Author Topic: '67 250 at IRS Auction in Tumwater WA  (Read 6707 times)

roadsterdude

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'67 250 at IRS Auction in Tumwater WA
« on: February 03, 2011, 20:40:32 »
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

goodcompany

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Re: '67 250 at IRS Auction in Tumwater WA
« Reply #1 on: February 09, 2011, 21:27:48 »
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  :)

Ulf

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Re: '67 250 at IRS Auction in Tumwater WA
« Reply #2 on: February 10, 2011, 07:51:49 »
Can't help feeling a little sorry for the (involuntary) seller though...must be a bummer to have your car confiscated by the IRS :-(
1965 230 SL in silver (DB180)
1982 Land Rover Series III SWB
2008 Jaguar XF 3.0
2005 Mini Cooper

roadsterdude

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Re: '67 250 at IRS Auction in Tumwater WA
« Reply #3 on: February 10, 2011, 13:46:43 »
Ulf, I agree, but it is not the car's fault - it deserves a good home  :'(

peterm

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Re: '67 250 at IRS Auction in Tumwater WA
« Reply #4 on: February 10, 2011, 16:13:47 »
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.

roadsterdude

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Re: '67 250 at IRS Auction in Tumwater WA
« Reply #5 on: February 24, 2011, 22:18:50 »
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?

Ulf

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Re: '67 250 at IRS Auction in Tumwater WA
« Reply #6 on: February 25, 2011, 15:12:28 »
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
1965 230 SL in silver (DB180)
1982 Land Rover Series III SWB
2008 Jaguar XF 3.0
2005 Mini Cooper

peterm

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Re: '67 250 at IRS Auction in Tumwater WA
« Reply #7 on: February 25, 2011, 21:43:58 »
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

roadsterdude

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Re: '67 250 at IRS Auction in Tumwater WA
« Reply #8 on: February 25, 2011, 22:23:17 »
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.