Barrett Jackson is on fire

[70 Forest Green Zee]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: SBR</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: whitetop</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: SBR</div><div class="ubbcode-body"> The Howard Hughes 53 Buick that he paid 1.5 million for just sold for 100K. Ouch! </div></div>

I doubt he cares..his high dollar accountants had it set up so if he sold at a loss he takes a tax break. Pratt did not become billionaire by being stoopid.

I would even venture to say he has it set up where he even makes money..he writes off the full price of the Futureliner, I bet it's storage, ad all associated cost that he had including employees he hired to take care of it. </div></div>
I agree that he probably does not care, in fact when you bundle the entire collection, I am sure that he did very well. </div></div>




Keep in mind that a lot of Mr. Pratte's cars were charity cars where 100% of the money went to charity and were a 100% tax write off. So let's just use the Hughes Buick as an example(even though I don't think this vehicle was a charity vehicle) buys it for 1.5 mil, takes a tax write off for 1.5 mil, then sells a couple years later for 100K...he made money. The few he loses money on will be made up by the many charity cars he bought and took the 100% write off on and re sells.