Legal Files

Risky Business

Drifting is perhaps the most exciting new auto-racing variant of the times. Propelled to stardom by the “Fast and Furious” movie series, drift fans can’t get enough of the sideways-sliding, rubber-burning spectacle. The problem has been finding appropriate venues for the sport. The first, and likely best, purpose-built drifting venue […]

Is It Time to Sell?

As most SCMers know, the collector-car market is way up, we are likely in a transition period for taxes, and we are getting older. All things end. Is it becoming the time to consider how we phase out of car collecting? Let’s consider the various forces that may or may […]

Giving Back

Hobby Lobby Stores Inc. was recently ordered to forfeit to the Iraq government a rare antiquity it had purchased for $1.7 million. The Gilgamesh Dream Tablet, a rare cuneiform tablet bearing a portion of the Sumerian epic of Gilgamesh, is considered one of the world’s oldest works of literature. It […]

GT Oh No

Bonhams sold Ferrari 250 GTO #3851GT at its 2014 Quail Lodge auction for $38,115,000, including buyer’s premium. It was a world-record sale — the highest price ever obtained at an auction. One would expect Bonhams’ staff and the seller to be high-fiving after the hammer fell. Instead, the seller sued […]

Sidestepping the Broker

This month’s “Legal Files” concerns a recent situation in which a friend bought a car that was listed in an online auction. Except that “Bob” didn’t win the auction; he wound up as the underbidder. The high bidder did not meet the seller’s reserve, however, and the auction was a […]

Your Registration is Canceled

One of the hot segments of the collector-car market is Japanese domestic market (JDM) vehicles. Previously not exported to the U.S., the popularity of JDM vehicles was spurred when the federal government relaxed import requirements for vehicles over 25 years old. A subset of the JDM category are “kei cars,” […]

What If CARFAX Got It Wrong?

SCM Publisher Martin stoked a lot of interest with his May 2021 “Shifting Gears” column that explained how important CARFAX has become to the collector-car market. We printed excellent letters from Donald Davret and David Preston concerning CARFAX and potential errors in its reports in the July 2021 issue. Subsequently, […]

Last Call for the Cunningham Corvette

The #1 Briggs Cunningham Chevrolet Corvette, raced by the Cunningham team in the 1960 24 Hours of Le Mans, sold for $758,500 at RM Sotheby’s Amelia Island, Florida, auction in May. The result was a bit of a disappointment, given the pre-auction estimate of $900,000 to $1.3 million, but the […]

Home Court Advantage

The world has gotten a lot smaller these days. Say you search the internet and find a nice-looking, numbers-matching 1964 Porsche 356SC advertised by a dealer 2,000 miles away. The car looks great, all the right boxes are checked, and there are 85 pictures of every nook and cranny. You […]

The Lost and Found Ferrari

The latest stolen-supercar story hit the news recently when U.S. Customs and Border Protection intercepted a stolen Ferrari F50 on December 14, 2019, at the Peace Bridge Port of Entry in Buffalo, NY. Alert CBP officers noticed that some of the rivets on the dashboard VIN plate were covered in […]