Theseus’ Paradox – Rebodies, Replicas & Tampered Numbers; an Automotive Identity Crisis
Greek historian and writer, Plutarch posed a question, over two thousand years ago, that has continued to confound philosophers. “If the ship on which Theseus sailed has been so heavily repaired and nearly every part replaced, is it still the same ship — and, if not, at what point did it stop being the same ship?” This same question can be posed differently and more succinctly; if one has an ax and replaces the handle and the head does he still have the same ax?
This parable clearly presents a paradox that we collectors, restorers and enthusiasts of vintage and antique vehicles can well relate to. At what point do our “restorations” become replicas of what the original is thought to have looked like?
Let us look for a moment at a fairly straightforward restoration of an otherwise solid car. If a few body panels are replaced and others repaired and the drivetrain and chassis is otherwise original I think we can all agree that we have simply restored or rehabilitated the car; the majority remaining untouched and original.
But take the situation where you replace the body but not the frame. What about the situation where the frame and the body have been replaced? What about just the frame? Does the authenticity of the engine change your opinion? At some point the original car ceases to exist; its identity is destroyed and the resultant vehicle is a replica of what the original may have looked like. True, to even the trained eye, a complete replica may well be indistinguishable from the original but it is clearly not the original.
As illustrated above, Theseus’ paradox continues to confound us in our hobby. Cars today are being restored using many reproduction parts and it is unfortunately not uncommon to find that many of the rare cars have had their bodies, frames or had major components such as engines, transmissions or interiors replaced. Other concerns regarding rebodied vehicles can be found in the article Rebodied Cars … what to do?.
Additionally, the removal and replacement of VIN and serial numbers can create an equally sticky situation Many laws have been enacted to protect the integrity of the VIN. Pursuant to 18 U.S.C. § 511, the alteration of a VIN, could be a federal criminal offense. Further, pursuant to 18 U.S.C. § 2321 whoever buys, receives, possesses, or obtains control of, with intent to sell or otherwise dispose of, a motor vehicle or motor vehicle part, knowing that an identification number for such motor vehicle or part has been removed, obliterated, tampered with, or altered, could be fined or imprisoned for up to ten years. Similarly, Pennsylvania’s statutes also address this matter. Specifically, 18 Pa. C.S.A. § 7703 states that a person who alters, counterfeits, defaces, destroys, disguises, falsifies, forges, obliterates or removes a vehicle identification number with the intent to conceal or misrepresent the identity or prevent the identification of a motor vehicle or motor vehicle part commits a felony of the third degree and, upon conviction, shall be sentenced to imprisonment for not more than seven years or a fine of not more than $50,000, or both. Further, and most concerning is that pursuant to 18 Pa. C.S.A. § 7704 any person who purchases, receives, disposes, sells, transfers or possesses a motor vehicle or motor vehicle part with knowledge that the vehicle identification number of the motor vehicle or motor vehicle part has been altered, counterfeited, defaced, destroyed, disguised, falsified, forged, obliterated or removed with the intent to conceal or misrepresent the identity or prevent the identification of a motor vehicle or motor vehicle part commits a felony of the third degree and, upon conviction, shall be sentenced to imprisonment for not more than seven years or a fine of not more than $50,000, or both. Moreover consider, especially with the case of restamped engines that, in Pennsylvania, it is illegal knowingly buy, or sell an automotive part from which the manufacturer’s name plate, serial number or any other distinguishing number or identification mark has been removed, defaced, covered, altered or destroyed unless instructed or done by the manufacturer. 18 Pa.C.S.A. § 4104.
Often times Bryan W. Shook, Esquire, through his law firm Vintage Car Law, is contacted concerning misrepresentation of vehicles that have been rebodied or otherwise replicated to appear one way when they were not actually produced in that configuration. There is well-settled Pennsylvania case law which holds that “the deliberate nondisclosure of a material fact is the same as culpable misrepresentation. Even innocent misrepresentations are actionable if they relate to matters material to the transaction involved; while, if the misrepresentation is made knowingly … materiality is not a requisite to the action…. A misrepresentation is material when it is of such a character that if it had not been made, the agreement would not have been entered into.” McClellan v. HMO of PA, 604 A.2d 1053, 1060 (citations omitted).
In closing, if the car has been substantially modified during the restoration (i.e. rebuilt using all non-original parts, a new body, frame, engine, etc. )this information must be disclosed prior to the sale of the vehicle to the new owner. Failure to do so could create legal liability. The use of half-truths and crafty expressions of terms could create even further liability.
Attorney Bryan W. Shook is not only a devoted automotive enthusiast, but is also an experience litigator who devotes a large portion of his law practice to helping other collectors and hobbyists understand today’s market and protect their automotive investments. Attorney Bryan W. Shook is a seasoned automotive collector and restorer and as such brings real world experience and firsthand knowledge to the table for his clients throughout the world. Although Bryan Shook is headquartered in central Pennsylvania (close proximity to Carlisle and Hershey), Attorney Bryan Shook is available anywhere for consultation, advice, and information, most times, on as short as a day’s notice. If you’d like more information about this topic or would like to speak with Attorney Bryan W. Shook please email him at BShook@shooklegal or by phone at 717-884-9010. More information can be found at Http://www.vintagecarlaw.com.
Judge Rules that disgruntled ex-wife can sell husband’s rare 1968 Camaro
Pottsville, Pennsylvania – Vintage Car Law and Bryan W. Shook, Esquire where recently successful in defending and proving the title to a rare 1968 Chevrolet Camaro Rally Sport. Bryan W. Shook, Esquire acted as lead trial counsel to the buyer of the rare 1968 Camaro. The buyer purchased the Camaro from the ex-wife of the last titled owner. When the husband found out his Camaro had been sold he sought to get the car back. Attorney Shook petitioned the Court of Common Pleas of Schuylkill County for an order declaring that his client was the sole lawful owner of the Camaro and to extinguish any claim the husband may have to the car. The court ruled that the wife had the power to sell the car even though she did not have the Certificate of Title in her name. The Court’s Opinion can be found here – Judge Rules that disgruntled ex-wife can sell husband’s 1968 Camaro.
Bryan W. Shook, Esquire is the principal of Vintage Car Law Attorney Bryan Shook has helped hundreds of Pennsylvania residents properly title their antique and collector cars through petitioning the Courts. If you would like information on how Attorney Shook can help you get a title to your antique or collector car please email him at bshook@shooklegal.com.
Collector Car Market Experiences Billion Dollar Growth over last 10 years
Choosing the Right Legal Counsel Makes All the Difference
The collector car insurance company Hagerty Insurance is reporting that the collector car auction business in the United States is now a billion dollar business. Reports suggest that the total gross auction sales in 2013 eclipsed $1,300,000,000.00 ($1.3 Billion) according to Hagerty. Hagerty comparatively notes that in 2004 the figure was around $282,000,000.00 ($282 Million). This is a billion dollar growth in the United States collector car auction market in ten short years! As Hagerty and other news outlets note, this growth is not simply confined to the United States, but the world-wide collector car market has soared similarly over the same time-period.
With this type of unprecedented growth within the collector car market, hobbyists, collectors and car investors need to be more vigilant than ever to protect their investments and their collections. The market is ripe for fraud, misrepresentations and other nefarious actions, including ownership disputes and estate or probate litigation. If you, unfortunately, find yourself on the cusp of a dispute or hauled into court or other legal tribunal over the title, ownership, pedigree, provenance or history of an antique or classic car or collectible, you must be prepared to present your side of the story in an intelligible, persuasive and cogent manner. You would be best served by employing an attorney who fully understands the issues you face and the collector car market and car auction industry.
The handling of a legal matter concerning an antique or collector car is markedly different than other types of legal matters. In the collector car hobby there are “terms of art” (i.e. trim tag, restamp, NOS, NOM, matching numbers, etc.) that must be defined for the Court in order for your position to be argued effectively. Furthermore, many times it will not simply be enough to define the term, but rather the term itself and its application to the facts of the case are what the case’s ultimate determination may turn upon. This is where it pays to hire an attorney who not only “speaks your language” but also knows how the frauds are perpetrated and how to persuasively represent your position to the Court or Jury.
Ultimately, collectors must be hypervigilant in the current market and careful to employ the right legal counsel and other professionals with respect to their dealings, collections, and businesses. The market is constantly changing, not only in its growth but also in its technicalities and breadth, a collector’s diligence is of paramount importance.
Bryan W. Shook, Esquire is an attorney in Camp Hill, Pennsylvania whose practice areas include vehicle fraud, dealership fraud, VIN matters, title fraud, VIN error, estate ownership questions and general collector car problem resolution. Attorney Bryan W. Shook is not only a devoted automotive enthusiast, but is also an experience litigator who devotes a large portion of his law practice to helping other collectors and hobbyists understand today’s market and protect their automotive investments.
Attorney Bryan W. Shook is not only a devoted automotive enthusiast, but is also an experience litigator who devotes a large portion of his law practice to helping other collectors and hobbyists understand today’s market and protect their automotive investments. Attorney Bryan W. Shook is a seasoned automotive collector and restorer and as such brings real world experience and firsthand knowledge to the table for his clients throughout the world. Although Bryan Shook is headquartered in Camp Hill, Pennsylvania (close proximity to Carlisle and Hershey), Attorney Bryan Shook is available anywhere for consultation, advice, and information, most times, on as short as a day’s notice. If you’d like more information about this topic or would like to speak with Attorney Bryan W. Shook please email him at BShook@shooklegal.com or by phone at 717-884-9010. More information can be found at Http://www.vintagecarlaw.com.
The Status of Vehicle Titles in Pennsylvania
The Status of Vehicle Titles in Pennsylvania
By: Bryan W. Shook, Esquire
bshook@shooklegal.com
BUYING A VEHICLE WITHOUT A TITLE
In the realm of car collecting, one thing can cloud a bargain more than anything else, a vehicle with no title. The statement “no title” or “sold on bill of sale only” is usually enough to make most potential purchasers turn and run, FAST. But should it really scare us away? Perhaps, but not without good reason.
A vehicle sold without a certificate of title is a vehicle sold with questions.
Before you purchase any vehicle without a title, you must ask yourself the following.
- Why doesn’t the seller have a title to transfer to me?
- Is the vehicle listed in either the NMVTIS or the NICB VinCheckSM?
- How am I going to get a certificate of title in my name?
Why doesn’t the seller have a title to transfer to me?
The most obvious question is why does the seller not have a title to the vehicle? There are many potential answers to this question that should be asked prior to negotiating for the purchase of this vehicle.
For instance, the vehicle could be missing its title because it was previously salvaged and somehow escaped destruction (i.e. crushing); or worse yet, the vehicle could be stolen. These are reasons to RUN, FAST!!!
Often the case, however, is that the vehicle was abandoned, so to speak, by the last owner who held a certificate of title. This usually happened when the vehicle had fallen into such a state of disrepair that the condition and its value at the time made the title and registration of the vehicle a moot point. Accordingly, whoever acquired the vehicle from the last person may not have requested a transfer of the title for these, or similar reasons.
The answer to this first question often tells you 90% of what you need to know. Trust your instinct. If the story sounds fishy or otherwise unbelievable; it probably is.
Is the vehicle listed in either the NMVTIS or the NICB VinCheckSM?
Before you purchase a vehicle without a title you should run the VIN through two sources. The first is an initiative of the United States Department of Justice located at http://www.vehiclehistory.gov/ and known as the National Motor Vehicle Title Information System (NMVTIS). The NMVTIS is designed to thwart the registration of stolen vehicles and prevent title fraud. An important note, however, when researching the NMVTIS for collector cars, is that the system is still in its infancy and relies upon information uploaded from individual states. Results of the NMVTIS include where the vehicle was previously registered and if it has ever been reported stolen or had any other title issues in the past. With respect to antique and other older collectible vehicles, it is possible that some “older” thefts may have slipped through the cracks. So, don’t rely too heavily on the results of the NMVTIS search if it comes back with no record found. This is why it is important to also check the second source.
The second source that should be checked is the National Crime Insurance Bureau’s (NCIB) VinCheckSM. This database includes information regarding whether a vehicle has been reported stolen. The link to search the NCIB database is https://www.nicb.org/theft_and_fraud_awareness/vincheck .
Importance of an Adequate Bill of Sale
If you choose to go ahead with the purchase and buy the vehicle, it is highly recommended that you have the seller give you a bill of sale for the vehicle. It is important that the bill of sale identify the vehicle by year, make, model and VIN. The seller should state something to the effect that they are delivering you the absolute rights of possession and ownership of the vehicle. The seller should also state that to the best of his/her knowledge the vehicle is not stolen and how they acquired the vehicle and from whom. Of course the bill of sale should also indicate the date of the transaction and full contact information for both you and the seller. This will ensure compliance with 13 Pa. C.S.A. § 2401 and will assist you in the acquisition of a certificate of title down the road.
How am I going to get a certificate of title in my name?
The current laws in Pennsylvania contemplate only scenarios in which certificates of title are transferred with every vehicle transaction. Therefore, by extension, the law fails to contemplate a scenario in which a person or entity would acquire a vehicle or vehicles for which no owner can produce and accordingly transfer a certificate of title.
Similarly there appears to be no law, regulation or procedure, formally in place, for the motioning of the Court for a declaration of ownership of a motor vehicle so as to permit Penndot to issue a new certificate of title to memorialize the current owner and allow for registration of the automobile. Further it is important to note that Penndot has unfortunately purged many of their old motor vehicle records, including ownership and registration records. As a result, Penndot openly states that “[v]ehicle record information is available for the past 10 years only.” Penndot Form DL-135 (Rev. 9-10). Obviously this practice of record retention leaves open many scenarios whereby an owner cannot acquire a certificate title because Penndot has no record of ever issuing one.
What can be done to acquire a title? One solution is to Petition the Court of Common Pleas in Pennsylvania. Attorney Bryan Shook can assist you with this. He can be reached at BShook@shooklegal.com.
Legal History Lesson:
Vehicle titles in Pennsylvania are often the most misunderstood aspect of vehicle ownership. This is because of historically misinterpreted and misunderstood notions of what exactly constitutes “ownership” of a motor vehicle in Pennsylvania.
Under the Pennsylvania Motor Vehicle Code, an “owner” is defined as:
A person, other than a lienholder, having the property right in or title to a vehicle. The term includes a person entitled to the use and possession of a vehicle subject to a security interest in another person, but excludes a lessee under a lease not intended as security.
75 Pa. C.S.A. § 102.
The Superior Court has described titles and ownership this way;
[i]n Braham & Co. v. Steinard-Hannon Motor Co., 97 Pa.Super. 19, 23 (Pa. Super. Ct. 1929), though it involved the interpretation of earlier legislation concerning motor vehicles, the following language of Judge, later President Judge, Keller is nonetheless pertinent and applicable to The Vehicle Code of the present day: ‘It is clear that the primary purpose of the Act of 1923, supra, was to protect the public against the theft of automobiles and their resale by the thief, and to facilitate the recovery of stolen automobiles. It was a police measure, and was not designed to establish the ownership or proprietorship of the car, * * *.’ And at page 25, of 97 Pa.Super. Judge Keller said: ‘It follows that the act does not provide nor intends to provide that the ‘certificate of title’ shall determine the absolute ownership of the car, or alter or affect in any manner the actual ownership of the vehicle and the relations of the persons interested in it. It only requires registration by the person entitled to its possession and in control of its operation. The certificate is not a warrant of ownership or muniment of title as usually understood in the law. It may be relevant evidence in establishing such title.
Weigelt v. Factors Credit Corp., 174 Pa.Super. 400, 404, 101 A.2d 404, 406 (Pa. Super. Ct. 1954)
The idea that a vehicle may have both a legal and an equitable owner was recognized by the Commonwealth Court in Dept. of Trans. v. Walker, 136 Pa.Cmwlth. 704, 584 A.2d 1080 (1990). The Court in Walker stated that “[i]t follows that Section 102 of the [Vehicle] Code does not provide nor intend to provide that title to a motor vehicle shall determine absolute ownership of such. In fact, our research reveals that in Pennsylvania, the certificate of title constitutes no more than some evidence of ownership.” Id., 584 A.2d at 1082, citing Semple v. State Farm Mutual Automobile Insurance Co., 215 F.Supp. 645 (E.D.Pa.1963). See also Aetna Casualty & Surety Co. v. Duncan, 972 F.2d 523 (3d Cir.1992) (under Pennsylvania law, a state-issued certificate of title is in no way controlling on the question of ownership).
The courts of Pennsylvania look to see who it is that in fact possesses the attributes commonly associated with ownership. Aetna Casualty & Surety Co., at 526. The elements of ownership that Pennsylvania looks at are the elements of use, benefit, possession, control, responsibility for, and disposition of the automobile. Wasilko v. Home Mut. Cas. Co., 210 Pa.Super. 322, 326, 232 A.2d 60, 62 (Pa. Super. Ct. 1967).
Conclusion
In summation, although you may not have received an actual certificate of title when you purchased your vehicle, you still most likely own the vehicle. This is barring any type of theft in the vehicle’s past or another “owner” stepping in and challenging your interest while asserting that their interest is legally better than yours.
With this in mind, the motioning of the Courts for a declaration that you are the owner of the vehicle, and therefore entitled to a certificate of title from Penndot is often your best bet in getting the vehicle properly titled and on the road. The declaration of ownership is possible if you have actual legal ownership of the vehicle. The court will, to the extent that it is able, extinguish the rights and interests of all others, whom you are able to find and notify of the proceedings, in the vehicle. This will ultimately allow you to register and enjoy your vehicle without having the issue of not having a title hanging over your head and clouding your “ownership” of the vehicle.
Finally, always remember that a vehicle sold without a certificate of title is a vehicle sold with questions. This, however, does not absolutely mean that the vehicle can never again be titled. It does however underscore the need for the exercising of enhanced due diligence throughout the transaction.
The above information is in no way meant to be construed as anything more than general information. The above information is not legal advice. The author encourages you to seek the help of an attorney any time you are contemplating the purchase of a vehicle without a certificate of title. Further THE AUTHOR ASSUMES NO RESPONSIBILITY AND ACCEPTS NO LIABILITY FOR ACTIONS TAKEN BY USERS OR READERS OF THIS DOCUMENT, INCLUDING RELIANCE ON ITS CONTENTS. It is strongly encouraged that you seek legal counsel for all matters related to a collector or antique vehicle purchase given the amount of money involved and the rarity of the vehicles. This information is not intended nor does it create an attorney-client relationship.
This page includes links for your assistance only. This page is in no way associated with the NCIB page or the NMVTIS.
Bryan W. Shook, Esquire is a devoted automobile enthusiast. Attorney Shook would be glad to help you with any vehicle title issues you may have including lost titles, no titles, bill of sale transactions, etc. Attorney Shook is a collector and as a collector knows the ins and outs of the hobby, let Attorney Shook’s legal knowledge of the collector car hobby work for you. Attorney Bryan Shook can be reached at 717-884-9010 or by email at BShook@shooklegal.com. For more information – http://www.vintagecarlaw.com.
The Sincere Definition of Numbers Matching
Numbers Matching: From a Legal Standpoint
By: Bryan W. Shook, Esquire
Attorney-at-Law
BShook@shooklegal.com
A seller, an auction house, a broker, etc., all have express duties to not mislead buyers. It is the presentation that entices and induces a prospective buyer to make an offer or bid on a car. Often included within this presentation is the phrase “numbers matching”. Rarely in any field does a single term mean so much; in the field of car collecting, the term “numbers matching” means everything; or does it?
The phrase “numbers matching” was coined an untold number of years ago to describe a vehicle which retained its original driveline (i.e. the driveline that was installed into the vehicle during its initial assembly at its manufacturer’s plant). Specifically and most important in this definition is the engine; as this is the single most important aspect of a vehicle’s originality. There are some in the hobby, however that would have you believe that the phrase “numbers matching” has parted ways with its original and understood definition. These individuals would have you believe that the phrase “numbers matching” means that the driveline, has numbers appearing on its components, that look as though they could have been placed on there during the initial assembly process on the manufacturer’s line. This is where the issue with restamped engines and transmissions becomes ever apparent.
This disingenuous play on words is polluting our hobby.
Numbers Matching means ORIGINAL; the phrase and the meaning of “numbers matching” have never parted company. Numbers matching still means, as it always has, that the engine, transmission and rear axle are original to that particular vehicle. For the phrase to have any other meaning would render it flawed and unnecessary. The use of the phrase “numbers matching” in a disingenuous fashion opens the seller to a high level of legal exposure. The buyer who learns after he purchases the vehicle that the vehicle, is not “as advertised”, has the right to revoke his acceptance of the vehicle and enjoys many protections that come along with legal revocation. For example, these protections could include a statutorily created security interest in the vehicle up to the amount paid for the vehicle, plus certain expenses and other damages.
Any misleading use of the phrase “numbers matching” blackens the eye of the hobby. The only reason one would use such a deceitful definition of “numbers matching” would be in a calculated attempt to mask the true nature of the vehicle for self-serving purposes. This ultimately has a negative impact on the hobby.
For more information on what your rights are in such a transaction, please call or email me, I would be more than happy to discuss this or any other matter concerning car collecting with you.
Bryan W. Shook, Esquire is a licensed Pennsylvania lawyer. Attorney Shook’s office is headquartered in central Pennsylvania although his practice takes him across the country. During his career, Attorney Bryan Shook has become a powerful advocate for his clients and one of the foremost collector, antique and automotive fraud and misrepresentation attorneys in the country. He has successfully tried as well as amicably resolved cases throughout the United States. Bryan Shook can be reached by e-mail at BShook@shooklegal.com or by phone at 717-884-9010.
Bid with Knowledge; Buy with Confidence – Vintage Automotive
Fall Auctions – What Lies Ahead?
So now that Monterey is over, what lies ahead?
By all accounts Monterey was a success; collectors once again proved that no-nonsense cars still bring big money. The collector car market is alive and well. There were 14 cars alone that sold for more than $1,000,000.00 during RM’s Saturday night sale in Monterey. Similarly other auctions around the peninsula reported big numbers and record bidders.
So, what lies ahead? The fall is packed with great auctions which plan to offer something for everyone. Here is a sampling:
- September 2nd through 5th, 2010 – Auburn Collector Car Auction – Auctions America by RM
- September 16th through 19th, 2010 – Mecum’s St. Charles Illinois sale
- September 23rd through 25th, 2010 – Barrett Jackson – Las Vegas
- September 30th through October 1st, 2010 – Carlisle, Pennsyvlanaia – Carlisle Auctions held in conjuctionw ith Fall Carlisle Swap Meet
- October 7th through 8th, 2010 – RM Auctions – Vintage Motorcars of Hershey
- November 5th through 6th, 2010 – The Bob McDorman Collection (featuring one of the world’s most complete collection of Corvettes) – Mecum Auctions
Attorney Bryan W. Shook is a devoted automotive enthusiast, but is also an experience litigator who devotes a large portion of his law practice to helping other collectors and hobbyists understand today’s market. Attorney Bryan Shook is available throughout the United States for consultation, advice, and information. If you’d like more information about this topic or would like to speak with Attorney Bryan W. Shook please email him at BShook@shooklegal.com
Bid with Knowledge; Buy with Confidence – Vintage Car Law
32nd Annual Spring Carlisle Swap Meet & Collector Car Auction – April 21-26, 2009
32nd Annual Spring Carlisle Swap Meet & Collector Car Auction
By: Bryan W. Shook, Esquire
Email: bshook@shooklegal.com
The 32nd annual Spring Carlisle Swap Meet & Car Corral are about to get underway. Officially the event runs from April 21 through April 26, 2009, but large vendors are starting to arrive today. Carlisle’s swap meet offers what might be the best selection of automotive treasurers of any swap meet in the world. For the automotive faithful that make their annual trek to Mecca, the weather for this year’s Spring Carlisle looks to be better than most years, with forecasted highs in the low to mid 70s and clear skies! I know, the diehards will be depressed … “What no rain, how can it be Carlisle without rain???”
A change for this year’s event is that the Collector Car Auction will be held on Thursday and Friday nights, April 23 & 24, 2009 at the Carlisle Expo Center. Also new for Spring Carlisle is a cruise-in to be held on Sunday at the grandstands. This follows last fall’s successful Sunday cruise-in. I look for several hundred cars to attend.
As for the auction, there are several very appealing lots. With more than 250 vehicles scheduled to cross the auction block, there is certain to be something that appeals to everyone! See you in Carlisle! Http://www.carlisleevents.com.
Attorney Bryan W. Shook is a devoted automotive enthusiast, but is also an experience litigator who devotes a large portion of his law practice to helping other collectors and hobbyists understand today’s market. Attorney Bryan Shook is available throughout the United States for consultation, advice, and information. If you’d like more information about this topic or would like to speak with Attorney Bryan W. Shook please email him at BShook@shooklegal.com.
Bid with knowledge. Buy with confidence. – Vintage Car Law
Let’s Review: Barrett-Jackson – Palm Beach 2009 Collector Car Auction
Let’s Review:
Barrett-Jackson – Palm Beach 2009
By: Bryan W. Shook, Esquire
Email: bshook@shooklegal.com
Well, it’s hard to believe but the 7th Annual Barrett-Jackson Palm Beach Collector Car Auction is behind us.
How did the stars of the auction do?
The top seller of the weekend was Lot Number 369.1 the Super Chevy Magazine feature custom 1969 Chevrolet Camaro RS/SS titled “Project American Heroes”. The Camaro, which included parts supplied by over twenty five major speed parts producers and a legendary LS-series GM 427cu GMMG supplied powerplant, hammered sold for $500,000.00! The proceeds from the sale of the Camaro will go to benefit the Armed Forces Foundation, a truly worthy cause.
Two other stars of the auction with their proceeds going to charity were Lots Nos. 655 and 655.1 the 2004 Ford Mustang GT Convertible concept car and the 2004 Ford Mustang GT Coupe concept car, respectively. These cars debuted in January 2003 at the North American Auto Show and arguably started the current muscle car frenzy amongst the big three. Many people believe that these two concept Mustangs are what raised the ante for General Motors and Chrysler to go all in again and give the public what they want, FUN muscle or muscle-type cars. Ford let these two ponies out of their livery for Charity. Both concepts sold individually for $175,000.00, each, a bargain, any way you slice it. The proceeds from the sale of these two pieces of current American automotive history went straight to the benefit of the Juvenile Diabetes Research Foundation (JDRF). After the bidding for the coupe stalled around $150,000.00, Barrett-Jackson, CEO, Craig Jackson and Barrett-Jackson, President, Steve Davis, big against each other with Mr. Davis eventually taking home the concept car for the very reasonable price of $175,000.00.
The third historic Mustang that Ford auctioned off, was lot number 665, a 2010 Shelby GT500 coupe, the very first available for public sale. The hammer price was $150,000.00 and the proceeds above MSRP for the car went straight to the Carroll Shelby Children’s Foundation.
So, how did my “sleeper” predictions go? Pretty well, but judge for yourselves.
1920 Chevrolet Model T – 1 Ton (open cab) chassis truck (Lot # 678) – Sold $37,400.00
1964 ½ Ford Mustang convertible (Lot #347) – Sold $51,700.00
1972 Chevrolet C10 Cheyenne Short Bed pickup (Lot #32) – Sold $35,200.00
1976 Chevrolet C10 Silverado Long Bed pickup (Lot #330.1) – Sold $29,150.00
1994 Pontiac Trans Am 25th Anniversary Edition Convertible (Lot #58) – Sold $37,950.00
1999 Pontiac Trans Am 30th Anniversary Coupe – Daytona 500 Pace Car (Lot #616.1) – Sold $39,600.00
I think my sleepers performed very well considering that the lack of national publicity that other auction cars enjoyed and the current economic situation but they all sold at the high end of their respective value ranges, proving that good quality cars (and trucks) will always command higher prices.
Closing Thought – I believe GM has sold over 200 or so of its Heritage Collection and I hope that this “garage sale” is over soon. On the bright side, I hope that the new owners of these GM refugees allow the cars to see the light of day again and hopefully we can all enjoy them at an upcoming automotive event or car show.
Attorney Bryan W. Shook is a devoted automotive enthusiast, but is also an experience litigator who devotes a large portion of his law practice to helping other collectors and hobbyists understand today’s market. Attorney Bryan W. Shook is a seasoned automotive collector and restorer and as such brings real world experience and firsthand knowledge to the table for his clients. Attorney Bryan Shook is available throughout the United States for consultation, advice, and information. If you’d like more information about this topic or would like to speak with Attorney Bryan W. Shook please email him at BShook@shooklegal.com.
Bid with knowledge. Buy with confidence – Vintage Car Law
Record Price – 1992 Pontiac Firebird Formula $38,500.00 – GM Heritage Collection Refugee
1992 Pontiac Firebird Formula – Sells for $38,500.00!!!
By: Bryan W. Shook, Esquire
Email: bshook@shooklegal.com
BREAKING NEWS – The 1992 Pontiac Firebird Formula just released from the GM Heritage Collection has just sold for an outstanding $38,500.00! The ‘bird sold as lot #11 today, Thursday, April 09, 2009 at the 7th Annual Barrett-Jackson West Palm Beach Collector Car Auction.
While I cannot confirm that this pale yellow Firebird was a 1LE version, I can state that it featured the highly coveted WS6 performance suspension option, 1LE style brake calipers, no air conditioning and a 305cu tuned port injected small block with a 5spd manual transmission. The car also appeared to have the engine oil cooling package. The VIN of this car was 1G2FS23F0N1200001 confirming that this was in fact the very first 1992 Pontiac Firebird Formula produced.
Although strong money was spent to purchase this car, the buyer can rest assured that he/she has purchased one of the most historically significant 3rd Generation F-Bodies directly from GM! This car was breath-taking in every way and presented as an outstanding, original, vehicle, as close to a brand new one as anyone has gotten in the nearly two decades since production of the third generation F-Bodies ceased.
For more information regarding my views on the up-ward trend of the 3rd and 4th Generation F-Bodies be sure to read my article – “GM F-Bodies – 1982-2002 Can’t Miss Investments, Even in this Economy“
Attorney Bryan W. Shook is a devoted automotive enthusiast, but is also an experience litigator who devotes a large portion of his law practice to helping other collectors and hobbyists understand today’s market. Attorney Bryan Shook is available throughout the United States for consultation, advice, and information. If you’d like more information about this topic or would like to speak with Attorney Bryan W. Shook please email him at BShook@shooklegal.com.
Bid with knowledge. Buy with confidence. – Vintage Car Law
2009 Barrett-Jackson – Palm Beach Auction – Cars to Watch “The Sleepers”
Barrett-Jackson – Palm Beach 2009 Auction
By: Bryan W. Shook, Esquire
Email: bshook@shooklegal.com
It’s that time again in sunny south Florida.The trucks are arriving as I type this delivering one gorgeous car after another. All told, over 700 cars will be sold this week at the “lifestyle” event that is Barrett-Jackson’s 7th annual Palm Beach collector car auction. As has been the norm for Barrett-Jackson auctions over the past five years or so, this will be a “No-Reserve” auction which means all cars will sell to the highest bidder regardless of price
Speed TV will be broadcasting 22hrs of live high-definition coverage of the event.
Although we are technically in a recession, I look for several of the auction lots to sell for strong money. Plenty has been written about the feature cars of the auction so I have chosen to focus this article on what I believe will be the best buys of the auction.
On Tuesday, April 07, 2009, I was fortunate enough to be able to spend some time “kicking the tires” and here is my list of vehicles to watch.
· 1920 Chevrolet Model T – 1 Ton (open cab) chassis truck (Lot # 678)
o This truck is coming out of the GM Heritage Collection and is in very nice shape. The truck shows some slight deterioration from sitting and appears to have been restored a number of years ago. Although it’s only sold on a Bill-of-Sale, I believe this will be a great buy. Where else are you going to find one?
· 1964 ½ Ford Mustang convertible (Lot #347)
o This car is extremely well presented and appears to be over restored. If you are looking for a rare color (Skylight Blue) and color keyed blue convertible top car this is the car for you. Although this is an original D-Code (289cu 4bbl) car with 4spd manual transmission, the engine has supposedly been replaced with a circa 1965 Ford 289cu engine. Bottom line is that this is a striking color combination on an extremely significant model year Mustang.
· 1972 Chevrolet C10 Cheyenne Short Bed pickup (Lot #32)
o This truck is as clean as ANY you’ll find. It supposedly features its original number’s matching 402cu big block engine and air conditioning. To say this truck is restored to a high level is an understatement. It is evident that true love went into this restoration and either this was an excellent original when the restoration was started or someone spend A LOT of money, not to mention time, during the restoration seeking out good quality original pieces.
· 1976 Chevrolet C10 Silverado Long Bed pickup (Lot #330.1)
o This is allegedly a 17,000 mile truck. The truck features a 454cu engine, air conditioning, power steering, power brakes and the optional gauge package. The cons on this particular truck are that it is a long bed model and it is painted, assumedly original, light saddle over neutral.
· 1994 Pontiac Trans Am 25th Anniversary Edition Convertible (Lot #58)
o This is an extremely rare 1 of 250 convertible 25th Anniversary Edition Trans Ams that is in very good, original condition. This car is officially 15 years old and looks great. The TA is powered by the corporate 5.7 liter (350cu) 275hp small block Chevrolet engine which is backed by a very fun 6spd manual transmission. The car is extremely clean with only minor road spray on the undercarriage and rear axle assembly. Overall, this vehicle represents an amazing opportunity to purchase a historical vehicle directly from GM. For more support please refer to my article below “‘Can’t Miss Investments, Even in this Economy’ 1982-1992 GM F-Bodys”
· 1999 Pontiac Trans Am 30th Anniversary Coupe – Daytona 500 Pace Car (Lot #616.1)
o This vehicle has it all, the LS1 engine, the signature blue anodized wheels, the white leather seats, removable roof panels (i.e. T-tops) … not to mention provenance directly from GM as an officially 1999 Daytona 500 Pace Car. Again, as stated above, this vehicle represents an amazing opportunity to purchase a historical vehicle directly from GM. For more support please refer to my article below “‘Can’t Miss Investments, Even in this Economy’ 1982-1992 GM F-Bodys” Did I mention this car is a WS6 optioned vehicle with the aggressively styled Ram Air hood and induction system?
The above list represents just a sampling of the vehicles offered at this year’s Barrett-Jackson, West Palm Beach, Florida Auction. For more information, be sure to visit their website at http://www.barrett-jackson.com.
Bid with knowledge. Buy with confidence.
Attorney Bryan W. Shook is a devoted automotive enthusiast, but is also an experience litigator who devotes a large portion of his law practice to helping other collectors and hobbyists understand today’s market. Attorney Bryan W. Shook is a seasoned automotive collector and restorer and as such brings real world experience and firsthand knowledge to the table for his clients. Attorney Bryan Shook is available throughout the United States for consultation, advice, and information. If you’d like more information about this topic or would like to speak with Attorney Bryan W. Shook please email him at BShook@shooklegal.com.
