Car guy code, you know, an unwritten rule. If you buy it outright, it's yours. If someone gives you something (transmission, dead project etc.) you're obligated to give them first refusal if you sell it AND should give them half of the profit. Without the free stuff, your profit would be zero.
My situation: My friend Jerry gave me a 12 ft. fiberglass boat because his grandkids hate it. Threw in the 4hp outboard too. (1974 boat, 1975 motor). I was going to jet ski it like Toyman did, but there;s another shiny thing on the horizon that turned my head. I painted the hull, ordered parts for the engine and then it goes down the road. Trish asked me what I'm going to do with the boat. I explained The Code.
My investment in this boat will be about $200. I go back to Jerry and offer it back to him for the $200 I have in it. If, say, I sell it for $1200, I get $200 + half of the $1000 profit, Jerry gets $500.
Then she goes all Capt. Barbosa on me: "Is it a strict code or just guidelines?"
If I give something away it's the same as if I've sold it.
No strings attached over here.
Never heard of the half the profit part of it, TBH. Its a nice idea, though.
I’ve done the half the profit thing a lot; but it’s no strict code for me. Falls into “it depends “ category
That seems like a dumb code to me. I get a crappy thing, turn it into something nice, then have to give half the money to someone who gave their junk away? Don't think so, unless the giver of junk knows he's giving something of value, and an agreement has been reached beforehand.
I've had family give me a car to sell and agreed to give me some of the profit. Going in to it I'm aware my part of the profit is for me selling the car for them.
In your case it's all your money unless you want to toss him $2-300.
I gave a family member a free car as he was down on his luck and he sold it 9 months later for $500. That $500 was all his but I wouldn't reject $100 if he offered me cash back (he didn't).
Code? WTF are you talking about?
If there is a code like that, then it was never a gift.
A gift is a gift. Once given, new owner owns it entirely.
In reply to Streetwiseguy :
I think it would depend on the situation. If it is a truly a case of turning a pig's ear into a purse then I agree with you, but I can see the value in a friend giving you something decent and you putting in a little work for a lot of profit when you're done.
Shadeux (Forum Supporter) said:
If I give something away it's the same as if I've sold it.
No strings attached over here.
Same, never expected anything back if they sold it.
Not The Code. Trying to make that The Code would lead to endless arguments about how much of the profit was due to what was given vs value added. And The Code is intended to reduce arguments.
Possibly related: One does not give a knife to another. One sells it. Probably makes the transfer of ownership and responsibility clear, eliminating the "I only loaned it to you" fight.
I get where you're coming from. I once sold things at a discount to a GRM member as a favor, them watched him flip what I sold for double the money. It was not a good feeling. But what's sold is sold.
I have given deep discounts to people here many times in the hope and expectation that the car would make a Challenge appearance. I've told them I was giving a special discount so they could bring it to the Challenge.
I've never seen one of those cars make it to the Challenge.
But I also have no regrets. I know that once sold, it's out of my hands.
Maybe that's your Code, but it certainly isn't a universal one. I've given away parts before with no expectation that the person would give me money later if they sell them. You're giving it to them, they get to do what they want with it after that.
You either own something or you don't. That "code" is about the dumbest thing I have ever heard. Creepers putting "strings" to a sale? I would walk so fast from a sale if I even remotely heard that kind of BS when purchasing something.
The I am selling it to you BUT if you make money with it I deserve some of it is complete crap!!! Raise your price for christ sake if you want more money or get off you back side and fix it your self and make more money.
WTF I can not believe we are even having this discussion.
This kind of crap causes friendships to burn to the ground.
Lets see. I get a car from you and put a 100 hours into it plus parts. I am supposed to give you 50% of the profit? What that equates to is I am cutting my labor costs in half for you. What this really is a form of extortion. Almost how the mob ran things back in the 80's here in Boston.
SVreX (Forum Supporter) said:
I have given deep discounts to people here many times in the hope and expectation that the car would make a Challenge appearance. I've told them I was giving a special discount so they could bring it to the Challenge.
I've never seen one of those cars make it to the Challenge.
But I also have no regrets. I know that once sold, it's out of my hands.
untrue. The MR2 even made a lap under its own power!
Re: the code -
So are you still calling all your college girlfriends when you have a new test result at the clinic?
Oh and "giving" some one parts now and expecting $$$ later when they sell them is not giving them the parts. It is selling them via consignment. People with this warped sense of entitlement I walk away from really fast.
You are either giving them away or you are loaning the part to someone or you are selling the parts to some one. Pick one and make sure that the other party understands the agreement up front.
I have never heard of this. If I give someone something or sell it to them cheap, they are under no obligation to give me first right of refusal, give me any profits, any of that. When I was still very active in the E30 scene, I frequently gave away parts or sold them super cheap to local guys just so I wouldn't have to deal with randoms.
Hell for instance, I traded a '92 E30 Vert (plastic bumpers) that needed work for a built engine. I had $1000 in the car and the parts to get it running. I sold the engine for $3500.
I have no idea where you came up with this cockamamie idea.
Generally if one of you gives me something i'll pass it along to another GRM person for free. The Wartburg is the only car I've bought with a "if you sell please ask me first" clause. Generally, if I sell a car, I never want to see it again let alone buy it back.
Robbie (Forum Supporter) said:
Re: the code -
So are you still calling all your college girlfriends when you have a new test result at the clinic?
Now that is some funny @#$%. I am still laughing.
The only guy code I know is the dating younger ladies code.
Her age = 1/2 your age + 8. I'm 58 years old. (29 + 8 = 37)
I can't date or marry any ladies younger that 37.
I know. . . The "Code" is really a form of separation anxiety.
Datsun310Guy said:
The only guy code I know is the dating younger ladies code.
Her age = 1/2 your age + 8. I'm 58 years old. (29 + 8 = 37)
I can't date or marry any ladies younger that 37.
I always heard it was +7, not 8
Wait I just had a thought does the code work in revers? Say I get a car from you for $1,000. I put 100 hours in to it. My billing rate is $100/hour so I am in to the car for $11,000. If I sell it for $5,000 can I go back to the person that sold me that car and get my $6,000? If this also applies to the "Code" I am all in. I mean that is how the "code" works right?
i get what the OP is saying, because he got the boat from a friend. in that case, i'd be inclined to pick up the tab at the next bar night. in my case, all my friends know i'll sell pretty much anything other than my wife and kids, so they _expect_ that anything they give me may be turned into something else at any moment.
