RE: RM Auctions 'Duemila Ruote' auction preview

[Truckosaurus]

fatboy18 said:

Lagerlout said:

Must be some money laundering going on surely, that or they have really managed to lure all the lunatics with a bit of cash from around the world!

I think a bit of both!

Have a load of Patsys been sent to bid stupid amounts and then not pay, just to annoy The Man?

Results: http://www.rmsothebys.com/tv16/duemila-ruote/resul...

Edited by Truckosaurus on Tuesday 29th November 07:02

[RichB]

fatboy18 said:

Lagerlout said:

Crikey, I haven't made it to the cars yet, but WTF this is the most insane thing I've ever seen! http://www.rmsothebys.com/tv16/duemila-ruote/lots/...

You should have been in the room, we were all sitting there in disbelief!

There has to be a story behind this. An old plug testee and some tins are not worth €2,500 so I wonder what was really going on?

[WTFWT]

Z3M coupe E65k?!

[Lozrington]

I had my eye on that Breadvan, as it was nice and straight and had about 15k on the clock (km). But to go to €65k is just crazy- there's no history with these cars and you don't even know if they're running! Although tbf in the case of the Z3M that's a reasonable assumption.

[ecsrobin]

And them prices are without buyers fees aren't they?

If I was the authorities I'd be checking each buyer out and where the money had been obtained from.

[Mogul]

The prices reported by RM Sotheby's include the buyers commission but exclude the VAT on the buyers commission (or indeed any VAT due on the total selling price). The reasons for excluding VAT from auction results such as these is that in general, trade buyers may have to pay VAT up front but they will be able to recover what they have paid in the normal course of business and further, non-EU buyers may be able to recover EU VAT upon proof-of-export from the EU etc.

To all the money laundering conspiracists out there, it would appear that RM Sotheby's has your back.

"How can I invoice and pay for my purchase?

Invoicing Requirements - Successful bidders must provide a signed copy of their government-issued photo ID (i.e., passport or identity card), as well as their fiscal code (e.g., codice fiscale, NI number, SSN). Where a lot is being purchased by a company, we will need further information, including the company's registered address, VAT number (if applicable), details of the company representative, details of the beneficial owner, and a certified copy of the certificate of incorporation.

Also, please note that the Bill of Sale will be issued to the registered bidder, and we are unable to re-invoice to a third party.

Payment Methods - In addition to wire transfers, we will accept the following methods of payment at our discretion:

-Credit or debit card (excluding American Express), up to €5.000,00 per lot
-Cash - maximum of €2.999,99 for all related transactions
-Cheque or banker's draft (with lots to be released only once the funds have cleared)
-Cheques above €999,99 must specify 'non transferable' to satisfy the non-transferability clause in Italy

Please note that we will not accept multiple methods of payment for a single lot.

In addition, payment must be from the party named on the Bill of Sale (i.e., the registered bidder)."

Source: http://rmsothebys.com/auctions/tv16-faq.cfm

Edited by Mogul on Wednesday 30th November 09:34