69 427 Yenko Nova's

[YENKO DEUCE REGISTRY]

To be honest, I have yet to see a decent Yenko Nova clone - most are decent cars with some stripes and badges thrown on, and aren't worth any more than a decent street Nova

$500k won't even get you a second chance, that figure was flat denied at SCR8. $1M is more like the starting point.

[Xplantdad]

Yea Marlin...I posted the pictures of that car in response to what a clone would bring...you guys know WAY more about these cars than I do...

Car did look nice...and got a lot of looks...mostly from the "older generation". The owner called it a "tribute car..."

[sYc]

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I saw the picture when we visited Gary a couple of years ago. I don't doubt the mine shaft story, but not sure where the car went, although I'm sure where it isn't. There are Yenko chevelle's,1 and copo chevelles 1 around Dubuque, but they ain't yellow. Now behave before I sic Cumby on you.

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I have heard the stories, seen the pictures and actually saw the Chevelle stock car. On our trip back from Wis. with the Yenko Vega, Mo and I stopped by to take a peek at the Chevelle. The owner was very nice, going as far as allowing Mo to check the numbers on the firewall (front clip MIA). Sad to say, no match.

[Racefan]

Tom-
Was that one in the possession of GH? If not, was the shell you saw (sans front clip) in the area of the map I posted on a farm? Just want to see if I am chasing the car you have already laid eyes on.

[sYc]

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Tom-
Was that one in the possession of GH? If not, was the shell you saw (sans front clip) in the area of the map I posted on a farm? Just want to see if I am chasing the car you have already laid eyes on.

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I am not for sure what GH has.

The car we looked would have been in that general area, as we were coming from Wis., headed to Missouri, and even though I do not remember exactly where the farm was, it was not too far out of our way. The guy who had the car was as interested in looking at our Vega as we were to see the Chevelle. It was an old farm house, with a barn and several lates '60s, early '70s cars in a field behind his house, including Camaros, a Firebird or two, maybe even a rear Olds. The sad part, the stuff he had was in very poor condition.

[Lynn]

So, back to the Yellow Yenko. Impalaman, it has been 5 days since you posted. Surely you have gone to check it out. What is the verdict? Did you get the car? Don't blame you for not posting too much info before you get the chance to check it out, but you better get on it quick or someone will beat you to it. News like this gets around faster than VD.

Lynn

[Lynn]

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Impalaman..Be cafeful about what info you give out about the location of this car. Good luck with getting it. If you get it bought and decide to sell it there are many here that are interested. If the lady needs money and you hit a home run with the car it would be nice if you shared some of your rewards with her.

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Couldn't agree more. Classiest post I have seen on any board in a long time.

Lynn

[Lynn]

Just a thought. Can't help but think of the tax implications of "sharing" some of the profit. One of the hazards of my profession I guess. Anyway, just for the record, if Impalaman were to purchase this car and resell it for a profit, I am sure you all know the profit is a capital gain, and is taxable income in the year received.

Example:

buys the car for 20,000

Sells the car for 50,000

"Shares" 10,000 of the profit with the current owner.

He would likely still be liable for taxes on the whole 30,000 profit, as the IRS would consider his check to the current owner as a gift. Being under $11,000, there are no gift tax implications.

How to remedy?

If he sells the car for $50,000 and wants to "share" $10,000 of the profit with the current owner, just have the new purchaser write two checks, one to him and one to the current owner. That way she is liable for her own taxes. Whatever she realizes on the sale will be capital gain to her anyway, and this is just more than she expected. Besides, as a Sr. citezen she is likely in a lower tax bracket.

I realize this whole deal may not even happen, but just wanted to make sure no one got tagged for more than their fair share of taxes. Don't believe in tax evasion, but am a huge fan of tax avoidance.

Lynn

[YENKO DEUCE REGISTRY]

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... Don't believe in tax evasion, but am a huge fan of tax avoidance.

Lynn

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Tax Planning not tax evasion or tax avoidance...

[Belair62]

He may be working with Fasttoys on it...