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re: Barrett-Jackson car auction in Scottsdale this weekend
Posted on 1/17/15 at 10:55 am to Deactived
Posted on 1/17/15 at 10:55 am to Deactived
I love watching Barrett Jackson, but I always fall asleep watching it 
One thing I was wondering after watching the other day...how do these charity auctions really work? For example, a rigged out 2015 Jeep Wrangler was auctioned off for I think $70,000ish (someone who was watching correct me if I'm wrong)...that's obviously way over value of the vehicle. So how does that work? I know this guy didn't actually pay 70,000 dollar for a run of the mill jeep with a bunch of accessories. Do they get the vehicle and then anything over the appraised value of said vehicle as a charitable contribution deduction??
One thing I was wondering after watching the other day...how do these charity auctions really work? For example, a rigged out 2015 Jeep Wrangler was auctioned off for I think $70,000ish (someone who was watching correct me if I'm wrong)...that's obviously way over value of the vehicle. So how does that work? I know this guy didn't actually pay 70,000 dollar for a run of the mill jeep with a bunch of accessories. Do they get the vehicle and then anything over the appraised value of said vehicle as a charitable contribution deduction??
1
Posted on 1/17/15 at 10:58 am to jordan21210
quote:
Do they get the vehicle and then anything over the appraised value of said vehicle as a charitable contribution deduction??
That's exactly how it works.
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