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Auction date set for Level 5 assets
Scott Tucker's massive collection of racecars and associated support equipment will
go up for auction in May
.Proceeds from the auction are expected to be used towards covering some of the
Assembled under the Level 5 Motorsports banner, and procured through profits generated by his payday loan businesses, Tucker spent freely on his greatest passion as the Wisconsin-based team stockpiled assets that would earn numerous championships in professional and amateur racing.
With the former Level 5 items in the auction having been seized by the government, 11 cars and 350 total lots ranging from engines to spare bodywork to wheels to shock dynos will be available—all with no reserve—starting on May 11 from Auctions America.
Among the lavish offerings, a brand-new 2006 Ferrari 430 GT2 car that completed just five shakedown laps is available. The No. 555 2012 Ferrari 458, winner of the controversial 2014 IMSA TUDOR United SportsCar Championship GT Daytona race at the Rolex 24 Hours of Daytona, is by far the most historically significant car in the auction, and the sister No. 556 Ferrari is also going under the hammer.
Tucker's turbocharged, 4WD 2001 SCCA Porsche 996, which was estimated to cost nearly $800,000 to build and develop, will go to a new home, and while there are other GT cars included in the auction, the five LMP2 prototypes available certainly rate among the more unexpected vehicles to hit the market.
With estimated values as low as $10,000 and as high as $100,000, the three Honda ARX LMP2s and two Lola LMP2s, which have no reserve price, could be transformed into ultimate track day cars. The five Honda-powered prototypes, which will sell as rollers, would require the fitment of different engines or, for those interested in period-correct vehicles, new engine lease agreements to be executed with Honda Performance Development before turning a wheel.
The thousands of individual items, all purchased and used to run one of the wealthiest privateer sports car teams in recent memory, will likely sell for pennies on the dollar.
$1.2 billion fine levied against Tucker
by the Federal Trade Commission in October for deceptive business practices.Assembled under the Level 5 Motorsports banner, and procured through profits generated by his payday loan businesses, Tucker spent freely on his greatest passion as the Wisconsin-based team stockpiled assets that would earn numerous championships in professional and amateur racing.
With the former Level 5 items in the auction having been seized by the government, 11 cars and 350 total lots ranging from engines to spare bodywork to wheels to shock dynos will be available—all with no reserve—starting on May 11 from Auctions America.
Among the lavish offerings, a brand-new 2006 Ferrari 430 GT2 car that completed just five shakedown laps is available. The No. 555 2012 Ferrari 458, winner of the controversial 2014 IMSA TUDOR United SportsCar Championship GT Daytona race at the Rolex 24 Hours of Daytona, is by far the most historically significant car in the auction, and the sister No. 556 Ferrari is also going under the hammer.
Tucker's turbocharged, 4WD 2001 SCCA Porsche 996, which was estimated to cost nearly $800,000 to build and develop, will go to a new home, and while there are other GT cars included in the auction, the five LMP2 prototypes available certainly rate among the more unexpected vehicles to hit the market.
With estimated values as low as $10,000 and as high as $100,000, the three Honda ARX LMP2s and two Lola LMP2s, which have no reserve price, could be transformed into ultimate track day cars. The five Honda-powered prototypes, which will sell as rollers, would require the fitment of different engines or, for those interested in period-correct vehicles, new engine lease agreements to be executed with Honda Performance Development before turning a wheel.
The thousands of individual items, all purchased and used to run one of the wealthiest privateer sports car teams in recent memory, will likely sell for pennies on the dollar.
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