Do Your Homework Before Bidding

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A recent Federal District Court decision in Illinois should be of serious concern to auction bidders. If it stands, we might all have to take a full coterie of mechanics and consultants with us to each auction.

Our plaintiff, “Ted,” was a successful bidder at a 2011 auction. (“Legal Files” won’t identify the auction company because, as will be explained later, it isn’t particularly unique in this regard.)

Ted purchased a 1967 Corvette 427/435 coupe at a hammer price of Read More

John Draneas

SCM Columnist

John practices law in the Portland, OR, suburb of Lake Oswego, where he focuses on tax and estate planning, business organizations and transactions, and representation of collector-car owners. He is a past president of the Oregon region of the Porsche Club of America and served as the chairman of the PCA’s 2006 parade. His collection includes two Porsches, a Ferrari, an Alfa, a Lotus, a BMW daily driver, a John Deere tractor — and one increasingly famous Jaguar E-type. This month’s “You Write, We Read” on p. 20 is full of SCMer advice on whether Draneas should restore his Jag.

Posted in Legal Files

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