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Login to post Forums » Off-topic discussion » Best way to sell a new Greg Norman Limited Edition Range Rover Sport

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July 7, 2011 10:52 p.m. M2Pilot Reader

I seem to have won one.

This is 1 of only 67 Greg Norman Limited Editions made. To get one you have to buy one of 66 homes at Mr. Norman's golfing community in Dubai and the car comes with it, or win the 67th one.

MSRP is $82K so I know there'll be a lot of tax to pay. I think I'd like ot sell it but I'm hoping there are enuff rich Greg Norman fans out there who would pay a premium for it.

I'm not a golfer nor do I keep up with professional golf & before I entered the contest, I don't think I could've told you what Mr. Norman does for a living.

I'm on the east coast & I may have to take delivery in Pebble Beach.

Anyone have any ideas on how to sell this thing? Ebay or something better?
July 7, 2011 11:00 p.m. MitchellC Dork

That doesn't sound like a bad deal! Are you hell-bent on having the cash? I imagine that a brand-new pre-owned car is still a pre-owned car. Do you think that a dealer would buy it from you? Some luxury dealer may like to have it in its showroom; I'm sure that Greg Norman means something to a lot of people.

It could also provide you with a nice family truckster for many years, provided that you keep it in tip-top shape. Set aside some money every month for a "repair fund" so that as soon as the warranty runs out, you can cover any unexpected costs. Even if it isn't the type of vehicle that you would normally purchase, it may be nice to have around.
July 7, 2011 11:16 p.m. neon4891 SuperDork

Seriously? Seeing as it is used either way I dont think you would lose too much extra for keeping it 6 months to a year Vs. selling it right away. That said, even if you kept it longer, I would still sell it in warranty.
July 7, 2011 11:16 p.m. wearymicrobe HalfDork

How in the heck did you run across one of those. Whats gift tax nowadays 47% or so.
July 8, 2011 12:21 a.m. M2Pilot Reader

Good point there but see my response to the post after yours.
July 8, 2011 12:28 a.m. M2Pilot Reader

wearymicrobe wrote:

How in the heck did you run across one of those. Whats gift tax nowadays 47% or so.

I'm a sweepstaker. I spend 15-20 minutes a day entering on line. This is the highest value prize I've ever won. Most enjoyable prize was a trip to Oz. I took my son on that one. There's (arguably) not a much better traveling companion for that sort of trip than an 11 yearold son.

I won't be responsible for gift tax. The value of the prize will come to me on a W-2 form for 2011. I'll have to treat it like regular income tax-wise. I haven't investigated it yet but this win may put me in a higher tax bracket. Also,thanks for the 1st respose to this post. We're so far sort of thinking along the same lines.
July 8, 2011 12:41 a.m. madpanda New Reader

If you take delivery at Pebble Beach, that seems to me to be the perfect place to get in touch with all of the luxury car dealers/auction houses who would care. I would suggest establishing contact with them beforehand though so you can just use the time there for price negotiation ;)
July 8, 2011 6:43 a.m. jrw1621 SuperDork

I do not know if is still the same but in years past the magazine called "Robb Report" would be the place to find the car brokers and dealers who could move this.
http://robbreport.com/

Congrats, but this is interesting. I am sure this will yield some money to you but I bet your take will be less than half of the $82k estimated value.
http://www.gregnormanestateswine.com/greg-norman-sweepstakes.php
July 8, 2011 6:50 a.m. Woody SuperDork

Carmax.
July 8, 2011 7:14 a.m. Osterkraut SuperDork

Runs off to go see if there's an easy way to become a sweepstaker.
July 8, 2011 7:22 a.m. chuckles Reader

If it's new and untitled, why is it "used?"

Advertise it as "Complete with choke."
July 8, 2011 7:57 a.m. spitfirebill SuperDork

Pawn Stars.
July 8, 2011 7:59 a.m. spitfirebill SuperDork

chuckles wrote:

If it's new and untitled, why is it "used?"

As soon as its titled in his name, its used. But I've actually seen cars that have been owned by multiple owners be sold as new. Apparently dealerships don't count as owners.
July 8, 2011 8:26 a.m. Strizzo SuperDork

one of the guys on the board of directors of the bank my dad worked at owned the local ford dealership in town, and we were about an hour west of Shreveport where there are a few casinos. he would drive over when there was a big "win a car" drawings and approach the winner, who usually didn't want a car, they wanted cash, so he would offer them around 60% of what the car would have left the lot for, new, take it back to his dealership and sticker it a grand or two below new car price on the used lot.
July 8, 2011 9:26 a.m. pigeon Dork

Is there a cash payout option? Oh, congrats you lucky bastard Personally I'd drive it - you're going to have to pay the tax on the value no matter what, and selling it now as new will likely net you about the same as what trading it in to a dealer in a couple years might get you. It'll have a new car warranty so nothing to risk other than what the value of the vehicle is going to fall to. I'd guess about 50% of sticker in 3 years.
July 8, 2011 9:35 a.m. dyintorace SuperDork

Wow! Very cool.

But why would you want to sell "the most exclusive car in the world"! (according to Mr. Norman's website).

http://www.shark.com/gwse/news/111307.php
July 8, 2011 9:45 a.m. Curmudgeon SuperDork

I'd auction that sucker in Pebble Beach ASAP. I mean, have an ad ready to go, as soon as the keys hit your hand turn the ad loose and get RID of it.

You really do not want that thing around the house on Joe Everyman's salary. Let someone else have the headaches.
July 8, 2011 9:51 a.m. Luke SuperDork

Congratulations! That's a really cool prize. I'd also be wanting to ditch it ASAP. Surely it's gonna depreciate like a rock...or perhaps the Norman-connection grants it some collectability?

Fireside by Greg Norman will feature Jumeirah Golf Estates' most exclusive and luxurious homes, representing a stunning collection of 66 expertly designed and decorated villas. Each residence will come with the Greg Norman Limited Edition Range Rover Sport.

How will the neighbours be able to one-up each other, if they're all driving the same car???

Reading that last part back to myself...I sound bitter and poor .
July 8, 2011 9:59 a.m. oldtin Dork

Wow - congrats on the win. I'll venture to say it isn't super collectible - maybe to some golf fanatic like in a bunch of South Fla, but might hit someone's brag button - I like the Robb Report/Pebble Beach/Amelia Island ideas. I'd drive it a little but try to move it along before it hit 5k.
July 8, 2011 10:11 a.m. dankspeed Reader

Barrett Jackson!
July 8, 2011 10:37 a.m. wearymicrobe HalfDork

M2Pilot wrote:

wearymicrobe wrote:

How in the heck did you run across one of those. Whats gift tax nowadays 47% or so.

I'm a sweepstaker. I spend 15-20 minutes a day entering on line. This is the highest value prize I've ever won. Most enjoyable prize was a trip to Oz. I took my son on that one. There's (arguably) not a much better traveling companion for that sort of trip than an 11 yearold son.

I won't be responsible for gift tax. The value of the prize will come to me on a W-2 form for 2011. I'll have to treat it like regular income tax-wise. I haven't investigated it yet but this win may put me in a higher tax bracket. Also,thanks for the 1st respose to this post. We're so far sort of thinking along the same lines.

If you get a W-2 that is great, all my winnings/bonuses in the past have been at about 45% given my tax bracket and california so really a mute point for me. Maybe its different for cash over a actual item. Income tax is progressive so you only pay the increased rate on the $ amount that goes over the next bracket. (I am sure you know that)

As for sales, ebay, or a local exotic dealer might want to take it on commission sale. Symbolic our local Lambo/lotus/roll's/bentley dealer does that all the time and they can offer finaincing so they get you about the same amount of cash if you sold it yourself with the upchage for them being a dealer.
July 8, 2011 12:15 p.m. pinchvalve SuperDork

I own one of the 66 houses in Dubai, and I gotta tell you, the Range Rover is pretty nice. I'd keep it.
July 8, 2011 12:56 p.m. Strizzo SuperDork

pigeon wrote:

Is there a cash payout option? Oh, congrats you lucky bastard Personally I'd drive it - you're going to have to pay the tax on the value no matter what, and selling it now as new will likely net you about the same as what trading it in to a dealer in a couple years might get you. It'll have a new car warranty so nothing to risk other than what the value of the vehicle is going to fall to. I'd guess about 50% of sticker in 3 years.

don't high dollar luxury cars such as this have a historically higher depreciation over that time frame? like, 25-30% of new value in 3 years? i think thats how a few people on this board got into 7 series bmw's for new camry money iirc.
July 8, 2011 1:13 p.m. Joe Gearin Associate Publisher

The only folks that will care about the Greg Norman connection are hard-core golfers, and Australians. I'd see if high-end country club communities have a local classified community paper and list it there.

I'd also list it in a golf magazine or two, in their classified section.

You may also have luck placing it into a high-end Australian publication, as he is a legend over there.

High end golf communities that come to mind:

Scottsdale, AZ

Ponte Vedra, FL

Winter Park, FL

Pebble Beach / Monterey, CA
July 8, 2011 1:25 p.m. Keith SuperDork

Joe Gearin wrote:

The only folks that will care about the Greg Norman connection are hard-core golfers, and Australians. I'd see if high-end country club communities have a local classified community paper and list it there.

And general purpose snobs. After all, it IS number 1 of 67. Just remember of all those Eddie Bauer Expeditions. I don't think they all sold to hard-core outdoor enthusiasts (which is not the same as an outdoor hard-core enthusiast when I think about it).

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