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either by purchase, exchange of one classic car for another, or
as trade-ins from new car customers to reduce the purchase price
of a new Cadillac or Buick. The dealership’s purpose in
acquiring the classic cars was to enhance their value by
restoring them and selling them at a premium price.5
The dealership viewed potential buyers of the classic cars
as a select group of mostly wealthy classic car enthusiasts, and
designed a strategy to reach them. The dealership’s strategy
involved building the dealership’s reputation as a source of high
quality classic cars by entering the cars in auctions, auto
shows, classic car competitions, and displaying them at
promotional events for the dealership or third parties. For
instance, the classic cars were displayed at events frequented by
wealthy individuals, like the Alley Theatre and the annual
Lakewood Yacht Club Wooden Keels and Classic Wheels event. The
classic cars were also prominently advertised in brochures,
booklets, newspapers, and magazine articles, and a placard
describing each car was also placed on each vehicle.
Potential buyers of the classic cars were directed to Mr.
Taylor or a broker the dealership hired after Mr. Taylor died.
5The classic cars were insured, and the insurance policy
covered “all owned antique, classic and special interest cars
held for sale by the insured.” The classic cars were also taxed
by local property taxing authorities as “motor vehicle
inventory.”
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Last modified: May 25, 2011