I bought the cheapest (& worst) Lamborghini Diablo on Earth!

it ended up being sold to an ex-cop who was also a professional wrestler late last year in december of 2020 i was looking for another car to fill a garage spot that happened to be vacant and kind of an end-of-year car purchase to be a tax write-off and so i was talking to different people and one of those was john tamarion of curated down in miami now of course john typically deals in the highest end perfect examples low mile stuff ultra collector grade examples of vintage supercars mostly lamborghinis and things like that but occasionally he comes across kind of some ed bullion examples he was the source of the flood gallardo for the first car trek and so i said hey do you have anything that might fit what you know i would be looking for he's obviously familiar with my taste in cars and he says you know what i do have the world's cheapest lamborghini diablo and he said it was something he'd been trying to buy for the last several months but in fact he had taken on a different project it was a 1995 diablo vt that he was kind of going through putting on some oem svr parts making it kind of an svr road going tribute car super cool project i think he's about done with but regardless he said he didn't mind handing this one off to me he'd had this guy kind of digging into the history of the car and trying to put the deal together and he told me that he had agreed to a deal a couple of months prior that they still hadn't been able to consummate of about 92 000 for a 1997 diablo vt roadster now of course that's a screaming deal i mean way too cheap to be a great car but probably exactly the kind of thing that i would be looking for something that has some weird history some bad conditions some needs things like that i said that sounds perfect what is the story he said well just talk to this guy he'll help you out he's been kind of putting the pieces together for me and who knows maybe you can even get it a little bit cheaper i get in touch with this guy and he has kind of put together a timeline of where this car has been and it has probably the most amazing backstory of any crazy lamborghini or exotic or any car really that i've ever tried to buy it so as soon as i heard it i was like i've got to own this thing so apparently it was sold new early in 98 as a leftover 1997 red 97 diablo roadster but a few months later late in 98 it was stolen and i guess the thieves repainted it to silver redid the interior in dark brown alcantara did all this after market but very like 90s period correct carbon fiber kinesis wheels rear wheel drive converted all the things and they then used a vin so that they could get away with having this stolen car from an engine fire car out of hawaii so a car in hawaii had burned down they used the vent from that car and they put it on this repainted and redone diablo roadster the car then floats around for about 15 years using the wrong vents obviously a rebuilt title at that point sells to different leasing companies different people it actually ends up in south florida and john tamarion had spent a lot of time actually trying to buy the car i think around 2009-2010 and it was always kind of a cheap example but it looked really really cool it had the carbon fiber wing some carbon fiber veins on the intakes all the carbon on the interior was just a really really nicely done car and at that time it was in quite good condition not with that many miles and so at the time that i was talking about this car it only had about 8 000 original miles and so that was very low but obviously kind of the history had caught up with it at that point so apparently what happened was around 2013 the car was sold very publicly i think advertised on auto trader one of the sites that auto tempest allows you to search but it ended up being sold to an ex-cop who was also a professional wrestler up in the northeast and so he bought the car and apparently he had kind of put away some dirty cops who knew that this guy had just bought a lamborghini they got very suspicious and they actually told the fbi to investigate this guy and so they start looking into him and they figure out that this car that was a very cheap example of a lamborghini diablo at the time but still kind of at a time when diablos weren't all that appreciated a time when a really nice 97 roadster might have been worth 120 130 000 and so i don't know what he bought it for at that point but it certainly would have been a good bit less but regardless with a rebuilt title at that point people started to investigate the history of this car and the fbi put the pieces together and figured out that it was this originally red car that had been stolen 15 years earlier and so they end up seizing the car and starting to figure out well what insurance companies should rightfully own the car how can this be figured out and at that point the insurance company that would have totaled it years earlier in california had i guess lost or misplaced or did not fully have their ownership documentation that you would normally get as an insurance company when you file a car as being stolen and so a lawsuit or some kind of arbitration begins to happen between this professional wrestler ex-cop the fbi the insurance company that originally had the car and nobody really knows whose it is and the car goes into the possession of a dealer who is kind of like supervising it appraises it for the sake of this lawsuit so that everybody can kind of understand how things are set now it appears that the insurance company doesn't fully prove that it's theirs and it's also unclear at that point if they even care that they get the car back when insurance companies total it many times they're reinsured they're never expecting to get much more than pennies on the dollar back for stolen merchandise even though it's a lamborghini at the time not wildly collectible and so the insurance company doesn't end up owning the car in fact some agreement gets worked out where the vents that had been inappropriately put on a car have to be stripped but the professional wrestler gets to keep it and so he gets to own the car in that circumstance but honestly he doesn't drive it all that much he ends up consigning it for sale with the dealership that had been kind of custodial over the car through the proceeding of the lawsuit and so that dealer ends up storing it listing it for sale but it doesn't really sell again a car like that with a storied passed was never gonna be a wildly interesting ownership proposition until honestly the last few years when all v12 lamborghinis especially manual transmission ones which all diablos are manual have gone up a lot in value so this dealer tries to sell the car doesn't have any luck but he has a deal worked out with the professional wrestler where if the car does not sell he gets to purchase the car at some low amount of money the car doesn't sell he ends up owning the car for that and he drives it very occasionally kind of as a personal car on his dealer plate and around the time that he had started the discussion with john tamarion from curated he had decided that he was going to close down his dealership kind of retire and so he didn't really have a good way to continue to enjoy cars like this he was looking to sell all of his remaining inventory so at the time that i'm looking at the car the car is an all-over repaint a redone interior a lot of which needs to be re-redone the carbon fiber needs to be cleaned up re-cleared re-epoxied in some areas it was just going to need some repairs it was very due for many many different services but it ran like you know no major error lights on it sounded good it drove and things like that and it was pretty complete so it was an exciting car to own and it was going to be very very cheap and so i ended up offering 78 000 for this car and of course the dealer didn't have a whole lot of options in shopping the car around and so him being a shrewd negotiator we decided to meet right smack dab in the middle at 78 grand and so right around the end of last year i wired him 78 thousand dollars that happened to be the exact same day when tyler hoover finalized his deal to buy the 25th anniversary countach and a silver 97 diablo roadster so even though at that point i'd been working on the deal for many many weeks we bought pretty much the same cars on the same day now he said his was the cheapest in the world he knew that wasn't true because he knew that i was already buying mine but regardless i'm happy for him his is much nicer than mine so i get the car down here and it drives around it's a ready to go car it needs a few things that i start to order and i start to learn that at this point anything you need for a lamborghini diablo even a mercy any early v12 car from lamborghini has gotten very very hard to get and so i was going to be waiting for a little while and we started to talk about different things and i was like you know what i'm just going to park this thing in the garage it'll get fixed when it gets fixed it's a fun project to have around i also noticed that i really didn't fit very well in it it had been a while since i had driven a diablo roadster and i learned all right you know i'm gonna have to find a new slouch to be able to fit in this thing but it's hard to get much cooler than a diablo i mean i love everything about a mercy and i love the slightly more modern usability but diablos are awesome and so we start doing other things with card track we start planning car trek four which involves me needing to buy a cheap ferrari and quite honestly i wasn't all that excited about buying a really terrible 355 or a terrible 360 or a 348 or any of the normal kind of camry price ferraris which was the theme of the series and at about that same time i had closed a sponsorship with patrick adair last year in 2020 i did a project with him where he took an old broken wheel from one of my mercies and made a series of rings out of it he's got an amazing huge channel about making these custom rings out of exotic materials and things like that so he made a run of carbon fiber and aluminum rings based on these wheels that he numbered and sold all of them immediately and so he is a sponsor of the venwiki channel this year and he'll be coming on to tell some stories and so he called me one day he's like ed i want a project car but i don't really know what to buy at the time he had just bought strad men's ford gt he was working a deal to buy post malone 720s and so he's done very very well for himself and he wants to do more in the automotive space but he's like is there a car that you could kind of point me to that could be my next project i really just said hey look if you want to give me kind of a hoovey style deal where you pay me the inevitable eventual profit now but then you get a very low cost basis in the car still plenty of room to spend money eventually make money i would be open to that because i needed to create the profit in that car to show it as a trade in order to write down the ferrari 599 that i was buying for car trek 4. and so it seemed like the 599 was a more immediately usable car certainly something that i needed for the production and something that i thought you know quite honestly i'm probably going to enjoy more miles out of it patrick could not have been any more excited to buy the car he and i had been talking about different rings and different projects that we might do as collaborations throughout the year and he'll be a sponsor of the vinwicki channel this year and so it was a perfect deal so i made 40 grand as i talked about in the opening of car trek four and he got a great deal he'll be able to spend as much as he possibly want to in order to improve the car make it exactly what he wants and if he ever does decide to flip it he'll still have plenty of equity of course the market for v12 lamborghinis has continued to climb more than any of us can believe but they're awesome cars there's nothing like them in terms of presence and so i'm sure at some point i will own another diablo but i certainly bought the cheapest one on the planet at that day and i haven't seen any cheaper since then and i don't know there ever will be to be quite honest i think even a total rebuild project that would that needed accident repairs or anything probably still brings that kind of money so that was my adventure with the world's cheapest diablo and you'll be able to continue following along everything patrick decides to do with it he's talking through color schemes he immediately pulled the engine to do a clutch and some other major servicing so you can follow along on his channel to see where that goes and he'll be along soon to tell us even more about it shopping for insurance can be an absolute nightmare but it doesn't have to be thanks to policy genius they're our sponsor for this month at vinwicki and you can visit them at the link in the description below you tell them a little bit about yourself a little bit about your property and they find the best deal by shopping amongst all the major carriers at the same time in fact you can bundle things like homeowners insurance and auto insurance and the average user that bundles both of those things saves about eleven hundred dollars a year so be sure to check them out and thank them for their support of venwiki

Channel: VINwiki

Views: 389,928

Rating: 4.9377098 out of 5

Keywords: Ed Bolian, VINwiki, Car Stories, cheap exotics, cheap supercars, lamborghini, diablo, vt, roadster, silver, tyler hoover, hoovies garage, youtuber, investment, exotic cars, profit, flip, arbitrage, advice, how to, strategy, income, stock market, car flipper, cheap lambo, bargain, negotiation, fbi, securities

Id: WHwJhenGTk4

Length: 11min 38sec (698 seconds)

Published: Tue Jun 08 2021