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Old 09-08-2010, 09:45 AM   #6
Bruce Lancaster
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Join Date: May 2010
Location: Madison, NJ
Posts: 5,230
Default Re: Buying V-8 Fords Far From Home

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But an extremely large amount of cash in a bag is indeed very common at big shows. No delay, no doubt, no worrying about scams. Cash transactions on cars are usually accompanied by an agreement on cost that will go on the title transfer...many people want cost of car lower than actual on registration, and many buyers are...ah...tempted to underreport the sack of cash to the IRS, and in such a world they both need to know what numbers will be visible to authorities.
A '32 roadster costs about one medium McDonald's bag full of 20's and 50's.
This is a trusting world around old cars, but anything involving bank transfers, checks of any sort, and electronics is not trusted...no normal human understands all the possible tricks in that sort of thing as well as the scammers, and people know that, so anything with a bank in it will delay the transaction until money is actually in the hands of the seller. That means cashed out of the bank so no possible problems.

Hershey transaction I watched once: Grouchy old guy standing in the mud, surrounded by magnificent full classic dashboards with acres of machine turned glitter and rows of gauges.
Another old guy walks up, stares at a particularly impressive dash that would have impressed even Clark Gable, and poked it with his toe. "How Much??" "Five."
Old guy pulls out a roll of hundreds the size of a Locomobile piston, whips off and hands over 50 bills, and stomps off through the mud with dash under his arm and a still huge bulge of money distending his pocket.
A guy like that probably had a 5-gallon bucket full of hundreds back in his truck in case he ran out before getting lunch.
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