Not included, auctions typically show the hammer price, not the "take it home price". Also, to arrive at a nice, round 52K "take it home price", the auction price would have had to have been 38 518.50 + 12.5% buyers premuim = 43 333.31 + 20 % VAT = 52 000 Very unlikely the auction ending at 38 518.50 pounds to give a nice round 52K including VAT So the "take it home price" would have been around 70,200 gbp,
I am not sure that the estimation of the total selling price is that simple. The car was shown as Unsold for a few days so it was likely a negotiated sale after the auction and probably involving some horse trading on the commissions. A bit of googling suggests that there would be no VAT payable if the seller was a private person or, if a dealer, VAT is only payable on the profit taken in the transaction as it is a U.K. car (but VAT is probably payable on the auction house fees). If it had been imported, VAT is payable on the import price. Maybe a Brit can confirm if this is correct or not. If correct, the total will be a lot lower than GBP70,200. Regards WM
Hi Bill You may be correct, as you say it's not that simple, it appears the VAT depends on the circumstances of the seller https://www.gov.uk/government/publications/vat-notice-7182-the-vat-auctioneers-scheme/vat-notice-7182-the-vat-auctioneers-scheme. M
Here are 3 more 412's for sale in the UK and the price range is all over the place! 1986 FERRARI 412 for sale | Classic Cars For Sale, UK
Most cars for sale at auction are already VAT paid, so when the hammer falls, you pay just the hammer price, the auctioneers commission, and the VAT on the commission figure. So in this case, if the hammer price was indeed GBP 52k, the total paid by the purchaser would have been just below GBP 60k. It is more complicated if the car is a fresh import to the UK for which no VAT has yet been paid, but that is rare.
Which needed a bit of work. Thought I could snip it, but it went to auction (in Melb last night) before I could check it out thoroughly, and before I could think up an excuse that my wife would accept. I was looking somewhere south of $30K, thought it might get $40K+ at auction - it went for $76K.
How about this project instead... The only 400 convertible conversion in Australia, I believe. Converted in the 1980s. Damaged 1982 Ferrari 400i Automatic Coupé For Auction in Bridgewater, Hobart, Tasmania ? Manheim Salvage Auctions
Not sure the link is still live - so here are some pics I downloaded earlier. There were no interior shots unfortunately. It didn't look that bad. Wonder what happened to it - and the missing bits. Serial number is 17823. Original Aus delivery. Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login
The new owner just reported himself on the known FB group: https://www.facebook.com/groups/8727831092/
This car came from WA. Roof blew off at 70kph. Interior leak tested by installing water hose and turning the tap on, door seals good but leaks round the hood! Won't start or turn over - maybe the engine internals were water tested too! Has the latest in hydrodamped instruments. Was purchased as a wedding car and presume it was not a money spinner so now an insurance sale. In your price range Ferraridoc, and many more challengers than your current project, but I am sure you are up to it. Nice fat reserve. Expect it to come up for auction a few times before the reserve gets realistic. Can't see this as a worthy addition to my garage, sorry fellas.
Wouldn't listen to anything under $20K and looking for better than $25K. I understood the car was purchased for considerably more than that ($40K+) from WA and it had issues then. The lovely wheels gives some indication. As it can't be driven, cost to jump the pond will be significant. $5K for a truck or $2K for trailer.
Al,I've just got off the phone to Jordan Roddy(I'm sure he won't mind me posting this as he's joined Fchat),the bloke who won the 365 in Smelbourne. He's looking for some bits and may try to contact you,if he hasn't already.
Very good! Curious though, did he say why he purchased this car? It's not the kinda car you want to buy as a project car as we are all well aware how hard some of these parts are to find these days. And being his first Ferrari too, it's rather unusal. But still great to see a younger chap having a go.