Is it just me, or has guy lost it?

[GR8_ASP]

Yep, he may owe 40 or 50k or more on his winnings depending on what they established the value as. If you are in a high tax bracket and the sweepstakes over values the prize, the cost can be right up with an outright purchase.

In this case say they took a SRT at full cost, added the cost of the improvements (also probably ovepriced) and they may indeed have valued the car in the 120-150k range. Assuming combined federal, state and sales tax net 50% (very possible) he could owe 75k in taxes for the winning Viper, which based on the ugly paint is worth less than a new Viper that can be purchased for essentially the same amount. Big winnings indeed.

 

[viking]

For a 100K you'd think he could spend $300 for a decent digital camera.

 

[FLOORIN04]

Just saw the new pics.Not to be a assholla but look at the background.The car with that [******] paint job is still worth more than the housing market.What is this guy thinking there cannot be that many fans out there willing to buy that car because of star wars.people drive me nuts.



just my .02 my rant is over

 

[big-n-italian]

<< Just saw the new pics.Not to be a assholla but look at the background. >> << For a 100K you'd think he could spend $300 for a decent digital camera. >>

I am hoping the guy does sell the car, so he can go out and buy himself a lawnmower and **** eater.

 

[Tico]

Did anyone else notice the POS house the car was in front of? Definitely a sweepstakes winner here.

Holy smokes this is a tough crowd. This is probably the best thing that's ever happened to the poor guy. I know I would have been ecstatic if I won a Viper. With the money saved just have the sides and hood repainted and remove the Cingular sticker on the windshield.

He obviously can't afford to keep it and should have taken the time to find out about Viper pricing and options before putting it on ebay. Side airbags, cruise control, power seats, .............

 

[Kenny]

After he told me to get lost, I emailed him back and told him to keep my number because $50k was probably the best offer he was going to get.

He emailed me back and called me some names and told me for $50k he would keep it himself. I almost peed on myself laughing---this guy obviously has not considered the tax implications of such a situation. Anyway, I guess we should all keep our eyes peeled for a REALLY ugly SRT-10 at IRS tax auction.

 

[2002_Viper_GTS_ACR]

May the force be with that guy in selling that car
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hes gonna need it....

 

[Viperfreak2]

they may indeed have valued the car in the 120-150k range. Assuming combined federal, state and sales tax net 50% (very possible) he could owe 75k in taxes for the winning Viper, which based on the ugly paint is worth less than a new Viper that can be purchased for essentially the same amount. Big winnings indeed.

I wonder if he could have taken a cash payout instead, like most lotteries, raffles, etc?

 

[FikseGTS]

Nah , the Cingular folks are smarter than that.... then they would be stuck with the car....

I wonder if he could have taken a cash payout instead, like most lotteries, raffles, etc?

 

[big-n-italian]

Reality is setting in, and the seller has lowered the reserve to $75K. Still no offers though.

Kenny, i will bet your $50k offer is starting to look pretty good right now. Stay near your computer. You might be getting an email soon.

 

[Kenny]

I emailed him again and asked him if he had thought about the tax implications of keeping it and told him my offer was still good. He hasn't responded yet. I really feel sorry for the guy. He probably thought he hit the jackpot because Cingular probably valued the car at $150k and he probably thought he could sell it for AT LEAST that. Even if he knew about the tax he probably figured he would walk away with $100k. Now he's staring at reality which is that he'll be lucky to net $10k out of this deal, nor can he afford to keep the car and enjoy it.

The real tragedy would be for him to register the car, drive it (lowering the value), possibly wreck it, then end up in a real mess in April. Winning a contest could ruin his life.

At least we can both agree the IRS *****.

 

[Viperfreak2]

Can he still donate it to a charity?

 

[agentf1]

There is an a$$ for every seat...

 

[DocAdam]

I kind of doubt he is in the tax bracket that would heavily benefit from donating the car to charity.

The best bet is for him to insure it and park it on the railroad tracks 2 blocks away (after shoving a screw driver in the ignition of course).

 

[big-n-italian]

<< The best bet is for him to insure it and park it on the railroad tracks 2 blocks away (after shoving a screw driver in the ignition of course). >>

Either that, or it appears that he might be in the right neighborhood where he can park the car in the street overnight, and "accidentally" leave the keys in the ignition if you know what i mean.

 

[Kenny]

I just heard from the guy, he told me he had a $70,000 offer. I told him to take it. Quick. I also told him to call me if it falls through. I think $70k is too high for that car---if you consider the paint to decrease the value and what it would cause to bring it back to stock.

 

[big-n-italian]

<<I just heard from the guy, he told me he had a $70,000 offer. >>

BS. Here is a Mamba with a few more miles for mid 60's. More desireable, and without the fugly paint job.

http://cgi.ebay.com/ebaymotors/Black-Mamba-in-New-Jersey-200-in-the-World-BUY-IT-NOW_W0QQitemZ4568659866QQcategoryZ6209QQrdZ1QQcmdZViewItem

I think he should sober up take your 50k offer.

 

[Kenny]

One final follow-up. The owner emailed me and told me he had just sold the car for $75k. I congratulated him and told him I thought he got more than the car was worth. I hope he listens to me and puts enough aside for the tax man.

 

[gthomas]

You also should have advised him to find a new appraiser for when the tax man cometh.

 

[big-n-italian]

IT'S BACK!!

http://cgi.ebay.com/ebaymotors/2005-STAR-WARS-DARTH-VADER-DODGE-VIPER-ONE-OF-A-KIND_W0QQitemZ4578499914QQcategoryZ6209QQrdZ1QQcmdZViewItem