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May 19
Columns | Legal Files | Sports Car Market
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Good Insurance Is Your Car’s Best Friend
  Last month’s “Legal Files” illustrated how loaning your car to another can wreak havoc at the highest levels. This month, we’ll explore some more mundane situations that can be equally unsatisfying. Let’s start with a pretty c...
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from the May 2013 Issue written by John Draneas
The $175k Missed Shift
Sports car racing driver David Piper (a former F1 driver who lost a leg below the knee in an accident driving a Porsche 917 during the filming of Steve McQueen’s 1971 film “Le Mans”) recently won an important case in The Royal Courts of ...
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from the April 2013 Issue written by John Draneas
Is It Time to Give Your Cars to Your Kids?
In the realm of estate planning, 2012 is either a once-in-a-lifetime tax-saving opportunity or the new normal. We won’t know which until after the November 2012 election — and maybe not until next year, after the new Congress has had time...
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from the November 2012 Issue written by John Draneas
Durham Found Guilty of Financial Fraud
Tim Durham (right) arrives at court in Indianapolis in June to hear the verdict in his trial Tim Durham started out as an attorney, then left practice for far greener pastures. Highly ambitious, he reportedly made millions through leveraged b...
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from the September 2012 Issue written by John Draneas
So You Want to Sell Your Car at Auction
Finding an auction company that meets your needs is one of the first crucial steps "Legal Files” recently wrote about the 1935 Mercedes-Benz 500K Roadster that German authorities seized on a claim that it had been stolen from Hans Friedrich P...
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from the August 2012 Issue written by John Draneas
Other States Sniping at Montana’s Magic Bullet
"Legal Files” has written several times about various techniques that collectors employ to avoid paying sales/use taxes on their collector cars. It’s a big deal, as the sales/use tax rates are typically 6% to 10% of the purchase price of t...
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from the July 2012 Issue written by John Draneas, Dale Spradling and John Bennett
Was this Mercedes War Booty?
In late March, Frans van Haren and Tony Paalman, Dutch car collectors and business partners, put their 1935 Mercedes-Benz 500K Roadster on display at the Techno Classica car show in Essen, Germany. The two men had bought the car, Lot 147, for...
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from the June 2012 Issue written by John Draneas
The FBI Crashes an F50—The Sequel
Legal Files previously reported about an incident where FBI agents crashed a Ferrari F50 that they had seized (SCM February 2010, p. 26). As amazing as that scene was, the same F50 has been in the news again, and now we know the rest of stor...
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from the July 2011 Issue written by John Draneas
Tim Durham: From Rags to Riches to Ripoff?
He is accused of using over $200m of investor funds to support a lavish lifestyle, including a 70-plus car collection For the past few years, Tim Durham was a well-known fixture at collector car auctions. Arriving on his private jet—and s...
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from the June 2011 Issue written by John Draneas
Special Tax-Planning Window for Car Collectors
2010 was a difficult year for tax planning. The federal estate and generation-skipping taxes were repealed, but the gift tax exemption was stuck at $1m to keep people from taking too much advantage. Plus, there was talk all year long about a...
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from the May 2011 Issue written by John Draneas
 
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