Dealer Sold Ferrari 2 Years Ago and Never Informed Owner

A friend gave his low mileage 355 Berlinetta to a respected independent dealer in early 2008 to sell under consignment. The economy subsequently tanked and so over the following 2 years he progressively lowered the asking price with very few interested parties making inquiries about the car. As the owner lives most of the year out of the country and usually spends only summers at his home in southern California, he really hasn't had much contact with this dealer about his car but has continued to see the car for sale on the dealer's website.

He just found out when inquiring about the car, that it was sold over 2 years ago (apparently to an out of the country buyer, consequently has had to continue to pay California registration fees--so was not aware of this sale this way). The owner of the dealership didn't even want to speak with the car owner and after a few days after persistent phone calls, he finally spoke to the owner about payment and told him it would take several days to determine how much it sold for. A meeting is planned with the owner Monday to discuss payment.

This is outrageous to me and it seems that there should be some legal action taken against the owner. Any recommendations for lawyers experienced in this arena?

 

Send a copy of this article to the dealer the day before he's scheduled to talk (eerily similar situation) and then tell him the next phone call is to the police if he isn't paid. These guys are off to jail even with the plea bargain.

http://www.independent.com/news/2011/dec/27/montecito-motors-owners-arrested/

 

If the registration bill was still coming then this yahoo never notified the DMV either?

Goodbye license, hello jail!

 

Thanks Monteman--will forward this article.

 

Contact DMV investigations. They'll take this very seriously. Not exactly sure how they were able to swindle the guy for two years without him smelling a rat? I'd be sending someone off to check on the car just to see if they're doing anything. Have all your ducks in a row before meeting with the guy so that you come out with all guns blazing as this was deliberate fraud.

 

I think you should disclose this "respected independent dealer" so we can all avoid.

 

I'm sorry but this guy did not even bother to stop by and see his car for 4 years? Dealer is scum but this guy seems to not have had too much interest in this car

Edit:

How was he getting registration renewals when the title and registration was transferred to the new owner

 

I'm with others here. This was an illegal activity. Just getting his money back is only one facet of this story.

Someone needs to arrested for fraud and theft because that's what's going on.

Get your money... then contact the police. This is no different than car theft. Would you let a car thief go?

 

They deserve to have they're license taken away. I'm in the same business and it's guys like this that give the rest of us a bad name.

 

Was this a dealer on South Robertson in the LA/Beverly Hills area?

 

No, San Diego.

 

+1

 

I'm in complete agreement. Tomorrow he will try to get his money first, then.....we will see what happens after that.

 

I will...after tomorrow.

 

Good guess though.

 

In response to Darth's posting.... "That dealer" has since lost his resale license for that location. I believe "this dealer's ex-partner" went away for a little bit.

 

Jakes Motorcars? I don't know of any other independent exotic dealers...

 

Definitely was NOT us here at Jake's Motorcars. I would never do that to a customer.
Im curious on who it was also though

 

He was a real charmer, that one....

 

Wow! Those Montecito guys are facing THIRTY YEARS. I don't even think second degree killers get that much time in this state. There IS that tax issue though.

 

Doesnt make sense if its a reputable dealer like Jakes, Cavallos or Symbolic. They have way way too much to lose for $50k!

Im guessing its a "highline iron lot". You know the guys that sell MBZ, BMW, and Land Rovers!

My first call would be to an attorney, but I wonder if the Dealer even had a signed consignment agreement..because the owner shouldnt have to see what the car sold for, they should have had an agreed upon number.

Let me say it one more time, call an attorney and he can get damages or at least extort some incompetancy fees!

 

Update! This father/son took the plea bargain and are off to the big house for 11 years. If this doesn't get this dealer to pay, nothing will.

 

Was a similar story a few years ago about a yaght broker that sold someones boat on consignment and never paid. THen the broker went out of business. The owner of the boat sued the new owner but was protected under consumer rights laws.. I think the article was in SCM..

 

Funny, I tried to buy a car off these guys back in 06 (on consignment I later found out) and the deal fell apart after they insisted I pay them the full price of the car before allowing it to have a PPI. Needless to say I walked away and in hindsight probably saved myself a lot of grief.