It's almost a crime for something to be that pretty...
It’s entirely possible I’m developing an unhealthy obsession with VW Buses, but I’m not entirely to blame: our beloved commenters keep encouraging me! It’s really not my fault!
FTGDHoonEdition sent in a tip to an article from the LA Times about a beautifully restored VW Bus that was recovered in a container bound for Europe. After a great deal of work, the Bus had recently emerged from a complete rebuild and restoration, and was being delivered to a purchaser in Europe. When US Customs agents ran the VIN, they discovered that the vehicle had been listed as stolen, and paid out by AllState insurance — back in 1974.
The article points out that it had been paid out for around $2500 back then, and was now worth around $25,000. Since it now belongs to the insurance company, this seemed like a pretty good deal. But that got us thinking: is it?
Regardless, it’s a pretty raw deal for the restorer, who is not a suspect in any way; he’s out the entire amount of the purchase and the cost of restoring it. But is it really all that great a deal for AllState? They paid out around $2500 in 1974. First off, that is the equivalent of between $12,000 and $18,000 in 2009 dollars. So perhaps they made out fairly well. If, however, they had just invested that $2500, back in 1974, it would be worth over $30,000 today — between $34,000 and $37,000 in fact, depending on the type of investment.
The only things we can say for certain about this story are these: when a vehicle is stolen, everyone loses, even if its recovered later; and that is one hellova nice BugBox.
[Source: LA Times]
It was actually recovered 10 years ago – it's taken that long to drive it back to Spokane from LA.
That made me laugh. And sadly, you're probably not far from being right.
That is a nice bus. What I really want to see is a Turbo Porsche engine stuffed into the back of one of those, that'll keep it air-cooled and make it actually get up and go somewhere (especially hills).
[youtube powVngJ-Ljc http://www.youtube.com/watch?v=powVngJ-Ljc youtube]
Here, allow me.
[youtube powVngJ-Ljc http://www.youtube.com/watch?v=powVngJ-Ljc youtube]
Here, allow me.
I love seeing that.
I like that. A lot. I would have rather they not transition to the white 911 on the way through Eau Rouge though.
Oh right I remember that, damn thats awesome. It's probably what gave me the idea to do that.
You just made my week!
Oh you never cease to make me the happiest girl ever. It's beautiful. That resto cost a WHOLE lot. So what happens now? Does the original owner get a call back from Allstate saying, hey, give us our $2500 back and you can have your car? Because I'd be sellin' the kids to get that $2500.
Hm, I'm guessing that the CEO of Allstate might have allowed that write-off to quietly disappear into his driveway except for all the pesky news coverage of this story (NPR this morning for example), and for the fact that President Palmer (I mean, Dennis Haysbert) makes them seem all cuddly and ethical!