Specialist dealer sold my car but won't give me proceeds...

[Tosh]

Al
You are a braver man than me - and I am a trusting sort
Really hope it works out for you and your trust is rewarded. It deserves to be.

[MikeB]

Al

Sorry to hear this, hope you get a good result.

[IanM]

Fingers crossed for Flat 6.

Although I'm not a newbie as I twice had a 72 (last sold in 2012), I recently paid a deposit for another early 911 (no, not the one on ebay), but I when I read news like in this thread, it makes me think "why bother?"

Is it really worth the stress and risk? Are classic cars good assets for the future? What if the market crashes big time?

[takeflight]

My understanding is if a business sells something SOR then the monies go into a separate account with the commission going into their accounts, otherwise the total received from the buyer would count to their turnover and may attract tax’s, etc. A friend sells live steam trains, garden railways sor and that’s the way he does it to satisfy the tax man.
Also do you hand over the docs etc to a dealer with the car, if so what happens if he goes bust, I have also heard of a case of a well known specialist not Porsche who had a customers car and during a premises move lost its history, I don’t know the out come but surely this what wipe off a lot of value.
So eBay etc may have its faults but at least your in control.

[Sam]

Ah. He’s paying you tomorrow. That’s fine then. Tomorrow is tomorrow. Until it’s tomorrow. Then it’s the next day...

Get the court form filled in. When he pays you tomorrow you can cancel it.

[mycar]

Make your mind up Sam, last page you said he was probably a decent guy with family problems.

[sng45]

Ah. He’s paying you tomorrow. That’s fine then. Tomorrow is tomorrow. Until it’s tomorrow. Then it’s the next day...

Get the court form filled in. When he pays you tomorrow you can cancel it.

This - DEFINATELY !

[takeflight]

Fingers crossed for Flat 6.

Although I'm not a newbie as I twice had a 72 (last sold in 2012), I recently paid a deposit for another early 911 (no, not the one on ebay), but I when I read news like in this thread, it makes me think "why bother?"

Is it really worth the stress and risk? Are classic cars good assets for the future? What if the market crashes big time?

If your buying cars to give to a dealer for profit, then great if that works for you, if your buying because you enjoy the car and maybe the stuff that comes with it, meets etc then like any hobby it will probably cost you. If you won’t it as an investment then it becomes difficult, because there’s so many that are hunting for the same, usually low production number cars, with matching numbers and low miles,history and all original.

As far as stress and risk only you can decide that.

I hope the guy gets all of his money, I know what he’s going through, I nearly lost £70,000 because of a dealer. But with help from the Porsche community it was sorted.

All I would say is,just because a dealer is well known, advertises every were, occupys nice premises, doesn’t mean jack s*it. In fact it’s just the opposite the guy that works from off the Beaton track premises, hardly advertises, web site, some what dated not a brochure in site,is probably the guy to go for, he doesn’t need stuff to help sell, his work and reputation is enough.

[Sam]

Client accounts are how lawyers and letting agents and stuff do it.

But since money laundering checks came in most banks don’t do client accounts as it’s too much hassle for them.

It’s also still perfectly possible to empty a client account and run away.

[Bootsy]

About 30 PMs answered - not doing himself any favours and interesting to hear more similar stories related to the same trader

[Sam]

Make your mind up Sam, last page you said he was probably a decent guy with family problems.

That wasn’t it. I was saying it’s unhelpful to say the dealer is a crook and should be put in the stocks.

That sort of think is unlikely to get the dealer to do the right thing. A bit of empathy might.

[Grenoble39]

This is indeed an appalling situation, and I am staggered that some have tried to advance mitigating circumstances - there are none! Sadly this serves to give the Porsche world a very bad name. As someone who unfortunately found myself involved with a dishonest Porsche restorer (recommended, I would point out, by someone who posts regularly on here) I understand the nightmare the seller is going through. Owning a classic Porsche is an expensive enough interest without becoming inadvertently involved with the dealers and restorers who are clearly operating on the wrong side of the line.
This forum is wonderful for sharing knowledge and information about our enthusiasm, and I hope it is able to help members avoid frightening experiences such as this.

[markm]

All,

I have had a discussion with this dealer and have agreed to back off temporarily while he sorts his sh1t out at his end. He promises the money today or tomorrow.

So I will be going quiet for a few days and I would ask you to do the same.

Some of you will think me a mug. Maybe I am.

I'll be back with a report asap.

Al.

Al, you are a very patient man, do you think if you didnt pay your mortgage for your house for 2-3 months, would the bank/ building society be so patient, also if you have a car with finance outstanding, would the finance company accept non-payment for 2-3 months

Not knowing the situation fully, just reading what is on here, i woud be seriously worried as to whether i would be being paid, irrespective of whatever sob story you are being given, after the time you have waited i would name and shame wherever possible and go legal with immediate effect, tomorrow never comes

If i was a bettig man, i’d have a tenner on your next conversation with them.

Can you afford to loose the monies you are owed? Having not been paid, has it stopped you doing something you wanted to do?

[mycar]

It's good that pressure can be brought by a forum like DDk and social media.

What puzzles me is how, with the incredible increase in prices of early Porsche cars, a well established dealer like this can treat his client so badly

These cars have increased in value by maybe 500 to 800% over the last few short years. How can the dealers who regularly trade these profit monsters still continue to offer such a sh1t service ?

Because motor trade ?

[Nige]

Basically this is theft/fraud thus far.

I wonder if the buyer would have handed over the money knowing this would have happened?