SOMETHING WICKED THIS WAY COMES
- Thread starter bigmike32172
- Start date
doctorbob
Enthusiast
Well, if you are bored then don't buy any raffle tickets if this for the '06 ASC Diamondback Viper...just gives me more opportunities to win the car.
KenH
Enthusiast
3.5 seconds 0-60
80lbs lighter
615HP
Big name = McLaren
$750,000 to develop
What do I win - the car?
Not a viable production setup and no you couldn't drive it in the rain, but for something like a one-of-a-kind raffle car, this would be a killer setup. I for one would be standing in line to buy multiple tickets if I had a shot at this puppy, but that would be quite a trick for the VCA to pull off. My guess is that they are going to send out posters with each membership renewal. Don't want to set my expectations too high
80lbs lighter
615HP
Big name = McLaren
$750,000 to develop
What do I win - the car?
Not a viable production setup and no you couldn't drive it in the rain, but for something like a one-of-a-kind raffle car, this would be a killer setup. I for one would be standing in line to buy multiple tickets if I had a shot at this puppy, but that would be quite a trick for the VCA to pull off. My guess is that they are going to send out posters with each membership renewal. Don't want to set my expectations too high
InjectTheVenom
Enthusiast
- Joined
- Mar 10, 2004
- Posts
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Seems like KenH found the final pieces to the puzzle, two of the hints can be seen in that picture. I'm wondering if it's the Diamondback show Viper or a second car though.
MoparMan
Enthusiast
If the car cost $750k to develop and you win the raffle does that mean you owe income taxes on $750k to the IRS?
GTSPOWERED
Enthusiast
The tax on the last few raffel cars is what kept me from buying a ticket.
big-n-italian
Enthusiast
but patrick - i really doubt anybody would be interested in buying raffle tickets for a used Daewoo!
Lawrenzo
Enthusiast
That's an excellant question. I would hate to get hit with a $300,000+ tax bill after "winning" this car
No. It is not the cost of development. It is the fair market value at the time of the win less the cost of the tickets you bought to play. It could be more or less. With that said, I hope that an arm's length value by an independent, reputable appraiser is placed on the vehicle if it is the subject of a raffle. Otherwise I would not go near it with a ten foot pole. When you win, they are obligated to send you a 1099 with the amount of the win since it is over $600.00. From the condition of the wheel shown, it looks like it may have a little wear and tear on the vehicle. Good luck all.
Bob
MoparMan
Enthusiast
Bob, thanks for the answer.
I guess what's troubling is that a one-of-a-kind show car like this could easily be determined to have a ridiculous market value. In the past, the cost of labor and materials for custom paint jobs, etc have been added to the raffle cars sporting such items, correct? Who's to say that ASC doesn't declare the value of the vehicle at $650K, thus making the prize undesirable to win due to the exhorbitant taxes on it.
I think it's only reasonable to expect that if there is a raffle for this car that the value of the prize be announced when tickets go on sale.
I guess what's troubling is that a one-of-a-kind show car like this could easily be determined to have a ridiculous market value. In the past, the cost of labor and materials for custom paint jobs, etc have been added to the raffle cars sporting such items, correct? Who's to say that ASC doesn't declare the value of the vehicle at $650K, thus making the prize undesirable to win due to the exhorbitant taxes on it.
I think it's only reasonable to expect that if there is a raffle for this car that the value of the prize be announced when tickets go on sale.
Agreed and the winner should also receive a written, bullet proof ( from an IRS examination point of view ) appraisal backing up that value. Note that even with an appraisal if the winner flips the car for an amount materially higher than the stated value immediately after the win, the winner would have a hard time sustaining the lower value as the amount of income received.
Ok, I've been called out now ... the truth is, I love my '05 Mamba, I made a big investment to buy it, I plan to keep it for quite a while (it only has 8,200 miles), and I mostly come to this website to share in ways to enhance it or enjoy it more ... I'm not terribly interested in offers to buy/win another new Viper at this time (and I had absolutely no interest in the last Ram truck -- even in Texas) ... thus,
yawn ... to each his own, but the suspense build-up isn't doing much for me ... but hey, if someone want's a new Viper, then this offer may be just the ticket (pun)bigmike32172
Viper Owner
Ok, I've been called out now ... the truth is, I love my '05 Mamba, I made a big investment to buy it, I plan to keep it for quite a while (it only has 8,200 miles), and I mostly come to this website to share in ways to enhance it or enjoy it more ... I'm not terribly interested in offers to buy/win another new Viper at this time (and I had absolutely no interest in the last Ram truck -- even in Texas) ... thus,
Well that *****! They just informed a few of us on here that you were picked as the winner of this car, but I will let them know that youre not interested. LMAO! J/K!
NHL2133
Enthusiast
It is confirmed, get your check books out people! 
And yes, it could be all yours...
Stay tuned for the details (and full pictures) coming up February 15th!
(and man, you guys are GOOD! )
And yes, it could be all yours...
Stay tuned for the details (and full pictures) coming up February 15th!
(and man, you guys are GOOD! )
Dave T (BADVENM)
Enthusiast
Holy crap!! That would make an awesome one of a kind Viper for some lucky person!!
doctorbob
Enthusiast
Chris, just sign me up for twenty tickets. Bob
big-n-italian
Enthusiast
ok chris, it is the 15th where you are at - spill it!!
Lets not forget that the IRS has its own ideas of value. Remember
the home run record ball in baseball a few years back. I think it
was McGuire and he was expected to break the record in the next
game. The IRS came forth REAL quick and said whoever caught the
ball would owe $250,000 in taxes on it or some junk. All you need
is some IRS accountant reading an article about the value of prototype
vehicles to make your life a living hell. There is no way that's a
$100,000 car.
My only hope is that will scare the rest of you into not playing this
raffle and waiting for something like a 1-of-1 pink SRTV.
Warfang
Enthusiast
if i won it, id do anything i could to keep it... it will only go up in value
Sandy G
Enthusiast
It's a Viper mat for under the snake in the garage..........that is what it is!
Y2K5SRT
Enthusiast
Stated ARV for the Michigan raffle license: $120K. Sorry Bonkers, this one will sell out in record time.
Janni
Enthusiast
All I can say is WOW. What an awesome opportunity to own a car - a true one of a kind car. What are these old one off show cars going for at Barrett-Jackson these days - holy cow. THis car would have been destined for either a museum or a crusher - but now - it can be in a VCA members garage - that is way cool.
THANKS!
THANKS!
viper77
Viper Owner
It's the 15th. OK Y2K5SRT , LET HAVE IT!!!!!!!!!!!!!
Y2K5SRT
Enthusiast
Will have it posted this afternoon or early this evening. Just wrapping up a couple minor details as I type this...
Well worth the wait I can assure you!
Andrew/USPWR
Enthusiast
Stop! teasing us
Your like my X-wife
