GreenLantern

Oh, yes, you are right. Still, the rest of what I said holds.

But yes, you are correct. To be converted and registered in the US, there's more fees.

nuvolari612

It doesn't happen very often

I was cheering for mid 5's - many left the US when they were undervalued one non Porsche dealer claims shipping over 20. The only thing I can see holding them back is how many odometers have a 1 followed by three digits.

Any idea how many are currently in the US?

CGT000

It was not a euro spec car. It was originally sold in NY and the 2nd owner bought it and sent it to Canada. It was a US spec car.

nuvolari612

But in order to bring it back to the US or if it was purchased by a US citizen it would still add 2.5%. I think it's fair to put it in the books as a 500k sale considering it was sold in Florida.

CGT000

Novolari,

It depends on how you look at it. The seller did not realize $500k.

nuvolari612

Ok - so let's go back to reality.

A few posts back you stated a similar or perhaps the same one was worth 500k but could go up to 550.

Did you buy it? Is it the same car?

Personally I think the CGT should be considered along the same lines as an F50.

it has the same DNA yet the F50 is now worth multiples of MSRP.

GreenLantern

Yeah, again, I still stand by my statement that it's not a $500k sale. 2.5% is taxes. If you bought this car in CA (or are a CA resident planning to reg. it in CA), you'd have to pay 8 to 9% in sales tax. You can't ever count that as part of the sale price, nor the adjusted market value of the car.

(And thanks for the correction that it wasn't a Euro-spec car. I missed that in my haste, once I saw the mileage was noted in KM.)

GreenLantern

Except there were a total of 478 Carrera GT's that came to the US according to PCNA. (There may be less here now.)

A total of 349 F50's were supposedly produced worldwide (although, Ferrari has a habit of making slightly more, for their loyal customers). That's a significant number less than the number of CGT's that were produced, let alone what made it to the US.

nuvolari612

The mistake of the KM threw me off as well - imagine others who were interested may have backed off the car.

GreenLantern

Indeed.

Yellow CGT's tend to command a meaningful premium. I have no doubt that RM listing KM's only, and not spelling it out more clearly, turned off a few of buyers.

CGT000

Nuvolari,

Please read my old post again. I said in my opinion the car was worth $500k, less the cost of service, which would be $38K at minimum.
I stopped bidding at $420k.
I also agree with GreenLantern's opinion of not tacking on auctioneer's fees and taxes to the value of the car. In my opinion people should buy this car to enjoy driving it and not worry so much how much it would go up in value.

GreenLantern

As for the taxes/fees, no insurer will consider that as part of the agreed value, and neither should any of us.

nuvolari612

I understand all that but here is what you said.

Gentlemen. I have been offered a yellow one with 800 miles on it but the car has been sitting for a long time. It needs new tires, service, seal is leaking and clutch needs replacement. The cost for everything is close to $40K. Can someone give me an idea what the car is worth?

All I really was asking if that is the same car that went to auction and if so how were you getting it at 500k.

Agree these cars should be driven for many reasons but it's their money to do with what they wish.

CGT000

I hope whoever bought the car would truly enjoy it. I agree with you that it is their money to do what they wish.

smokeygt

CGT000, were you at the auction? If so, what was the hammer price?