Over offered or bought above value

street

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Nov 30, 2016
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Has anyone ever over paid or offered above the value, because you wanted it? I have through the years and sometimes I can get what I want but other times they don't sell, or it just doesn't happen for some reason.

I recently made an offer for some land and the offer I made is really unheard of. That offer is still in the works, and I do believe at some time that land will be mine.

Sometime soon I will ask a person I don't know if they will sell me a cement sculpture of an old timer panning gold. The cement outdoor structure is about 3 to 4 feet high and 2 feet wide. It has set in that yard for years and I have looked high and low to purchase something similar to that sculpture. I just can't seem to find one even close.

Just wondering if any of you, ever have the obsession for something and will pay what it takes to get it. Most here I would assume can overpay a lot to get what you want. The problem lies with when our frugal genes take over and say no.
 
I did get into a bidding war and pay 30k over what my condo was worth 3 years ago. It was everything I wanted in my price range but my realtor advised against it. I knew I would be leaving here feet first so it didn’t matter.

Within a year it was worth more than I paid. One of the things on my wish list was to be on the top floor with the long view of the courtyard so my balcony would be private and I would have a beautiful unobstructed view but not be near the pool. I also wanted a new kitchen, wood floors and 2 bedrooms. The condo had it all and I knew that was my only chance to get exactly what I wanted.
 
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Has anyone ever over paid or offered above the value, because you wanted it? I have through the years and sometimes I can get what I want but other times they don't sell, or it just doesn't happen for some reason.

Sometime soon I will ask a person I don't know if they will sell me a cement sculpture of an old timer panning gold. The cement outdoor structure is about 3 to 4 feet high and 2 feet wide. It has set in that yard for years and I have looked high and low to purchase something similar to that sculpture. I just can't seem to find one even close.

Just wondering if any of you, ever have the obsession for something and will pay what it takes to get it. Most here I would assume can overpay a lot to get what you want. The problem lies with when our frugal genes take over and say no.
Regarding the bold: If you like it that much. I would be tempted to knock on the door and ask if they would sell it. You never know, the DW might hate it and want it gone, or vice versa. Either way, it starts a conversation. From your past posts, I gather where you live, the worst that might happen is you make some new friends.
 
We paid a "robust" price for our lakefront home. We had been looking for years and it seemed that over the years that the increasing asking prices were always just a little ahead of the increasing amounts that were willing to pay... so nothing happened.

Finally, we were looking at a property and I was hemming and hawing about the pricing and my best man scolded me, telling me that was the place that we wanted to be and that I should stop being a cheap SOB and just do it.

I took his words and advice to heart and we bought it. Then we added a well rather than the existing spring for fresh water and lake water for toilets and showers and a new septic system and a foundation. A few years later we tore down the building and rebuilt. (I forgot to tell our mortgage lender that I was going to temporarily destroy their collateral... oops!)

I've kept careful track of our costs and it is worth much more today than we have into it and, more importantly, we enjoy it even though it is a very expensive splurge in our life.
 
I've often envied people who have such a passion. I've just never felt that way about any object or even a person. I always find myself considering the price and being willing to forgo a purchase if I thought something was "over priced."

As I said, I kinda wish I could get beyond price and be passionate about something. But, I guess we are all who we are and are unlikely to change. I'm okay with who I am, but there are times I sorta wish I could be someone else. YMMV
 
Had to have a Jeep Wrangler during the supply chain fiasco in 2021 when dealerships had few vehicles. I paid $3k over sticker. I searched online in a 200-300 mile radius at the time and only found a couple Jeeps with the options I wanted. I tried to negotiate with the dealer, but they would only budge $1k. DW got fed up with the process and told me to just get it. So I did.
 
Nope, nothing has ever piqued my interest for me to pay more than asking much less something I considered overpriced...

But, for some reason in real estate in certain places it is expected... one of my nephews recently put a bid on a house in Portland $30K over asking thinking it would be a winner... well, no... the winning bid was $75K over HIS bid...

This would probably be the only thing where I would go higher... real estate... when every place is bid up you have to do that or not get it...
 
Pedantically: The value of an item is the price at which a willing buyer and a willing seller meet.

I think the reason this concept gets a little muddled is the existence of auction type situations where the seller's price is not a fixed number but rather the seller is attempting to discover the highest price a buyer will pay. But the result is the same: The strike price is the newly established market value of the item.
 
Had to have a Jeep Wrangler during the supply chain fiasco in 2021 when dealerships had few vehicles. I paid $3k over sticker. I searched online in a 200-300 mile radius at the time and only found a couple Jeeps with the options I wanted. I tried to negotiate with the dealer, but they would only budge $1k. DW got fed up with the process and told me to just get it. So I did.
Similiar story here. Our '03 Wrangler TJ needed to be replaced so we sold it and bought a new '23 2-door JL Wrangler. Paid sticker price...actually never even looked at sticker price. We wanted it, had more $ than we could ever spend in what remains of our lifetime so we wrote the check without any hesitation.
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I have never paid more than what the seller was asking.
However, there have been items that touched me deeply which I would have paid more for.

There have also been items, others would say, I overpaid for.

‘Worth’ is a very subjective idea though.
 
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Similiar story here. Our '03 Wrangler TJ needed to be replaced so we sold it and bought a new '23 2-door JL Wrangler. Paid sticker price...actually never even looked at sticker price. We wanted it, had more $ than we could ever spend in what remains of our lifetime so we wrote the check without any hesitation.View attachment 51512
That's a sweet looking Jeep! Here's mine - I have a hardtop that I take off end of April through late September.


jeep06262021.jpg
 
I had gotten into a bidding war for a tour of a set visit and meet and great with a longtime actress on a show the DW and I watch. It was at CBS studios in CA and is normally a closed set. It was offered through a site called Charity Buzz and the money goes to a charity selected by whoever person or organization puts the "item" up for auction. We ended up meeting half of the cast, getting a script signed by most of them and other show props and swag. We had an experience better than we ever could have planned for and to even though it was over 10 years now, we still talk about it.
It was much more than we would have ever planned to spend on this type of trip, but the experience was priceless to us.
 
I did get into a bidding war and pay 30k over what my condo was worth 3 years ago. It was everything I wanted in my price range but my realtor advised against it. I knew I would be leaving here feet first so it didn’t matter. Within a year it was worth more than I paid.
That is great! In many cases that is what I have experienced my overpriced purchase has become more valuable.

Cardsfan>> yes, that is my plan soon to go ask them and will ask them to give their price.
 
Nice Jeeps. I have always wanted one myself.


Yoheadden>>>That is interesting!! Sometimes it is fun to splurge when we know we can. Charty makes it easier to overpay for something. Good for You.
 
Nice! Ours came with the hardtop. we had both tops for the first few years when we had our '03 TJ and a buddy and I would swap tops in the spring and fall. When I retired in '05 I sold the hard top and ran with the soft top all year.

Our new JL came with just the hars top so I bought a soft top, sold the hard top and run all year with the soft top. I took the windows out in May and likely won't put them back in until fall.

My off-roadimg days are behind me so this Wrangler is mostly stock. The only mod so far are a set of locking hood latches. I plan on adding amateur radio. Any mods on yours?
 
Stopped at that home tonight but no one was home. Going to try tomorrow and see if I can't get that statue bought.
 
We paid about 1 1/2, what our property was valued at.
But it's turned out to be exactly what I was looking for and I don't regret it at all.
It's our last place and great Lord willing, we will live long, and pass here.
It's been an unbelievable Lord's blessing. We're comfortable but people of our means don't have property such as ours.
 
Nice! Ours came with the hardtop. we had both tops for the first few years when we had our '03 TJ and a buddy and I would swap tops in the spring and fall. When I retired in '05 I sold the hard top and ran with the soft top all year.

Our new JL came with just the hars top so I bought a soft top, sold the hard top and run all year with the soft top. I took the windows out in May and likely won't put them back in until fall.

My off-roadimg days are behind me so this Wrangler is mostly stock. The only mod so far are a set of locking hood latches. I plan on adding amateur radio. Any mods on yours?
My off-roading days are over too - for the most part. No mods on mine except for new all terrain tires
 
I bought my first house around 1975. I didn't have more than 2 nickels to rub together so I borrowed as much as I could to seal the deal to buy a small beach house that was in need of a lot of repair. It was sold by a closed bidding. One or two lawyers wanted a cheap house to flip and I wanted a home to live in. The house had been vacant for a couple of years and nobody else was interested. I put in a bid that I was sure would be higher than the other 2. That house cost me $18k but to me it was my first "castle". It was a leap of faith in my ability to learn a multitude of skills needed for house repairs/construction.
I probably overpaid a little but it turned out to be one of the best decisions I have made.
 
You can't take it with you and its very rare that one or two decisions change the long arc, particularly for someone who has been so disciplined as you to be in your shoes.

The point about "forever" items is right on. If its big enough, buy it, put it on the balance sheet, and leave it marked to the price you paid forever. Who cares?

If its too small to go on the balance sheet, who cares?

We stepped up and wrote an asking-price check for our beach house. If I had wanted to go rounds, maybe I could have gotten it for less but it was exactly what we wanted and I don't ever intend to sell it. It sits on the balance sheet at the price we paid. For estate planning purposes I'm sure I will have to value it again at some point, but mentally/emotionally I really don't care.

Another mental model I use: If the amount in question is less than our stock portfolio jumps around in a day, I don't make it a very long decision process.

Carpe diem.
 
Well, I got the guts to go to the door and ask about the old man panning for gold statue. It worked out great they had a price and I gave them 25$ more and they were happy as a lark!! They just moved in last Monday and they talked about getting rid of it any way.

I definitely didn't overpay but was willing to, to get it bought. It needs some work so will be starting anothah thread on suggestions for the repair. Also, a picture of my treasure. Lol
 
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