LP670-4SV SIEZED by the IRS..

"This car can go up to 400 miles per hour". Yeah, right sweety

 

 

 

Not surprised. So many reporters are so clueless, its not even funny. "I have been doing some reading..." More like, how about some "book learning." LOL

 

Why does someone need to own an Expedition limo?

So who is at the auction today?

So who is at the auction today?

 

 

http://blogs.trb.com/news/local/south_flor..._exotic_ca.html

Why does someone need to own an Expedition limo?

 

You mean that you are the only person on this forum that does not own an Expedition stretch limo? Really? Everyone else has one

DAYUUUUUM!!!!

Lot 13

2008 Bugatti Veyron EB 16.4 Odometer Reads: 801

Winning bid: $858,000

What the fcuk were these bidders smoking? They're all paying retail or above it seems. Like:

 

2008 Ferrari F-430 Spyder Convertible

Winning bid: $199,000

 

Even the 670 didn't even go for that much of discount.

That's a lot of toys! That yacht is sweet.

That's a lot of toys! That yacht is sweet.

 

 

Yacht is a pos.

What the fcuk were these bidders smoking? They're all paying retail or above it seems. Like:

 

2008 Ferrari F-430 Spyder Convertible

Winning bid: $199,000

 

Even the 670 didn't even go for that much of discount.

 

That's what wrong with auctions most will pay close if not retail on items because they get emotional at the moment of bidding. Although the 670 was a good buy, potential profit will be 6 figures for sure.

 

That's what wrong with auctions most will pay close if not retail on items because they get emotional at the moment of bidding. Although the 670 was a good buy, potential profit will be 6 figures for sure.

You think you can resell a USED lp670 for sticker.... ya no...

 

Even the Bug @ 850k is a normal price for a used Bug..

Sorry I stand corrected but still will make some good cash.

 

Sorry I stand corrected but still will make some good cash.

Thats full retail inmo, and I believe it needs a new front spoiler.

What the fcuk. I should have sold my F430 Spider at that auction.....

You think you can resell a USED lp670 for sticker.... ya no...

 

but it is a collectors item

What the fcuk. I should have sold my F430 Spider at that auction.....

 

 

 

Do these auctions have the 10% buyers premium? Cause if so that Bugatti really wasnt that great of a purchase.....

Do these auctions have the 10% buyers premium? Cause if so that Bugatti really wasnt that great of a purchase.....

 

 

Yes they do. These auctions are a scam, IE that nortech cat has nothing to do with Rothstein, the government has had it for nearly two years. I won it at an auction about 6 months ago for $58,000 and they backed out of the sale even though they hammered it. Now they mix it in with the Rothstein crap and BAM it goes for over $150k! The yacht is a rip off of an Azimut S, it's built like shit, the fit and finish is awful. It's literally sale proof in the real world, yet it sold for $250K + buyers fee. UNREAL!

Yes they do. These auctions are a scam, IE that nortech cat has nothing to do with Rothstein, the government has had it for nearly two years. I won it at an auction about 6 months ago for $58,000 and they backed out of the sale even though they hammered it. Now they mix it in with the Rothstein crap and BAM it goes for over $150k! The yacht is a rip off of an Azimut S, it's built like shit, the fit and finish is awful. It's literally sale proof in the real world, yet it sold for $250K + buyers fee. UNREAL!

 

is there any way to run around the buyers premium? what if you have a dealers license?

Yes they do. These auctions are a scam, IE that nortech cat has nothing to do with Rothstein, the government has had it for nearly two years. I won it at an auction about 6 months ago for $58,000 and they backed out of the sale even though they hammered it. Now they mix it in with the Rothstein crap and BAM it goes for over $150k! The yacht is a rip off of an Azimut S, it's built like shit, the fit and finish is awful. It's literally sale proof in the real world, yet it sold for $250K + buyers fee. UNREAL!

Wasnt the Warren a good deal at 2.5mil? to bad you didnt have recourse back to the gov.....

just read that the same dealership that was selling the 670, slr, veyron, etc purchased back the veyron for 858k and the slr for 300k

Rothstein car and yacht auction brings in $5.8 million

 

Scott Rothstein's most coveted possessions — the world's finest supercars and luxury yachts — were scattered to the winds at a blistering pace Thursday, as an international crowd of bidders snapped up the gleaming steel and polished fiberglass status symbols.

 

There was such a huge turnout at the Broward County Convention Center that the auction started almost two hours late, to accommodate an overflow crowd of more than 1,000 curiosity seekers and buyers willing to plunk down hundreds of thousands or millions of dollars to possess a piece of Ponzi history.

 

The cars — among them a Bugatti, two Ferraris, a Lamborghini Murcielago, a '67 POS Stingray, a Bentley, a Rolls Royce, a Mercedes McLaren and a Maserati — were artfully arrayed around the exhibition hall behind velvet ropes, with IRS agents carefully watching over them and politely bantering with the milling crowds.

 

Once the auctioneer began the crying of the 17 lots, the bids for the higher ticket items shot into the stratosphere within seconds — $200,000, $500,0000, $2 million. There were shouts of joy and groans of despair.

 

In a little over an hour, the 11 cars, four yachts and two WaveRunners brought $5.8 million that will go to a restitution fund for victims of Rothstein's massive $1.4 billion investment fraud scheme.

 

One of the bidders who got caught up in the adrenaline rush was Jean Pierre, a commercial real estate investor from Dallas who wound up being the backup winning bidder for one of the Ferraris and Rothstein's prized 87-foot Warren yacht, the Princess Kimberly, which went for $2.51 million.

 

As the bids on the yacht reached $2 million and kept creeping up, Pierre would put his face in his hands and hesitate. Long moments would go by as the suspense built, then he would raise the bid by another $10,000.

 

"The heat of the moment, the testosterone, it pushes you up to two-point-five," Pierre said after the auction, adding he really wanted the boat in the $2 million range. "Then sensibleness and my logic kicked in."

 

He was sitting with some IRS agents, and he could feel their encouragement. "Everybody in the IRS was pulling for me," he said. "I felt like they were praying for me, that's why I kept bidding."

 

Rick Levin, one of the auctioneers handling the sale for the government, said he likes to see drama because it means hard-charging, competitive bidding.

 

"There was multiple bidders, active bidding, on every asset," Levin said. "There was drama. You want that, also. You want bidders to go at it to get to the asset value."

 

Bidding was most competitive for the 2008 Ferrari, the Princess Kimberly and the Bugatti, one of the world's most expensive cars, which was lucky Lot 13. Rothstein paid $1.5 million for it in the fall and Euro Motorsport in Fort Lauderdale bought it Thursday for $858,000.

 

Within hours of the auction, the Bugatti was listed on eBay at a starting bid of $949,000. Euro Motorsport also bought the POS for $103,000 and the Mercedes McLaren for $301,000. The POS was listed on eBay at a starting bid of $120,000 and Euro Motorsport was asking $339,000 for the Mercedes on its website. Several of Rothstein's high-end cars were seized at Euro Motorsport after his fraud scheme imploded last November.

 

After the Bugatti sold, the crowd began to thin. Within minutes of the gavel dropping on the final lot, a 2006 Ferrari that sold for $165,000, the exhibition hall was pretty much empty.

 

Peter Franceschina can be reached at [email protected] or 954-459-2255.

There is NO 10% buyers premium on the Govermant Auctions..there is any where from 5-10% buyer and seller premium in the private auctions..like Russo and Steel..Barrett jackson etc etc..

There is NO 10% buyers premium on the Govermant Auctions..there is any where from 5-10% buyer and seller premium in the private auctions..like Russo and Steel..Barrett jackson etc etc..

 

Roy you buy anything?

You mean that you are the only person on this forum that does not own an Expedition stretch limo? Really? Everyone else has one

 

 

I was never one to go with the crowd!