He paid world-record prices for some of the world’s rarest automobiles, and he often bought several high-end cars in a single weekend
Here’s a car story that has all the ingredients of a soap opera: A billionaire dies in a car crash, and his longtime girlfriend is left out of his will. He owned hundreds of cars worth millions of dollars—and owed millions of dollars. To cap it off, all this turns into a high-stakes Read More
Our sister publication, Corvette Market, reported the sale of a 2007 “Jay Leno Special Edition” Corvette at the Barrett-Jackson Palm Beach auction in April. The well-optioned, 1,873-mile Corvette was in show-car condition. Leno reportedly “handpicked” the car from a Carson, California Chevrolet dealer. The Corvette was autographed on the valve cover by Leno, carried Jay Leno signature exterior badging and a laser-inscribed Jay Leno dash plaque.
The lot also included a selection of Jay Leno Read More
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
Continuous History Car vs. Original Component Car? You decide
In a perfect world, every historic car would boast a spotless provenance and a documented list of distinguished owners, none of whom ever “abused” the car by changing a major component, let alone by crashing it. The real world is different. Witness competition cars, which in their heyday were used very hard and crashed frequently. The urgency then was to get it to 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