Value of stolen/recovered 328

Here's an interesting situation. This car went on sale on E-Bay with no reserve. 1986 red/tan 328 GTS with 41K miles stolen in 1992 and recovered in 2000 with re-issued VIN # as a recovered vehicle. Condition looks good in pictures and rated by seller as "average car."

http://cgi.ebay.com/ebaymotors/ws/eBayISAPI.dll?ViewItem&category=6212&item=4512144339&rd=1

Also listed on their website for immediate sale for $29,900:

http://www.executiveautogallery.com/showroom.php?type=Car

So assuming everything else being equal and car is in working condition, what is the fair market discount on a stolen/recovered car without clear title? Since car was stolen, condition of use unknown, unable to verify proper mileage on odometer, no service records (and can assume negligence of any service) how much should that knock off the price?

Can this car even be insured against theft, loss, collision, etc. with an insurance company?

Does this car have any value for resale through a dealer should the new owner choose to sell/trade the car in the future, or is the prospective owner doomed to be the final owner or else sell the car on his own to a private buyer? I'm particularly interested in the opinion of some of our dealers on FerrariChat forum like Martin and Jonathan.

Overall, does this have the potential to be a good deal, or is it no deal at all?

 

do a PPI, offer them $25k and drive the piss out of it. you can chop the car up for parts and get at least $10k for it if anything major goes bad. the title question depends on your state. i could register it here in Georgia. the worst that could happen is that it would have to be inspected for $125.00. i know the local inspector(s)

it would depend on how bad the car was damaged and the quality of repairs.

 

That won't work -- bidding is already up higher than that.

 

Missing for eight years! Jeeze! I'd like to know where it was for those eight years.

It doesn't look like it was beaten for every day it was gone, that's for sure.


--Mike

 

I'm sorry, but although I thing I have an acceptable level of english I don't know was does "title" mean in this context?

What is a reissued VIN?

Thanks

 

Title - a document issued by a state's department of motor vehicles showing the registered owner, mileage at registration, and other miscellaneous items that vary by state. A title will also sometimes indicate if the car was ever declared a total loss and sold as a salvage vehicle.

Reissued VIN - The identification number tag is damaged / missing from the car, so the department of motor vehicles produces a metal tag with the ID number on it to be attached to the car. That's why this car's VIN tag has "Pennsylvania Special Plate" on it rather than the factory Ferrari information.

 

You could export it and close to double your money @25k right now.
Does away with the title issue as well.

 

Thank you bandit.
i have no notice that this thing is also done in Spain...

 

Looks like someone had an eight year joy ride.