WOW!!!! Never expected this car to be valued so highly. Some big spenders out there on limited edition cars.
Gordon Murray can officially print money. Crazy that a Mclaren F1 copy cat can sell for this much.
However this car was donated. Therefore the funds won't be revenue for the business.
It's a money laundering scheme.
This car is worth less than the sum of its parts. Not 10 times more.
Sothereby and “charity” auctions of high value items like art and cars have always been vehicles for money laundering and tax dodging.It's a money laundering scheme.
This car is worth less than the sum of its parts. Not 10 times more.
I highly doubt this money will go to "Charity". Maybe to the GM charity fund to provide him some much needed cash in case investors not given enough.Sothereby and “charity” auctions of high value items like art and cars have always been vehicles for money laundering and tax dodging.
If they build 50 of these then sell them all for 20mill they will make a nice $1 billion.in the bank and a healthy profit/
Both the donators (GM and Sotherbys) and buyer are businesses. Because its for charity there are tax benefits for all parties.I highly doubt this money will go to "Charity". Maybe to the GM charity fund to provide him some much needed cash in case investors not given enough.
If they build 50 of these then sell them all for 20mill they will make a nice $1 billion.in the bank and a healthy profit/
Both the donators (GM and Sotherbys) and buyer are businesses. Because its for charity there are tax benefits for all parties.
The seller benefits greatly and often proportionally to the money donated. Therfore they are willing to bid higher than they would if this was not a charity donations.
It worked out perfectly. At $20m it sets a fictional ceiling price for one-off GMA cars. Basically Mclaren F1 money. The high price is also because it's one car not five. If there were 5 auctioned off there would be less exclusivity and this would reflect in the hammer price.
Gumballs rally isn't too dissimilar to the above. Most money go to charity, and donation events are held in the countries they drive too. This way business people and corporations taking parts can hire lambos, book expensive hotels etc and expense it under charitable activities.
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