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#109884 Sun Jan 28 2007 06:09 AM
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I may have stumbled on a great find, but its too early to be sure. A friend told me about a man who owned an oil company back in the 50's and he supposedly has a garage full of pumps, signs, oil cans etc. The man is wintering in Fl, so I cant look at anything until he gets back in the Spring.
My question: Depending on the amount/value of the items, I am considering making him an offer for all of it, or just buy what I like and can afford and offer to sell the rest for him for a comission. I am wondering what would be a fair commission for doing this. I would do the following:
1. Inventory the items and take a digital pic.
2. Research the fair market value.
3. Write the ads for the items and handle the sale on here, ebay, etc.
4. Handle the financial transaction. Collect the payment, arrange for shipping.
Anyone have any thoughts on any of this? Amount of my fee? The type of paperwork I might be getting into (tax forms?), pitfalls that I might not be aware of?
Thanks, dont know if this will ever happen, but it might be something that works out so I am considering my options.
John


Wanted: Original Jenney Gas, Husky, Marathon, and Frontier Globes
#109885 Sun Jan 28 2007 08:50 AM
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Two ways to look at it but it all depends on if he wants to sell.

If he droped it all at an ebay store they would charge between 20-30% for the volume you are talking.

If he commissioned an auction company he would pay 15% plus shipping to the auction company and a portion of the advertising, around 25-30%

Just my .02

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Scott Wright-
http://www.frontrangegas.com/powerine.htm


Scott Wright
#109886 Sun Jan 28 2007 11:35 AM
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Vermonter...we are charging 10% to our consignors and are doing all of the leg-work & marketing. We are also charging a 10% buyer's premium. I would say around 15%-20% plus ALL expenses would be fair.

That aside...do yourself a favor and try to buy it ALL. I don't care if you have to take a 2nd mortgage. There are many of us that can tell you horror stories about these "partnerships". It will be much easier to navigate if you just own all the stuff.

#109887 Sun Jan 28 2007 03:10 PM
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Listen to Seth, The only way to do this is to buy it all. Take everything from the ceilings to floor and wall to wall. Once you get it home, you'll have time to figure out what you,ve got. By taking it all and moving it out in a timely manner......the current owner should consider a more conservative sale price......since he is not dealing with lot's of people over a long time. He also won't have second thoughts if the deal is not long term. As always, just me talking. Paul

#109888 Sun Jan 28 2007 03:34 PM
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Hi John- if you cant buy most or all- walk away- but stay in touch- try to find out in conversation if he has kids with any interest- if he does they -if not he- will have internet knowledge-good luck

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[b] Wanted 5 quart cans -old speed equipment -1950-60s- Cad- Olds std shift parts - site at www.oilnspeed.com
#109889 Sun Jan 28 2007 04:13 PM
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Maybe its just me, but if he lives in Vermont and is wintering in Florida. He don't need the money! Slow down a bit.... enjoy the look see if you get it then let us know.


A shark looks like a shark! JMTC


In memory of DB 9/12/49 - 8/28/14
#109890 Sun Jan 28 2007 06:49 PM
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Don't get gready. If you don't think he will sell it all at a reasonable price start working on the pieces you want and tell him you have friends that collect and can sell some of the other items for good money but keep enough for your ebay fees and so on.

I get first dibs on shakers!!! LOL

good luck!!!

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Looking for anything from Hoosier Pete, Platolene 500 and Red Bird.
#109891 Sun Jan 28 2007 09:35 PM
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My friend does consignment in his hobby store. He takes 20% of the sale. The 20% covers his time to price, present, inventory, record keep and any credit card fees on the sale. About 90% of his consignment works well for him and the consignee. Then you have the other 10%....the royal pain in the rear consignees.

I would before I make any offers even for myself, look and catalog what you see, should you be able to make a visit. While visiting chit chat about him, his family, what he desires to get out of the collection, etc. In other words feel him out. Once you have a handle on the person and the collection then decide whether to pick up pieces for yourself and your personal collection or buy the entire lot for re-sale.

My guess is that if enough green is waved under his nose, he will at least consider the sale. A lot depends upon his personal attachment to the items. Some folks even though they are not doing a thing with the stuff just can't bring themselves to sell, due to emotional attachement.

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Jim

[This message has been edited by Jim_Becker68 (edited 01-28-2007).]


Jim
#109892 Tue Jan 30 2007 02:13 PM
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Thanks guys,
My preference would be to buy it all and not have a "partner" I have to answer to...that makes sense, and I have always been my own boss so to speak. If I make a mistake, I just have to answer to me ( and her)
I certainly dont have the experiece or knowledge to just look around and make him an offer. To be fair to him, and to be sure I can make a profit, I think I will write down what I find there and go home and work all night if I have to in order to get him an offer the next day.
St rod, from what my friend told me, this guy doesnt need the money. As Jim said, he might have an emotional attachment to the stuff which will make a sale difficult. Only one way to find out I guess.
Ill keep you guys posted. If Im successful, first dibs on stuff goes to the members here.
John


Wanted: Original Jenney Gas, Husky, Marathon, and Frontier Globes
#109893 Tue Jan 30 2007 02:32 PM
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My Two-Cents.....

I have done a variety of things. If you are looking to buy and sell, be honest with the guy and say you have to make money on the deal too. You can't buy it for $1.00 and sell it for a $1.00. Some people have a hard time understanding that.

If you are buying pieces for your collection, offer more but try to get a "volume" purchase.

Or, if you can get a good deal on some nice pieces, offer to sell the rest for him and give him 100%. Tell him it may take time and that you will give him an itemized statement once a month.

Good luck. If you find any nice Texaco...shoot an email.


Alex
Looking for Texaco and Power Gasoline items
#109894 Tue Jan 30 2007 02:44 PM
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Alex,
Not exactly sure what I am looking to do. I came on the site for advice on restoring a pump and now find myself looking at collecting globes and maybe buying and selling. Its kind of snowballed. Then a friend told me about this collection, so who knows what I may get into. I am disabled and havent worked in 3 yrs, so if I could make some money while doing something interesting, that would be great.
Ill let you know if I find any Texaco stuff, but I wont get in there till March.
John


Wanted: Original Jenney Gas, Husky, Marathon, and Frontier Globes
#109895 Tue Jan 30 2007 03:31 PM
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I came on the site for advice on restoring a pump and now find myself looking at collecting globes and maybe buying and selling. Its kind of snowballed. Then a friend told me about this collection, so who knows.

John: I would be willing to bet that is the same for most of us here. I started collecting Texaco diecast, then thought a pump plate would look cool with the display, then it was a globe. Well, if you have a pump plate and a globe, you need a pump. Now i have 8 pumps and a garage full of signs and a display of globes and a display case of small Texaco items. Most of us are in need of an oil and gas 12 step program.

Look at the collection hard, if you want to make a $$$, figure out what it is worth and then offer him a fair wholesale price. If you just want a few pieces, that is cool too. I often find that some people don't want you to cherry pick. All or nothing. but, it gives you a bargaining position. I fell into a bulk plant and I was able to get 99% of it. The one sign that got away he wouldn't sell for anything. Sentimental value. But, we worked out a price that was fair for him and made his life easier becasue I cleaned him out and that was worth something to him. I also found a buyer for one of his banjo signs and pole and charged him nothing for it. I apreciated his fairness and he appreciated mine.

On the other hand, you mentioned you were disabled, and not knowing your personal situation (none of my business) don't do anything that is going to take food out of your family's mouth. And make sure the items are quality to sell. Keep us posted and good luck.


Alex
Looking for Texaco and Power Gasoline items
#109896 Tue Jan 30 2007 08:25 PM
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Hey Alex,
Yes I see a theme here about guys getting hooked on this stuff. It is interesting to me that people find something and pursue it with such vigor. Im blown away by the knowledge people have here. Im also blown away that an old can of oil can sell for $1000!
I will meet the guy and feel him out, see what he wants do do and be flexible if it seems worth pursuing. No doubt Ill be here asking for advice.
Thankfully, I do have some savings and some time on my hands. So, If I do this right, I hope to have fun and make some money in the process. If Im enjoying it, as long as I dont lose any, Ill be ok. Thats why Im asking a lot of questions!
John


Wanted: Original Jenney Gas, Husky, Marathon, and Frontier Globes
#109897 Tue Jan 30 2007 08:56 PM
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The can doesn't even have to be in GOOD shape, Just rare & graphic.
db


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