with a 1031 exchange is a legal way to pay 0% taxes versus taxes at 28%. I recently received an email and attached flyer that explains how to be smart sellers and buyers through an asset preservation program. Click here to learn more.
Preserving Your Investment in Your Collectible Car
Questions? Email: terry@proteamcorvette.com
TICKETS STILL AVAILABLE TO WIN A 1957 CORVETTE CONVERTIBLE
Raffle tickets are available for the 22nd Annual Classic Car Giveaway benefiting Saint Bernard Parish and School in Rockport, Indiana. This year’s car is a NCRS restored venetian red 1957 Corvette Convertible valued at over $83,000.00. The Corvette hotline number to order tickets is 812-362-7313. Ticket orders may also be downloaded from the parish website at www.StBernardRockport.org where a photo tour and video tours of the car are featured.
The cost of each opportunity is $30.00 or 4 for $100.00. Only 10,000 tickets will be sold.
“We were 116 tickets short of a sell out in 2009,” said David Lovell of Saint Bernard Parish. “This 1957 Corvette is show-ready and is absolutely gorgeous. We’re hoping to sell every ticket this year.”
Saint Bernard Elementary School is the only accredited private/parochial school in Spencer County. Over 20% of Saint Bernard students are non-parishioners and a bus service is available for families in the North Spencer area for daycare, pre-school and K-8 students.
The winner will be drawn on Sunday July 11 at 5:00 p.m. CDT at the annual Saint Bernard Summer Social on the church grounds at 6th & Elm St. in Rockport, IN. Admission is free. The Summer Social hours are 11:00 a.m. until 5:00 p.m. and everyone in the community is invited to attend.
The 1957 Corvette was purchased from the fine selection of classics from ProTeam Corvette.
22nd Annual Classic Car Giveaway benefiting Saint Bernard Parish
Scottsdale, Az. — Turns out the guy driving that 1967 Shelby GT500 as an enthusiast has the side benefit of being a smart investor. Leading into the Barrett-Jackson Auction Company’s inaugural event in Las Vegas, the collector car auction house reported that many of the top cars sold have performed better in value than the stock market and gold over the last 10 years.
“Though most people buy a collector car to enjoy, they have also proven to be one of the soundest investment vehicles in the global marketplace over the past 10 years,” said Craig Jackson, Chairman and CEO of Barrett-Jackson. “It’s rare that a hobby and someone’s passion has the potential of being a great investment.”
The Barrett-Jackson mini-index (see chart below) was created in 2003 and consists of representative cars that reflect the diversity seen in the collector car market. These cars span from 1957 to 1970 and are primarily European and American sports cars and U.S. muscle cars. The cars used in the index are the 1957 Thunderbird, 1967 Jaguar XKE, 1967 Shelby GT500, 1970 Camaro Z/28, 1970 AAR ‘Cuda, 1965 Austin Healy MK III and a 1967 Corvette 427/435. According to the data released today, the value of the cars in the Barrett-Jackson mini-index grew by a compounded annual growth rate of 16 percent from Q1 1998 to Q1 2008, which included economic and political upheaval stemming from major events ranging from the Invasion of Iraq, the Dot Com bubble crash, and 9/11. During that same period, the Dow Jones Industrial Average (DJIA) grew a compounded 5 percent annually while the S&P 500 Index grew 4 percent. The price of gold grew a compounded 11 percent in the same period.
“These numbers paint a vivid picture of the intrinsic value and growth of the collector car market,” said Steve Davis, President of Barrett-Jackson. “A financial analyst will tell you that every market has year-to-year fluctuations, but that the true measure is performance over time. We’re proud to be part of that great performance of the collector car market and we believe our expansion this week into Las Vegas will reinforce the view that collector cars are not only our consumers’ passion but offer the potential of providing long-term value. Most enthusiasts like me take great solace that as a car collector, we own tangible assets that have not only stood up to the test of time in value, but can also be driven and enjoyed.”
“With all the turbulence in the current capital markets, we are pleased with our key economic indicators for this event. Tickets sales have been strong, our Las Vegas consignment slots were sold out a month ago, and bidder registration has exceeded our expectations. Bidder interest and registration have not waned despite the negative news coming from Wall Street.”
About The Barrett-Jackson Auction Company:Â Established in 1971 and headquartered in Scottsdale, Ariz., Barrett-Jackson specializes in providing products and services to classic and collector car owners, astute collectors and automotive enthusiasts around the world. The company produces the “World’s Greatest Collector Car Eventsâ„¢” in Scottsdale, Palm Beach, Fla. and Las Vegas. For more information about Barrett-Jackson, visit www.barrett-jackson.com or call (480) 421-6694.
Media Contact:Â Scott Black at sblack@tprm-usa.com or (214) 566-6458 (www.tprm-usa.com)
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