Part 6/8:
After successfully restoring the car to a presentable condition, Buddy lists it for sale. Based on his research and the current market, he starts at $10,000 but quickly adjusts the price upon realizing the market dynamics. He drops the listing to $9,400, at which point interested buyers arise.
Eventually, he negotiates a sale at $8,800, marking a successful turnaround from his initial investment.
Calculating the Profit
After deducting all costs associated with repairs, parts, and helping hands for detailing, Buddy tallies his total expenses at $3,729. This amount combined with the sale price of $8,800 reveals a substantial profit margin of $5,071.