#730235
Fri May 31 2019 05:14 AM
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It seems to me there are a lot of people who have gotten and are getting into the sign and pump market that think they are going to get rich buying and selling pumps & Petroliana signs. The problem I think is they have no idea what they are doing. They buy a sign or pump at auction either on line or in person and just bid until they own it. Then they just mark it up and try to sell it?? No matter what the price? They post it on Craig's List or Facebook with no idea of the market values. I see more with signs than pumps, I guess because pumps are harder to move, etc. I had a Wayne 276 (boat anchor in my opinion) that was fair to not great condition that I HAD to take with some other pumps. A guy offered to buy it from me for $500. SOLD! He took it to a swap meet here in Wisconsin. The first day he was asking $1500 Two days later $800 The last day he sold it for $500! I saw it on Craigs list the next week for $1500. Then a few weeks later $1000, then $800, then $600, then $500! Then it went away. It seems like everyday someone asks "how much is this worth?" AFTER they buy it! Too many people watching fake shows like Pickers? Or seeing inflated prices on Ebay etc.? Just my opinion......
Last edited by Old Racer; Fri May 31 2019 05:31 AM.
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Please - NO offers to Buy or Sell in this forum category
Statements such as, "I'm thinking about selling this." are considered an offer to sell.
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Joined: Oct 2003
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Every auction I go to everyone bidding thinks they’re American pickers!!
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John, I agree 110%. It's as if they think we run our sites to do this service for free? We sell a lot of pumps and our profit margin is very small, compared to what it was 20 years ago, before the TV shows made everyone an expert. Even with restorations, in the end, I'm probably working for $5.00 an hour?? It keeps me from chasing women and out of bars!!! LOL! I get calls everyday from folks wanting values on pumps....that they are trying to purchase....looking for what they can resell for? Usually, they try to explain what the unit looks like, over the phone? Once I tell them that I'd need pictures to just understand what they are asking....they can't understand why? A guy called yesterday. He asked me about a "Sunoco" pump that I had apparently restored for one of his friends? The owner is ill, not doing well, as stated by the caller. This "friend" wants to buy it from him. He explained that he was friends with the owner but was looking to get a deal? He asked what it was worth....again, he referred to my web site where I was supposed to stop what I was doing, and observe the sold pump, in the pictures?? Thereby, I could give him an accurate value? I told him to use my prices on the available pumps as his reference and be fair. He said that he wasn't planning on paying retail, if he could get it at a better price? If this is how a "friends" treat "friends" then why should we consider that they would not try to use us? Just my opinion as well. Paul www.severngaspumps.com
Last edited by gasmansgp; Fri May 31 2019 07:14 AM.
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Paul you were paying yourself $5 an hour? I think I better give myself a raise. People ask me all the time how many hours it takes to restore a pump. I tell them if I kept track of the hours I wouldn't do this. 🙃
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Joined: Nov 2001
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They post it on Craig's List or Facebook with no idea of the market values.
The same happens on OldGas from time to time also.
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That is the way it is today people looking for a quick buck with NO work involved
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Joined: Mar 2006
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Paul you were paying yourself $5 an hour? I think I better give myself a raise. People ask me all the time how many hours it takes to restore a pump. I tell them if I kept track of the hours I wouldn't do this. 🙃 John, You might have read too much into my statement? I never get paid....the company does....but the $5.00 dollar an hour labor fee is probably what I'm worth!!! LOL! In my case, I use this as therapy? Paul
Last edited by gasmansgp; Fri May 31 2019 04:16 PM.
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Joined: Dec 2003
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Petro Enthusiast
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Petro Enthusiast
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huskybob hit it pretty good. Go to the for sale section of this site and look at how much an item has dropped in price in just a few days. There must have been visions of big profits when the item was first offered. Some by as much as 50%. All those reading this that are in a hurry to sell something for less than what you paid for it-- raise your hand.
ROD [Mich.]
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Joined: Dec 2004
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Petro Enthusiast
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Petro Enthusiast
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If your not in this hobby because it is a hobby, and your first objective is to make a ton of money, than you most likely are going to be surprised. I think the sign market is out of control and fear that a number of dealers are going to find that they got in when they should have gotten out.
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Joined: Aug 2015
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Tom Hutchison
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Joined: Aug 2015
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I collect, I never sell, This is my hobby for the past 50 years, The pickers ruined our hobby.
Tom Hutchison
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Joined: May 2005
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It's not just this hobby,as I collect other items too that are not Oil & Gas related. Seems there's an abundance of clueless "Carpet Baggers" in every hobby. They're here for a good time,not a long time.
Collecting Vintage Sunoco
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Joined: Apr 2003
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I collect, I never sell, This is my hobby for the past 50 years, The pickers ruined our hobby.
Wanted early tin litho signage. petro, farm, auto, etc.
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Joined: Apr 2003
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So exactly how did pickers ruin the hobby for you?
I take it you were never a picker. So you would have bought at auctions or swap meets. Who is the guy selling at the swap meet that your buying all your stuff from for 50 years, maybe a picker. Sure would be a slow hobby if we had no pickers and we all collected for 50 years never selling anything. If your making money at picking these days your working hard at it. If your not making money, well I guess you won’t be a picker long simple as that. I was picking collecting 45 years ago but couldn’t afford to keep it all, I guess you could, so I had to sell some to go buy more. Sooner or later it all goes down the road, either before we go 6 feet under or after.
Wanted early tin litho signage. petro, farm, auto, etc.
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