I won a Bumblebee Camaro from GM sweepstake! - Page 22 - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

ocolgan · 03-30-2009, 10:12 AM

Why did mc69 seem to think that they would not sign if I was selling.

LadiesMan217 · 03-30-2009, 10:23 AM

Quote:

Originally Posted by ocolgan

Why did mc69 seem to think that they would not sign if I was selling.

Most actors, actresses, sports figures, etc. will not put their autograph on anything if they know it's for personal gain.

Think about it...would you want to sign something for a stranger if you knew that that stranger was going to just turn around and sell it to make a profit?

If they think it's for personal reasons, they're more apt to do the favor of signing.

Here is an example:

Tom Brady's autograph is worth a lot of cake. You rarely see him at autograph signings unless it's for a benefit or charity auction. I saw someone walk up to him and get his autograph willingly. The only reason he signed it is because of what it actually was that he was signing. The guy had a blanket with most of the winning Super Bowl Patriots' autographs on it. He was missing two. Tom Brady was one. Normally, he wouldn't sign something like this because he'd figure that once it was complete, the guy would just sell it...but it was a quilt with an image of his daughter on it...and in that picture...the baby was laying on a baby-blanket that said, "New England Patriots - Super Bowl Champions". The baby was born on Super Bowl Sunday.

Tom Brady knew that this guy wouldn't sell this. He probably COULDN'T sell it because who would want a picture of some stranger's baby?

Most of the time, big celebs need to know that it means something more than money.

ocolgan · 03-30-2009, 10:44 AM

I guess you are right I have just worked so damn hard all of my life that I believe winning this car is a blessing.

I really need to help my mother she is past retirement and still working full time to make it. She has always been there to help everyone and I really believe she should be able to take it easy for the rest of her life.

SWHCPA · 03-30-2009, 11:00 AM

Quote:

Originally Posted by ocolgan

I do have to file a 1090 on 40000.00 in 09. I can sell it, if I want to for more than the 6000.00 dollars in taxes.

Don't know if this has been addressed or not; however, you don't file anything. You'll have to complete a W-9 form for the contest sponsor (might be in your eligibility packet) so they can complete a Form 1099 and submit it to the IRS reporting the winnings. If you take delivery in Jan 2010, it will be a taxable event for you in 2010 and you'll have until 4/15/2011 to pay the taxes due at your effective rate on that tax return. Also, remember that you're responsible for all state sales taxes, license/registration fees, XM subscriptions, etc. at the time of delivery. Given that you'll be well "in the money" on the value to any loan, you can probably get a GMAC financing package to cover the income and all other taxes/costs and have a pretty low payment.

All this said, this does not constitute tax advise. You should consult your own tax professional to determine your actual impact/exposure.

Evilkosh99 · 03-30-2009, 11:20 AM

Ok -- a couple things -- first off, I would try to get more specific details from GM exactly which car you are getting -- from your descriptions (and the wording that GM could use as an "out" in the letter to you), I am not sure whether you are getting one of the 3 original bumblebees, or a camaro that has been "substituted" for the value of what you won. This could probably affect what you would get through auction (I'm not an expert so I don't know how much). If you can confirm that GM is going to give you a camaro that is being substituted in value -- try to find out what you can about the VIN -- is it going to be an early run # or have any special numbering to distinguish it?

In terms of actors/actresses signing it -- it really all depends on the individual and how you are able to contact/communicate what you are trying to do -- if they are decent people and you explain you are trying to help your mom out, then I don't really think it should be a big deal for them to sign knowing what you're trying to do. If, though, they did think you were just gonna sell it to get rich, then I could understand their hesitation in signing.

Congrats and good luck -- and just remember to take it slow, do all your homework, and remember that at the end of it all (after the sale and taxes, etc.) you'll still have something to maybe help mom out!

ocolgan · 03-30-2009, 11:25 AM

That is great advice and you are absolutely right. I will be taking delivery of the car 05/06/2009 so will have to claim it on my 2010 taxes. No sales tax in NH and I believe it comes with 1 year safe and sound and XM but I am responsible for license and registration fees.

Elvisuperman · 03-30-2009, 11:28 AM

V6 or V8, auto or stick, who cares man...It's a free Camaro...its a win win situation!

Congrats.

ocolgan · 03-30-2009, 11:32 AM

When I spoke with John Fitzpatrick he told me that the car will have special pin stripping and special stitching and I asked him if it was in the seats and he said it would be a surprise.
He told me exactly what to order for the car and really the only options I was given was manual or auto and sunroof or not.
I did also ask him about the vin# and he said that there was no special # for these 3 cars.
Thanks for all of the help so far you guys are great and this is a great forum.

Evilkosh99 · 03-30-2009, 11:43 AM

It sounds like they are substituting a new camaro for the prize but adding special distinguishing touches to make it unique. It is probably easier for GM to do this and allow you to get the standard warranty that comes with all new camaros as you won't have uniquely different mechanical components -- the changes are more to the aesthetics. If you can confirm that, then that all becomes part of your story if you were to auction it off. With the GM distinguishing touches and if you can get the signatures, I'm sure at auction you could get more for the vehicle than a stock one would cost you -- I just don't know how much more.

LadiesMan217 · 03-30-2009, 12:04 PM

Quote:

Originally Posted by ocolgan

When I spoke with John Fitzpatrick he told me that the car will have special pin stripping and special stitching and I asked him if it was in the seats and he said it would be a surprise.
He told me exactly what to order for the car and really the only options I was given was manual or auto and sunroof or not.
I did also ask him about the vin# and he said that there was no special # for these 3 cars.
Thanks for all of the help so far you guys are great and this is a great forum.

Something tells me that the "SS" will be substituted for an Autobot symbol (as well as the "CAMARO" on the steering wheel).

ocolgan · 03-30-2009, 12:13 PM

That would be awesome to see those types of upgrades. 5 weeks left until I drive the Bumblebee home.

Xanthos · 03-30-2009, 12:16 PM

Quote:

Originally Posted by ocolgan

That would be awesome to see those types of upgrades. 5 weeks left until I drive the Bumblebee home.

I can't wait to see it!

- Xanthos

ocolgan · 03-30-2009, 12:22 PM

It has been a while I have been really busy trying to build up my business and things are pretty comfortable with it now just have to play a little catch up with $$$$.

I will take a ton of pics and they are all going right here on this thread because all you guys are been so helpful and supportive.

Thanks

O2BQIK · 03-30-2009, 12:28 PM

I hope I'm wrong for your sake, by my feeling is that the car you're getting will not be worth much more than a regular 2010 Camaro. The signatures will be great, but I just don't see that being worth $200K as someone suggested. My feeling is that it could get you between $5000 and $10000 above the MSRP. But hey, it's still free!

03-30-2009, 11:20 AM	#299
Evilkosh99 Drives: 2010 Black SS/RS Join Date: Oct 2008 Location: Florida Posts: 148	Ok -- a couple things -- first off, I would try to get more specific details from GM exactly which car you are getting -- from your descriptions (and the wording that GM could use as an "out" in the letter to you), I am not sure whether you are getting one of the 3 original bumblebees, or a camaro that has been "substituted" for the value of what you won. This could probably affect what you would get through auction (I'm not an expert so I don't know how much). If you can confirm that GM is going to give you a camaro that is being substituted in value -- try to find out what you can about the VIN -- is it going to be an early run # or have any special numbering to distinguish it? In terms of actors/actresses signing it -- it really all depends on the individual and how you are able to contact/communicate what you are trying to do -- if they are decent people and you explain you are trying to help your mom out, then I don't really think it should be a big deal for them to sign knowing what you're trying to do. If, though, they did think you were just gonna sell it to get rich, then I could understand their hesitation in signing. Congrats and good luck -- and just remember to take it slow, do all your homework, and remember that at the end of it all (after the sale and taxes, etc.) you'll still have something to maybe help mom out! __________________ Black on Black 2SS RS is here

03-30-2009, 11:28 AM	#301
Elvisuperman TCB Drives: 2009 Chevrolet Malibu LT Join Date: Feb 2009 Location: Canada Posts: 137	V6 or V8, auto or stick, who cares man...It's a free Camaro...its a win win situation! Congrats. __________________ GM Forever!

03-30-2009, 11:43 AM	#303
Evilkosh99 Drives: 2010 Black SS/RS Join Date: Oct 2008 Location: Florida Posts: 148	It sounds like they are substituting a new camaro for the prize but adding special distinguishing touches to make it unique. It is probably easier for GM to do this and allow you to get the standard warranty that comes with all new camaros as you won't have uniquely different mechanical components -- the changes are more to the aesthetics. If you can confirm that, then that all becomes part of your story if you were to auction it off. With the GM distinguishing touches and if you can get the signatures, I'm sure at auction you could get more for the vehicle than a stock one would cost you -- I just don't know how much more. __________________ Black on Black 2SS RS is here

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03-30-2009, 10:12 AM	#295
ocolgan Drives: 04 silverado 2500 hd/09Bumbleb Join Date: Sep 2008 Location: Campton nh Posts: 103	Why did mc69 seem to think that they would not sign if I was selling.

03-30-2009, 10:44 AM	#297
ocolgan Drives: 04 silverado 2500 hd/09Bumbleb Join Date: Sep 2008 Location: Campton nh Posts: 103	I guess you are right I have just worked so damn hard all of my life that I believe winning this car is a blessing. I really need to help my mother she is past retirement and still working full time to make it. She has always been there to help everyone and I really believe she should be able to take it easy for the rest of her life.

03-30-2009, 11:25 AM	#300
ocolgan Drives: 04 silverado 2500 hd/09Bumbleb Join Date: Sep 2008 Location: Campton nh Posts: 103	That is great advice and you are absolutely right. I will be taking delivery of the car 05/06/2009 so will have to claim it on my 2010 taxes. No sales tax in NH and I believe it comes with 1 year safe and sound and XM but I am responsible for license and registration fees.

03-30-2009, 11:32 AM	#302
ocolgan Drives: 04 silverado 2500 hd/09Bumbleb Join Date: Sep 2008 Location: Campton nh Posts: 103	When I spoke with John Fitzpatrick he told me that the car will have special pin stripping and special stitching and I asked him if it was in the seats and he said it would be a surprise. He told me exactly what to order for the car and really the only options I was given was manual or auto and sunroof or not. I did also ask him about the vin# and he said that there was no special # for these 3 cars. Thanks for all of the help so far you guys are great and this is a great forum.

03-30-2009, 12:13 PM	#305
ocolgan Drives: 04 silverado 2500 hd/09Bumbleb Join Date: Sep 2008 Location: Campton nh Posts: 103	That would be awesome to see those types of upgrades. 5 weeks left until I drive the Bumblebee home.

03-30-2009, 12:22 PM	#307
ocolgan Drives: 04 silverado 2500 hd/09Bumbleb Join Date: Sep 2008 Location: Campton nh Posts: 103	It has been a while I have been really busy trying to build up my business and things are pretty comfortable with it now just have to play a little catch up with $$$$. I will take a ton of pics and they are all going right here on this thread because all you guys are been so helpful and supportive. Thanks

03-30-2009, 12:28 PM	#308
O2BQIK Drives: 1991 Camaro RS Join Date: Mar 2009 Location: Dallas area Posts: 596	I hope I'm wrong for your sake, by my feeling is that the car you're getting will not be worth much more than a regular 2010 Camaro. The signatures will be great, but I just don't see that being worth $200K as someone suggested. My feeling is that it could get you between $5000 and $10000 above the MSRP. But hey, it's still free!