IRS Auction: 1960 Porsche 356 Roadster Project

1960-porsche-356-convertible-rear

UPDATE: Turns out that this is one is actually a Roadster!

This could be your chance to pick up a 356 convertible project on the cheap. This one was seized by the IRS after the owner failed to pay their taxes. The only problem is that most of the car is missing, including the engine. The auction will be held in  Kuna, Idaho on Thursday with a minimum bid of $6,000. It would take a lot to bring it back to original, so it might be a good candidate for an outlaw build?

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Comments

  1. rancho bella

    Don’t waste your your time. Even at a minimum of 6K you would be considered by anyone that knows you as D.O.A concerning any sense. This needs to go to the Emory’s or Adam at Unobtainium

  2. Your Name

    Look again
    This is a Roadster not a cab
    It also is showing late wheels and may already have been converted to disc brakes.
    Top frame is there as are bumpers and the trans. With good roadsters at with 200K marque there is a lot of room here to have a car for well under market even as a non matching number outlaw roadster….

    • Jesse Staff

      Good eye! I just checked the VIN (87987) and you were right, It’s a T5 Roadster. Not sure if it was originally an S-90 or Super, but I suppose you could whichever direction you want to here since the original engine is not available anyway. A VW engine may even be appropriate if you are going the outlaw route. More power for a lot less money.

      • Peter Carrillo

        Jesse, please help me find my 1960 Porsche Roadster I purchased my car in 1974 for $1,500.00 plus a wrecked 1958 coupe.
        It was totally restored in 1980 by an old man named Hal who was the greatest body man I ever met. He used lead sticks to finish the body work and the body was sandblasted to remove the old red paint. It was then painted with black lacquer by a man named Huey who has only one good hand.
        My car was stolen in March 1994 and this left me without a car and no transportation. Additionally I had no insurance. I purchased this car with the $1,500.00 I saved while serving in the U.S. Marine Corps in the I Corps region of Viet Nam from October 1966-November 1967.
        I still have the pink slip, keys and one picture of my car. Sincerely Peter Carrillo, Sacramento, CA

      • Jesse Staff

        Email us a photo and any other information you may have. We will give it a shot. mail@barnfinds.com

  3. dj

    Why does the front clip look like it’s fiberglass and broken in the middle. Also some is cut off at the front of the door with it not fitting. I don’t know about this car. And not knowing makes me uncertain. And there is no way all the parts are there.

  4. joelonzello

    The IRS did the owner a favor hauling it away

  5. jim

    may or maynot be an encumbrances or interest that is superior to IRS’s! none listed as of yet, but don’t know how long you have to wait if you win the auction before it is yours free and clear. looks like tax problems started more then 10 years ago. so how long has car been sitting?

  6. scot

    ~ ” may or maynot be an encumbrances or interest that is superior to IRS’s! ”
    i think the IRS takes precedence over any private lien. a law unto its self.

  7. Horse Radish

    Don’t they sell cheap $2 primer spray cans in Idaho Walmart ?
    I don’t get that……

  8. Bryan Cohn

    Its takes a serious screw up to lose a car to the IRS, as they have to be pretty desperate to go after such a low dollar amount. Wonder what else this genius let the IRS seize?

    I had a customer go belly up while doing a frame up rebuild on his Van Dieman RF75. The IRS agent came by, had a look at the car, looked at what I was owed and sign it over to me on the spot. Documentation and possession FTW!

  9. Dolphin Member

    The upside:
    – It’s a Roadster
    – It’s cheap (maybe)
    – Possible basis for an Outlaw.

    The downside:
    – Not much of it is there. It comes with “many parts”……Where are they?
    – Even if there are many parts, it still needs everything.
    – If you want to make it into an Outlaw, then it still needs almost everything.
    – Maybe worth considering if it were a Speedster (current SCM valuation for a #2 car =$150K-$180K), but a #2 T5 Roadster will be worth $60K-$70K less, and you will be underwater with this one.
    – “There are encumbrances” is a scary thing when buying any car. When you are buying a car like this from the IRS as a seized vehicle, it’s a TERRIFYING thing. Be sure to have a good lawyer and a few hundred thou$and for fees if things get sticky and you need to litigate. If so, better to walk away.

    Buy a T5 Coupe driver instead. It won’t be a Roadster and it will take more money than the probable auction high bid, but it will cost a fraction of the total restored price and aggravation of this Roadster, and you will get 90% of the enjoyment of owning and driving a 356. And you will be driving it years sooner.

    • scot

      ~ what he said ! in spades. the government is telling us that we are welcome to bid an amount, but that the real price is not determined by our bid, not even by our bid plus the vig,

      dear seller; i will sell or restore the vehicle you have listed to your specifications.. all additional cost and risk to paid by you. a greed???
      taxpayers make all kinds of stupid mistakes.

  10. Chris

    Just because its a governement auction, dont let it fool you. They get a good amount of bidders for those type of auctions as well as they also bid stuff way more then the average market value is worth. Ive seen it happen before.

    I dont know why this comment was flagged as me being new here. Ive made several responses in the past. Wierd.

    • Jesse Staff

      Chris, that happened because you used a different email address. Our system can only identify you by the name and email entered. Perhaps we need to let people create accounts. That would prevent what happened to you and allow everyone more control over their comments.

      • Chris

        Chris
        That makes sense then. Could have sworn I used the same email. Oh well, at least now I should get recognized either way.

  11. TVC15

    My guess , the owner has all the bits and will have a friend by it back for him ? also buying from the IRS !!!!! red flag time !

  12. Chris A.

    TVC15 has made a good guess. I’m also guessing the engine, etc. are squirreled away with the “friend”. May have taken the IRS time to find even this much. New way to go underwater: $6,000+, then restoration costs $$$, then add legal fees $$$. My guess is an asset only bankruptcy with the IRS being owed a huge amount, plus interest and penalties. Not for the faint of wallet.

  13. braktrcr

    So where does the SBC go again? Naww not in this one

  14. Chris

    That makes sense then. Could have sworn I used the same email. Oh well, at least now I should get recognized either way.

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