Last 30th Anniversary BMW M5 sold for $700,000 to Rick Hendrick

[Mark]

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Last 30th Anniversary BMW M5 sold for $700,000 to Rick Hendrick

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The auction for the last unsold 30th Anniversary BMW M5 took place on January 15 at Barrett-Jackson in Scottsdale, AZ. In the end, NASCAR team and BMW dealership owner Mr. Rick Hendrick took home the car for $700,000. The money goes "The Ultimate Driving Community . . . Building the Foundation" Capital Campaign of the BMW CCA Foundation, a campaign to raise funds for teen driver safety programs and the preservation of BMW history.

Mr. Hendrick is an avid car collector, owning over 200 cars in his North Carolina museum. After the auction, he was quoted as saying "This baby's going to go right beside the i8 in the museum. The only miles it's going to get are in the truck (sending it from Arizona to North Carolina.)"

Mr. Hendrick is also well known for other high priced auctions, including $1,000,000 for the first C7 Stingray Corvette, $1,000,000 for the first C7 Corvette convertible, $1,000,000 for the first Z06 Stingray Coupe and $250,000 for a ZL1 Camaro.

Tip of the hat to you sir!

[Downeaster1]

Thad cool and all, but what an idiot.

[N54Twin]

Bimmer love brother....

[ZEEM3R]

The word "dumbass" doesn't even begin to describe this.

[Mr.SugarSkulls]

Nice ride...but I struggle justifying the MSRP on it! Let alone 700k.

[Andy335i]

People like that make me feel good about my decisions.

[Piotr74656]

Welcome to the billionaire club. To the above posts, I do not think that he needs to justify the price, so long that he gets what is desired.

[dbworld4k]

Man, some people have way too much money than brains.

What the actual fuck.

[MRV99]

Why is he an idiot or dumbass?? He is a massively successful business man and he is worth a BILLION dollars.

700k is practically a rounding error on his net worth. This was for CHARITY and Rick does massive amounts of charity contributions every year. Some people just write a check, others GROSSLY over pay for a car in the name of charity. If you ask me it's a double win, he gets a car, charity gets a fat check.

[heart_doctor]

Originally Posted by Downeaster1

Thad cool and all, but what an idiot.

Agree. I'd rather buy a lambo for that amount of $$$

[AWE46M3]

its for a good cause. why not?!

[heart_doctor]

Originally Posted by MRV99

Why is he an idiot or dumbass?? He is a massively successful business man and he is worth a BILLION dollars.

700k is practically a rounding error on his net worth. This was for CHARITY and Rick does massive amounts of charity contributions every year. Some people just write a check, others GROSSLY over pay for a car in the name of charity. If you ask me it's a double win, he gets a car, charity gets a fat check.

He's better off writing a check. He can't deduct it because he got something in return. I understand the whole charity thing but the only person who can deduct is whoever donated the car. The purchaser cannot deduct from their taxes.

[erichighley]

He's worth north of $1 billion. That decision hurt his pocket about as much as your decision to fill up gas today hurt yours.

[JoNaH]

Not sure why people mad at this guy and calling him stupid and other terms. But he's got a billion dollars so he can do what he wishes with his money as long as he's not harming anyone.

[kd0t]

Must be nice to have THAT much disposable income

[M2 dude]

Originally Posted by Andy335i

People like that make me feel good about my decisions.

This^^^

[M6-Coupe]

Originally Posted by erichighley

He's worth north of $1 billion. That decision hurt his pocket about as much as your decision to fill up gas today hurt yours.

Right

[wdeerfield]

Originally Posted by MRV99

Why is he an idiot or dumbass?? He is a massively successful business man and he is worth a BILLION dollars.

700k is practically a rounding error on his net worth. This was for CHARITY and Rick does massive amounts of charity contributions every year. Some people just write a check, others GROSSLY over pay for a car in the name of charity. If you ask me it's a double win, he gets a car, charity gets a fat check.

amen to that.. oh and the deduction on his tax return..

Originally Posted by heart_doctor

He's better off writing a check. He can't deduct it because he got something in return. I understand the whole charity thing but the only person who can deduct is whoever donated the car. The purchaser cannot deduct from their taxes.

http://www.irs.gov/Charities-&-Non-P...arity-Auctions

"Donors who purchase items at a charity auction may claim a charitable contribution deduction for the excess of the purchase price paid for an item over its fair market value. The donor must be able to show, however, that he or she knew that the value of the item was less than the amount paid"

[yousefnjr]

HA. Yeah, what an idiot. He's only more successful than all of us combined and donates heavily to charity, but yeah, you tell him Bimmerposters

[X2Board]

C'mon guys, look at what the money is going towards. I'd do the same if I had the means!

[F82FTW]

There's a sucker born every minute.

[VCP]