Fully restored and correct Merak SS is now $15,000

[staatsof]

What great news for buyers.
I just started reading my latest copy of Hemmings Sports & Exotic Car magazine.
This month they have a feature on Mid-Engines for Everyone.

They recon a Fully correct Merak SS is $15,000.
Even the highly vaunted (by some on here) European SS version seldome reaches $20,000.

Yeah sure ...

[Ferraripilot]

Originally Posted by staatsof

What great news for buyers.
I just started reading my latest copy of Hemmings Sports & Exotic Car magazine.
This month they have a feature on Mid-Engines for Everyone.

They recon a Fully correct Merak SS is $15,000.
Even the highly vaunted (by some on here) European SS version seldome reaches $20,000.

Yeah sure ...

What planet are they on? In the physical universe we currently occupy, what they are stating does not exist, so this by all accounts infers Hemmings editorial staff resides elsewhere -off planet - off galaxy for that matter.

I can't find a good Euro SS for much under 30k Euro these days for crying out loud.

[William Abraham]

Originally Posted by Ferraripilot

What planet are they on? In the physical universe we currently occupy, what they are stating does not exist, so this by all accounts infers Hemmings editorial staff resides elsewhere -off planet - off galaxy for that matter.

I can't find a good Euro SS for much under 30k Euro these days for crying out loud.

Same issue with the QP III. Running cars are 3 to 5,000 but the last "perfect" examples were 29,000 pounds and one for sale for 39,000 Euro. We discussed this in relation to the QPIII elsewhere but clearly the guide price of concours at 10,000 existed in another decade..... Still unless you knew exactly what is was what would they bring at auction...... too few going through

[staatsof]

Originally Posted by William Abraham

Same issue with the QP III. Running cars are 3 to 5,000 but the last "perfect" examples were 29,000 pounds and one for sale for 39,000 Euro. We discussed this in relation to the QPIII elsewhere but clearly the guide price of concours at 10,000 existed in another decade..... Still unless you knew exactly what is was what would they bring at auction...... too few going through

QPIIIs aren't highly prized over here.

But the rest of the cars in that article were off as well. The Merak just struck me funny. Maybe 10 years ago. Maybe ...

[au-yt]

Hi Guys
Australia is no different A good R/H drive Merak will should fetch about 45 to 50 KAUD they ask higher but dont sell

Qporte III dont exist here buy aQporte I might get 50K

Ferraris and Lambos are the worst.
I see in Piston heads a guy bought a 456 for 15K UKP cheapest one here is 85K and its rough

Lambo Countach 5000 88.5 100k USD here 250KAUD and the Aussie Dollar is floating around Par with the US.

I will say there is good reason the taxes even on classics here is fright full as we have a luxury car tax and to Quote:

Luxury car tax (LCT) is a tax of 33% imposed on the
GST-inclusive value of luxury cars over the relevant LCT
threshold. You must generally pay LCT when you sell or import
a luxury car. You must pay LCT as well as any goods and
services tax (GST) payable.

THE LCT THRESHOLD
The LCT threshold is equal to the car limit, which is $57,466 ( AUD)
for the 2010–11 financial year.
for every doll over the $57,466 you pay 33% plus 10% GST.

That applies to classic's and if you think you can cheat it with a cheap receipt Customs will do there own valuation.

Oh and I forgot to metion that the Luxury car brands her gouge on pricing because Australian are will to pay the stupid prices.

An example a new Maserati Grand tourisimo sells for 145K in the US Starts here at 325K AUD and as I said the US = AUD

Enough ranting from me

Cheers
Graeme

[staatsof]

I've never understood the reasoning for this. It's not like there's a huge exotic car industry to protect there.

It's a very regressive approach.

At least in the USA these cars can drop in value to a much more reasonable price over time. Then some of them become prized collectors cars and rise in value again. Some ...

You guys should revolt and straighten your government out. Or are people happy with this approach?

I fear this destructive attitude of "tax the bastards" is gaining steam here.

How short sighted.

[bundas]

Australia is different. At least the transplant that i have coffee with(Latin teacher) He is very pro Obama and very negative towards anything Republican. But our nation is very very divided to the point of deaf ears. All that Australian tax money goes to health supports and attempting to leveling lifestyle to suit those that cannot do the same on their own

[trustno1]

Originally Posted by bundas

Australia is different. At least the transplant that i have coffee with(Latin teacher) He is very pro Obama and very negative towards anything Republican. But our nation is very very divided to the point of deaf ears. All that Australian tax money goes to health supports and attempting to leveling lifestyle to suit those that cannot do the same on their own

err no

All of the money does not - in fact too much of it goes to questionable fluffy Gov. programs with no proper accountability.

Billions lost across, inept management and why the encumbent party will not only lose the next election but be banished into oblivious for years to come

[staatsof]

I wasn't trying to open up a major political rift with my comments so maybe we should stick to a discussion about the taxes on these cars, really any car that's imported to Australia?

It's terribly stifling and I can't believe that this really raises significant revenue on the handful of people that bring cars in this way?

So why do this unless it sounds good politically?

Maybe someone from Australia can explain the theory of this as seen from an Australian point of view.

[longroof]

It is political as in theory they are protecting the local car manufacturing industry. Whist there are some very good local cars made here they do not compare (particularly with respect to fit and finish) with what is available overseas. From a performance perspective many of our local cars are ahead of what is available overseas. The Federal Government has just pumped huge $ into the local car industry so the liklihood of tax on imported cars coming down is very low.

[JulianMerak]

I did hear that Toyota paid the most luxury car tax here... Which shows that what was initially introduced as a luxury car tax is now very much a tax on a very large and increasing segment of the new car market. The tax applies to locally made vehicles too incidentally so not sure how it protects our local manufacturers

Tax starts at $57K which doesn't buy a very luxurious car these days

[staatsof]

Originally Posted by longroof

It is political as in theory they are protecting the local car manufacturing industry. Whist there are some very good local cars made here they do not compare (particularly with respect to fit and finish) with what is available overseas. From a performance perspective many of our local cars are ahead of what is available overseas. The Federal Government has just pumped huge $ into the local car industry so the liklihood of tax on imported cars coming down is very low.

Besides the obvious distortion of the market place this causes for high volume cars the side effect of this is that the fun "toy" cars like the Italian exotics become silly expensive. I'm not sure they could carve out an exemption for those and get away with that? Maybe based upon limited importation numbers?

I'm certainly glad there's nothing quite this onerous here and our car industry has been brutally changed over the last 30 years. The cars have gotten a lot better here because of that.

Detroit? Say good night Gracie.

[trustno1]

Futher more, such a tax discriminates, no LCT tax is applied to equally expensive toys such as boats, planes etc. and in the case of the former there is an industry in existance.

Car segment targeted and dispite lobbying by industry bodies, nothing will change as its a revenue raiser with the majority of the voters in favour of its retention

[staatsof]

Originally Posted by trustno1

Futher more, such a tax discriminates, no LCT tax is applied to equally expensive toys such as boats, planes etc. and in the case of the former there is an industry in existance.

Car segment targeted and dispite lobbying by industry bodies, nothing will change as its a revenue raiser with the majority of the voters in favour of its retention

But for the very limited production vehicles or vintage cars it can't be all that much revenue but it's certainly a lot of ill will.

[trustno1]

Originally Posted by staatsof

But for the very limited production vehicles or vintage cars it can't be all that much revenue but it's certainly a lot of ill will.

Vintage as in 30 YO (i think) dispensation for LCT, limited production probably would not meet strict Australian Design Rules (ADRs) (as in crash test, vehicle build standards etc) but im no authority & haven't researched properly

[longroof]

Yes sorry I agree the Luxury Car Tax does apply to all cars above a certain value. I didn't realise the tax applied to the private import of cars beyond a certain age (30 years or something like that?).

[ferraripete]

i sold my 79 merak ss to eddie karam 13 yrs ago. it was all original paint and interior and 18k miles. it was a true 9 out of 10. i wish i had kept it.

in any event eddie is a wholesale buyer and he paid me $20k and paid to ship it to him. let's say sunk cost to eddie was $21k.

Now, that said...if restored ss meraks can be had for $15k, i will own another one just for the value proposition and the fantastic styling!!!

hemmings...please send me an updated list of mint $15k meraks and i will buy the bar a round of life time subscriptions to your publication.

pcb

[bundas]

here in lexington ky. one was on the cover of Road and Track. it came from Fl. and has a rust hole in frool behind driver seat and a replacement motor 2.7 the 3.0 block is in the trunk. rest of motor missing 12,000. the other two had 15-20 thousand each spent on mechanics are perfect. no they are not 15,000

[Ursa Major]

haha.
I just sold my '77 Euro SS for about 60k USD. It was restored and in good condition.
In my opinion a fair price. 20k? Absurd!

[Merak1974]

Originally Posted by Ursa Major

haha.
I just sold my '77 Euro SS for about 60k USD. It was restored and in good condition.
In my opinion a fair price. 20k? Absurd!

A very fair price indeed, absolutely, Ursa Major. Good car, reasonably sorted out, and looked fabulous with the new - and very well done - paint! Still, quite some distance from concours.

I simply don't understand how misconceived the Merak seems to be in some markets. When will the market finally grasp that there is a 1 to 10 ratio (if that...) in terms of rarity between the Merak and the 308? ... and despite all the 308's qualities, surely the Merak is the prettiest and better car!