Originally Posted by paulb
Just try to sell any regular piece of furniture in your house - pennies on the dollar!
Tough to accept but the same here -
No it's not. Those pieces of furniture were mass-produced and mass-marketed, and for any one piece there are likely 100's of thousands, if not millions, in the country.
If the vehicle in question was a Wrangler, the comparison would be fair.
However, we're talking about a NAS Defender; only a small number exist in this country. Therefore, it's entirelt possible that intangibles like scarcity value will dominate utilitarian considerations in determining its FMV.
'was just reading an article on the plane about bottles of wine with FMV's of over >$50K, even though they are most likely undrinkable due to age. Same thing - mystique, scarcity value.
Of course a big gotcha with intangible value is that it are highly dynamic and subject to whims of fashion. It can swing wildy up and down for little reason.