Re: possible parts source, I may check it out..

Posted by LukeM on Nov 04, 2011; 5:58pm
URL: http://vintage-and-classic-hondas.81.s1.nabble.com/possible-parts-source-I-may-check-it-out-tp3472748p3480814.html

Here's what I've done on deals like this:

Get his asking price.
Check out the item. Do your best to assess its condition and if it needs fixing, mentally tally up the costs.
Subtract the repair costs from his asking price. Sometimes more, sometimes less, depending on how long it's been sitting and so forth.
You'll have a dollar amount in your head as to what you're willing to pay. Take the difference between his price and your price, and subtract that from your price.
Offer that.  The plan is to have him negotiate down to equal your price, if he doesn't take your first offer.

Another tack to try is "bundling".  Sometimes if you see other stuff that could go with the bike (tools, parts, accessories, helmet, jacket, luggage, etc), you could give him his asking price for the bike and get the other stuff for free.  The guys on Auction Hunters do this a lot, especially if the seller won't negotiate on what they REALLY want. Mix in some other stuff, and it dilutes the seller's pain. :-)

We did this technique when buying a new car, our latest house, and other items that had negotiable prices.

Remember, he may have to sell, but you don't have to buy.  Don't let the owner see that you've fallen in love with the bike.  Use your "Oh man, this bike is gonna need so much work, and so many new parts" face.

And, as the shiny ribs person states, Cash Is King. Just don't flash that much cash on the first meeting.

Luke M