HPH for sale? Options

[mepstein]

Parts wise, you have to pay about 1/3 of retail to make it work. That’s for the commonly sold stuff. The stuff that sells once in a blue moon isn’t worth putting in the truck.

[Maltese Falcon]

The land/building should be separated from the P-car parts for maximum value. I wonder what they are worth separately? Would be a major hit to the hobby if the parts are scrapped. Auction off the parts as a single lot then sell the real estate. Typical way businesses liquidate without ownership transition. We just saw this with PartsHeaven and EASY.

Dependant on the Structure values in HPH area; Pre-Fab metal bolt together structures on a slab do not command large property values*. In L.A. (example) I've shyed away from buildings such as these, due to banks that would neither write a mortgage/ nor allow me to borrow against it (if owned outright). Basically buying the deal for land value only.

*Your specific needs may be satisfied in utilizing a metal pre-fab structure *

Value of the "Goods" ...all you need is 1 buyer to make the golden deal.
Retirement...what's That ¿
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[rhodyguy]

I doubt any one would buy and try to make this biz work. Zoning and land use will come into play. Buying the parts lot and transporting it would not come cheaply. Not like you’re going to do it with a buddy and a Youhaul box truck. Well into the hole and sometime before you see a pennies profit.

[930cabman]

There are several items to consider:

the value of the land (assuming it's not a brownfield and any zoning restrictions)

the value of the business ( can be wildly variable)

the value of the either priceless 914 stuff OR the value of the junk littering the property

the value of any/all structures

This will not be a simple transaction

Best of luck to both parties

[rhodyguy]

‘Redwood City land values’ Gulp. Eye opening. Not that far from Menlo Park. YIKES!

[vitamin914]

The land/building should be separated from the P-car parts for maximum value. I wonder what they are worth separately? Would be a major hit to the hobby if the parts are scrapped. Auction off the parts as a single lot then sell the real estate. Typical way businesses liquidate without ownership transition. We just saw this with PartsHeaven and EASY.

That seems like the only reasonable option to get the most out of the inventory or maybe break it up into multiple lots to make it easier to sell.

Unless someone has the desire to take it on as a business, the parts are a liability not an asset. Even as an asset, it can only be valued at slightly more than scrap rates, definitely not at retail/wholesale values. It is not NOS. Very few will value the parts any other way and that is hard for owners to accept.

When a local Porsche scrapyard (Nineapart) in Ontario, Canada, closed its doors last year (the owner sold the property) he said he was getting roughly $100 to $150 per ton of steel. Of course that didn't stop him from charging me the going rates on parts from the last five 914s I picked over the day before they were crushed...

I could understand where he was coming from. He would have to pay $15k or more for a written off 911 and then have guys trying to buy parts for not viable nickel and dime prices. What baffled me was he still wouldn't let me at things like the 914 door handles and dashboard parts... even from the 914 that had folded in half. Not like he was going to harvest them for a retirement fund before the property changed hands in two weeks... go figure - tough to let go I guess. Best of luck to these guys...

[jhynesrockmtn]

Very expensive area. I have a buddy in Menlo Park who owns a nice home he built 10 years ago on some property he'd owned for 20+ years. It is no McMansion though and would be $700 to $800k in Spokane WA where I live. His Zillow value range is $3.1 to $4.1 million. For a 4 bed, 3,000 sq. ft. home on an 8,000 sq. ft. lot.

It would be fun to pick through that stuff, especially the wheel wall. I have one or two of many of those items pictured and will likely give them away at some point unless my son decides to take on a project car in the next few years. Sad.

[dr914@autoatlanta.com]

It would take FOREVER to sell those used parts and then they would still not sell. Anyone restoring a 914 wants new parts unless not obtainable and with Mark and I making a bunch of them, demand for used has dramatically lessened.
Being the 914 parts hoarder I am, I would but them, but the transportation and loading and unloading would be monstrous and expensive

[windforfun]

It would take FOREVER to sell those used parts and then they would still not sell. Anyone restoring a 914 wants new parts unless not obtainable and with Mark and I making a bunch of them, demand for used has dramatically lessened.
Being the 914 parts hoarder I am, I would but them, but the transportation and loading and unloading would be monstrous and expensive

I'll let George have the last word on this one.

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