Rebodied Cars … what to do …

June 29, 2012 · Posted in News · Comments Off on Rebodied Cars … what to do … 

Rebodies:
What’s the big deal???

(By: Bryan W. Shook, Esquire)

BShook@shooklegal.com

717-884-9010

I’ve been getting quite a few calls lately seeking information on re-bodied vehicles.  The term “rebody” is a term of art used throughout our hobby to denote a vehicle whose original factory body has been replaced with another “donor” body.  The donor body is then given the original body’s VIN, serial number, data card, trim tag, cowl tag, etc. and then usually and most unfortunately sold to an unsuspecting buyer as the original, real deal automobile.  This problem is complicated when the rebodied car is an “air car” which did not exist prior to the rebody.  Specifically what happens is someone dreams up a car or has the paperwork from a desirable car and makes it from “thin air” using the donor body as the starting point.  All of a sudden, the car has pedigree, provenance and history if the builder can dream up a good enough story.  This is problematic as you can plainly see.

There are several legal issues when it comes to a rebodied automobile.  The most important issue is whether or not the rebody was disclosed to you when you purchased the vehicle.  If the rebody was not disclosed to you how can it be said you negotiated with the seller on equal footing.  Another issue comes from the fact that rarely are rebodys done properly.  Were the police notified of the body replacement as required under some state laws?  Did the seller give you two Certificates of Titles?  (Remember the best bodies come from good cars and in today’s day and age, good cars get restored … was the body stolen and the subject vehicle the product of a “chop shop”)  Did the seller give you photographs of the original body to evidence the condition of the original body?  Do you have confirmation that the original body has been destroyed? (This is usually where the State Police come in as this is where the stories start about two cars registered under the same VIN)

Without the safeguards outlined above, you can never been shore that the vehicle you purchased truly belongs to you.  Under the law you would have a breach of the warranty of title claim if any third party were to ever come after you claiming you own the body to their car.  The problem is  that if you know the car has been rebodied and you can’t provide the above information to a new purchaser you could be just as liable as the seller who sold the car to you should you not disclose what you know to a prospective purchaser.

If you have a rebodied car or think you do, this is a serious matter.  Rebodied cars can be nearly unsaleable and always have questions.  There was way to rectify the situation and there are ways to unwind the transaction which unknowingly left you with the rebody.  In any event, please call me and we can discuss your options and to what extent your car may have been rebodied.

Attorney Bryan W. Shook is not only a devoted automotive enthusiast, but is also an experience litigator who devotes a large portion of his law practice to helping other collectors and hobbyists understand today’s market and protect their automotive investments. Attorney Bryan W. Shook is a seasoned automotive collector and restorer and as such brings real world experience and firsthand knowledge to the table for his clients throughout the world. Although Bryan Shook is headquartered in Camp Hill, Pennsylvania (close proximity to Carlisle and Hershey), Attorney Bryan Shook is available anywhere for consultation, advice, and information, most times, on as short as a day’s notice. If you’d like more information about this topic or would like to speak with Attorney Bryan W. Shook please email him at bshook@shooklegal.com or by phone at 717-884-9010.  More information can be found at Http://www.vintagecarlaw.com.

Bid with Knowledge; Buy with Confidence – Vintage Car Law

Collector Car Market Stands to Gain from Latest Economic Meltdown

August 8, 2011 · Posted in News · Comments Off on Collector Car Market Stands to Gain from Latest Economic Meltdown 

Monterey and Beyond: 
A Prediction for the Collector Car Market

(By: Bryan W. Shook, Esquire)

BShook@shooklegal.com

717-884-9010

With the Monterey Auctions only two weeks away, the eyes of the Collector Car Market are on Wall Street and other world markets.

Gold has surpassed Platinum, S&P has downgraded the United States credit rating from AAA to AA and the stock market is plummeting.  How could this possibly be beneficial to the collector car market, you ask … it’s simple.  The stock market, the bond market, the futures and other typical investment arenas are subject to the debt crisis.  While the Collector Car Market is, in a sense subject to the debt crisis, but not nearly to the extent that the traditional markets are.

This economy is somewhat of a double-edged sword.  On one hand, the current debt crisis has undoubtedly caused more than a few cars to come to market, but on the other hand as investors seek safe havens from the latest market crash the world of collector cars looks like a better and safer investment market every day.  Collectors invest in automobiles because of emotion, artistic adoration and quite simply, memories.  A tangible investment is much easier to quantify than a stock certificate and the same is not as susceptible to the tumultuous economic climate we live in today.

Last year’s $172,000,000.00 in sales will likely be eclipsed this year as investors clamor for the many of the blue chip collectible automobiles that the several major auction houses are going to parade across the block.

Don’t be surprised to see a plethora of domestic and foreign collectors alike flock to Monterey, cash in hand to buy up the consigned cars.  Monterey has, for years been THE PLACE to sell your high-dollar, blue chip car … this year the money will be there more than ever.

Thank you to Standard and Poor and all of the world’s economies responsible for this latest turmoil.

Attorney Bryan W. Shook is a devoted automotive enthusiast, but is also an experience litigator who devotes a large portion of his law practice to helping other collectors and hobbyists understand today’s market. Attorney Bryan Shook is available throughout the United States for consultation, advice, and information. If you’d like more information about this topic or would like to speak with Attorney Bryan W. Shook please email him at bshook@shooklegal.com.

Bid with Knowledge; Buy with Confidence – Vintage Car Law

Economics of Car Valuations

June 8, 2011 · Posted in News · Comments Off on Economics of Car Valuations 

 

The Economics of Vehicle Values

 

The value of an antique car or a collector vehicle is driven by three key factors: desirability, pedigree/provenance and condition.  These three factors fit into an equation which eventually leads to the value of the vehicle.  The weight to be assigned to any of the factors is subjectively based upon the influence any one factor has over another.

 

Let’s take a look at these three factors:

 

Desirability: Although this is a subjective measure, it is fairly easy to quantify.  A desirable vehicle is one that nearly anyone would love to own.  Also vehicles that were produced in limited quantities or with attributes or options not commonly found on contemporaneous models are desirable.  Exotic vehicles are usually desirable on their name alone.  Finally, some vehicles are desirable simply because they are cool.  While every vehicle is desirable to a collector on some level (yes, even the Yugo is desirable if you can find a complete and somewhat running example), it is the level of desirability which drives the value.  The more people who like the vehicle; the more desirable the vehicle is.  Specific years, specific models, or specific options can make an otherwise undesirable or not so desirable vehicle desirable for the purpose of valuation.   Keep in mind however, that although desirability drives just one aspect of the pricing structure it can sway the equation completely.  A fitting example is a Duesenberg.  In any condition, and even without any pedigree or provenance, a Duesenberg will ALWAYS command a relatively high value based purely upon its highly regarded desirability and relatively low production figures.  The weight to assign to desirability can also be dependent upon the year, model, options or scarcity of a model.

 

Pedigree/Provenance: This is where most vehicles are lacking.  Time has a way of erasing memories.  By and large, information about a vehicle’s origins was not something that was discussed when the vehicles were sold, “back in the day.”  Most vehicle owners do not have much information about the vehicle before they acquired it. Therefore, when you come across a vehicle with paperwork or history, dating from new, you are looking at a vehicle with pedigree.  Merriam-Webster defines “pedigree” as the origin or history of something.  Items that add pedigree are copies of old titles, registration paperwork, original sales forms, window stickers, build sheets, factory documentation, certification, etc.

 

Provenance is the history of ownership of the vehicle.  Vehicles that were once owned by movie stars or other public figures tend to be worth more than other similar vehicles.  These same vehicles also tend to have more options or unique features which make them more desirable (see above).  Vehicles that have a known, uninterrupted chain of ownership, from new can also be said to have provenance. Nevertheless, the weight assigned to this form of provenance is obviously not the same as the weight assigned to a chain of celebrity ownership or ownership within a large nationally recognized vehicle collection or museum.  For provenance to be given appropriate weight, it must be substantiated with documentation.

 

A vehicle with either pedigree or provenance is worth more than a similar vehicle without.  A vehicle with these attributes is sometimes referred to as a “no stories” vehicle.

 

Condition: This third and final factor is the “make it or break it” for most vehicles.  Even if a vehicle has good desirability and pedigree and/or provenance, it likely won’t influence the value of the vehicle as much as condition.  A vehicle with in superb original condition (i.e. extremely well-kept since new) or a vehicle which has been restored or built/rebuilt to an extremely high level is worth more than a similar vehicle needing restoration or a similar vehicle in a deteriorated condition.  In recent years we have seen a push for original vehicles.  As the appreciation for these examples has risen, so has the weight assigned to originality with respect to valuation.  (Note: An overwhelming public appreciation for a particular vehicle or vehicle trait tends to also weigh heavily on desirability).  The more original a vehicle or the better the restoration of the vehicle, the more the vehicle is worth; period.

 

Although the equation into which these three areas are plugged is somewhat objective on its face, the weight assigned to any one area is subjectively based upon the knowledge, expertise, and experience of the person assigning the value.

 

Any attempt to confidently assign a fixed weight to any of these three areas would be illogical.  There are far too many vehicles with far too many options, characteristics, stories, and degrees of condition to allow for such a rigid valuation method.  Each vehicle must be evaluated first on its own merits and then against similar vehicles with known sales to find a comparable sale.  Then the comparable sales must be evaluated to see how closely they match the subject vehicle.  The closer the comparable sale, the closer your estimate of value will be to the actual value of the subject vehicle.  You must however, keep in mind some principles of economics such as, market saturation versus scarcity, preferences, and rationality (i.e. marginal cost versus marginal benefit).

 

This theoretical approach to the economics of car valuation should provide you with an understanding of why one vehicle is worth so much more than another. The equation described here should be view as a template which along with the expertise of a seasoned professional will likely allow you to confidently arrive at a value for your particular automobile given the economics discussed herein.

 

Attorney Bryan W. Shook is a devoted automotive enthusiast, but is also an experience litigator who devotes a large portion of his law practice to helping other collectors and hobbyists understand today’s market. Attorney Bryan Shook is available throughout the United States for consultation, advice, and information. If you’d like more information about this topic or would like to speak with Attorney Bryan W. Shook please email him at BShook@shooklegal.com

 

Bid with Knowledge; Buy with Confidence – Vintage Automotive, LLC

The Status of Vehicle Titles in Pennsylvania

January 17, 2011 · Posted in News · Comments Off on The Status of Vehicle Titles in Pennsylvania 

The Status of Vehicle Titles in Pennsylvania

By:   Bryan W. Shook, Esquire

bshook@shooklegal.com

BUYING A VEHICLE WITHOUT A TITLE

 In the realm of car collecting, one thing can cloud a bargain more than anything else, a vehicle with no title.  The statement “no title” or “sold on bill of sale only” is usually enough to make most potential purchasers turn and run, FAST.  But should it really scare us away? Perhaps, but not without good reason.

 A vehicle sold without a certificate of title is a vehicle sold with questions.

Before you purchase any vehicle without a title, you must ask yourself the following. 

  1. Why doesn’t the seller have a title to transfer to me?
  2. Is the vehicle listed in either the NMVTIS or the NICB VinCheckSM?
  3. How am I going to get a certificate of title in my name?

Why doesn’t the seller have a title to transfer to me?

The most obvious question is why does the seller not have a title to the vehicle?  There are many potential answers to this question that should be asked prior to negotiating for the purchase of this vehicle.

For instance, the vehicle could be missing its title because it was previously salvaged and somehow escaped destruction (i.e. crushing); or worse yet, the vehicle could be stolen.  These are reasons to RUN, FAST!!!

Often the case, however, is that the vehicle was abandoned, so to speak, by the last owner who held a certificate of title. This usually happened when the vehicle had fallen into such a state of disrepair that the condition and its value at the time made the title and registration of the vehicle a moot point.  Accordingly, whoever acquired the vehicle from the last person may not have requested a transfer of the title for these, or similar reasons.

The answer to this first question often tells you 90% of what you need to know.  Trust your instinct.  If the story sounds fishy or otherwise unbelievable; it probably is.

Is the vehicle listed in either the NMVTIS or the NICB VinCheckSM?

Before you purchase a vehicle without a title you should run the VIN through two sources.  The first is an initiative of the United States Department of Justice located at http://www.vehiclehistory.gov/ and known as the National Motor Vehicle Title Information System (NMVTIS).  The NMVTIS is designed to thwart the registration of stolen vehicles and prevent title fraud.  An important note, however, when researching the NMVTIS for collector cars, is that the system is still in its infancy and relies upon information uploaded from individual states.  Results of the NMVTIS include where the vehicle was previously registered and if it has ever been reported stolen or had any other title issues in the past.  With respect to antique and other older collectible vehicles, it is possible that some “older” thefts may have slipped through the cracks. So, don’t rely too heavily on the results of the NMVTIS search if it comes back with no record found.  This is why it is important to also check the second source.

 The second source that should be checked is the National Crime Insurance Bureau’s (NCIB) VinCheckSM.   This database includes information regarding whether a vehicle has been reported stolen. The link to search the NCIB database is https://www.nicb.org/theft_and_fraud_awareness/vincheck .

 Importance of an Adequate Bill of Sale

 If you choose to go ahead with the purchase and buy the vehicle, it is highly recommended that you have the seller give you a bill of sale for the vehicle.  It is important that the bill of sale identify the vehicle by year, make, model and VIN.  The seller should state something to the effect that they are delivering you the absolute rights of possession and ownership of the vehicle.  The seller should also state that to the best of his/her knowledge the vehicle is not stolen and how they acquired the vehicle and from whom.  Of course the bill of sale should also indicate the date of the transaction and full contact information for both you and the seller.  This will ensure compliance with 13 Pa. C.S.A. § 2401 and will assist you in the acquisition of a certificate of title down the road.

 How am I going to get a certificate of title in my name?

The current laws in Pennsylvania contemplate only scenarios in which certificates of title are transferred with every vehicle transaction.  Therefore, by extension, the law fails to contemplate a scenario in which a person or entity would acquire a vehicle or vehicles for which no owner can produce and accordingly transfer a certificate of title. 

Similarly there appears to be no law, regulation or procedure, formally in place, for the motioning of the Court for a declaration of ownership of a motor vehicle so as to permit Penndot to issue a new certificate of title to memorialize the current owner and allow for registration of the automobile.  Further it is important to note that Penndot has unfortunately purged many of their old motor vehicle records, including ownership and registration records.  As a result, Penndot openly states that “[v]ehicle record information is available for the past 10 years only.”  Penndot Form DL-135 (Rev. 9-10).  Obviously this practice of record retention leaves open many scenarios whereby an owner cannot acquire a certificate title because Penndot has no record of ever issuing one.

What can be done to acquire a title?  One solution is to Petition the Court of Common Pleas in Pennsylvania.  Attorney Bryan Shook can assist you with this.  He can be reached at BShook@shooklegal.com.

Legal History Lesson:

Vehicle titles in Pennsylvania are often the most misunderstood aspect of vehicle ownership.  This is because of historically misinterpreted and misunderstood notions of what exactly constitutes “ownership” of a motor vehicle in Pennsylvania.

Under the Pennsylvania Motor Vehicle Code, an “owner” is defined as:

A person, other than a lienholder, having the property right in or title to a vehicle. The term includes a person entitled to the use and possession of a vehicle subject to a security interest in another person, but excludes a lessee under a lease not intended as security.

75 Pa. C.S.A. § 102.

The Superior Court has described titles and ownership this way;

[i]n Braham & Co. v. Steinard-Hannon Motor Co., 97 Pa.Super. 19, 23 (Pa. Super. Ct. 1929), though it involved the interpretation of earlier legislation concerning motor vehicles, the following language of Judge, later President Judge, Keller is nonetheless pertinent and applicable to The Vehicle Code of the present day: ‘It is clear that the primary purpose of the Act of 1923, supra, was to protect the public against the theft of automobiles and their resale by the thief, and to facilitate the recovery of stolen automobiles. It was a police measure, and was not designed to establish the ownership or proprietorship of the car, * * *.’ And at page 25, of 97 Pa.Super. Judge Keller said: ‘It follows that the act does not provide nor intends to provide that the ‘certificate of title’ shall determine the absolute ownership of the car, or alter or affect in any manner the actual ownership of the vehicle and the relations of the persons interested in it. It only requires registration by the person entitled to its possession and in control of its operation. The certificate is not a warrant of ownership or muniment of title as usually understood in the law. It may be relevant evidence in establishing such title.

Weigelt v. Factors Credit Corp., 174 Pa.Super. 400, 404, 101 A.2d 404, 406 (Pa. Super. Ct. 1954)

The idea that a vehicle may have both a legal and an equitable owner was recognized by the Commonwealth Court in Dept. of Trans. v. Walker, 136 Pa.Cmwlth. 704, 584 A.2d 1080 (1990).  The Court in Walker stated that “[i]t follows that Section 102 of the [Vehicle] Code does not provide nor intend to provide that title to a motor vehicle shall determine absolute ownership of such. In fact, our research reveals that in Pennsylvania, the certificate of title constitutes no more than some evidence of ownership.”  Id., 584 A.2d at 1082, citing Semple v. State Farm Mutual Automobile Insurance Co., 215 F.Supp. 645 (E.D.Pa.1963). See also Aetna Casualty & Surety Co. v. Duncan, 972 F.2d 523 (3d Cir.1992) (under Pennsylvania law, a state-issued certificate of title is in no way controlling on the question of ownership).

The courts of Pennsylvania look to see who it is that in fact possesses the attributes commonly associated with ownership.  Aetna Casualty & Surety Co., at 526.    The elements of ownership that Pennsylvania looks at are the elements of use, benefit, possession, control, responsibility for, and disposition of the automobile.  Wasilko v. Home Mut. Cas. Co., 210 Pa.Super. 322, 326, 232 A.2d 60, 62 (Pa. Super. Ct. 1967).

Conclusion

In summation, although you may not have received an actual certificate of title when you purchased your vehicle, you still most likely own the vehicle.  This is barring any type of theft in the vehicle’s past or another “owner” stepping in and challenging your interest while asserting that their interest is legally better than yours. 

With this in mind, the motioning of the Courts for a declaration that you are the owner of the vehicle, and therefore entitled to a certificate of title from Penndot is often your best bet in getting the vehicle properly titled and on the road.  The declaration of ownership is possible if you have actual legal ownership of the vehicle.  The court will, to the extent that it is able, extinguish the rights and interests of all others, whom you are able to find and notify of the proceedings, in the vehicle.  This will ultimately allow you to register and enjoy your vehicle without having the issue of not having a title hanging over your head and clouding your “ownership” of the vehicle.

Finally, always remember that a vehicle sold without a certificate of title is a vehicle sold with questions.  This, however, does not absolutely mean that the vehicle can never again be titled.  It does however underscore the need for the exercising of enhanced due diligence throughout the transaction.

The above information is in no way meant to be construed as anything more than general information.  The above information is not legal advice.  The author encourages you to seek the help of an attorney any time you are contemplating the purchase of a vehicle without a certificate of title.  Further THE AUTHOR ASSUMES NO RESPONSIBILITY AND ACCEPTS NO LIABILITY FOR ACTIONS TAKEN BY USERS OR READERS OF THIS DOCUMENT, INCLUDING RELIANCE ON ITS CONTENTS.  It is strongly encouraged that you seek legal counsel for all matters related to a collector or antique vehicle purchase given the amount of money involved and the rarity of the vehicles.  This information is not intended nor does it create an attorney-client relationship. 

This page includes links for your assistance only.  This page is in no way associated with the NCIB page or the NMVTIS. 

Bryan W. Shook, Esquire is a devoted automobile enthusiast.  Attorney Shook would be glad to help you with any vehicle title issues you may have including lost titles, no titles, bill of sale transactions, etc.  Attorney Shook is a collector and as a collector knows the ins and outs of the hobby, let Attorney Shook’s legal knowledge of the collector car hobby work for you.  Attorney Bryan Shook can be reached at 717-884-9010 or by email at BShook@shooklegal.com.  For more information – http://www.vintagecarlaw.com.

The Sincere Definition of Numbers Matching

January 2, 2011 · Posted in News · Comments Off on The Sincere Definition of Numbers Matching 

Numbers Matching: From a Legal Standpoint

By:  Bryan W. Shook, Esquire

Attorney-at-Law

BShook@shooklegal.com

A seller, an auction house, a broker, etc., all have express duties to not mislead buyers.  It is the presentation that entices and induces a prospective buyer to make an offer or bid on a car.  Often included within this presentation is the phrase “numbers matching”.  Rarely in any field does a single term mean so much; in the field of car collecting, the term “numbers matching” means everything; or does it?

The phrase “numbers matching” was coined an untold number of years ago to describe a vehicle which retained its original driveline (i.e. the driveline that was installed into the vehicle during its initial assembly at its manufacturer’s plant).  Specifically and most important in this definition is the engine; as this is the single most important aspect of a vehicle’s originality.  There are some in the hobby, however that would have you believe that the phrase “numbers matching” has parted ways with its original and understood definition.  These individuals would have you believe that the phrase “numbers matching” means that the driveline, has numbers appearing on its components, that look as though they could have been placed on there during the initial assembly process on the manufacturer’s line.  This is where the issue with restamped engines and transmissions becomes ever apparent.

This disingenuous play on words is polluting our hobby.

Numbers Matching means ORIGINAL; the phrase and the meaning of “numbers matching” have never parted company.  Numbers matching still means, as it always has, that the engine, transmission and rear axle are original to that particular vehicle.  For the phrase to have any other meaning would render it flawed and unnecessary.  The use of the phrase “numbers matching” in a disingenuous fashion opens the seller to a high level of legal exposure.  The buyer who learns after he purchases the vehicle that the vehicle, is not “as advertised”, has the right to revoke his acceptance of the vehicle and enjoys many protections that come along with legal revocation.  For example, these protections could include a statutorily created security interest in the vehicle up to the amount paid for the vehicle, plus certain expenses and other damages.

Any misleading use of the phrase “numbers matching” blackens the eye of the hobby.  The only reason one would use such a deceitful definition of “numbers matching” would be in a calculated attempt to mask the true nature of the vehicle for self-serving purposes.  This ultimately has a negative impact on the hobby. 

For more information on what your rights are in such a transaction, please call or email me, I would be more than happy to discuss this or any other matter concerning car collecting with you.

Bryan W. Shook, Esquire is a licensed Pennsylvania lawyer.  Attorney Shook’s office is headquartered in central Pennsylvania although his practice takes him across the country. During his career, Attorney Bryan Shook has become a powerful advocate for his clients and one of the foremost collector, antique and automotive fraud and misrepresentation attorneys in the country. He has successfully tried as well as amicably resolved cases throughout the United States.  Bryan Shook can be reached by e-mail at BShook@shooklegal.com or by phone at 717-884-9010. 

Bid with Knowledge; Buy with Confidence – Vintage Automotive

Fall Auctions – What Lies Ahead?

August 17, 2010 · Posted in News · Comments Off on Fall Auctions – What Lies Ahead? 

So now that Monterey is over, what lies ahead?

By all accounts Monterey was a success; collectors once again proved that no-nonsense cars still bring big money.  The collector car market is alive and well.  There were 14 cars alone that sold for more than $1,000,000.00 during RM’s Saturday night sale in Monterey.  Similarly other auctions around the peninsula reported big numbers and record bidders.

So, what lies ahead?  The fall is packed with great auctions which plan to offer something for everyone.   Here is a sampling:

  • September 2nd through 5th, 2010 – Auburn Collector Car Auction – Auctions America by RM
  • September 16th through 19th, 2010 – Mecum’s St. Charles Illinois sale
  • September 23rd through 25th, 2010 – Barrett Jackson – Las Vegas
  • September 30th through October 1st, 2010 – Carlisle, Pennsyvlanaia – Carlisle Auctions held in conjuctionw ith Fall Carlisle Swap Meet
  • October 7th through 8th, 2010 – RM Auctions – Vintage Motorcars of Hershey
  • November 5th through 6th, 2010 – The Bob McDorman Collection (featuring one of the world’s most complete collection of Corvettes) – Mecum Auctions

Attorney Bryan W. Shook is a devoted automotive enthusiast, but is also an experience litigator who devotes a large portion of his law practice to helping other collectors and hobbyists understand today’s market.  Attorney Bryan Shook is available throughout the United States for consultation, advice, and information. If you’d like more information about this topic or would like to speak with Attorney Bryan W. Shook please email him at BShook@shooklegal.com

Bid with Knowledge; Buy with Confidence – Vintage Car Law 

United States Congress sets National Collector Car Appreciation Day as July 9, 2010

May 8, 2010 · Posted in News · Comments Off on United States Congress sets National Collector Car Appreciation Day as July 9, 2010 

NATIONAL COLLECTOR CAR APPRECIATION DAY

By: Bryan W. Shook, Esquire

Email: bshook@shooklegal.com

May 4, 2010 – At the persuasion of the SEMA Action network with assistance from automotive restoration manufacturers association (ARMO), the United States Senate approved Senate Resolution 213 on May 4, 2010.   The Resolution sets National Collector Car Appreciation Day as July 9, 2010.  Local, regional and national events to celebrate the newly enacted appreciation day are being developed across the country.  This marks a large step forward in collector car hobby. 

The resolution, which can be viewed online at http://thomas.loc.gov/cgi-bin/query/z?c111:S.RES.513: states that:

 

Designating July 9, 2010, as `Collector Car Appreciation Day’ and recognizing that the collection and restoration of historic and classic cars is an important part of preserving the technological achievements and cultural heritage of the United States.

Whereas many people in the United States maintain classic automobiles as a pastime and do so with great passion and as a means of individual expression;

Whereas the Senate recognizes the effect that the more than 100-year history of the automobile has had on the economic progress of the Nation and supports wholeheartedly all activities involved in the restoration and exhibition of classic automobiles;

Whereas collection, restoration, and preservation of automobiles is an activity shared across generations and across all segments of society;

Whereas thousands of local car clubs and related businesses have been instrumental in preserving a historic part of the heritage of this Nation by encouraging the restoration and exhibition of such vintage works of art;

Whereas automotive restoration provides well-paying, high-skilled jobs for people in all 50 States; and

Whereas automobiles have provided the inspiration for music, photography, cinema, fashion, and other artistic pursuits that have become part of the popular culture of the United States: Now therefore, be it

Resolved, That the Senate–

(1) designates July 9, 2010, as `Collector Car Appreciation Day’;

(2) recognizes that the collection and restoration of historic and classic cars is an important part of preserving the technological achievements and cultural heritage of the United States;

(3) encourages the Department of Education, the Department of Transportation, and other Federal agencies to support events and commemorations of `Collector Car Appreciation Day’, including exhibitions and educational and cultural activities for young people; and

(4) encourages the people of the United States to engage in events and commemorations of `Collector Car Appreciation Day’ that create opportunities for collector car owners to educate young people on the importance of preserving the cultural heritage of the United States, including through the collection and restoration of collector cars.

Attorney Bryan W. Shook is not only a devoted automotive enthusiast, but is also an experience litigator who devotes a large portion of his law practice to helping collectors and hobbyists understand today’s market. Attorney Bryan Shook is available throughout the United States for consultation, advice, and information. If you’d like more information about this topic or would like to speak with Attorney Bryan W. Shook please email him at BShook@shooklegal.com

Bid with Knowledge; Buy with Confidence – Vintage Car Law

Mid Atlantic Regional NCRS Meet – Gettysburg, PA – May 6-9-2010

April 27, 2010 · Posted in News · Comments Off on Mid Atlantic Regional NCRS Meet – Gettysburg, PA – May 6-9-2010 

NCRS REGIONAL MEET IN GETTYSBURG, PENNSYLVANIA SCHEDULED FOR MAY 6-8, 2010

By: Bryan W. Shook, Esquire

Email: bshook@shooklegal.com

 

Call all Corvette enthusiasts, after a long winter’s wait, the Mid-Atlantic Chapter of the National Corvette Restorers Society is hosting the Gettysburg Regional NCRS Meet on May 6-8, 2010.  This is a can’t miss event for East Coast Corvette Enthusiasts.

Several special vehicles are scheduled to be on display including a low mileage, all original, Polo Green, 1994 Chevrolet Corvette ZR1 formerly of the Chip Miller Collection.  The car’s current owner, Andrew Saft of Harrisburg, is proud to offer this important ZR1 for flight judging.  Corvettes released from the prized Chip Miller Collection have been known throughout the hobby for years for their quality, provenance and pedigree.  This NCRS appearance represents a coming out of sorts for the current Saft Collection ZR1.  While ANY ZR1 is exciting both to see and drive, this particular all original ZR1 is sure to please the spectators and enthusiasts that get an opportunity to view it at the 2010 Mid-Atlantic Regional Meet next week.

 The NCRS flight process is not a process to be taken lightly, only the best cars are awarded flight awards and any owner who leaves Gettysburg with such an award has surely added much deserved province to his or her beloved Corvette.  Best of Luck!

Attorney Bryan W. Shook is not only a devoted automotive enthusiast, but is also an experience litigator who devotes a large portion of his law practice to helping other collectors and hobbyists understand today’s market.  Attorney Bryan Shook is available throughout the United States for consultation, advice, and information. If you’d like more information about this topic or would like to speak with Attorney Bryan W. Shook please email him at BShook@shooklegal.com.

 

NCRS # 51181

 

Bid with knowledge. Buy with confidence. – Vintage Car Law

Estate Sale of Important Cars Nets Nearly $500,000.00

April 27, 2010 · Posted in News · Comments Off on Estate Sale of Important Cars Nets Nearly $500,000.00 

30+ Antique Cars Sell for $494,400.00 at Rural

 

Pennsylvania Sale

 

By: Bryan W. Shook, Esquire

Email: bshook@shooklegal.com 

Estate Sale – Allen Shaffer, Esquire

April 24, 2010 – Millersburg, Pennsylvania

 

Allen Shaffer, a well respected local attorney recently passed away and this past Saturday the majority of his car collection came to sale.  Over thirty lots were offered with no reserve, no bidder registration charges and with no buyers premium.

 

By the mid afternoon, all of the vehicles had been sold and the proceeds realized were just about $500,000.00 from the sale of the vehicles.

 

Here are the results along with the comments of Bryan W. Shook who personally attended the sale.

 

Year

Make

Model/Type

Comments

Price

1931

Ford

Model T – 5 -Window Coupe

 

$19,000.00

1981

Delorean

   

$20,000.00

1923

Buick

Touring

bad water pump – lower hose disconnected & pump corroded

$18,000.00

1949

Studebaker

Commander convertible

Nicely Restored

$25,000.00

1917

Maxwell

Touring

Restored 10yrs ago – didn’t run at time of sale

$17,000.00

1925

Nash

2dr Sedan

Nicely Restored

$11,000.00

1915

Ford

Model T

 

$13,000.00

1925

Nash

Touring

Great Condition, very nice car

$20,000.00

1913

Buick

Touring

No Title – Yet

$28,000.00

1929

Lincoln

7 Passenger Phaeton

$65,000.00

1910

Buick

Run-a-bout Roadster

 

$20,000.00

1908

International

High-Wheeler

Nice Original – found in barn in New Bloomfield, Perry County, Pa in mid 1940s

$19,000.00

1953

Ford

F100

Titled as 1954 – OHV I6

$15,500.00

1906

Cadillac

Tulip Roadster

 

$54,000.00

1954

Ford

Crestline 4dr

Needed work & carpeting

$8,000.00

1917

Studebaker

Touring

Nice older restoration

$23,500.00

1962

Studebaker

Lark convertible

 

$7,500.00

1927

Ford

Coupe

 

$8,000.00

1972

Chevrolet

Impala convertible

Shoddy Repaint – overspray evident, poorly masked

$9,000.00

1918

Stanley

Steamer Touring

 

$46,000.00

1976

Lincoln

Continental

 

$1,600.00

1922

Dodge

Touring

3 owners from new, had side window curtains – very nice potential

$9,000.00

1976

Buick

LeSabre

 

$1,300.00

1922

Whippet

4dr sedan

 

$9,000.00

1999

Ford

F150 pickup truck

6cyl 4wd

$8,000.00

1951

Kaiser

4dr sedan

No Title

$5,000.00

1965

Chevrolet

Corvair

Possible missing VIN Plate??? Total Mess

$1,800.00

1951

Henry J

Corsair Deluxe

Cooling Issue

$8,500.00

1969

AMC

Rebel SST 4dr Sedan

6cyl – Very Nice Original

$1,200.00

1958

Mercedes

190D – 4dr

Project car with good parts, some trim, but hood wouldn’t open

$500.00

1991

Yugo

 

“Needs Fuel Pump”

$2,000.00

 

                                                                                                                                Total Sales:         $494,400.00                                                                                                      

 

       

As one can surmise from the results listed above, the sales prices were fairly reflective of the market today.   While the auction was largely under promoted, collectors, brokers and dealers showed up from several states including, Ohio, New York, Connecticut, Maryland and New Jersey to bid on and buy cars and automobilia from this great collection.

Most of the cars in the collection were operational and nearly all of them presented very well.  The cars purchased from this collection are sure to be coveted pieces in future collections.  While higher prices may have been realized had an auction house such as Carlisle Auctions, RM Auctions, Bonhams or Goodling offered the vehicles, this sale proves that not all collections must be sold through a large auction venue to achieve market value results.

Attorney Bryan W. Shook is not only a devoted automotive enthusiast, but is also an experience litigator who devotes a large portion of his law practice to helping other collectors and hobbyists understand today’s market.  Attorney Bryan Shook is available throughout the United States for consultation, advice, and information. If you’d like more information or would like to speak with Attorney Bryan W. Shook please email him at BShook@shooklegal.com.

Bid with knowledge. Buy with confidence. – Vintage Car Law

Cruisin’ Ocean City 2009 – May 14-17, 2009

May 8, 2009 · Posted in Uncategorized · Comment 

Attorney Shook to present Car Collecting 101 Seminar on Friday, May 15, 2009 1pm – Ocean City, Maryland

By: Bryan W. Shook, Esquire

Email: bshook@shooklegal.com

 

 Special Event Productions, Inc. presents Cruising Ocean City 2009 on May 14 through May 17, 2009 in beautiful Ocean City, Maryland.  The event is SOLD OUT with more than 3,000 pre-1977 hot rods, customs, street machines, classics and antiques.  The epicenter of the event can either be considered the inlet parking area or the Ocean City Convention Center at 40th Street.  There will be manufacturers and venders of specialty automotive parts and supplies at both locations.   Additionally, there will be approximately 30 shows throughout Ocean City that are sure to attract some of the best cars around.

 On Friday at 12:00pm Express Auctioneers will hold their 2nd Collector Car Auction during Cruisin’ Ocean City.  Back by popular demand, the Auction is chocked full of great cars that anyone would enjoy cruisin’ up and down Coastal Highway in during the weekend.  Anyone having an interest in selling their car or buying a car should contact Bernie at 443-807-8883 or email him at cholhaus@expressauction.com. For more information on the Auction, be sure to visit http://occollectorcars.com/. The auction is free to attend for all Cruisin’ participants and spectators.

Attorney Bryan Shook, has been chosen to present his seminar, Car Collecting 101 prior to the Auction at 1pm.  Car Collecting 101  How to Avoid the Most Common Pitfalls & What you Need to Know plus Questions & Answers 

Discussion Topics include: Collecting Basics, How to determine what to spend, Importance of papers/history, Protecting yourself, Pre-purchase inspections, Appraisals, Proper Insurance, Collection management, What’s Hot & What’s Not, and the Latest Trends in the collecting hobby

 Remember a well prepared buyer is usually a happy buyer!

Attorney Bryan W. Shook is a devoted automotive enthusiast, but is also an experience litigator who devotes a large portion of his law practice to helping other collectors and hobbyists understand today’s market.  Attorney Bryan Shook is available throughout the United States for consultation, advice, and information. If you’d like more information about this topic or would like to speak with Attorney Bryan W. Shook please email him at BShook@shooklegal.com

Bid with Knowledge; Buy with Confidence – Vintage Car Law

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