Official Countach Value Thread

amazing - its like uve known me forever - I hate/don't understand the tax code and i wld definitely be the idiot to go chase a car after i sold it - which is why i never sell any of my Italian cars!

 

Capital gains on cars are not 28%. 28% is only for NAMED collectibles of which cars are not.

 

Very true, but how long can this bubble possibly last? I Personally think this will be the last big bubble in the collector Ferrari/lambo car market.

As technology continues to advance (think Telsa) the next generation (my kids) will wonder what the heck we were thinking driving these silly smoke making noise makers. Some cars will still hold a value, but not like what we see today.

Ride the wave, but get out I would say with in the next 2 years. The market will only bare so much.

 

so what do they get taxed at then?

 

Why would he be nuts?
Maybe he might kick himself in ass some ten years from now when the car is worth a million.
How can you predict the market ten years from now?

 

It depends on your tax bracket. Ask your accountant.

But since you own your cars because you love them and not for any investment purposes, you don't need to bother. I have some keepers and some others that I have gotten my enjoyment out of so I have to pay attention as I have to bear the burden of capital gains taxes from time to time.

 

I keep coming up with 28%, plus state & local. Treated much differently (taxed higher) than real estate/stocks fwiw.

https://www.pli.edu/product_files/EN00000000046693/89177.pdf

 

As I said before, cars are not defined as collectibles per the tax code. They are taxed at the same rate as RE and stocks. I just went through this whole thing.

 

AIR4C,

I'm sure you and others would like to assist not just me but anybody else on the forum. That is why I like FerrariChat.

I'm still not sure to sell it this time or wait for few years. I'm in deeeeeeeeep love with the car.

That's why I'm not giving more details for now.

But hay I have the car so what the hick... Enjoy the pictures

Hazim
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yeh don't let it go for a penny less than 600k!

 

You really have to think globally Tom, the cars that will be hit most will be the astons, Audi r8, Nissan GTR, etc.....You are correct that today's kids will view cars differently, but lambo's/Ferrari's / Porsche will always have a following as it is the pinnacle of car performance excellence and technology.
As the population continues to grow, and other new millionaire's keep coming online globally the old car hobbie will just fluctuate.
A bubble would constitute buying and reselling higher and higher ... Not enough of these cars between Dino's CTs, bb boxers to satisfy the demand, pricing will stay constant now on these. For it to burst , 500 Dino's, 500 bbs , 500 CT , and 100 C/4s would have to come online in the market all at once - I just don't see that even remotely happening.

 

1979 Lamborghini Countach LP400S Series I | Monterey 2014 | RM AUCTIONS

I wonder what this time-capsule will bring?
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Is this suppose to be a Bravo-wheeled car?

$750,000......just guessing.

 

The auction text addresses the wheels:
1979 Lamborghini Countach LP400S Series I | Monterey 2014 | RM AUCTIONS

"The last Series I LP400S built was chassis number 1121100, a right-hand-drive car delivered to the United Kingdom. The car offered here, chassis number 1121098, was built immediately prior, and thus, it is the last left-hand-drive, U.S.-delivery Series I built.
The paperwork that accompanies the car tells its story. It was finished not in red or white but in a spectacular and seldom-seen shade called Rame Colorado (Colorado Copper); this was the same color used on the Countach that paced the 1980 Monaco Grand Prix. The car was also equipped with special-order upholstery and an early use of the concave disc wheels, which were shod in P7 tires.It was imported to the United States on February 26, 1980, and it was sold a year later, on March 17, 1981, by Auto Palace Sales, of Pittsburgh. The car’s price when new was $95,000, all in.
From Pittsburgh, the Countach made its journey to its new home on a transporter, and there it has remained, owned by its original owner and his family, ever since. It was stored with scarcely more miles than it had when delivered, and today, it records 864 kilometers, or about 537 miles, from new. Incredibly, the car has never been road-registered, it still has its Euro-spec 45-millimeter Weber carburetors, and it is still on its “EE” export plates, which were installed by the factory on automobiles that were being sold out of Italy. Almost all of these were changed out for dealer plates and discarded, with an exception being this Countach, which not only still has the plates, but they are still on the car!
Not surprisingly, the car’s unusual, spectacularly beautiful paint color, which is set off by a tan interior, is still deep and unfaded, with none of the road rash earned by many surviving “original examples.” The interior is similarly mint, with seats that are still tight, smooth, and soft and dashboard gauges that are clear, and it is all surrounded by crystal-clear original glass.
The Countach is accompanied by its original keys on their original fob, as well as the support booklet for the Alpine CM-630 High Fidelity stereo, which is still in its original plastic sleeve, and the aforementioned importation and sales documentation. Having been in storage essentially since new, it is advised by RM Auctions that the car be professionally inspected and serviced before being returned to the road.
For the Lamborghini enthusiast who demands purity of line and unquestioned authenticity, there is no better opportunity to own this purely original supercar."

 

Possible reality check coming for the market...

Just watched the 250GTO sell for $34.65m after slow bidding (50k increments by the end). Hyped at $70-80m pre-sale.

Other lots nor making low estimate. It's got to feed through to rest of the sales this weekend?

To add: Phil Hill 250MM Berlinetta just went at $6.6m against $9-12m estimate.

 

For lot 003/Ferrari 250 GTO s/n 3851GT, the actual estimate was $ 42.2m - 50.7m, and it just sold for $38.1m all-in. The pre-sale hype was just that.

 

Regardless of what happens at these auctions, don't you think the Countach is still way undervalued relative to these other top tier collectable supercars?

 

I think the auctions do matter to a degree because they set a benchmark in Buyer's & Sellers minds.

I also think its impossible to say if the cars are undervalued (without speculating). Countachs have sure gone up, but so have some of the other top tier collectibles.

 

I don't think so, the countach should be at the same level like the F40 since a similar number had been built.

I'd go so far to say that a countach was a drivers car in contrary to many F-cars which were bought and hardly driven.

Only these few low mileage cars get a high price tag, a regular countach is far away from that range.

 

Which I think is why so many have kept quiet publicly for so long. Waiting and watching. I have a number in my head, and depending on how this performs I'll know what to expect going forward.

 

I think these days, that highly depends of how much wine tasting they provide during the pre-inspection before the auction..

Given most carb car seem to be around $500K now, i'll say this one will reach $850K-$900K due to low mileage. A driver would not buy this, only a collector to store it away for ever.