Official Countach Value Thread

Bump, anyone care to answer?
I am sure there are those in the know here.
I know that if you are a registered dealer you have to declare the tax.
However a sale by an individual would be state specific I would imagine.

 

I don't know how it varies by state but I am subject to FEDERAL capital gains tax whenever I am lucky enough to make money when I sell a car at the end of my ownership. I think that you can deduct as many expenses as possible associated with the car but beyond that, you pay the cg. Cars are also not eligible for the so called "collectibles" capital gains tax category. Also, cars can be put into 1031 exchanges as well.

None of this is any secret; it's all well known and searchable. You can look it all up.

 

AZ does not have a sales tax on private sales but you still have to pay capital gains. It's the capital gains you need all your receipts for.

Cheers Jim

 

Not my car as it is an S1...but has S2/S3 wheels. Will be interesting to see what estimate they put on the car.
1979 Lamborghini Countach LP400S Series I | Monterey 2014 | RM AUCTIONS

Brian

Sorry, did not mean to repost...just saw the other thread where Joe posted this car as well.

 

How do you define an S1? An S1 is identical to an S2 except for the wheels and (sometimes) gauges. How are you defining an S1? With Jaeger gauges and S2 wheels what makes it an S1?

 

Isn't this the car from the You tube video?


https://www.youtube.com/watch?v=L0SbGAghMZw

 

http://www.ferrarichat.com/forum/143187394-post19104.html

 

No, that is my car...an S2.

Brian

 

I think that car is a dream, to me the plastic on the bertone emblem looks just matt and needs to be polished, what do you mean with the side light shape? the US markers?

 

Yes... somewhere arround 500.000-600.000 USD? but it will bring more

i bet there are much people interested in this car.. everybody wants to clean and detail it, what a wonderfull car that is

 

+1 I love that color.

Only 864 KMs?

Where has this car been hiding for the last 30+ years?

Brian I think this car will fetch closer to 800k in this market especially 8 weeks from now.

 

You have to really be careful on the 1031 like/kind exchange. Obviously you set it up with a attorney that does them. For example you may sell the Countach & buy a Dino, but not a beach house.

 

Or a company. "Like kind exchange" only. Yes, you are correct.

 

Well he's down to 69k now, and i suspect nobody with any sense would touch even that with a 10 foot pole.

 

That is so awesome..

 

Be using 1036 as their gauge? I'd bet.

 

I posted this yesterday thinking that this forum / thread would be the best place to get the information / advice that I'm looking for. I didn't get any feedback. If this isn't the place to get the advice could someone point me to a better place?

Thanks

Steve

 

That is the right place. Let the pro sellers come out. It would be great if you had pictures to post as well.
A low miles pristine CT is going in the $500K now. Some auction sales are verifiable.
But you question about a pro appraisal is quite a valid one. It is like a house. You can do your own work or get a pro to appraise.

 

Hi Peter, I haven't seen any with this thick clear coat on them.
btw, if you need to buy some - go to a Ferrari dealer, they were also on the 308GT4.

 

Well, easy to correct.. if it is a reproduction.. the original emblems are impossible to find these days, in 1998 it was allready not available anymore, i ordered one by the factory back then and got a metal piece what even didnt look close like it.. the reason was that the originals corroded very quickly so they didnt produce them anymore, later there where reproductions available what looked close like the original but they have a sticker inside, its not exactly what it was before, the good thing was there will be no corrosion anymore. Sorry to say but i think on the picture your badge also looks to be aftermarket, the clear plastic looks not like the original but to be 100% sure i would need a bigger picture. Got here original badges and reproductions to match. To me the badges on 1098 are looking original, they also do have the clear plastic over it but its not easy to see on the picture and why it wouldn't have the originals? But what a Big thing about the badges here.. The car had even never seen polish, the badges on the back are never taken of to polish the car, its a complete virgin. Also i saw 129 on the fronttyre, week 12 1979, i would say this is the very first car with the "new style" rims, on 1100 they mounted the bravo style but perhaps that car was finished earlier or they found a last set bravo's later who can tell it... whatever no big deal about original badge yes or no, this car is a wonderfull museumpiece

 

hello Marcel!!!

nice to hear you here

i thought about this car...and being the car before last S1 i tend to agree it could be delivered with the S2-S3 campagnolos

So here we have probably the one and only S1/2 countach .... i'd say may be because it could be there is an other late 79 car with these wheels on

so to some it may even be the first S2 car... since the last S1 and early S2 are the same car with the exception of the wheels

in the end...it does not matter, what matters is here we found a nice countach S almost unused in a great color combo
i would love to own it...but i guess it will go for a lot of money...
market please crash before the auction!

 

Thanks for the reply

I'm not a big picture taker of my cars and airplanes. I've got a few that I'll try to post here. It's grey and rainy today and for the next few days so I'll take more when the sun comes out. I'm in the process of detailing the car after it's winter storage in my garage. in the meantime here is a write up on the history and condition when I bought the car.

The following is a re-typed document provided to me by the individual that I bought the car from in 1999.

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

Lamborghini Countach 5000 S
Serial number ZA9C00500CLA12540

Red / Champaigne (Tan) Gold Wheels With Rear Wing


The car was originally purchased Jan 17, 1983 from Emilian Auto, Bologna, Italy (original Bill of Sale is with the car). Emilian Auto was the authorized Lamborghini dealer for that region of Italy.

From Italy, the car was flown via Lufthansa airlines to Chicago, Il arriving Feb 8, 1983. Upon arrival the car was driven to Houston, TX. After another trip from Houston to McAllen, Tx and back to Houston, the car was stored from 1983 to 1994 in a private garage in Houston, TX.

During this period the car was stored and not driven. In May, 1986 the car was federalized for use in the United States. Original EPA/DOT releases are with the car.

Having personal knowledge and interest concerning the car since 1983 I was very interested in purchasing this essentially new car for over 10 years. Finally in April, 1994 I was able to purchase the car from the original owner.

At the time of the purchase the car had only been driven 5,675km or 3700 miles, most of which occured in 1983 upon arrival from Italy when driven from Chicago / Houston / McAllen / Houston. Upon purchase in 1994 the car was in totally original as new condition with the exception of some small imperfections in the original paint and in need of a complete mainteneanc from lack of use, as many of the engine seals, o-rings, gaskets, hoses, etc had become dried out, cracked and had begun to show some minor leaks.

A few weeks after purchase, because of the cars exceptional mileage, known history and excellent condition the decision was made repaint the car to show quality standards and to perform an extensive engine out maintenance.

Between 1994 and 1995 the following work was completed using all new factory parts:

Complete repaint from bare metal using factory Glasurit paint in the original Lamborghini red. Paint job was done by a shop that has prepared many cars for Pebble Beach and other national shows. Highest quality: better than the factory paint.

* Original factory wing installed
* Alpine AM/FM/CD unit
* Alpine speakers installed behind original openings
* Valve adjustment
* Adjust timing chain
* Cam adjustment
* Retorque cylinder heads
* Replaced motor mounts
* Rebuild carburetors
* Replace cam cover gaskets
* Replace piston rings & oil rings
* Replace valve guides and seals
* Replace rod bearings and nuts
* Replace spark plugs
* Replace oil, air, fuel filters
* Engine gasket set complete
* Engine and oil seals complete
* O-ring seal set complete
* Differential seals / oil
* Radiator fan motors
* A/C compressor / dryer /expansion valve / freon
* Ansa factory exhaust / muffler
* Belts
* Hoses / clamps
* Fuel lines
* Water pump seals / gaskets
* Differential flange
* CV joint boots
* Halogen lights high and low beams
* Fuel sending units
* Radiator flush fresh coolant
* Brake fluid
* Oil service engine / gear box
* Many misc nuts, washers, bearings
* Pilot bearing


* All work completed late 1995
* This car runs, drives, shows as a new car, no engine smoke or leaks
* Engine compartment, front trunk compartment and undercarriage are show quality
* Paint is better than factory new - no nicks, scratches, chips etc.
* Flawless interior - shows as new, no wear on seats or entrance panels, perfect dash, carpet as new
* All glass is perfect
* Factory gold wheels are perfect
* European front bumper
* Front spoiler is perfect
* Everything works on the car - A/C, heater, defrost, gauges etc.
* Much of the work was done for precautionary reasons because of age considerations, etc. Not because of actual necessity.
* All work was performedby a 15 year factory trained ferrari / ex Kremer racing mechanic. Extremely high quality work.
* Receipts for all parts are with the car
* Original tools, owners manual, factory invoice are with the car
* A complete parts manual is with the car
* Original shipping and customs documents are with the car.


XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX


Current owner's notes:

In addition to the above, I have photos of the engine out service showing the disassembly and reassembled engine. The photos were provided by the previous owner.

The owners manual appears to be a reproduction.

The tool roll is missing a couple of the tools but everything else is there including the little plastic container with spare fuses and bulbs.

The leather on the drivers side sill is slightly discolored.

There is a stress crack roughly 2" long in the paint in the corner of the drivers side headlight bucket opening. From 2 ft away it is difficult to see.

There is a crack in the paint on the rear wing where the end plate meets the airfoil on the drivers side. (about 3/8" long)

The gas spring that holds up the rear "trunk" has lost its pressure and needs to be replaced.

The front bonnet hold open mechanism is a little tricky to get to latch in the open position.

The serial number would indicate that the car is a 1992 version but the documents and title call it a 1983. Can't explain that other than it was a very late 1982 build and was sold in 1983.

The current Michigan title does not show the mileage for reasons I can't remember. I do recall that there was a lot of confusion at the Wisconsin DMV about the odometer being in kilometers and not miles. In any case the Mileage on the odometer is consistent with the tire wear on the original P7's that have been on the car since it was built. The tire date code is consistent with a late 1982 tire manufacture.

When the car was federalized a fabricated rear bumper was installed (and later removed). That bumper was attached to a pair of brackets located in the rear "trunk" which are still there. Two holes were made in the rear where the bumper supports entered the rear trunk. The holes are now filled by two plastic plugs which I personally do not find objectionable....purists might have an issue.

When I bought the car I did not think the engine bay was show quality. Nice? Yes. Show quality? Not in my book.
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Amazing car!
Are you Steve in the Detroit Metro area?