Freddie ~ I remember one of our SCOF brothers (I think Eric B.) telling me about a Superformance being raffled off last year and that someone from Texas won it. I also think that Dean @ Dynamic actually sold this car to whoever held the auction.

Although my memory can sometimes be fuzzy, I know that I heard this somewhere!!!

Brian

Then Downtown should have little problem posting pictures of the VIN plate and number....and I'll follow up with my apology, no problem

If I had just won a Cobra and didn't know much about it this is the place I would come to find out more.

Seems to me an SPF with a 427 S.O. is a rare one. With that engine an SPF would bring top dollar, well over the $2000 offered. I'll give you $3000.

Ernie

I want to take the opportunity to thank those of you who are interested in helping me in how to honorably handle this situation with this car. There are those however who need to except reality as it is and know that while it may seem funny they are not. I am overwhelmed with theadvice of the members of this site and at this current time have asked my CPA about the tax issues. The way the car was signed over tome was through an affidavit of donation and dsinated to me as a gift and not a prize. So in that lies a tightrope of tax law interpretation that is like winding up a spun fishing reel. Anyhow I will take the suggestions and do the homework and get the information that some of youare after and will post it as soon as possible for further discussion.
Thanks--DownTown

This is to the member with the username of Flyin_Freddie.

I am a roofing contractor and at our state convention in San Antonio this past September (sctually the 25th to be exact at 5:05 p.m.) my name was drawn from the pile of entries and that is how it was done. The donor of the car is a resident of Houston and did this as a way to boost his business sales. I buy alot of roofing products from his company. Architectural Building Components of Houston., Owner Charlie Smith the donor of the car he owned. I know where the VIN is and in sheetmetal terms the metal plate that the number is stamped on is not considered to be thick it is actually a light guage sheet metal plate and when I get the number a the photos up for you next week I really look forward to you publicly on this site and in the texts of you peers showing homage and respect for someone especially someone who is a member of this site and has made two car club tours in the Central Texas area with a parade this Saturday and only having the car less than a month. That in my opinion is taking advantage of the blessing that was bestowed upon me. So please feel free t investigat all you want to and when you are done then you will have the solved the puzzle: I honestly and truly with the deepest respect and humility won this car no strings attached and no troll stuff here!!!!!!!!!! I am a ligit man of my word and stand by that for the character of who I am. Thanks
DownTown

Trade it in on a Cobra.

TURK:3DSMILE: :3DSMILE: :3DSMILE:

"the member with the username of Flyin_Freddie"

:LOL: :LOL: :3DSMILE: :LOL: :LOL:

Freddie who?????

:p ;)

Great Asp :MECOOL:

Right on DownTown!! You hang in there!
 

:D

Ernie

Cobra valuation
 

I had to establish a value for my car, so I went to a professional appraiser that worked for the insurance company. I would suggest that you do the same for the IRS. If the value looks reasonable to the IRS, that is the value that they will used for tax purposes. You should check with your tax man because there maybe a local wrinkle in Texas.

If the car has been register, that maybe the key to it's value. The DMV in Mass valued my car at $6,500.00 for tax purposes because it is register as a 1965.

You also have to consider the market value which maybe still another figure.
Small Blocks Superformance 35 to 45
Big Blocks 40 to 50
All depends on the shape of the vehicle, the need to sell and the need to buy. Econ. 101
:JEKYLHYDE

Hey Downtown:
Don't listen to that member named Flyin_Fredie.
He's the real TROLL. I 've heard stories about
him Trolling through infields of certain road courses
and hole-in-the-wall honkeytonks (and not in
that order).

Ron,

How long do we have to wait??????

Downtown,

I read your profile and if I'm correct you are a 28 year old and a devout Christian... I'm sure you'll want to do the correct thing and pay your taxes on the car...
Ballpark guess would be around $55K. value on the car assuming it's an SPF and in near perfect shape...
Congratulations on the prize... Took me 30 years longer to get mine...
al

To the New member named "DownTown"...

Buddy...you're swayin' me....no doubt about it. You sound legit...but...well....it's just that the collective membership on this website has been trolled so msny times before with posts very similar to yours... and someone comes on here with this fantastic story about what they found/bought/have for sale/or , in your case, won, and then proceeds to lead all of us down the garden path until we wind up steppin' in somethin' that no one wants to track in their cars...let alone their house. Am I making myself clear...?

Man, DownTown, if you're legit....I promise you I'll buy your lunch at the Texas Cobra Club Annual event in February....I'm making this a PUBLIC promise to you, right here in front of God and Country, for the whole world to read. Most of the guys who know me on the forum and others to which I belong, know me to be a joker, and a wild man from time to time, but most of 'em also know me as a man of my word. You post that picture....and your lunch in February is on me....and I'll post a picture of me on my knees apologizing to you. And I'll mean it, sincerely....

:D

As many others have indicated, you need to get a professional apprasial and get prepared to pay your Federal Income Taxes, because, Uncle Sam is expecting to receive his share of your new found luck no later than April 15, 2004. As a matter of fact, you may be obligated to send the United States Treasury an estimated tax payment on Form 1040ES no later than January 15, 2004 to compensate for the fact that your income increased in the fourth quarter of 2003 by the market value of your good fortune.

My best advice is to go find a good tax accounant now! Then worry about what you plan to do with the car. By the way, put some miles on it while your CPA sorts out the tax issues to your advantage!

Once again I thank you all for the information and advice it is stream lining in faster than I can process it. First of all casaleenie I am a devote Christian and my initial obligation is to give to my Lord who blessed me with this at such a young age. Then like most responsible men I want to pay the taxes if that is the correct way of things. I being in business know all about taxes since I am in 42% tax bracket with my persona income and higher in my business taxes so I pay taxes almost every time I turn around there goes another $.42 cents of every dollar I personally make goes to Uncle Sam. To Flyin_Freddie I thank youfor the start of an apology and do take in consideration your personality and the humor to it that you bring and will work dilligently to get those pics up and going for you. Plus down here in Texas we eat big and so the lunch is well excepted when the time comes.

Must be the year for Cobra giveaway cars. A local radio station gave one away this summer, donated by a local used car dealer that was unable to sell it for the last year (they were asking in the $40,000 range), and were advertising it as worth more than $38,000. When I went and looked it over I found a Shell Valley car that was done in the barest of terms and had a small block Chevy engine of some kind. I'm glad I didn't win and have to pay the taxes on that, I think the dealer was getting free advertising to the tune of the $38,000 so he didn't have to eat the cost he must have given on trade.

uh oh a bidding war!! I'll go $4,000 but that's it!

with all this talk about taxes my wife actually told me to trade it in for a cadillac sburban. Go figuresomething for her of course
well till monday that is it for me at the office. thanks everyone

Bidding war? I'll bump it up to $7,000, the 427 is worth that,even if it it has that ol' SPF wrapped around it.

sniper......
 

$7001

David:LOL: