Went to a farm sale Saturday about 10 miles from my house. Older guy died and my wife knew the family so she wanted to go. They had a couple of cars on the auction. One was a 67 Firebird (serious project status) an 84 Fiero, a 74 Camaro and a 68 Mustang. The Stang had 54K miles, numbers matching, 289 auto. Off white interior was nice, cream paint was decent for a 20 footer but it needed a restoration. It had factory air and ran well. It had been hit 20 years ago or so and repaired. Second owner. He bought it with 30K.
I really didn't want one, but my wife said we should try to buy it. Surprised me as she isn't a car person and she is always telling me that we have to sell one of the seven cars that we have now. Well, I told her that I would go to $7500. I hadn't researched them at all as I wasn't even planning on bidding.
The Firebird sold first for $3K. Not bad, but it needed lots of help. Guy bought it while talking to the buyer on the phone.
When the Mustang came up, I had it forever at $7000. Finally another bid so I got it back at $7200. Sat there forever with the acutioneer saying it's worth $10K, classic, blah, blah, blah. I am thinking "say it is sold!". Well, phone guy was back and threw in a bid of $7300. I figured I was beat so dropped out. It sold for $7300. I talked to him later and he said the phone buyer said to take one hack at it and if I came back, let me have it.
I could have got it for $7400 which was under my budget but I was already second guessing figuring he would pay more and let it go.
Upon doing some investigation that night, I saw that I was really going to be in good shape on the car at $7,400. Oh, well...serves me right for not running it to my predetermined level but I started second guessing maybe my "guesstimate" was high as there was not much interest.