Holding onto the certificate of title until you get paid is no legal protection. Once the buyer pays the broker, that certificate of title is worthless
The Oregon Court of Appeals recently decided a case of interest to car collectors. The case involved a 29-foot Sea Ray boat, but the legal principles apply equally to collector cars.
The boat’s owner, a supervisor at a title and escrow company, kept the boat moored Read More
The judge started his opinion by pointing out that his “analysis will be swifter than Richard Petty’s race-clinching pit stop at the 1981 Daytona 500”
Here is an unlikely case of Car Guy v. Car Guy, brought, it just so happens, before a car guy judge. It’s the story of a race car owner and race car driver who had been a winning combination for many seasons. Somewhere along the way, it Read More
He learned that the broker and seller were going to be in Monterey that
August, so he made arrangements to serve them both at The Quail
About two years ago, a Los Angeles SCMer contacted “Legal Files” hoping for advice about how to get his money back after a long-distance Ferrari deal went bad, very bad.
“Ed” thought he had done everything right. He had become seriously interested in a 1953 Read More
If the winds were unforeseeable, they would be considered an act of God, and neither the auction nor tent company would be liable for damages
Who would have thought that the wind could blow so hard? That turns out to be the multi-million-dollar question in Scottsdale.
The big story from this year’s Arizona auctions was not the market, but the weather. What was called the worst storm in 40 years-with estimated 80-mph Read More
Maybe, if you have a valid out-of-state title for a modern kit car and can get an SB 100 “free pass”-but don’t try it with a “Born-Again” post-1967 Mini
Legal Files” was recently contacted by an SCM subscriber who thought the current economic climate made this the right time to buy a replica 1965 Ford GT40 and had found a nice one at an acceptable price. The car was originally titled in Read More
It’s pretty easy to conclude that the FBI should have hired a towing company. That the car was wrecked proves the agent was incapable of driving it
We all know that federal, state and local governments have broad powers to seize assets from drug dealers and other persons suspected of crimes. Lately, there have been a number of seizure situations involving valuable cars that have gained widespread media attention.
In today’s Read More
Police return Hallingby’s seized Ferrari; he files a $5 million lawsuit against magazines whose advertisements described it as stolen
The December 2008 “Legal Files” reported that 1958 Ferrari 250 PF Cabriolet s/n 0799GT was seized by the Connecticut State Police from the garage of noted car collector and long-time SCMer Barney Hallingby. On October 2, 2009, the Connecticut Superior Court of Littlefield County ordered the Ferrari be returned to Hallingby, described in Read More
The seller thought it was enough that the engine was the correct type, built the same time as the Camaro, and that its present number matched the VIN
The market places a substantially higher value on “numbers matching” cars, especially in these challenging times. Collectors want the best.
Here’s a quick description of what “matching numbers” means. In addition to stamping a unique identifying number on each chassis (its VIN), Read More
The court ruled the buyer had opportunities to inspect the car before buying it and to call the seller to ask about the car, and chose to do neither
Suppose you have a not-so-nice collector car you want to sell for big bucks. Your best shot might be to list it on eBay or some other Internet web site. Here are some tongue-in-cheek tips about how to maximize your chances of cashing Read More
We are addressing provenance created by the owner after a car’s acquisition, and whether the costs involved can be used to reduce the gain on the sale
Many collectors are selling cars they have owned for several years, often for substantially more money than they paid for them. In many cases, they purchased these cars years ago when they weren’t particularly sought after or valuable, usually because they just liked the cars Read More