On His Best Flip Ever, He Still Left $100k on the Table

If you talk to somebody who is ever dealt in used cars, but I don’t think that too many will tell you that they would benefit by having a car sit in their possession longer. Generally, the rule of thumb is that the quicker you can catch and release the vehicle, the more profit there is to be made. Most of the time, this is because cars will depreciate quite rapidly and hanging on to a vehicle for several years could be a death sentence for the eventual price that you’re able to ask for it. However, for this seller, things just so happened to work out adversely for him in about the most convoluted way possible.

To make the story is interesting as it can possibly be, the best deal of this seller’s life started off with him getting ripped off, or at least he would tell you a story that goes something like that. When our hero went to purchase a Ferrari, a couple of questions that he would ask the dealer about the car would have to do with the common faults of the vehicle, naturally so, which would lead him to buying it sight unseen if everything worked out. One of these questions that he would ask would be if the car smoked which would lead to signal that these cars commonly needed an entire engine overhaul when they’re billowing from the exhaust. However, the dealer would tell him that it doesn’t smoke in the least… Something that he would later attribute to being a pretty big lie.

After getting tied up in this car that needed a lot of work in maintenance, it probably looked like he was going to lose a little bit of money and there was nothing that he could do about it. To make things worse, the guy that he had been doing the repairs seem to be dragging his feet a little bit, not really doing too much in terms of progress. However, as time would slip by and the Ferrari would sit, it would eventually get repaired a couple of years later and at this point, it turned out to be that the market had completely flipped on its head and this car might actually be able to make the owner a nice profit.

When the car was finally sold, it would turn out that the flip would yield a profit that doubled the investment. That’s not too bad when you start to chalk up a vehicle like this to being one that would probably lose your money, however, this flipper found out that he would’ve maybe waited a little bit longer, he could’ve made even more! I guess that in a situation like this you can’t help but be grateful that things ended up panning out the way that they did but leaving $100k or more on the table is something that might sting a bit even though he still ended up going out with what was probably the second place prize in this contest.