing on some of the better websites for older classic cars. A low mile Formula should have a market, perhaps here is not the place to try to sell it.

Hemmings
My Classic Garage
Old Ride
Collector Car World
Classic Cars

Good luck! Be patient! Preserve the past!
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formulaWA
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Report this Post03-31-2018 10:11 AM Click Here to See the Profile for formulaWASend a Private Message to formulaWAEdit/Delete MessageReply w/QuoteDirect Link to This Post
I have has it posted everywheres for long periods of time. While I don' nessecarily expect asking price I would hope get better than 25%Ie auto trder
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David Hambleton
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Report this Post03-31-2018 10:32 AM Click Here to See the Profile for David HambletonClick Here to Email David HambletonSend a Private Message to David HambletonEdit/Delete MessageReply w/QuoteDirect Link to This Post
Alas; it's an automatic. I found a yellow Formula similar to the one in my post above some years back that was an automatic. I cannot drive an automatic; that removes me from the market.
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olejoedad
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Report this Post03-31-2018 12:44 PM Click Here to See the Profile for olejoedadClick Here to Email olejoedadSend a Private Message to olejoedadEdit/Delete MessageReply w/QuoteDirect Link to This Post
That is a very nice car. We are coming up on prime time for it to sell. Be patient.
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liv4God
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Report this Post04-01-2018 02:18 AM Click Here to See the Profile for liv4GodSend a Private Message to liv4GodEdit/Delete MessageReply w/QuoteDirect Link to This Post
Photos are a large factor in online sales. You have some photos so good start, but you may be able to have a better add presence by improving the pictures.

Based on my time as a web and graphic marketing designer I have learned, been told or read some tips that could improve your overall add and marketing presence. No guarantee that it will make it sell, but could help for sure.
I would highly recommend take the car out to a scenic location, borrow a friend's dslr camera, or even hire a photographer to get some high quality shots. You want the people looking over the add to enjoy looking at the pictures and take time absorbing each, not just quickly scan through them. Have pictures that spark interest, make the viewer imagine themselves in the car. Generally you want to avoid people, cars and buildings in the background. Your car is beautiful, so let it show itself without background distractions. Look for creative and clever angles and vantage points that highlight unique features of the car. And pictures should always be right side up. Most people do not like to look at sideways or upside down pictures and will skip it quickly regardless of how well done the picture is.

Take a look at the pictures on Chevrolet's Corvette page: Corvette
Of course it will be super well done, they have a big budget for marketing, but you can get some good ideas for angles and locations from their shots.

On the other hand, check out this Craigslist add: Corvette on CL
Nice car and decent pictures, but does it get you as excited about a Corvette as the Chevrolet pics?

Some really good pictures can take your add from being "Cool nice Fiero" to "Wow, that's the Fiero I need!"
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formulaWA
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Report this Post04-01-2018 09:49 AM Click Here to See the Profile for formulaWASend a Private Message to formulaWAEdit/Delete MessageReply w/QuoteDirect Link to This Post
Thanks for taking the time to post that helpful advice
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solotwo
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Report this Post04-10-2018 09:51 PM Click Here to See the Profile for solotwoSend a Private Message to solotwoEdit/Delete MessageReply w/QuoteDirect Link to This Post
Nice car!
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