This is a once in a lifetime opportunity. You need to take emotion out of the equation. Having considerable experience with auctions and those who purchase from auctions it is my suggestion that you take the reserve off sooner rather than later and set a higher Buy It Now price. I know many buyers who will never place a bid on a reserve auction. I understand the purpose of reserves and you were right to start with one. This story will pick up steam but you may miss out on some serious bidders that don't want to be pawns in pushing a price where they have no chance. In traditional auctions it is very common for the auction house to push the bid to close to the reserve when no one has placed a bid. Only when you have released the reserve will anyone take the auction more seriously than a publicity stunt. With the reserve off and the higher Buy It Now you might just be surprised with someone coming in and taking the Buy It Now even though it may be tens of thousands higher than the current bid. Please take my advise in the spirit it is given. Don't look back and miss your 15 minutes. Best of luck.

 

I don't see the difference on which platforn or auction the car is placed on. It will not change what the car represents. He should stick it out to the last minute. If he does he will likely be pleasantly surprised.

The only thing he has to worry about is the capital gains taxes. At this stage the priority should be consulting an accountant and become familiar with the tax laws as to be prepared on the government's cut. Hopefully it will not be similar to short term flipping stocks and additional penalty fees.

 

I think right now eBay is the most effective auction for his car. BJ is one that he'd have to wait on, and on top of that, has a much larger (IIRC) cost to use than eBay. I look at them as two different crowds.

 

I say more power to him and I'm excited for him! I go to his auction at least once a day to see how high it is going to go. He chanced into this deal and he is reaping a windfall, I don't blame him and I wouldn't have blamed the dealer if they had realized they had 001 and had done the same thing. The dealer got 001 by chance too.

Now Shane, you just need to take the extra profits above what it costs to replace 001 and throw a big party for the rest of us Boss owners/ people waiting to be Boss owners!

 

Because most people get upset with dealers charging ADM's, etc. Shane is just selling what he OWNS to the highest bidder.

 

So you are implying that one is OK and the other is not...?

 

US $79,001.00 21k to go... will he make it!!

 

Is 001 Boss a collectible?

 

i cant take the reserve off at this point, i still have a local collector looking at the car and i want to give him a chance since i know he would take care of it and DRIVE it. the reserve isn't exactly a secret, its $100,000. two people have bid it up to that and then cancelled bids. don't know if it will go that high, but its **** close in the realm of things after less than half the auction. i was thinking about adding a BIN just to give people an idea what i am looking at on the car so they can move on if its out of reach for them. i am also getting tons of ebay messages form people asking about the car and pricing that i have been upfront about with the reserve. im not trying to be sneaky, i am trying to do what i said all along, sell it and get another with no payments.

 

Jalopnik has posted about your auction too. (that might have already been posted).

Jodark on there does make a good point, don't forget that you are liable for the income taxes on a sale like this. Might want to price it high enough to cover that also.

Good Luck, I'm watching to see how much you get. I'd do the same thing if I got that lucky.

 

Good for you. I would feel the same pain about owning #1. I have a 98 Cobra that has 22000 miles on it. I fear for it every time I drive it. If you cant add to the description, You can answer someones question and have it show in your auction. I would not add a buy it now as you may well go over your price. Good luck to you. Yellow98cobra

 

And it's different how?

 

seriously. there is no difference between Shane charging $100,000 for 0001 and a dealer putting a 55k ADM on 0001.... they're both going after an insane profit on a very very rare Boss 302, and I wouldn't blame either one of them.

 

Yes , he will owe the taxes on the profit. If it sells for 100,000 and the total car cost him 50,000 , the profit of 50,000 will be added to his income which can also push you into a higher tax bracket. Keep that in mind Shane.

 

I currently don't own a Boss but I am top of the list for a 2013 in Grabber Blue with my dealer. So I am also as you all are..GIDDY about the Boss 302 return, but I wish Shane the best with selling or keeping the car. I won't judge him for making some cash off of it!!

 

A Dealer is a brand representative of a manufacturer of a brand new retail product.

An individual selling a used product at auction is completely different.

 

Thank you, we are on the same page

 

I wasn't asking for your biased opinion

 

Doesn't matter what you are asking or who from. I'll post where I choose.

Take it to pm if you want a love fest with your pals.

 

I didn't ask for a reply to my reply to you