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Ferrari Financial Services Signs on for Three Year... » Gooding & Company, the acclaimed auction house celebrated for selling the world’s most significant and valuable coll...
Carmel-by-the-Sea Concours on the Avenue 2012 Appl... » Applications are now available for Carmel-by-the-Sea, the most recent addition to the prestigious group of events that m...
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Feb 18
Columns | Legal Files | Sports Car Market
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The FBI Crashes an F50—The Sequel
Legal Files previously reported about an incident where FBI agents crashed a Ferrari F50 that they had seized (SCM February 2010, p. 26). As amazing as that scene was, the same F50 has been in the news again, and now we know the rest of stor... [read more]
from the Friday, 01 July 2011 Issue 		John Draneas
Tim Durham: From Rags to Riches to Ripoff?
He is accused of using over $200m of investor funds to support a lavish lifestyle, including a 70-plus car collection For the past few years, Tim Durham was a well-known fixture at collector car auctions. Arriving on his private jet—and s... [read more]
from the Wednesday, 01 June 2011 Issue 		John Draneas
Special Tax-Planning Window for Car Collectors
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 The federal estate and generation-skipping taxes were repealed, but the gift tax exemption was stuck at $1m to keep people from taking too much advantage.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... [read more]
from the Sunday, 01 May 2011 Issue 		John Draneas
Plan Ahead Before Bidding
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 ca... [read more]
from the Friday, 22 April 2011 Issue 		John Draneas
Long-distance Car Deals Can Burn Money
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 wi... [read more]
from the Friday, 15 April 2011 Issue 		John Draneas
Who Pays When a Mechanic Crashes your Car?
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.... [read more]
from the Wednesday, 22 December 2010 Issue 		John Draneas
When is a Bentley Speed Six Not a Speed Six?
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 c... [read more]
from the Wednesday, 22 December 2010 Issue 		Martin Emmison
A McLaren F1’s Rise from the Ashes
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 carPictures of a McLaren F1 that suffered an engine fire were all over the Internet last year. It was ... [read more]
from the Thursday, 28 October 2010 Issue 		John Draneas
Stolen Property
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, Rol... [read more]
from the Thursday, 28 October 2010 Issue 		Auction News
The Legal Battle over John O’Quinn’s Million-Dollar Cars
He paid world-record prices for some of the world’s rarest automobiles, and he often bought several high-end cars in a single weekendHere’s a car story that has all the ingredients of a soap opera:  A billionaire dies in a car crash, an... [read more]
from the Thursday, 28 October 2010 Issue 		John Draneas
 
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