The F50 Thread | Page 157 | FerrariChat

The F50 Thread

Discussion in '288GTO/F40/F50/Enzo/LaFerrari/F80' started by amenasce, Dec 28, 2010.

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  1. Terra

    Terra F1 Rookie
    Rossa Subscribed

    Feb 16, 2004
    3,917
    Which shop Federalized it? G&K, JK or Wallace?
     
  2. Karimsaid

    Karimsaid Formula Junior

    Oct 2, 2014
    563
    Thank you for the depth and the detailed knowledge!
     
  3. christiann

    christiann Karting

    Nov 29, 2006
    207
    Karimsaid. To add to the mess each state in the usa has different tax rates for private party sale and dealership sale. Some can be the same for both. For example in illinois a private party sale in 2021 was capped at $1500.00 in tax. In 2022 the cap went to $10,500 in tax. If car was purchased from dealer its roughly 10% cost of the car. Using a 5 mill car you can see the difference of one cost of $10,500.00 and the other cost of $500,000.00.
     
    Karimsaid likes this.
  4. joe sackey

    joe sackey Five Time F1 World Champ

    May 23, 2006
    57,525
    Southern California
    Full Name:
    Joe Sackey
  5. Karimsaid

    Karimsaid Formula Junior

    Oct 2, 2014
    563
    Thank you, christiann. This seems quite tricky to navigate. I wonder how most expensive supercars sell in the US? Do they have, in general, such hefty taxes attached? If so, then it should slow down the change of ownership a lot.

    In the UK, there are no taxes involved in the buy/sell of cars (private or dealer or auction) except for the Value Added Tax payable (which applies only on the commission charged by the dealer or auctioneer).
    So if I buy a £1m car from dealer x and the commission is 5%, then I pay £10,000 of tax (20% VAT on commission of £50,000). Similarly, If I buy it through auction and the auctioneer’s buyer’s commission is 10%, then my tax bill is £20,000 (VAT of 20% on the £100,000 commission). And that’s it.
     
  6. dariedell

    dariedell Formula Junior

    Jul 12, 2021
    325
    United States
    Full Name:
    Andrew Riedell
    #3906 dariedell, Dec 12, 2022
    Last edited: Dec 12, 2022
    Allow me to introduce you to the weapon of choice for the F40 buyer facing a $150k tax bill in California:
    Image Unavailable, Please Login
     
  7. joe sackey

    joe sackey Five Time F1 World Champ

    May 23, 2006
    57,525
    Southern California
    Full Name:
    Joe Sackey
    You'd think it would, but it doesn't, cars here trade often as discussed in the F40 thread.
     
  8. Karimsaid

    Karimsaid Formula Junior

    Oct 2, 2014
    563
  9. Karimsaid

    Karimsaid Formula Junior

    Oct 2, 2014
    563
  10. Rossocorsa1

    Rossocorsa1 F1 Veteran

    May 14, 2017
    6,217
    Amazing. Beautiful work and admirable dedication to maintaining this great car at a supreme level. Thank you for sharing the journey with us.
     
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  11. Karimsaid

    Karimsaid Formula Junior

    Oct 2, 2014
    563
    Thank you and my pleasure, Jeff.
    You pursued a similar quest with your Countach.
     
    Boomhauer likes this.
  12. Rossocorsa1

    Rossocorsa1 F1 Veteran

    May 14, 2017
    6,217
    Yes, though my Countach is restored. Like you, I enjoy maintaining it at an extremely high level. Keep it up. It's beautiful and you're doing a great service to future generations of enthusiasts.
     
    Caeruleus11, Boomhauer and Karimsaid like this.
  13. joe sackey

    joe sackey Five Time F1 World Champ

    May 23, 2006
    57,525
    Southern California
    Full Name:
    Joe Sackey
  14. amenasce

    amenasce Three Time F1 World Champ
    Silver Subscribed

    Oct 17, 2001
    34,428
    Full Name:
    Joe Mansion
    Any F50 going to Cavallino?
     
  15. joe sackey

    joe sackey Five Time F1 World Champ

    May 23, 2006
    57,525
    Southern California
    Full Name:
    Joe Sackey
    At least one I know of, to be confirmed.
     
  16. mikesufka

    mikesufka F1 Veteran
    Silver Subscribed

    Mar 4, 2006
    7,761
    Crosslake, MN
    Full Name:
    Mike Sufka
    That is bad ass !!!!

    MDS
     
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  17. Ryan S.

    Ryan S. Two Time F1 World Champ
    Silver Subscribed

    Mar 20, 2004
    28,859
    Did this car go to Texas?
     
  18. Prancing 12

    Prancing 12 F1 Rookie
    Silver Subscribed

    May 11, 2004
    2,757
    The long way home
    Perhaps unrelated, but a (repainted from Rosso) Euro F50 in Nero just landed in the Austin area.

    Joe's car, based on his description, could really only be one car and I don't think it's going anywhere anytime soon... Unless it wasn't born nero?
     
    Ryan S. likes this.
  19. joe sackey

    joe sackey Five Time F1 World Champ

    May 23, 2006
    57,525
    Southern California
    Full Name:
    Joe Sackey
    No.

    It was born Nero.

    The Eu F50 recent to Austin is our client's car, we also sold him the Nero Enzo.
     
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  20. Ryan S.

    Ryan S. Two Time F1 World Champ
    Silver Subscribed

    Mar 20, 2004
    28,859
    Was lucky enough to see it driving the other day off of 6th. Think it had just been delivered. Looks sharp in black.
     
    Prancing 12 and TexasF355F1 like this.
  21. BtvFerrari

    BtvFerrari Formula Junior

    Feb 12, 2020
    426
    The Netherlands
    Ryan S. likes this.
  22. amenasce

    amenasce Three Time F1 World Champ
    Silver Subscribed

    Oct 17, 2001
    34,428
    Full Name:
    Joe Mansion
    Anyone knows if the yellow one from Wisconsin is still there?
     
  23. mikesufka

    mikesufka F1 Veteran
    Silver Subscribed

    Mar 4, 2006
    7,761
    Crosslake, MN
    Full Name:
    Mike Sufka
    Wow - where abouts ? I’ve never seen one and it’s my favorite of the big 5

    MDS
     

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