Pair of ZL1 COPO's... at Auction.. :)

[69Z28-RS]

For the well-heeled Camaro lovers....   auction estimate $1.1M... 

https://www.hemmings.com/blog/2018/01/05/mecum-to-offer-a-pair-of-zl1-copo-camaros-as-a-single-lot/?refer=news

[BULLITT65]

I read the 1.1M to be the reserve, not the estimate?

Either way it is going to take some deep pockets to own them. I doubt it will sell as a complete lot. You are into Cobra or Ferrari money at that point, and I don't think people put Pony cars on that level. (even 2 of them) Just my 2 cents

[jdv69z]

I didn't know that they disclosed the reserve?

[BULLITT65]

The Hemmings article said
"Mecum’s online catalog lists the pre-auction estimate at $1,250,000 to $1,750,000, making this a sale for the most serious and well-heeled of muscle-car collectors. In an unusual move that we applaud for its transparency, Mecum also lists an “announced reserve” of $1,100,000, giving a very clear and distinct floor to what it will take for this pair of pedigreed muscle cars to find a new home."

So they are estimating high, but did reveal the reserve so nobody thinks of getting these under a Mill.

[bcmiller]

 A bit too pricey for most.  Definitely too pricey for me.

Just put a stroked 454 with some goodies in it - and you can be faster than those cars with any ‘ole Camaro.

[Kelley W King]

Well IF I was, at least I would know whether to show up or not.

[hgger69]

Read of them before, isn't Gas Monkey and RR the sellers? 

[maroman]

I would think it's hard enough to get top dollar for one car let alone two.

[BULLITT65]

I would think it's hard enough to get top dollar for one car let alone two.

X2

[cook_dw]

Sold $1.21M

[jdv69z]

Never ceased to be amazed by how much money is out there, or is it debt?? 

[69Z28-RS]

Wow...  and if the buyer keeps them together until he sells them as a pair, he'll probably make $$ too...

[motorman]

the buyer most likely had a big capital gains tax to pay and now since he reinvested the money in a collector car he skips the capital gains taxes for now.  it is like the charity auctions all the money over the list price they pay is tax deductible.

[69Z28-RS]

the buyer most likely had a big capital gains tax to pay and now since he reinvested the money in a collector car he skips the capital gains taxes for now.  it is like the charity auctions all the money over the list price they pay is tax deductible.

For that to happen, it needs to be a 'like kind' exchange...  ie.  the capital gain he's deferring tax on would have to have come from selling *another collector car' for the tax to be deferred based on buying another collector car...  in other words, he can't defer tax on a capital gain made in the stock market by purchase of a collector car...