Woody
Woody GRM+ Memberand SuperDork
11/2/11 6:18 a.m.

http://latimesblogs.latimes.com/lanow/2011/10/classic-porsche-930-stolen-23-years-ago-seized-at-port.html

Classic Porsche stolen 23 years ago seized at port October 28, 2011 | 1:30 pm

A collector’s Porsche 930 Turbo that was stolen 23 years ago was seized by alert federal port inspectors in Los Angeles as it was preparing to be shipped to the Netherlands.

Officers with U.S. Customs and Border Protection (CBP) assigned to inspect outbound shipping cargo discovered Tuesday that the car had been stolen when they checked the vehicle identification number.

The 1976 cherry-red car missing its engine came up as stolen out of Las Vegas in 1988, said Marlene Figueroa, supervisor of the agency’s outbound enforcement team at the Los Angeles/Long Beach Seaport, which inspects cargo leaving ports in both cities.

The owner is listed as an insurance company, which paid off the original owner when the car was stolen, she said.

The car appears to have been well-traveled in the intervening years. Figueroa said records show it has been registered since 1988 in New Jersey, Florida and Washington state. It’s unclear how it could be registered in those states without being flagged as stolen.

Figueroa said it’s also unclear whether the exporter, a private owner, knew the car was stolen. It was being shipped to someone in the Netherlands.

With its engine, the Porsche would be worth more than $70,000, according to an agency appraiser, Figueroa said.

Every day, between 500 and 1,000 cars are exported abroad from the ports of Los Angeles and Long Beach.

Officials have increased scrutiny of cargo in the last few years with random physical checks, as well as X-rays of containers, Figueroa said.

In the 10 months ending in August, inspectors seized 51 vehicles and another 49 engines heading overseas.

Of those, 24 were stolen, 63 were undeclared, seven were undervalued and six had fraudulent documents.

“The more we look, the more we find,” Figueroa said.

Maroon92
Maroon92 SuperDork
11/2/11 6:34 a.m.

I said fifty cars, not forty-nine n'half.

1988RedT2
1988RedT2 Dork
11/2/11 6:37 a.m.

Wow. A '76 930 is worth $70k?

Woody
Woody GRM+ Memberand SuperDork
11/2/11 7:40 a.m.
1988RedT2 wrote: Wow. A '76 930 is worth $70k?

No.

N Sperlo
N Sperlo SuperDork
11/2/11 7:53 a.m.

Owner has Alzheimers now. He probably had no clue it was gone.

pinchvalve
pinchvalve GRM+ Memberand SuperDork
11/2/11 8:11 a.m.

Loosing a Porsche gives you Alzheimers?!?!??

Basil Exposition
Basil Exposition Reader
11/2/11 8:15 a.m.

Like forgetting your Nazi past is called Waldheimers?

Sorry, old joke.

mndsm
mndsm SuperDork
11/2/11 8:16 a.m.

I think owning one gives you Alzheimers. You think you remember what money looked like, but you're not sure.

noddaz
noddaz GRM+ Memberand New Reader
11/2/11 9:56 a.m.

Without an engine it is just a Challenge car...

Maroon92
Maroon92 SuperDork
11/2/11 10:12 a.m.

A 3.0 Turbo is worth about 20 grand, maybe 10 on a good day without an engine like this one. A 3.3 is worth 25 to 30. A turbo cab might fetch 35 in good shape. A factory steel slant nose 3.3 MIGHT be valued at 70K...maybe.

As with all Porsches, condition is everything.

AaronBalto
AaronBalto Reader
11/2/11 11:12 a.m.

Excellence Magazine has a quick valuation guide. They say lower end a '77 turbo is $29k.

http://www.excellence-mag.com/resources/buyers-guide/186787951

monark192
monark192 Reader
11/2/11 11:26 a.m.

Who is out the money here? The guy that sold it to Holland had a registered car he thought was legal.

itsarebuild
itsarebuild GRM+ Memberand HalfDork
11/2/11 11:44 a.m.

In reply to monark192:

so he says........

monark192
monark192 Reader
11/2/11 1:59 p.m.

In reply to itsarebuild:

Says it had been registered since 1988 in several states. How is that possible?

Otto Maddox
Otto Maddox Dork
11/2/11 2:06 p.m.

In reply to AaronBalto:

Yeah, Excellence said my 944 was worth about twice what I could sell it for. They won't write you a check for those big numbers, but they sure will throw them out there.

spitfirebill
spitfirebill SuperDork
11/2/11 2:44 p.m.
noddaz wrote: Without an engine it is just a Challenge car...

The engine is probably in another box. Match em up once they both get there.

integraguy
integraguy SuperDork
11/2/11 3:48 p.m.

Here's hoping they are also as vigilant when looking at IN-BOUND containers.

car39
car39 HalfDork
11/2/11 4:33 p.m.
monark192 wrote: Who is out the money here? The guy that sold it to Holland had a registered car he thought was legal.

Everybody. Each buyer has to sue the previous seller to recover his cash. A co-worker bought a 65 Vette in the mid 70's and sold it. Two buyers later, it was discovered to be stolen years earlier. Start the lawyer chain and everyone gets sued. My co-worker ended up holding the bag at the end because the used car lot he bought it from went bankrupt about a year earlier, and there was no one left to sue.

Chas_H
Chas_H New Reader
11/2/11 5:49 p.m.

I don't believe anyone is out any money except the current owner. The article states the insurance company owned the car, which means it was recovered after it was stolen. So it is not a stolen car. The list of stolen cars was apparently never updated when the car was recovered. The present owner is likely gonna need to hire a lawyer to get his car back from the feds.

Maroon92
Maroon92 SuperDork
11/2/11 6:48 p.m.
Otto Maddox wrote: In reply to AaronBalto: Yeah, Excellence said my 944 was worth about twice what I could sell it for. They won't write you a check for those big numbers, but they sure will throw them out there.

Plus about a million. They are a decent rag, but they are not the gospel. (Maybe I say that because I write for a competitor.)

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