CRG Discussion Forum

Camaro Research Group Discussion => General Discussion => Topic started by: 69Z28-RS on January 05, 2018, 04:55:24 PM

Title: Pair of ZL1 COPO's... at Auction.. :)
Post by: 69Z28-RS on January 05, 2018, 04:55:24 PM
For the well-heeled Camaro lovers....   auction estimate $1.1M...  :)

https://www.hemmings.com/blog/2018/01/05/mecum-to-offer-a-pair-of-zl1-copo-camaros-as-a-single-lot/?refer=news
Title: Re: Pair of ZL1 COPO's... at Auction.. :)
Post by: BULLITT65 on January 05, 2018, 06:10:05 PM
I read the 1.1M to be the reserve, not the estimate?

Either way it is going to take some deep pockets to own them. I doubt it will sell as a complete lot. You are into Cobra or Ferrari money at that point, and I don't think people put Pony cars on that level. (even 2 of them) Just my 2 cents
Title: Re: Pair of ZL1 COPO's... at Auction.. :)
Post by: jdv69z on January 05, 2018, 07:48:35 PM
I didn't know that they disclosed the reserve?
Title: Re: Pair of ZL1 COPO's... at Auction.. :)
Post by: BULLITT65 on January 05, 2018, 08:05:09 PM
The Hemmings article said
"Mecum’s online catalog lists the pre-auction estimate at $1,250,000 to $1,750,000, making this a sale for the most serious and well-heeled of muscle-car collectors. In an unusual move that we applaud for its transparency, Mecum also lists an “announced reserve” of $1,100,000, giving a very clear and distinct floor to what it will take for this pair of pedigreed muscle cars to find a new home."

So they are estimating high, but did reveal the reserve so nobody thinks of getting these under a Mill.
Title: Re: Pair of ZL1 COPO's... at Auction.. :)
Post by: bcmiller on January 05, 2018, 08:30:25 PM
 A bit too pricey for most.  Definitely too pricey for me.

Just put a stroked 454 with some goodies in it - and you can be faster than those cars with any ‘ole Camaro.
Title: Re: Pair of ZL1 COPO's... at Auction.. :)
Post by: Kelley W King on January 05, 2018, 08:31:00 PM
Well IF I was, at least I would know whether to show up or not.
Title: Re: Pair of ZL1 COPO's... at Auction.. :)
Post by: hgger69 on January 05, 2018, 09:19:09 PM
Read of them before, isn't Gas Monkey and RR the sellers?  ::)
Title: Re: Pair of ZL1 COPO's... at Auction.. :)
Post by: maroman on January 05, 2018, 10:30:38 PM
I would think it's hard enough to get top dollar for one car let alone two.
Title: Re: Pair of ZL1 COPO's... at Auction.. :)
Post by: BULLITT65 on January 05, 2018, 11:00:22 PM
I would think it's hard enough to get top dollar for one car let alone two.
X2
Title: Re: Pair of ZL1 COPO's... at Auction.. :)
Post by: cook_dw on January 12, 2018, 03:03:30 PM
Sold $1.21M
Title: Re: Pair of ZL1 COPO's... at Auction.. :)
Post by: jdv69z on January 12, 2018, 03:36:37 PM
Never ceased to be amazed by how much money is out there, or is it debt??  ???
Title: Re: Pair of ZL1 COPO's... at Auction.. :)
Post by: 69Z28-RS on January 12, 2018, 03:48:21 PM
Wow...  and if the buyer keeps them together until he sells them as a pair, he'll probably make $$ too...
Title: Re: Pair of ZL1 COPO's... at Auction.. :)
Post by: motorman on January 24, 2018, 04:31:54 PM
the buyer most likely had a big capital gains tax to pay and now since he reinvested the money in a collector car he skips the capital gains taxes for now.  it is like the charity auctions all the money over the list price they pay is tax deductible.
Title: Re: Pair of ZL1 COPO's... at Auction.. :)
Post by: 69Z28-RS on January 24, 2018, 05:07:43 PM
the buyer most likely had a big capital gains tax to pay and now since he reinvested the money in a collector car he skips the capital gains taxes for now.  it is like the charity auctions all the money over the list price they pay is tax deductible.

For that to happen, it needs to be a 'like kind' exchange...  ie.  the capital gain he's deferring tax on would have to have come from selling *another collector car' for the tax to be deferred based on buying another collector car...  in other words, he can't defer tax on a capital gain made in the stock market by purchase of a collector car...