In the market for an exotic car? Even if you aren’t planning to spend hundreds of thousands of dollars on your next vehicle, there’s an exotic car auction that might be worth your time.
Exotic car collector Jeffrey L. Mowen was indicted in a fraud scheme worth millions of dollars. Just after being charged in the fraud scheme, Mowen left for Panama. He’s also charged with attempting to have four witnesses killed.
Mowen is famous for his car collection, which includes many vintage and exotic cars. He has a DeLorean and a replica of the “Dukes of Hazard” car. In addition, the collection includes Bentleys, Porsches, BMWs, and Mercedes. The collection has been seized by the U.S. Marshall’s Service.
In all, the auction will include 220 classic and exotic cars. Exotic car storage for these vehicles is costing the U.S. Marshall’s Service a lot of money. For storage alone, the government is paying $20,000 per month.
The U.S. Marshall’s Service simply can’t continue to pay these storage fees, so they have obtained court permission to sell the vehicles before Mowen is officially tried. If he is acquitted, he will receive the proceeds from the sale.
If Mowen is found guilty, the money will go to defrauded investors and other victims of the fraud scheme.
Exotic car storage is just one of the expenses associated with a collection this size. In addition, a collector would need to pay for car insurance and maintenance work.
For many exotic car fans, it simply makes more sense to rent an exotic vehicle. Exotic car rental is an increasingly popular alternative, which gives enthusiasts a chance to drive the cars of their dreams without the hassle that comes with owning an exotic vehicle.
Another great option is joining an exotic car club. Car clubs let members share a garage full of exotic vehicles. It’s like being an exotic car collector without all the responsibility.
Mowen’s car collection will be auctioned off on January 5, 6, and 7 in North Salt Lake. The auction has been attracting the interest of car collectors from far and wide.
“To me, this is better than a museum collection because you have a lot of period cars, and then they’ve been modified and super-modified,” Rob Olson of Erkelens & Olson Auctioneers, told Fox13Now. “You do not see this type of collection under one roof very often.”
Kate Miller-Wilson is a professional freelance writer, specializing in web content writing and technical writing.
