Herman School of Business
Got Any Old Chevy's?
Over the years one of my passions has been cars. When my daughters went to sleep at night it wasn’t to stories from children’s books…because they scared me to death. Side note: can anyone tell me why seeing witches, fire-breathing dragons, and watching animals die in Disney films is good for kids?
OK, back to the Old Chevy. The kids always liked hearing stories about real life. And the life I knew best was my own. So each night we would pick a topic and night-after-night Dad would tell a true story about a list of things from my real life. For about a month we did a story every night about a different job I had. Another month was easily handled by the houses or apartments where I had lived. My favorite collection of stories was about the cars I had bought and sold over the years. Like the time I drove my Dad’s ’57 Chevy off the curb and tore the duel exhaust system right from the car. My Father heard me coming a mile away and as his anger built up he formed a plan. When I finally hit the driveway he was waiting for me and simply said…”Thanks…now we can get rid of this thing.” We drove it to a used car dealership back in 1967 and traded it in on a 1963 Green VW Bug. Oh, yeah, we got $75.00 for the pristine ’57 Chevy with no exhaust system.
But that’s not the Old Chevy we are focused on today.
Keeping up my love of old cars…when success came I would occasionally buy an old car to spoil myself a little. I used my kids as the excuse for the good thing I was selfishly doing by choosing a vehicle that would eventually be for one of them. Hence; eleven years ago after one particularly good deal, I bought a 1973 Caprice Classic Convertible in excellent condition. Sweet ride. I called it a Land Yacht because it was longer than anything on the road today…in fact, garages built today would not be long enough for this car if you actually wanted to walk in front of or behind it. My selfish excuse for the purchase? Kelly’s birth came in 1973 and this would be her’s one day and that was enough to encourage me to buy it.
Eleven years and as my wife said yesterday…maybe eleven rides. At least that is how many times she sat in it. For me it was quite a bit more. I love this big boat of a car. Someone had given this car the most beautiful paint job and it still looks gorgeous today. But as I move ahead in life I also understand that the Old Chevy requires attention each Spring and Fall for the maintenance and care of it. And so I approached my daughter Kelly and said…“It’s time for the Old Chevy to live at your house, so you and Jimmy can take care of it.”
Kelly sort of shocked me. “Why don’t you sell it and give us the cash instead.” Now this was a surprise, but one I came to understand and respect. As the mother of two small boys she saw the Old Chevy as something her family wouldn’t enjoy. It would consume her garage, pushing toys and storage shelves aside. It would require time and money to just stare at it once in a while. And, it would not get the boys to Disneyland in as much comfort as the money would. I admired her candor and put the car up for sale.
I live on a “country road” that wanders through small houses on large lots, established before builders started cramming large houses on small lots. Sunday morning I washed the car and parked it on the side yard with the top down. A small sign showing the price and my telephone number was standing next to the car. There would be no ads placed. No Hemmings Motor News needed here. In less than one hour it was sold. Unbelieveable.
I expected that the warm sunny day Sunday driver’s would stop and look. I knew a few would linger and wonder about the past and how much they wished they could drive this behemoth. I didn’t expect every person driving by to make an offer. Three people wanted it within two hours. Monday morning came and so did three more buyers. It wasn’t even on the side lawn anymore and people were still coming. One guy brought the magical fairy dust it took to get the car…CASH. It was all his, with final delivery of the car next week when he surprises his wife with this gift. (It’s Mother’s Day this week and I wonder if Maggie wants a new old car?)
One guy offered to start bidding against the buyer and begged us to re-open the bidding. He knows my brother-in-law and he even played that card as Doug called to ask if there was anything I could do to get his buddy the car.
Kelly will be thrilled when she reads this. Her cash is coming. My wife is thrilled that one of the eight cars and trucks out back will be going down by one. The businessman in me wishes I had a few more Old Chevy’s because the buyers are everywhere and I have nothing left to sell them.
- Posted: 6 May 2008
- Comments: 0
- Category: Selling a business
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