Bugatti Veyron sells for half price at IRS auction

The bargain was a result of an IRS specialty auction of Ponzi-schemer Scott Rothstein's luxury automobile collection June 3. The Florida lawyer used other people's money to curate a large stable of specialty vehicles, including a 1967 Corvette and a 208 Ford Expedition Limousine.

The IRS auctioned off Scott Rothstein's collection of luxury automobiles.
The IRS auctioned off Scott Rothstein's collection of luxury automobiles.

A blogger recently reported a replica Bugatti Veyron available on eBay for $620,000. For a fake!

Even for a $1.7 million automobile, it's hardly a deal. One buyer purchased a 2008 Bugatti Veyron with only 801 miles on it at an auction for "only" $858,000.

The bargain was a result of an IRS specialty auction of Ponzi-schemer Scott Rothstein's luxury automobile collection June 3. The Florida lawyer used other people's money to curate a large stable of specialty vehicles, including a 1967 Corvette and a 208 Ford Expedition Limousine.

But the piece de resistance was a 2008 Bugatti Veyron with an estimated worth of $2 million. Many of Rothstein's other vehicles held their value nicely, but the Buggati sold for half price. Oddly enough, the lucky bidder was the owner of the dealership that sold Rothstein several of the vehicles at the auction, including the Veyron.

The other auctioned vehicles:

  • 2008 Cadillac Escalade: $44,000
  • 1967 Corvette convertible: $103,000
  • 2007 Ford Expedition limo: $47,500
  • 2008 Mercedes-Benz SLR: $301,000
  • 2007 Rolls-Royce: $240,000
  • 2009 Maserati GT: $90,000
  • 2009 Bentley convertible: $179,000
  • 2009 Ferrari 430 Spider: $199,000
  • 2010 Lamborghini Murcielago SP670-4 SV: $382,000

The specialty auction held by the IRS raised $5.8 million to repay victims of the Florida lawyer.

(Source: South Florida Business Journal)

 

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