Quote:
Originally Posted by CosmicTrucker
tax deduction plus something cool for the garage
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Quote:
Originally Posted by Gary B
$350,000 PLUS 10% equals $385,000. This was a tax write off for Rick, being a charity auction car. I'm sure he'll get the first one LOADED out and sell it at a huge price to some rich business guy after it sits in his dealership for some attention.
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Actually guys I don't think the buyers won't get a tax deduction. Unless US tax laws concerning charitable donations are drastically different than most. The person/corporation that donated the vehicle will get a deduction, the buyer get's the vehicle. Since the person laying down the cash gets something in return (i.e. the car), they don't get the tax deduction.
Quote:
Originally Posted by Muscle Master
The 1st Dodge Challenger SRT8 was sold for $400,000 last year so big woop.......
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Yea... but then you'd own a Dodge.
But seriously, as a Camaro fan I was hoping to see it go for more that $350k, but I think all things considered this is a good price. Consider these facts:
- Challenger SRT8 sold last year for $400K. The financial crisis, economic down-turn and deflation over the past year makes up most if not all of the $50K difference. Just look at the average selling prices at B-J AZ this year.
- The ZR-1 sold for $1M last year, but really the "competative" bidding (if you can call it that) stopped at $900K. The starting MSRP of the ZR-1 is more than twice the MSRP for a 2SS/RS Camaro. Plus, there is going to be A LOT more Camaros produced than the ZR-1
- MAJOR down-turn in the economy. Don't underestimate this And yes, even the rich are affected.
All this being said, the charity auction values are always overstated due to their very nature. Either way - $350K for a worthy cause. Good job Rick
