Car Dealer's Biggest Winners & Losers: 7500 Cars Sold

Decades in the Car Business

• 🚗 The speaker has been in the auto business for 40 years, buying and selling approximately 7,400 to 7,700 cars.
• 📈 In his prime, he sold 300-500 cars per year, but now focuses on classics, hot rods, muscle cars, and exotics, selling around 100-150 annually.

A Major Winner: 1967 Oldsmobile 442

• 💎 A 1967 Oldsmobile 442 factory tri-power four-speed car was purchased for $20,000 from a woman whose husband had passed away.
• 💰 The car, believed to be a rare W30 model, was bought without full certainty of its originality but with potential value.
• 🚀 After a restoration and being consigned to Barrett Jackson Las Vegas in 2011, the car sold for $95,000, netting nearly $75,000 profit.

Biggest All-Time Hit: 1955 Mercedes 300 SC Coupe

• 🌟 In 2008, a 1955 Mercedes 300 SC coupe with a beautiful restoration and extensive documentation was purchased for $253,000 (including fees).
• 📈 The car was listed for $499,000, and after a week, a buyer from South America offered $458,500.
• 💰 This sale resulted in a profit of approximately $200,000, making it the biggest hit in the speaker's career.

Biggest Loser: 1957 Chevy Resto-Mod

• 💥 A highly restored 1957 Chevy resto-mod was purchased for $55,000-$60,000 during a rising market for such vehicles.
• 📉 At an auction, the car failed to sell at its reserve and eventually sold for $28,500, resulting in a loss of approximately $25,000 after factoring in expenses.
• ⏳ Six years later, a similar car sold for $105,000, highlighting the impact of market timing.

Lessons from the Car Business

• 📊 The car business involves significant ups and downs, with profitable years and challenging ones.
• ✅ Success relies on doing the right thing, treating customers well, and buying and selling cars strategically.
• 💡 The speaker emphasizes that the car business is hard work and many underestimate the effort and risk involved.