Photo courtesy of Mecum Auctions
“I just think it’s absolutely ludicrous the attention a collection is getting when someone buys a bunch of Ferraris and sticks them in a garage and doesn’t drive them and makes a fortune selling them because (drumroll, please…) nobody drove them!”
Fraud-Proofing
Regarding your article about collector car fraud (“Legal Files,” May 2026, p. 48), what may be a partial solution is what homeowners do when contracting for home improvements.
What I suggest is a version of what the Contractors State License Board recommends in California. First, don’t give the shop more than 10% of the agreed price for the project. Next, agree to give more money when certain tasks are completed. Finally, pay the balance of the total amount after completing the job and the car has passed the customer’s inspection. What do you think? — John Motroni, via email
SCM Contributing Editor John Draneas responds: That’s the right tack to take. The money should not get very far ahead of the work. It takes some technical skill and art to identify the waypoints and the amounts to be paid, and you need to have a mechanism for changes in the contract amounts as additional problems are discovered. But what else would be better?
You should also have a 10% or so retainage that doesn’t get paid until the very end to provide some cushion.
Little Clues
The article on fraud reminded me of my own experience with CPR Classic. Several years ago, I was looking for a Porsche 964 RSA. They had a black one on their site. Lowish miles, great condition, etc. I called about the car. “Sold,” I was told.
Months later it was still on the site. I was again told it was sold. The car was on their webpage for well over a year and I remember thinking it rather strange that a dealer would continue advertising something it didn’t have.
Seems like there are always clues, even little ones, when things aren’t right. — Greg James, Mercer Island, WA
Attention Surplus
In reference to your article on the Bachman Collection (“Collecting Thoughts,” May 2026, p. 42), I am sickened by the amount of coverage in all the car magazines about the sale of cars from this collection. It’s ridiculous.
I don’t have sour grapes for not being a billionaire, I just think it’s absolutely ludicrous the attention a collection is getting when someone buys a bunch of Ferraris and sticks them in a garage and doesn’t drive them and makes a fortune selling them because (drumroll, please…) nobody drove them!
These people are being rewarded for doing absolutely nothing other than opening a checkbook.
Why would any true car enthusiast be interested in hearing about this? Do I have to say the obvious? “The cars are made to be driven.” — Dr. Mitch Josephs, DMD, Palm Beach, FL
Mind Games
Almost every time when I get the new issue and read it cover to cover, when I get to the “Mystery Photo,” my brain lights up with a caption the moment I see it. I just love this.
It’s nice if mine gets selected, and very much appreciated, and I love reading the other entries as well. But this is always such a fun mind exercise every month. Blessings and thanks for that — and for so many years of always putting out, every issue, such a superb, detailed and information-rich publication. — Bruce W. Jenett, via email
Oops
I am pretty sure that I won’t be the only one to bring this to your attention. On page 70 (“Market Overview) of the May 2026 edition of SCM, the sentence “Gooding nearly quadrupled the average sale price to $957m this year…” Now that must have been quite a sale! Petty sure that the average sale price was $957k. — Jon Bernheimer, Rockville, MD
Errata
We apologize for omitting Scott & Natalie Bluestein and their 1958 Aston Martin DB2/4 from the SCMers at The Amelia Concours in the June 2026 issue.
Leave a Reply