A Cobra Valuation question

[mrmustang]

Originally Posted by STLUCIE

The car in question was stored in a barn in 1980. The owners, XXXX XXXX asked XXXX’ brother, XXXX, to store the car at his property in XXXX. In 2018, after Mr. XXXX passing, Mrs. XXXX learned that XXXX sold the car without a title which is in her possession and without her knowledge.

Mrs XXXX may have a copy of the cars title, but perhaps Mr XXXX had requested a duplicate title for the car, having not been able to find the original at the time of "trade" between Mr XXXX and his brother. The DMV would need to dig deep in to their archives in an attempt to find whether a duplicate title was ever requested.

Now, where I find a slight hiccup in Mrs XXXX assertion of "loss of use", since the car was inoperable, there was no use at that time, and even if there was, Mr XXXX's brother could have easily charged $100 or more a month in storage fees between 1980 and 2018. Say $100-$500 a month is the going rate for indoor storage of an inoperable "collector car", times that by 38 years, and your storage costs are quite costly . As an inoperable car, with no meaningful racing history, stored correctly or not, but now needing $400,000+ in restoration, strictly from sitting unused for 38 years.....Now you want to speak about value, or value due to loss of use.......Well, I think you get where I'm going with this..

In closing, as they say, there are three sides to a story, his story, her story, and the truth............

I'll leave it at that, for now.

Bill S.