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Note who the owner is? Given the fact that he makes part of his living restoring 442's - especially W30's - why isn't he doing this car himself? Makes me wonder.
NOM and trans, missing carb and needing total resto and missing other parts makes me think it may not be worth the investment? I bet that was a beauty when new though. I like the colors.
Thorton usually just deals in all number matching cars restored for Barret -jackson , but also private restorations, this would take a lot to do correct
Speaking from exp (on a 70-442 that was in much better condition)
That car will suck at least $125k outta your wallet, if you pay a real professional to perform the job, at least that much. And likely over a yr to complete
If you have that kind of coin buy one done and save yourself the brain damage. Thorton (the seller of the car in this op) did my GSX took 3 years and 100k++ and its still going on. Lesson learned. Buy 'em done or pay up on a survivor when you can.
Thats obscene.
Another thought: If I was able to win the auction no matter what the price, Just to put the title in my name in the state of MA would cost me another 10K
Thats obscene.
Another thought: If I was able to win the auction no matter what the price, Just to put the title in my name in the state of MA would cost me another 10K
In Rhode Island it would cost me a minimum of 14K in tax alone, if the car was purchased at any price under 200K. More than 200K would cost me more.
I'm sorry, I forgot it was a convertible. Make that a minimum of $21,000 in sales tax to RI alone. In RI, by law they must go by the NADA clean retail value for sales tax regardless of condition. A 70 W30 has a NADA value if 200,000 X 7%=$14,000. A convertible is currently at 300K by NADA. That is without any other options. Options add to the value.
Delaware motor vehicle charges 6%. When I took my car though a 442 convertible not even a W30 had a NADA value set at over $100,000 and recommended a appraisal. Didn’t even ask about a w30 cost
Delaware motor vehicle charges 6%. When I took my car though a 442 convertible not even a W30 had a NADA value set at over $100,000 and recommended a appraisal. Didn’t even ask about a w30 cost
And Delaware is the most friendly tax state in the country. I didn't think they had sales tax at all. In RI we also have yearly property tax on vehicles based on the same NADA book value. In some communities it's as high as $60 per thousand. If you drive a $500 car and they say it's worth $10,000, you have to pay $600 a year in tax to own it. Wait, it gets better. The State legislature passed a law that says if you appeal the valuation, it is illegal for you to use three things as the basis for your appeal. 1) It is illegal to use the mileage on the car as a basis for appeal. 2) It is illegal to use the price you paid for the car as a basis for appeal. And the final kick in the head, 3) It is illegal to use the condition of the car, whether or not it is a whole car or just parts of the car. If you are registering the Vin number to proclaim ownership, you need to pay on the NADA value. Although this applies to the 7% sales tax always, luckily the yearly property tax drops off for any vehicle over 25 years old. Don't get me started on the mandatory bi-annual safety inspection that must be completed within 14 of registration or your registration will be revoked with no refund to you.
It feels like govt is trying to put an end to classic cars and the enthusiast without officially making the cars illegal. They are squeezing the people who may find this hobby enjoyable out of the hobby by making it unaffordable. For a lot of people who enjoy old cars, tinkering and the nostalgia, taxes like this will drive them out of the hobby. Its like a silent coup. This will turn into a rich mans hobby if all states follow suit.
I don’t know what or if the government has anything to do with it think it has to do with people going to motor vehicle and having written down paying a couple hundred dollars for a car when they pay thousands. NADA is just a universal tool that just about every car dealer new it used uses and it makes things universal across the board. Doesn’t make it right but makes it so all are doing it the same. The government sets the tax scale but sont think that’s changes in years at least here in Delaware . We have had 6% for as long as I’ve been buying cars
My issue with the whole valuation thing is, there is no credibility backing the values as stated by the guide. The guide is put out by an organization called the "National Automobile Dealers Association". You might think the price guide would consult "Nation-wide Automobile Dealers", and use actual sales of automobiles to develop a perception of value. That is Not being done. In this case, they have their "Average Condition" values, far exceeding any actual sales prices, of even the most rarest and finest completely restored examples.
Other than a taxing authority, who in their right mind would ever give any credibility to the values they are listing?
According to NADA, this car which has A/C, in its current condition, is currently valued at $158,970. If it was in average condition, it would be valued at $220,185. If it was in excellent condition, it would be valued at $326,025. Where do these numbers come from?
I Like the car don't like the price LOL, not sure why folks are calling it a w30, hopefully not because of the wrong stripes, it has no w30 stuff? no under bumper scoops, No red fender wells, nothin' lol... Id be surprised he gets the opening bid... just my 2 cents
is RI & other states gov't licensing/registration entities (that are using NADA) AUTHENTICATING cars to warrant the possibility of doubling available revenue?
or do their taxes revert to the model (no OPTIONS considered) based on the VIN number? in this case: 1970 Oldsmobile "34467"
I Like the car don't like the price LOL, not sure why folks are calling it a w30, hopefully not because of the wrong stripes, it has no w30 stuff? no under bumper scoops, No red fender wells, nothin' lol... Id be surprised he gets the opening bid... just my 2 cents
you need to follow the original post/auction not the eBay redirected '69 convertible auction
My issue with the whole valuation thing is, there is no credibility backing the values as stated by the guide. The guide is put out by an organization called the "National Automobile Dealers Association". You might think the price guide would consult "Nation-wide Automobile Dealers", and use actual sales of automobiles to develop a perception of value. That is Not being done. In this case, they have their "Average Condition" values, far exceeding any actual sales prices, of even the most rarest and finest completely restored examples.
Other than a taxing authority, who in their right mind would ever give any credibility to the values they are listing?
According to NADA, this car which has A/C, in its current condition, is currently valued at $158,970. If it was in average condition, it would be valued at $220,185. If it was in excellent condition, it would be valued at $326,025. Where do these numbers come from?
i agree with you I work at a dealership
there is no accountable reason other then money to justify how they scale vehicles these days
Guess the moral of the story would be have your car appraised , will cost a little bit but may save you a lot at the other.
and the car in the pic that I get is a rarer car but someone put in a bid of $50000, it will take easily that amount if not more to get that car in a state that you might break even.
Think Hemmings still has the Ming green 70 W30 for sale documented 19,000 mile unrestored car while not a
convertible there asking $105000 or best offer. There was a very nicely restored Ming green convertible for sale few months back may still be for sale think that was up for $125000 . The done cars are out there. Too much time and money at least for me to restore one .
is RI & other states gov't licensing/registration entities (that are using NADA) AUTHENTICATING cars to warrant the possibility of doubling available revenue?
or do their taxes revert to the model (no OPTIONS considered) based on the VIN number? in this case: 1970 Oldsmobile "34467"
In RI they are strictly going off the VIN# on the paperwork you provide to them to determine the cars value. They don't even want to see the car to verify that it even exists, never-mind if it has any options on it or the condition it's in. They just want the tax money, (which by the way needs to be paid immediately. My bill of sale was dated Feb 20th. I didn't go to the registry until last Tuesday, March 26th. I forgot there was a 10% flat rate penalty for not paying the tax and registering the vehicle within 30 days and another 1.5% added on for each month thereafter. I had to pay 11.5% more than the tax due). RI also does not require a title to register any car older than 2000. All they want to see is a bill of sale and proof of the previous owner, (which could be a title or even an old registration in the previous owners name). If you have a title, they will not take your title and issue you a new one in your name if the car is older than the year 2000. If you subsequently sell the car to someone in another state that requires a title, RI will only provide you or them with a letter that states RI is a non-title state that does not issue them.
Did I mention our Governor, Gina Retardo wants us to become a sanctuary state? Can't wait to move out of here.
I Like the car don't like the price LOL, not sure why folks are calling it a w30, hopefully not because of the wrong stripes, it has no w30 stuff? no under bumper scoops, No red fender wells, nothin' lol... Id be surprised he gets the opening bid... just my 2 cents
70's didn't have under bumper scoops. It had the OAI system under hood
March 28th, 2019, 12:53 PM
