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Thread: BAT and long hoods

  1. #1

    BAT and long hoods

    Of course my morning rounds always include perusing BAT. Plenty of late 70's, 80's and 90's especially turbos. Fewer 65-73 for sale. Both 911s and 912s. Is it me or are we finally running out. Supply and demand? Or are sellers just waiting and hoping for higher prices? Looks like the 356 guys are dumping a lot. Just wondering. Especially interesting with stocks at all time highs.

  2. #2
    Senior Member
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    I can't say, but I would never sell a classic car in the winter. That might be all that's happening. Spring weather opens every driver's wallet.
    - 1969 911T Ossi Blue #3981

  3. #3
    Senior Member
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    inflation is playing a big part in the uncertainty of the economy. The early 911 is valued very high so al lot of owners bought when they were at a lower value so once you sell you can not come back into the market. So just enjoy the car.
    1. Chris-Early S Registry#205
    2. '70 911S Tangerine
    3. '68 911L Euro Ossi Blue

  4. #4
    Prices have been very strong through the pandemic and now seem to be retracting. I was talking to a real estate broker and he said some of the pandemic real estate trends are reversing. I’m told that the results of the Las Vegas Mecum show a strong reversal and that many of the “no reserve” bikes got 50% of the expectations.
    Bill
    1969 911T - sold
    2001 911 Turbo - sold
    1996 911 C4S - returned
    1982 911SC - gone
    1960 356 Roadster - sold

  5. #5
    I'm getting ready to sell my 1972 911 S Targa, matching numbers, Olive Green, sport seats with houndstooth, documentation since new from original owner. Not concours, I have driven it everywhere and it's a VERY clean driver.
    Should I wait until AFTER the Lit Show weekend and /Air-Water for the summer or hold on until AFTER the elections? I want ALOT!!

    Second question: how are sellers LEGALLY reducing the capital gains? I'll keep it before I pay the SERIOUS taxes that have been mentioned to me.
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    Ray Crawford
    Early S Registry #271
    R Gruppe #255
    '70 911 S Coupe 2.9 w/MFI Twin Plug "Flairs n Chairs"
    '72 911 S Targa 2.4 w/MFI

  6. #6
    Senior Member lopena's Avatar
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    Ray:

    There’s no easy way to avoid capital gains on the sale of an asset worth a couple of hundred thousand dollars. There are always schemes to avoid paying taxes, of course (getting paid in gold coins?) but I would recommend that you just suck it up and pay the capital gains tax.

    However, you can minimize the tax bite by collecting all of your restoration invoices and tallying them up. From the looks of your car you must have spent a small fortune getting it into such good shape (don’t include routine maintenance expenses such as oil, filters, plugs, etc.).

    Add the “restoration” costs to your initial purchase cost and you’ll have your tax basis.

    Disclaimer: I’m not a tax attorney or accountant, so some of the experts out there may take exception to the above, but this is the approach I’ve always used and it’s rational and reasonable.

    Good luck!

    Alan
    N.J.
    Alan
    N.J.


    1964 E-Type roadster
    1969 911S
    1988 328GTB
    2002 Maranello

  7. #7
    Senior Member 62S-R-S's Avatar
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    Quote Originally Posted by RC70SCoupe View Post
    ...I want ALOT!!
    You sometimes hear there is an advantage to selling with 'no reserve' that some recommend in order to attract 'many more buyers' and the higher offers. Or does a reserve act as insurance against bargain hunters ?

  8. #8
    Quote Originally Posted by lopena View Post
    Ray:

    There’s no easy way to avoid capital gains on the sale of an asset worth a couple of hundred thousand dollars. There are always schemes to avoid paying taxes, of course (getting paid in gold coins?) but I would recommend that you just suck it up and pay the capital gains tax.

    However, you can minimize the tax bite by collecting all of your restoration invoices and tallying them up. From the looks of your car you must have spent a small fortune getting it into such good shape (don’t include routine maintenance expenses such as oil, filters, plugs, etc.).

    Add the “restoration” costs to your initial purchase cost and you’ll have your tax basis.

    Disclaimer: I’m not a tax attorney or accountant, so some of the experts out there may take exception to the above, but this is the approach I’ve always used and it’s rational and reasonable.

    Good luck!

    Alan
    N.J.
    I believe you could 1031 exchange until it was changed with the last administration:

    https://www.nytimes.com/2018/08/09/b...-exchange.html
    Early 911S Registry #263

  9. #9
    Senior Member Cliff's Avatar
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    All I know, the money made will be taxed again as you spend it! Every time a dollar is spent it cost $.
    To err is human; to blame it on someone else is more human...

    "You must always strive to be the best, but you must never believe that you are."
    —Juan Manuel Fangio[48]

    ”What would PORSCHE do”

    67 911 de Luxe, 356 B silver metallic / brown interior, ( buck skin really ) 67 PORSCHE [ built ] 912, Crystal blue, black interior, 72 T, Silver metallic/black interior, appearance group,factory AC.

  10. #10
    No one who knows what they're doing sells a car this time of year. We sell our last car around Thanksgiving and won't have another on the market until Spring, i.e. March/April. And it's not that we don't have cars, the yard is currently full. But like Kenny Rogers said, "You gotta know when to hold em."

    ---Adam
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