Soon to be on Copart.... F50

I can't imagine how much that is going to cost to fix. Keep in mind the F50 has no frame and that damage is exactly where I would not want damage. The front not so much. Would need to be put on a lift and much closer inspection. bummer

 

Guys just as some pointers to note on this one.


bid right now is $65,000 this is not like ebay, the auction will go live with the starting bid at $200,000 or what ever it will be at the open of the auction that morning and the bidding process could flatter out or just spiral out of control to $$$,$$$ etc


http://www.copart.com/c2/homeSearch.html?_eventId=getLot&execution=e5s1&lotId=28004911&returnPage=SEARCH_RESULTS


tips about co-part

Transport:
1) Be sure to check that the transport company your going to use is Lic to go into Kentucky as I had a surprise when I bought a car out of there I had to have a business associate pick up the car for me from Ohio. so make sure you ask ARE YOU legal for vehicle transport into and out of Kentucky.

who owns this car: It's not copart or insurance : it's a dealer who dumped the car in the auction.

2) This is a private sale meaning who ever is the owner now is up to them what sale price will be at the end of the auction, meaning if the bid ends at $90,000 the seller / owner of the car now can decide to cancel the auction or at the end of the auction, if you are the winning bidder the buyer "you" can counter offer of $300,000 for example with a lesser amount but the down side of that is the seller could just realist the car and your out of the bid.

Just know this if you get lucky winning bid, just take it other wise as I have experienced in the past, private sellers on there are very irrational and can decline your bid offer on something like a difference of $100.


3) Fees anything above the $12,500 mark + is 7% of sale price + sales tax + internet buyer fee and other bits that are fees + if you pay with credit card there are more fees


4) Payment if your late = your effe'd just have the bank wire ready and bank check ready
other wise the penalty for being late is crazy steep. If you forfeit and don't want it its 10% of the sale price.

Just make sure if your the winning bidder call the lot right away and make the arrangements when it will be paid and picked up.


5) Call and ask if the title is on hand and that you want a copy of it or proof they have it, Bought a car from them and the title was listed in the auction with the car but there was an issue and took 30days to get the title to me.

DO NOT ASSUME ANYTHING, get all of your P's and q's in order and go have a personal look.

Just know you will be mainly bidding against the Kings of the USSR, Eastern Europe, Africa and Middle East = mainly Saudi Arabia who love to over pay big time. So if your planning on bidding I'd recommend sitting this one out unless your like Joeslacky or Sugahanessey who have a strategic market for customers with this car i'd say there will be a lot of fireworks with this auction and might go to some crazy amount.

If you want to put this back on the road everyone will know its that car and it will have that stigma of the "salvaged" F50.

If your going to broker the car to someone else go and get the other persons blood signed on the contact that they know what they are buying. .

 

''all'' you really need is a mold for the tub. I'd be surprised if a mold wasn't laying around Ferrari by chance...

If there are no molds left, creating one in CAD/CAM is doable. Won't be cheap by any means though.

I reckon you'll be spending the best part of 200K USD worst case scenario. I'd probably go further though and get the doors, bumpers and bonnet/boot created in proper dry carbon, will save a good few KG's over the thicker laid stuff. Wouldn't make much difference cost wise and since it'll be worthless to most anoraks might as well do it....

As long as the car can be bought for around 200K it could be a worthwhile project.

 

Car is on PA certificate of salvage, created when it was originally stolen and deemed "lost".

I suspect the title will always remain so ? Does PA allow for salvage titles to be converted back to driveable titles ? Not sure of the laws here.

 

Doesn't quite matter what PA laws allow. A buyer could take the vehicle to another state with less stringent registration requirements and 'wash' the title clean. It doesn't even take a friend at the DMV like the original theif employed and it happens far too often.

One would imagine that so long as this F50 retains its original VIN sites like AutoCheck and CarFax will reference the 'ugly' years of this car's history. Frankly anyone who ever tries to pass this one off as anything but what it is will be foolish. Too much publicity and too easy to discover the truth here.

It can be driven, registered and even insured with a Salvage title though - plenty of people do that. In this case it might be tough to find an insurer?

>8^)
ER

 

I'd be curious to hear from some of our in-house carbon fiber experts (a couple are sponsors) as to an idea how much the tub would cost to remanufature. Also, how to repair the door? What is it made from? Also, has anyone checked Ricambi if they have a front bumper?

 

I'd just drive it like that...tell everyone I hit a curb yesterday in the commute......

 

What a shame. Please someone fix that car....!!!

 

I'm not a CF expert, but it seems the tub could be used as a buck for making a new tub mold. Otherwise, to the best of my knowledge, the MM Enzo had a engine horn repair done by CF experts in the aerospace field. Perhaps there is a way to repair. I've seen a bumper advertised recently buy it now for $9,700.

 

Interesting to read how the salvage situation works in the states , although with such a high profile car as this any falsified or mis laid paperwork relating to this particular vehicle will make no difference. It has to be THE most famous ( well known ) f50's out there.

But interesting how regarding moving vehicles to different states can help clean a title, here in the uk we have 2 categories, well 3 but the latter is only declared at the point of sale when the vehicle is sold by the insurance companies through the likes of copart etc, and the is classed as category X or cat X which means once you buy the vehicle it will not reveal any discrepancies when a check is made against the vehicle in the future this is normally when a vehicle has been stolen and recovered ( probably via tracker ) , or if it was very minor damage to a newish high value car like a phantom or Bentley and a discrepancy would put off 95% of it future customers. So working in favor of the insurance companies who will make at least an extra 10 -20% compared to a vehicle with a marked title.

The other 2 categories are cat D and cat C, cat D is where the vehicle has suffered minor damage And the cost of repair will be approx no more than 30% of the value of the vehicle if bought on the road, so older vehicles will almost certainly not be cat D. These vehicles will appear as normal when looking through its paperwork until you pay for a HPI ( uk version of carfax ). Cat C vehicles are different as when you buy it you will not receive the title for the vehicle until you have taken the vehicle to a ministry of transport check site on a trailer for them to perform a VIC check ( vehicle identity check ), which you have to pay for, the vehicle must of had the majority of its repairs carried out and start and drive, but can be multi coloured with bumpers and lights missing, once the check the vehicle is the actual vehicle by its vin numbers and engine number you take the car away and they will authorise DVLA to issue a V5 logbook (title), HOWEVER this category of vehicle will/should always have a Cat C stamped across the logbook in red, so future buyers know this vehicle has had structural damage or significant damage. Almost all flood damage will fall in this category too as electrical repairs can go on forever.

When Rover MG went bust a few years ago all their vehicles when damaged were classed as cat C as no body could buy genuine parts to replace the dent in the wing or damaged door lock.

There is also a cat B but you must be a registered parts breaker with a yard, and these are cars where people have been cut out of cars or burnt out vehicles etc, and can never be put back on the road, but can be used on a track.

 

Its over $ 100K now . i know dealers can sell through Copart , + even Copart buys car privately and then auctions them . but i do not know who owns this car now , anybody want to guess what the winning bid will be ?

 

$300,000.00-ish

 

"The driver, FBI agent Fred Kingston, lost control and the car hit bushes and a small tree, Thompson said."

What a complete tool. It will be good to see someone get to work on that beauty.

 

couple of notes to your reply.

Point 1, just simply asking the carrier if they are allowed to go into Kentucky is a simple question to avoid delays regarding picking up.

point 2 if the insurance owns this car they would display it saying it clearly in the auction preview - this one clearly has been bought by someone and, since its an auction buyer beware - you bought it as it is and this is "not for sale to the public". you can go on there and type in Ferrari and select for sale to public and its not offered to the public so this is a dealer or wholesaler who owns this car now and not an insurance offering.

point 3 - thanks for prying sorry not sharing any info with you about this just giving other people who are not aware of the bs one can get into when bidding, frankly I have no horse in this race and I am a bit confused as to why you have posted a fair amount of discrepancies regarding this, frankly has me worried.

um, the fees are posted at the bottom of the site and it clearly shows anything over 12,500 its 7% and if your paying cash yeah there is a buyer discount but knowing the haywire frenzy calculations done at your local copart can vary.


point 4 - so send you or your contacts a non secure 10% deposit and will you be selling me the Brooklyn bridge and the Empire state building as well ? since were at it can you get me a happy meal as well ?


FYI for others Prebid is about $165,000 right now.

 

Kinda interested to know what title Copart has on hand for this car.

 

Greg or others with access,

Just curious, what was the winning bid on the Y88 D) http://ferrarichat.com/forum/showpost.php?p=141217682&postcount=64?

TIA

 

I have a question , since its a carbon fiber tub , could it not be grinded, laid up with carbon fiber and epoxy resin , then vacume bagged to repair it , ? It might not be damaged where the suspension bolts on to the tub,, so the real integrity of the chassis where it counts is still there.

 

I can't imagine what it will go for. As a parts source it's "worth" a lot,... but is there much demand for parts? How long to recoup the investment.

At $250K there isn't any downside,... as pretty easy to recoup the costs over time selling the bits.

At 400K I don't see much chance of a financial win.

I predict $310K to $350K.

 

Don`t feel bad , i can`t afford it either, + by the way thats some imagination you have!!!.............( i mean that in a good way )

 

So overall you're either a broker or the current owner of the car ? just giving others heads up on this just what to look out for. for anyone wanting info they can call copart directly speak to the manager and get all of the info they need.

That site you posted needs to update the info and why dont you post the screen shot of this ?
Image Unavailable, Please Login