Legal Files

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 […]

Jerry Seinfeld Sued Over ’58 Speedster Sale

Alawsuit has been filed against Jerry Seinfeld, alleging that the 1958 Porsche Speedster he sold for $1,540,000 at the March 2016 Gooding & Company Amelia Island Auction is a fake. Seinfeld politely and sensibly declined to comment on the litigation, as one would expect, so we have to rely upon […]

Corvette Litigation Hits the Finish Line

After five years of “Legal Files” columns about this case (December 2013, p. 40; January 2014, p. 42; September 2015, p. 73), the legal battles over the #1 Cunningham Corvette seem to have come to an end. On December 21, 2018, Porter County Indiana Superior Court Judge Jeffrey W. Clymer […]

The Other Side of the Stolen Ferrari Case

Recently, “Legal Files” wrote about the end — or perhaps temporary cessation — of the litigation involving Barney Hallingby’s 1957 Ferrari 250 GT (October 2018, p. 50). The Ferrari was once the property of Andreas Gerber and Bernhard Friedli. They claimed that it was stolen in Spain in 1991. Friedli […]

What Could Possibly Go Right?

If you are a lawyer who works in the collector-car field, you get a lot of clients who are disappointed with cars they purchased from Internet ads. They aren’t all stories with unhappy endings, but they are a treasure trove of legal work. A recent victim, “Frank,” purchased a Porsche […]

Limited-Edition Supercars Tempt Trouble

Recently, 24 Champion Porsche customers were shocked to discover that the approximately $2.5 million they had given to Champion as deposits on 911 GT3RS cars and other highly-allocated Porsche supercars was stolen — and no cars were ordered. Actually, the problem was that they didn’t give the money to Champion […]