Collector car question-Sell or Hold

[desmofan]

I'm not an accountant, but doesn't this qualify as a long term capital gain? If so, it should be subject to significantly less tax. From what I see on the internet, meaning it has to be true, is 0%, 15% or 20%, depending on your "marginal tax bracket".

And, even if you're confident it will be worth $1M in a few years, if restored, that means it will be worth $600k-$650k unrestored, not a huge difference in a few years, if you get the $500k suggested, or more.

Just my $0.02 worth, and overpriced at that.

[m4ximusprim3]

My theory is that the value of collector cars (less a couple notable exceptions) is maximized when the car was cool during the formative years of the largest number of elgible purchasers.

Going by that metric, I wouldn't expect your GT to continue to climb at the rate it has. Hence:

http://www.youtube.com/watch?v=-WCFUGCOLLU

[Tammer in Philly]

Particularly in a volatile market, I tend toward the "bird in the hand" side of things, but then I'm naturally pretty conservative when it comes to money. x2 on all the comments about finding a better accountant, but it sounds like you're on that.

-tammer

[strupgolf]

At that high price, you had better take the money and run. One just sold at RM auctions for $182, 000 dollars. It was not a concoures restoration, but ver nice. I dont think there should be any hesitation.