Fmv trade recoup or prorate

The guy was liquidating these, put six of them up at the same time. A few with $600 buy it now with options to buy more than one and a few as auctions with $100 starting bids.

Before the auction ended, I asked him if I could have two at the price of the winning bid but he did not answer in time.

After the end of the auction he said yes and would combine the shipping.  I paid through paypal credit card processing but not through a paypal account (dont have one). Or maybe through google pay.

Historyof the purchase remains but only shows 1 and the DM exchange has timed out and is no longer available.

The man was a fool for flooding the market. These harneses new sold for $899. Cutting the harness down from a stock one and refurbishing them runs $500 to start.

I had planned to recoup $100 from this or use it in a trade. Or maybe prorate the one I keep down to 0 or 50. Whatever made the most sence at tbe end.

Without the proof of the DMs, I may be boned. Still trying to go through old bank statements to find the transaction.

Im also trying to email them through their Facebook page.

Fun fact. Painless never offered these retail, they were built specifically for lonestar performance in texas.

So, I was not clear that I was looking for oppinions and ideas on how to handle this situation. If it even qualifies as a parts lot if I can prove I bought them together.

Maybe if I trade it off I just count it as a $100 item in the budget for what I trade it for? Or establish a fair market value and use that value for the value of the trade?

Or if I am just out of luck on this one.

I have a few other parts without recepits but partial digital records of the transactions including.

Rockers, Turbo headers, intercooler. Stock manifolds. Probably a couple other things.

I suck at keeping recepits and have no idea where they went after the last time I sold parts.

Maybe start a New thread with all items in question and all digital mesage information I have for each item to help in the FMV evaluation?

Or a seperate thread for each item?

In reply to Crazier :

I'm not sure I understand. You won the harness at $100, but then bought a 2nd one for the same price. Correct? If so the 2nd harness is irrelevant to your Challenge car, unless you're going to splice parts of each harness together for your car & sell off whatever is leftover. 

In reply to Pete Gossett (Forum Supporter) :

The auction was for 1, minimum bid was $100. I bid on it, and sent him an offer through the offer system that I would like to buy more as a lot.

He did not respond in time, but when he did respond he said he didn't have anymore. Then the next day he sent me anouther mesage that he did have one without a box or instructions and that if I wanted them both he would sell them together for $223 shipped. 

If he had responded in time... The ebay record would have reflected that.

If I had known that ebay erased the digital mails Id have gotten pics of them sooner.

I have a potential trade for a part that I really want for my build and the harness is a big part of that trade.

I think I understand things better now and I could include the second harness as a $110 purchase in my budget and then trade it. But I only have the screenshot of buying the one.

I have asked my bank to help me locate the teansaction/s and I still have both harnesses.

Found the bank transactions. One to lonestar through paypal and one to google pay and then a second screenshot from google pay showing the second payment to lonestar. 

Think that covers me?

What email address do you have associated with eBay? I'm guessing you've already searched back through for a copy of the message sent, but just in case you haven't.. try that. I think the only thing missing here is some sort of proof that the second purchase was dependant on the first, which would establish them as a "lot", letting you recoup as you intend to.

That said, you know if it really went down that way. I, and I think most others, would rather see you build and bring something cool, so don't let this stop you either way.

Not sure wtf happened with my formatting. This board is extra quirky on a phone sometimes.

In reply to bluej (Forum Supporter) :

The struggle is real. All I use anymore is a phone as well.

That was a good call on the email. I did not find the first couple of exchanges. I apperently did not have the box clicked.

I did find one mail indicating that I bought two, so im good if I decide to trade it. Not sure it makes clear that it was a "lot" so maybe I cant recoup if I dont trade. But thank you, that was brilliant.

This harness is "unobtainium" and that's why I didnt sell it even when times were bad. Best offer was $450 and I just couldn't do it.

But I think I have a super bonus trade lined up. Only time will tell.

In reply to Crazier :

So, you bought an extra one at a good price, and you want to sell it to make a profit to credit to your Challenge budget?

No, it doesn't work that way. 

In reply to SVreX (Forum Supporter) :

Yes. That was my original plan.  Buy them as a lot and sell the second one to recoup the $200.

Didn't work. He did not respond in time. If it had been a face to face transaction it wouldn't be an issue. Challenge math can be challenging

But my current intent is to use it on a trade for a set of heads. I was unsure if that would fly because I had no proof of what I paid for the second set.

So instead of getting a $200 recoup on a $200 purchase I can probably get  a trade for an item id have never fit in the budget any other way from a $100 purchase and I will have to find my recoup elsewhere.

Fortunately my parts car is loaded with things I cant use.

In reply to Crazier :

I'm not understanding your goal. It is always better in the budget to never spend the money in the first place. And you can't ever recoup more money for a part than you paid for it. 

If you paid $100 for your parts car, the most you can recoup in your budget is $100, regardless of how much you sell  

It sounds like you are just trying to zero out your recoup budget with no gain to the Challenge car. That doesn't make sense. 

You can trade the $113 harness for heads in the budget at $113.  Because they were separate transactions you're not recouping anything from anywhere, nor do you use recoup  with trades anyway unless you have cash coming back your way.  If he gives you the heads plus $50 yes you get some recoup.  
 

The biggest thing i have seen is that people need to be serious about documenting everything.  The receipt for my mustang is on best western notepad paper from the challenge hotel.  Get it in writing, screenshot the conversation/auction/listing/receipt.  When I explained the challenge to the guy i got last year's wheels from he went in and printed out his CL ad and signed it.  Even if you buy something you think isn't challenge fodder document it, because you may need it or trade it at some point.

Remember these sentences from the rules:

You may not factor gains or losses made from buying, selling or trading unrelated parts into your budget.

If you buy a part for $40, decide it won’t work, then resell that part for $50, you may not recoup $10. Leave this unrelated transaction out of your budget sheet entirely.

I realy did not understand the recoup rules well originally. I think I have it now.

I paid $1000 for my parts car. I have recouped $350 so far. If I sell $650 or $6500 more parts from it I hit my recoup limit for the budget.

If I  had no more parts to sell and had not hit my recoup limit,  then bought two parts together and sold one for more than I paid I could recoupe it up to either the limit or to the price I had paid for the two parts OR I could prorate them (not applicable in this situation regardless)

Because I will be able to get close to my recoup limit on the parts car, it is now more beneficial to make trades instead of buying or selling.

I needed bigger injectors. I traded the transmision for a set of 80# so now I have a set of nearly new 60# i could sell them, but that could run me out of recoup.

I am looking at a set of heads. The guy wants $1500 for them. I have offered him my heads that are home ported with ZzP internals, my extra harness and my 60# injectors in trade (heads $500, harness $500, injectors $200) but I couldn't find my recepit for the second harness. 

Now having found the recepit he also wants $300 cash. So it would be a $400 budget hit. $100 for the price of the harness and $300 (cant happen that way because I dont have $300 spare room unless I give up something else)

So now im trying to find something else that I already have to sweeten the deal. That means reducing my potential recoup that i am counting on but have not sold most of it yet because I want to use it in the most beneficial way.

And when I try to think about all this all at once I get confused, chase my tail and end up not making any sense!

Add to that, the parts car im now using was not for this project. Under the old build I was struggling to recoupe enough so buying parts in a lot in order to sell some for recoupe was pivital, it isnt any longer but my brain seems to be stuck on it.

Add to that... My friends don't get challenge math AT ALL and I ussually work through issues like this by bouncing it off people... And that leaves me here bothering you fine people.

Having found proof of the purchase the FMV question is off the table. When I bought it the FMV was $113 because he had flooded the market. But I was worried that I had to count it as FMV in todays market since I didnt have proof.

The parts lot question was answered, since the auction ended before the deal was struck and I paid twice instead of once it dosen't count as a lot. Though that is a technicality that would not exsist in a face to face transaction.

The trade question has been answered. If I include it in the trade it is a $109 budget hit.

Sorry I did not ask these questions more clearly in the first place, my brain was all tangled.

Buying 2 things together... If you pay $200 for 2 widgets but only need 1, you put the one in your budget for $100. Ignore the other- you didn't use it. You don't have to recoup anything. 
 

Trading... Trading is trading. It doesn't matter what the dollar value of the trade is. If you purchased the car with a thingamabob on it, then the thingamabob has been paid for and is in your budget. You can trade the thingamabob to anyone for a whatsit with no charge to your budget or your recoup. The whatsit is not an additional cost (or savings) at all. It was paid for when you bought the car with a thingamabob. 

However, if you take a hoogiedinger off your garage shelf (that was not part of the  car purchase) and trade it for the whatsit, then you need to add the FMV if the hoogiedinger to your budget before you trade it for the whatsit.

"Buying 2 things together... If you pay $200 for 2 widgets but only need 1, you put the one in your budget for $100. Ignore the other- you didn't use it. You don't have to recoup anything."

Unless I still need a $100 nicknack and have nothing left in the budget but have not reouped all the allowed recoupment.

Then (assuming they were bought as a lot) I could sell one of the two widgets to recoup $200. Adding $100 to my budget but freeing up $200 leaving me with $100 to buy the knicknack.

But since I already traded a hizzy for the nicknack with no impact on the budget I don't need the recoupe. I can add the second widget to my budget for $100 then tade it for a whosit but then I have to find anouther thingamadingy to sell to get the recoup to cover the cost of the widget.

In reply to Crazier :

That's still not right. 
 

The math I am suggesting: (1) $100 part, no recoup. Budget is reduced by $100. Recoup remains the same. 
 

The math you are suggesting: (2) $100 parts, $100 recoup. Budget is reduced by $200, but $100 recoup is claimed, leaving the budget reduced by $100 (same as my suggestion) AND the recoup reduced by $100 (which is worse than my suggestion). 
 

Your example doesn't free up available money. 

In reply to SVreX (Forum Supporter) :

You are correct. Because I can only recoup half of each purchase instead of half of the total parts and I was too dumb to get it.

I just used the budget spreadsheet for the first time

Makes it very clear even to a nubskul.