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This is all antiqueappliances.com's fault!  It doesn't really hurt to ask for an obscene price.  In time, they might get realistic.  The same thing happens everywhere.  If you sell, ask for the moon.  If you buy, I'll give you $20.
 
There's been a '54 GE on the local CL here with the same problem.  It started out at $500 a few months ago and last time I saw the ad, the asking price had been lowered to $250.  The owner paid $1,000's for it, completely restored and outfitted with a new compressor, which failed after just a couple of years.  Probably through antiqueappliances.com or a similar operation.

 

I just tried to find the ad to post a link here and it's not showing up so maybe somebody finally made an offer the owner was willing to accept.
 
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I bought one of these Hotpoints a few years ago for $75.00, but mine works.
I do not understand why some "restorers" replace the compressor's with new. The original will outlast several of the new style Made in China crap replacements.

I have a 1948 GE combo, and the Hotpoint, both running full time as my only fridges. Both working great with original refrigeration parts.

BTW: does anyone know the year of this Hotpoint? I'm thinking 1954/55??

rickr++1-22-2013-20-55-39.jpg
 
I do not understand why some "restorers" replace the

If I had to guess it's to appeal to mass market buyers who've bought the mass marekt "old refrigerator technology is not energy efficient and will cost a fortune to run!" and "refrigerators will break after 10 years!" sales pitches.
 
Given the work involved in replacing a compresser, I seriously doubt that restorers replace them on a whim. Systems can fail. Sometimes after running for 40 or 50 years, you shut one off an let it sit and it dies.

Greed and ignorance have their wages. Asking astronomical prices might make the seller feel that he or she has a real treasure, but it is a treasure they will have on their hands for a long time. Let's hope they really love it as much as they hope a prospective buyer will. A company that truly restores from ground up and from top down in entitled to ask what they want. I take issue with appraisals based on photographs without a hands on examination.
 
For me it's no contest.  I'll take a clean, well-maintained item in original condition over a sparkling one that has had a ground-up restoration.  It would likely be a fraction of the cost and would still retain all of its factory-built integrity.  No matter how you slice it, the offerings of dealers like antiqueappliances.com have all been compromised.
 
"It needs a new compressor"

Another possibility is that this is just their default answer to any sealed system failure. It is also likely to yield the service company the most money either through the extra part and labor value or because it is the highest scale on warranty service.

Years ago I recall John & Jeff getting a call from Whirlpool to go pick up a refrigerator that was still in warranty. It had already had at least one replacement compressor and another company said it needed yet another. Problem was actually due to porosity in the condenser tubing due to a welding defect. The unit was simply losing charge. After replacing that condenser and recharging, I wouldn't doubt that unit is still cold inside today!

Perhaps I'm jaded but I'm not sure I always trust that all service people know what they are doing...
 
At least with some restorers, an item can be "sort of" for sale, either in use by the current owner, or the owner believes the value of the item is appreciating enough to justify not readily selling it, etc.

I hope that's not even more than my usual mouthful. :)
 
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