Annual Monterey auction thread

^^^^^^ THIS ^^^^^^

 

They screwed themselves out of a display deal on 6885.

 

More like a shave. The call him Cueball.

 

I believe I was told that the car was sold now by the estate of the purchaser in 2014. If that was the case, there could be a number of reasons why the value achieved today was immaterial... i.e. they just wanted it gone.

Nonetheless, demonstrates a huge financial loss and perhaps an overall cooling for an association with the, er, King of Cool

 

One of our own did well. Please read the description for a lesson in driving these cars.

https://bid.goodingco.com/lots/view/1-7S8T5B/1966-ferrari-275-gtb

 

Whoever brought Jon Shirley's old Daytona at Gooding got a dea! $480,000. Damn.

 

He always does well.

As a CPA don't you miss the old 1031 rules on cars? I'm assuming it could be close to 30% tax on profit with all of the various taxes and fees? Give us a lesson on how to avoid that to the full extent of the law please.

 

Today the best you can do is claim capital gains taxes and reduce gain by your basis. (I'm of the opinion occasional sales of valuable cars does NOT mean they are collectibles for tax purposes.)

 

Could it be that we’re past peak McQueen? Finally?

 

good that we not have in germany a capital gain tax for cars when you have them longer than 1 year

 

Cool!

 

Well……to pay it ya gotta report it….

 

Steve McQueen died in 1980, the 4 cam is a car that is over 50 years old. Many of the current crop of buyers aren’t in interested in either.

 

In my view the 2014 price was too high and perhaps the current price is more representative though if one looks at the full restoration Lost and Found car then one has wonder a bit more!

 

Plus they think we are talking about the Steve McQueen fashion guy...

 

Perhaps you’re thinking of Alexander….but there is a film director named Steve McQueen.

 

Ahah not sure but I only pay attention to fashion when a gf has expensive shopping wishes

 

Just a cursory review of Gooding’s results looks like a very high percentage either passed or sold for amounts right at or far below low estimate.

 

Exactly the point I made in another thread.

 

Even going so far as to drive this car on at least one 1000 mile vintage rally after the restoration. One of my heroes!

 

Malcolm truly is the genuine article. I'm proud to call him my friend.

 

I'd really like to see some media coverage on this so we could live through his deeds lol. I think he and some co-driver have driven across the country maybe six times in the 275 and Daytona and who knows what else? Might even make a good car guy book. I'm sure there are some stories in there. I heard something about a snow storm in Dallas? Last of a breed. Hard ass chargers. I thought I was after driving the old challenge race car 1000 miles one day. After a few of those that was enough. Iron men. They don't need no cialis...

 

Yeah, he is the real deal.

 

Based on this I would say no. This is a lot of scratch for a 305cc bike.

https://bringatrailer.com/listing/1968-honda-cl77-scrambler-2/