So I just won an 1198...

[JalopySiR]

So my Dad bought me some raffle tickets for the Lars Anderson auto museum Italian vehicle day for a 2009 Ducati 1198. My Dad call's me yesterday to tell me we won. After the initial shock wore off I thought of a few questions.

Without the vin# I can't get an exact quote for insurance but the lady on the phone said $700-$800/year with my record and discounts. Seem right?

What will it cost me out of pocket to get this thing on the road?
Is there some kind of gains tax, or is it just sales tax on the value?

Then there's registration, yadda yadda...

Also, I don't think I'm a Ducati guy... is this anyone's dream bike? Wanna work something out?

Thanks,

Alex

[highsider]

Hey man, congrats. Good for you.

I'm not a big Ducati guy either, but you may as well have some fun with that thing for a while considering its free and all.

[KillBill]

You lucky bastard..........congratulations!

[DuncanMoto]

Call your accountant about the taxes. They are higher than you think and due earlier than you would think.
If you don't have an accountant, get one.
Otherwise congrats!!!

-TedD.

[-jro-]

that's so frigging awesome! Even if you aren't a duc guy, that bike will fetch you quite a few bucks. Lucky SOB

[Big Draggo]

I'll give you $10,000 cash for it.

[The Snowman]

I won a Cadillac Escalade back in 2006. The bike is actually considered as 1099 income, so based on its value, that's what your income is bumped up to for this year.

Also, when you get the 1099 at the beginning of next year, check what they put as its value versus what local dealers are selling them for.

In my case, the 1099 listed the Cadi at $54K and local dealerships had the exact same one listed for $50k, so I was able to amend the 1099 when I filed my income taxes.

Oh, I ended up selling it on eBay and pocketing $25k after paying off the estimated income taxes. The estimated taxes are due by the end of the next income tax period. If you wait to pay them at tax time next spring, you will also be subject to a penalty. You have until September 15th for both MA and Federal estimated tax payments.

[JalopySiR]

Great info. I have an accountant, and will be contacting her. Poor woman just finished my taxes last week... I'm serious.

[Ericthejet]

Nice score.
I'd ride it for a while and see if it appeals to you over time.

[GNTurbo6]

I will trade you my '87 Grand National for it!

[JalopySiR]

Funny, as a GN is the only domestic I would ever consider owning... but I think I'm done with cars. Any mods?

[Origin]

I will trade you my '87 Grand National for it!

Grand Nationals

[GNTurbo6]

Lightly modded: Upgraded fuel pump, injectors, cold air intake, 3" downpipe to dual 2.5" exhaust, performance chip, biggie oil filter mod, 2-way Viper Alarm, Polk Audio sound system, GTA wheels

A few other things I can't think of right now and I have a decent amount of extra stuff. The only performance part I added was the cold air intake. Other than that I've just been doing maintenance and making it a more enjoyable ride.

[Legion1440]

I hate you....that is all.

PS Congrats

[nixoid]

A nice problem to have. good luck with the taxes and insurance. I know a 57 yo guy who bought a 848 and they wanted to wack him for 2500/year on insurance. Shopped around and ended up getting it for around 800.

[Stan]

Wirelessly posted (BlackBerry9530/4.7.0.151 Profile/MIDP-2.0 Configuration/CLDC-1.1 VendorID/105)

Sick congratz have fun and be safe with it.

[xrocket21]

CONGRATS!!!!

[sdog30]

Wow. Pretty amazing. I'm sure the sales tax and excise tax on that thing is going to be a lot. Also, insurance in Holyoke is HIGH!! When I was moving from Medford, I looked it up and Holyoke was almost as much as the big city.

Wish I had something to offer you, How about a 98 CBR 600 and an 06 Ninja 250?

[Pittenger5]

Ill give you a hand job for it. But no eye contact.

[Quigs]

Bad-fucking-ass dude, congrats!

[brendanp]

you lucky SOB!

[whynot]

Way to go. Another source for Ducati info is www.nedoc.org, and maybe someone there would take it off your hands.

[Dieseldan]

damn that is awesome

[JettaJayGLS]

I had a feeling I would see a post like this somewhere....

Congrats! I'm unbelievably jealous.

[richw]

Serious stuff

1 is there some bullshit federal law about importation or can you get a USA spec bike here.

2nd If the museum has it and you get it as the 2nd owner it is used and can be priced as a used not new bike.

3rd It would be a hard call but I am sure Italy doesn't make 1099's so maybe it and a real MSO can just be Fed Exed to you house and done.