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EverettB 
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Ian
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 Posted: Thu Nov 05, 2009 7:52 pm Post subject: |
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I wonder who bought it and I wonder who restored it.....I'm certain both parties are on this website.
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IN LOVING MEMORY OF ROB CRESS 1968-2012 |
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EverettB
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purplepeopleeater
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Joined: July 23, 2005
Posts: 3117
Location: E. Washington
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| Posted: Thu Nov 05, 2009 8:07 pm Post subject: |
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reaper? ?  |
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Andy P
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Posts: 1166
Location: NSW, Australia.
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| Posted: Thu Nov 05, 2009 8:09 pm Post subject: |
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The insurance co. will auction it, not crush it.
They'd sell their grandmothers for a buck so anything that will attract thousands will see an auctioneers hammer, not a sledgehammer.
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Andrew
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Location: Who in the what now?
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| Posted: Thu Nov 05, 2009 8:28 pm Post subject: |
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What happens to the person that "owns" it right now? If it's getting shipped overseas, I would guess it's in the middle of being sold, so is somebody just going to get screwed out of a bus here as Allstate "recovers" their stolen vehicle?
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lonotch
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Joined: August 28, 2004
Posts: 3304
Location: So. Cal. Oceanside GFK!
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| Posted: Thu Nov 05, 2009 8:56 pm Post subject: |
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| Andrew wrote: |
| What happens to the person that "owns" it right now? If it's getting shipped overseas, I would guess it's in the middle of being sold, so is somebody just going to get screwed out of a bus here as Allstate "recovers" their stolen vehicle? |
Yes, it's stolen property.
But this makes you wonder if someone bought the wrong VIN tag for a restoration if that was changed, a birth certificate should verify that?
I saw over 3 VIN tags for sale at BOR over the weekend.
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hitest
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| Posted: Thu Nov 05, 2009 9:07 pm Post subject: |
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One car stolen in Boise a few years ago was offered back to the original owner for a price very colse to what was settled. I don't know if that is still common- but seams just in this case. We need a couple insurance folks to chime in.
A sunroof standard- nifty deal. I feel sorry for the european investor/restorer who just got hosed. I thought anybody who possesses stolen property is hosed. He'll go after the US seller- who'll go after the mechanic who had the lein- who'll go after the flipper from the North- who'll go after... You can bet when it's all said and done- someone on Craigslist from Montana or Walla Walla, WA is going downtown!
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| EverettB wrote: |
I wonder what the nut looks like.
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'62 L390 151, '62 L469 117, '63 L380 113, '64 L87 311, '65 L512 265, '65 L31 SO-42, '66 L360 251, '68 L30k 141, '71 L12 113, '74 ORG 181
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benjb22
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Joined: November 29, 2008
Posts: 3
Location: Oregon
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| Posted: Thu Nov 05, 2009 9:48 pm Post subject: Re: Stolen Bus Recovered |
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| lonotch wrote: |
| benjb22 wrote: |
It's stated in the article that Allstate would try to contact the original owner. I guess that would be to offer it back to him. In analysis, if the $2500 was invested in U.S. Treasury bearer-bonds 35 years ago that investment would be now valued at at least $25,000, if not more. The VW's value would be $25K-$50K, depending on some variables. Thusly, vintage VW's are proven to be an excellent investment, as well as a lot of fun.
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You're comparing apples to oranges, the money in a U.S. Treasury bearer-bond has no maintenance, insurance or storage fees, in 35 years that ads up. You do get to enjoy it by driving it and that's priceless but not a investment. |
I agree with your apples to oranges analogy but it is nice to know that a VW purchased years ago has, comparitively speaking, a certain financial aspect to it that would lend itself to intelligent consumer money-management. I personally would not look at a vintage VW acquisition as an investment but, as you, something to cherish and enjoy and perhaps pass on to heirs years later. But you can't tell me that vintage VW "owners" (as opposed to collector-investors) don't occasionally look up market valuations for personal knowledge. |
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daves_ale
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Joined: May 15, 2004
Posts: 1044
Location: Home of Happiness, Texas
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| Posted: Thu Nov 05, 2009 10:03 pm Post subject: |
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| lonotch wrote: |
| Andrew wrote: |
| What happens to the person that "owns" it right now? If it's getting shipped overseas, I would guess it's in the middle of being sold, so is somebody just going to get screwed out of a bus here as Allstate "recovers" their stolen vehicle? |
Yes, it's stolen property.
But this makes you wonder if someone bought the wrong VIN tag for a restoration if that was changed, a birth certificate should verify that?
I saw over 3 VIN tags for sale at BOR over the weekend. |
I think they (Port Authority) looked up the VIN and realized that it was stolen due to the VIN...
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camerod
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SGKent
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Location: Citrus Heights CA (Near Sacramento)
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| Posted: Thu Nov 05, 2009 11:16 pm Post subject: |
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| according to the LA Times the restoration shop who sold it is in Arizona. They said he bought it in good faith and restored it for about $25,000. I guess the question for the attorneys will be did the State of Arizona issue him clear title when he bought it? If he is just holding a bill of sale then he probably will lose what he put into it but if he got a clear title, Arizona will have to back that title up I think. If they don't then what is the purpose of a title? |
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SGKent
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Location: Citrus Heights CA (Near Sacramento)
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| Posted: Thu Nov 05, 2009 11:42 pm Post subject: |
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| Quote: |
A sunroof standard- nifty deal. I feel sorry for the european investor/restorer who just got hosed. I thought anybody who possesses stolen property is hosed. He'll go after the US seller- who'll go after the mechanic who had the lein- who'll go after the flipper from the North- who'll go after... You can bet when it's all said and done- someone on Craigslist from Montana or Walla Walla, WA is going downtown!
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None of the articles mention whether it was licensed or not and if so by which state. Legal cases have even been returning paintings stolen during WWII so in the end this bus is going back to Allstate or the original owner. But if the car was licensed and te PO can't be found then IMHO there will be a flight to cover one's a$$ and the states who licensed it will probably want the sale to go through so they are off the hook. The news articles are probably public notice that it has been found to see if the PO who lost it steps forward with proof. |
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arthurnugen
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Joined: January 11, 2005
Posts: 3081
Location: The PNW, where "going green" means rolling with moss.
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| Posted: Thu Nov 05, 2009 11:48 pm Post subject: |
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| Andy P wrote: |
The insurance co. will auction it, not crush it.
They'd sell their grandmothers for a buck so anything that will attract thousands will see an auctioneers hammer, not a sledgehammer. |
You don't know Allstate, mate.  They'll contact the original owner alright. . . and then charge him for 35 years of storage.
Fuckers.
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ALWAYS WEAR STEEL-TOE BOOTS IN THE GARAGE!
1965 Bus (Riviera camper)
1972 Bug 'vert
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Last edited by arthurnugen on Fri Nov 06, 2009 12:27 am; edited 1 time in total |
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Soul Built
Pimpin' Aint Easy
Joined: August 28, 2004
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Location: SoCal
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| Posted: Thu Nov 05, 2009 11:49 pm Post subject: |
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VW's in the Headlines. News Man said "it could be worth 100K easy." 
It is a nice Bus but not THAT nice.
Last edited by Soul Built on Sat Nov 07, 2009 11:25 am; edited 1 time in total |
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Vermeulen
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Vermeulen
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folks55
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Location: High Desert Ca
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| Posted: Fri Nov 06, 2009 7:51 am Post subject: |
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| I think there should be a statue of limitations on stollen property. If the previous owner lost the car 35 years ago and All State payed them for the bus than All State should let the bus go. You all know that bus has been paid for over and over with costly insurance premiums rising over the last 35 years. They are wanting to claim something that happened so long ago like it was a murder case or something. There should be a time limit on stollen property claims cause once DMV looses the vehicle in their system ( usually 10 years) than insurance companies need to drop their claims and write it off as a loss. Who's to ever say that a barn find without title being purchased is legit, especially with so many barn finds these days.. |
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deepseeman
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Ragman
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