Author: John Draneas

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.

Legal Traps for the Unwary Seller

They say that all good things come to an end — and now it’s time to sell your collector car. While it may seem like an easy thing to do, there are a lot of potential legal land mines waiting for you when you become a collector-car seller. Auctions The […]

Making Old Cars Safer

You’ve probably seen news reports about comedian Kevin Hart’s car crash and his extensive injuries. Despite Internet reports that all involved have “lawyered up” and that a “lawsuit’s almost certain,” we haven’t seen an actual lawsuit filed. Maybe it’s getting filed as you read this, but the lack of a […]

From Auction House to Courthouse

Falcon Woods LLC, a Nevis, West Indies, limited-liability company, was about to cut a fat hog. It had consigned its 1954 Ferrari 250 Europa GT coupe, chassis number 0379GT, to Gooding & Company for its 2018 Scottsdale auction. The estimated sales price for Lot 116 was $1.6m to $2m. Just […]

Trailer Insurance Woes

SCMer Lee Cross, a Shelby enthusiast who organizes the annual GT350 Tour, shared a very interesting story: I am passing along an incident as something that might present a topic with wide relevance to your audience; i.e., the legal technicalities that arise when a collector attaches a trailer to their […]

When a Friend Crashes Your Car

You’re a trusting soul — a nice guy. Your best friend Tom tells you how disappointed he is that his Ferrari is in the shop for an extended stay and he has to miss the next Ferrari Club weekend drive. You have already agreed to spend that weekend with your […]

Auction Wars in Scottsdale

Leake Auction Company has big plans for its first-ever auction in Scottsdale, AZ, in January 2020. But the welcome mat is not out. Immediately upon announcing its new auction, Leake got hit with a lawsuit filed by Russo and Steele alleging interference with contractual relations. Of course, Leake knew it […]

Menacing the Highways

Before you read any further, let me make one point crystal clear — this column has absolutely nothing to do with the SCM 1000 Tour. Feel free to participate. I’m going. At the other end of the spectrum, participants in the Eurorally 2019 were met with a huge surprise as […]

Where Should Your Cars Live?

As Baby Boomers ease into retirement, they are becoming a very mobile generation. Many are migrating to other states, not just in search of a sunnier climate — but also for tax planning considerations. We’ve just seen federal income tax rates drop to historic lows, with ordinary rates peaking at […]

The Stealth Claim

Legal Files” has written many times about the concept of diminished value — where even a perfectly repaired car is still worth less than it was before the damage occurred. This month, I’m enlisting the help of Mike Shoemaker, a Houston-based attorney who conducts a national practice representing car and […]

New Tax Opportunities

Collectors lamented that the 2017 Tax Cuts and Jobs Act eliminated our ability to do 1031 Exchanges with our collector cars. After 2017, 1031 Exchanges are limited to real estate. This also means that doing a straight exchange with a car dealer doesn’t work either. That is, going to a […]