A 30 year car buddy of mine has a very unique and valuable classic car that he inherited (fully original and unrestored, and documented
to the hilt....sitting covered since the early 1960's). This is typically the kind of car the Big Players spend $500K on a restoration and go out and win trophies with. He's being told by multiple "connected" sources that his car will be unsaleable to the high end portion of the car market if he dares to place it for sale on EBay Motors, Major Auctions like BJ or R&M, or anywhere else. He was told all the big guys only buy their cars in secret, behind the scenes. They will never buy such a car once it has been openly exposed for sale or auction.
What makes this even more interesting is that one of the well known agents/researchers in this market has been trying to work up a deal with him on the car. They DO have a price they can work with. However, the potential buyer has mentioned there are a number of documents he will be providing that will need signatures from the buyer. The docs would include non-disclosure agreement, some sort of research and pedigree assistance from buyer....even into the future after the car is handed over, and other requirements.....some yet to be named. Despite numerous requests by the buyer to see these documents the seller just ignores him and keeps pushing for a verbal agreement. I'm thinking this potentially opens up my friend to litigation down the road (and $$ claw backs) if for some reason he fails to meet some term in the document....disclosed, undisclosed, vague, etc.). Whatever happened to the bill of sale stating "purchased as is" and handing over a good title/registration to prove ownership? I can't mention the car or any specifics because it might violate the potential buyer's terms that the car remain unknown to general hobby until purchased by them. Still, the car is listed in a major Registry since the 1960's....so it's not totally unknown to the hobby.
Anywhere have a handle on what goes on at this level between the Billionaire Buyers and potential agents/brokers/advisors/authenticators ?
to the hilt....sitting covered since the early 1960's). This is typically the kind of car the Big Players spend $500K on a restoration and go out and win trophies with. He's being told by multiple "connected" sources that his car will be unsaleable to the high end portion of the car market if he dares to place it for sale on EBay Motors, Major Auctions like BJ or R&M, or anywhere else. He was told all the big guys only buy their cars in secret, behind the scenes. They will never buy such a car once it has been openly exposed for sale or auction.
What makes this even more interesting is that one of the well known agents/researchers in this market has been trying to work up a deal with him on the car. They DO have a price they can work with. However, the potential buyer has mentioned there are a number of documents he will be providing that will need signatures from the buyer. The docs would include non-disclosure agreement, some sort of research and pedigree assistance from buyer....even into the future after the car is handed over, and other requirements.....some yet to be named. Despite numerous requests by the buyer to see these documents the seller just ignores him and keeps pushing for a verbal agreement. I'm thinking this potentially opens up my friend to litigation down the road (and $$ claw backs) if for some reason he fails to meet some term in the document....disclosed, undisclosed, vague, etc.). Whatever happened to the bill of sale stating "purchased as is" and handing over a good title/registration to prove ownership? I can't mention the car or any specifics because it might violate the potential buyer's terms that the car remain unknown to general hobby until purchased by them. Still, the car is listed in a major Registry since the 1960's....so it's not totally unknown to the hobby.
Anywhere have a handle on what goes on at this level between the Billionaire Buyers and potential agents/brokers/advisors/authenticators ?
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