Auction results

Bill

Bill

Senior Member
The auction that included a 46/48 woodie along with a Sportsman with a replacement wood body took place this weekend I think. Lost the link.If I got the date correct does anyone know the results? Thanks Bill
 
Dug back 11 pages its actually the Rod Butler /Don McCredie auction. Auction page has been taken down. Don't know if they will post the results. Jeff Yeagle you out there?
 
The county I live in in Ohio gets you for 7.25%! The state has collected more in taxes on some of these old cars than they cost new! If the state thinks you didn't pay the 'fair value' they will come after you for what they think you should pay! I think it is a bunch of BS myself! Where do these taxes stop?!
 
Is the registration a one time deal when you acquire the car? Or is it a yearly thing?
Over here a car is registered once when it's put on the road. For cars built before 1976 (its a rolling 40 year thing, so next year it'll be 1977) these years here May not be exact, I have no cars in this age group, but close enough. These cars are yearly road tax exempt. Go to stuff built before 1960 and they are also exempt from a yearly MOT test, a road worthiness test. All must have insurance, which on old stock stuff is normally under £100.
Thanks
Martin.
 
estout81 said:
The county I live in in Ohio gets you for 7.25%! The state has collected more in taxes on some of these old cars than they cost new! If the state thinks you didn't pay the 'fair value' they will come after you for what they think you should pay! I think it is a bunch of BS myself! Where do these taxes stop?!
Click to expand...

Exactly. Who is the state to decide what an antique car is worth? 'Fair Value?' That is totally objective.
 
DavidG, post #3 refers to Barret Jackson auction. Post #7 refers to the cars in Michigan, no one knows the outcome of the auction though.
 
We are extremely lucky in Georgia. We had a couple of old car guys in the legislature that got a bill passed that any car over 25 years old, I think it is, is valued at no more than $100.00 for tax purposes. Restored or not. Been on the books now for several years.
 
Scott H in Wheaton said:
Illinois, you pay regular sales tax on newer cars, around 7%, but on cars older than xxx years its a flat tax of $25.
Click to expand...

That's not entirely correct. It's only $25 if the sale price was less than $15K. Over $15K and there is a graduated tax from $750 up to $1500. See here: http://tax.illinois.gov/TaxForms/Sales/VehicleUseTax/RUT-5.pdf
Note that this only applies to private party transactions, not dealer transactions. Dealer sales are a percentage rate which can vary by municipality, but is generally between 6-7%.

(We're a bit far afield from the original question, but I guess I'll stay afield)
 
In Illinois it is a 5% tax on antique cars that sell for $20K and up. Flat tax under $20K. That is what they hit me for in 2007. You have to show them a Bill of Sale, if they think you are trying to low ball them they set the price. Usually not a good outcome. For you.

Another old car came into my possession in 2013. Car valued under $20K I think they charged me $100 tax I'd have to go look it up. Going from memory here.
 
You must log in or register to reply here.
Back
Top