2010 was a difficult year for tax planning. The federal estate and generation-skipping taxes were repealed, but the gift tax exemption was stuck at $1m to keep people from taking too much advantage. Plus, there was talk all year long about a retroactive reimposition of both taxes. We saw an […]
You may avoid paying sales tax if you ship the car by common carrier to a non-sales-tax state “Legal Files” had a great time at the Scottsdale, AZ, kick-start to the 2011 auction season. Auctions are a popular place to buy your collector car. But to ensure that you are […]
Internet buyers think that when the car doesn’t meet their fantasy image they can return it for a full refund, just like sale pants at Nordstrom’s 1940 Ford Deluxe Convertible. Just redone by a well-known local shop. Beautifully restored with no expense spared. All aspects are correct and highly-detailed. Undercarriage […]
It’s not a good day when your mechanic calls and says, “Uh, I’m not sure how to say this, but I had a little accident with your car.” It’s even worse when your car is a 2006 Ford GT Heritage that had been modified to a “Twin Turbo.” (On the […]
The High Court in London has recently given judgment in the case of Brewer vs. Stanley Mann, Fortis Lease UK Limited and Stanley Mann Racing Limited. The judgment emphasizes the importance of accuracy when giving sale descriptions of collector cars. The judge’s finding, heavily in favor of the private buyer […]
In many cases, insurance adjusters say that all they are required to do is fix the damaged parts, which can create a non-matching Frankenstein car Pictures of a McLaren F1 that suffered an engine fire were all over the Internet last year. It was an ugly sight—and saddened every car […]
The epic legal battles over a stolen 1954 Ferrari 375 Plus Grand Prix Karl Kleve was a Cincinnati real estate investor who amassed an impressive collection of over 400 cars. He also designed and built 24 Kleve Supercars. Among the Cadillacs, Rolls-Royces, Kleves and Bugattis was a 1954 Ferrari 375 […]
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 […]
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 […]
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 […]
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