$700 Craigslist car find worth millions
05-29-2016, 12:54 PM
#1
Team Owner
Thread Starter
05-29-2016, 02:13 PM
#5
Drifting
The original post does provide an opportunity - a contest to see who can find the most errors and omissions in the printed story - I'll give the first one to everyone....."purple"?
The following 2 users liked this post by 62corvette:
ohiovet (05-29-2016),
Rick Gower (05-29-2016)
05-29-2016, 04:39 PM
#8
Turn 12!
Cool story.
05-29-2016, 05:38 PM
#9
Race Director
That car is so hacked up, that 'restore" is the incorrect word. reconstructed, is better choice.
Jack up radiator cap, back out car, insert new car underneath, lower radiator cap.
When it is done, you will have perhaps 10% original car, 90% sourced parts built to look like it once did.
Doug
Jack up radiator cap, back out car, insert new car underneath, lower radiator cap.
When it is done, you will have perhaps 10% original car, 90% sourced parts built to look like it once did.
Doug
05-29-2016, 06:43 PM
#12
Le Mans Master
What?
"A years-long tug of war over ownership ensued. To make a very long, tortuous story short: The Corvette—now positively identified as the Number 1 Cunningham Corvette—is owned by Gino Burelli, an Indiana car dealer and collector.
Under terms of a 2015 legal agreement, Burelli will commission noted Corvette restorer Kevin Mackay of Valley Stream, N.Y., to bring the car back to its original glory."
Not really.
The judge approved a settlement between Burelli, Idoni, and Mackay awarding each 1/3 ownership of the alleged $2.1 million unrestored car.
Burelli took possession of the car although it had been legally seized by that time by Larry Martin, whom Idoni already owed a $400,000 judgement in an unrelated but similar fraud case.
The settlement terms required Burelli and Idoni to pay Mackay $700,000 by December 1, 2015, to buy out his interest in the car. They did not. Several months after the deadline Burelli paid Mackay's attorney about 10% of that amount, but has not made any further payments.
Is anyone besides me seeing a pattern here?
Under terms of a 2015 legal agreement, Burelli will commission noted Corvette restorer Kevin Mackay of Valley Stream, N.Y., to bring the car back to its original glory."
Not really.
The judge approved a settlement between Burelli, Idoni, and Mackay awarding each 1/3 ownership of the alleged $2.1 million unrestored car.
Burelli took possession of the car although it had been legally seized by that time by Larry Martin, whom Idoni already owed a $400,000 judgement in an unrelated but similar fraud case.
The settlement terms required Burelli and Idoni to pay Mackay $700,000 by December 1, 2015, to buy out his interest in the car. They did not. Several months after the deadline Burelli paid Mackay's attorney about 10% of that amount, but has not made any further payments.
Is anyone besides me seeing a pattern here?
Last edited by jerrybramlett; 05-29-2016 at 07:00 PM.
The following users liked this post:
Rick Gower (05-29-2016)
05-29-2016, 10:50 PM
#13
Melting Slicks
Member Since: Feb 2011
Location: Middletown Ohio
Posts: 2,892
Received 167 Likes
on
130 Posts
2016 C1 of Year Finalist
Jerry,
Lawyers, lawyers and more lawyers.
As you probably know one of the 3 has a long history of legal shenanigans concerning expensive cars.
I would assume since the other 2 are both successful business people they would like to see an end to this circus.
I would have liked to have seen Lance restore it and keep it with number 3.
Lawyers, lawyers and more lawyers.
As you probably know one of the 3 has a long history of legal shenanigans concerning expensive cars.
I would assume since the other 2 are both successful business people they would like to see an end to this circus.
I would have liked to have seen Lance restore it and keep it with number 3.
05-30-2016, 01:18 AM
#14
Le Mans Master
Could be much worse, Gas Monkey garage could have bought it.
Or maybe they were the ones that painted it?
Or maybe they were the ones that painted it?
Last edited by Bangkok Dean; 05-30-2016 at 01:19 AM.
05-30-2016, 08:48 AM
#15
Race Director
05-31-2016, 06:45 AM
#19
Safety Car
They knew exactly what they were getting into. All of the research had been done and they knew exactly what they were buying. They also knew the lawyers would be involved.
This car was bought by professionals. These were not hobbyists.
Richard Newton
What Does "Original" Really Mean?
This car was bought by professionals. These were not hobbyists.
Richard Newton
What Does "Original" Really Mean?
