Pagoda SL Group
W113 Pagoda SL Group => General Discussion => Topic started by: roadsterdude on February 03, 2011, 20:40:32
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OK, there is a '67 250 SL that will be sold at an IRS Auction on Feb 24 near Olympia WA. This is a seized property Auction, and those are usually one item only, so not a big Auction event, just one car for sale that day. These Auctions are done in-house by IRS Property Appraisal & Liquidation Specialists, so not a commercial Auction. (No Buyer's Premium etc) There is a minimum bid (in this case I am told that will be $9000 but that is not yet listed on the web site). I used to be a PALS before I retired and went into the private Auction business, so I follow their web site, and was stunned when I saw the 250. If it were closer to me - and if I had not just blown the engine on my '80 300 SD (another sad story) - and if my wife would not divorce me for dragging yet another stray home - I would not be posting this, but flying out to inspect this car! As it stands, I will not be bidding, and so I am alerting you guys to have a look at it.
The PALS are supposed to set the minimum bid by law at 80% of the taxpayer's "Forced Sale Equity", which comes out to about 60% of FMV. The problem is determining FMV on a 250 SL since everything is based on condition. You cannot tell much by the pix, and this lady knows zilch about SLs, but a close look would tell you everything you need to know. I would be very interested to see what this car is like, and how much it brings at the Auction.
If someone near Washington gets by to see it, I would love to see a posting about what you think (that is unless you are going to bid and play your cards close to the vest). If that is the case, then maybe a report after it has sold would be possible. Here is the link www.irsauctions.gov Click on Cars/Motorcycles and scroll down to Tumwater WA. GOOD LUCK!
PS. If you end up getting a great buy on this REMEMBER ME ;D
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Thanx for sharing that information,
This is an "early" 250Sl and was produced around the first week of June 67.....I know because mine is just 13 cars earlier #2500.
I'm glad to see one more of the few "early 250's" survivor out there...hope the car finds a good home , and that the future owner will join the Pgoda Club to keep in touch,
Greetings,
Godcompany :)
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Can't help feeling a little sorry for the (involuntary) seller though...must be a bummer to have your car confiscated by the IRS :-(
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Ulf, I agree, but it is not the car's fault - it deserves a good home :'(
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Before feeling sorry for the owner- It takes quite a bit of flagrant disregard for tax law to wind up in IRS auction. Though it is impossible to say in each case, many IRS cases are as a result of flagant violation of tax law ie wesley snipes, for which we all pay for as the auction will never recover the full amount owed.
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OK, which one of you bought this car..(the Auction was this morning!) Tell me someone on the forum is the new owner, and post about it! If not, did anyone have a chance to take a look at it before the Auction?
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Peterm - I know, as far as I remember from my time spent in Houston, US tax laws are not that complex, so you are probably right that it is a case of tax fraud rather than plain negligence. Over here, things are much more complicated and as our taxes are much higher (up to 60%!!!), a lot of people end up in these scenarios without intent. But whether the p.o. is a fraud or not, it must be hard seeing your Pagoda confiscated, I would chain myself to mine and refuse to let go :-)
But let's hope the car finds a good home and that new owner joins our forum
A nice weekend to you all
Ulf
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I would venture that if you add up some of our costs for things included in your tax we'd likley have similar percentages. Add in health insurance, realestate taxes, sales tax- sociial security and other non-income tax items and were likley on the same page
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Don't even get me started on Taxes!! But the thread is about the car, right? I could not help myself, I checked with the IRS employee who sold the car. It brought $16,000 in "white out conditions" with 14 live and 13 mail-in bidders. Still looks like it may have been a bargain. Would have to have seen it though...maybe next time. Hope it found a nice "warm" home.