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TAC Rationale, my Personal Evaluation

To: "Tiger's Den" <tigers@autox.team.net>
Subject: TAC Rationale, my Personal Evaluation
From: Steve Laifman <SLaifman@socal.rr.com>
Date: Sat, 23 Nov 2002 11:06:51 -0800
Tiger's

There has been a lot of strong and emotional opinions voiced on the 
subject of Tiger authentication, and the STOA TAC program, as one venue 
of accomplishing this.

Here are some of the reasons, I believe, that owners, and especially 
potential owners, may want to "look inside the poke before buying the 
pig", "bite the gold coin", or "examine the horse's teeth".

The very origin of these quotations are ancient trading practices.  Many 
traded goods were not as represented.  Sure, sometimes the seller did 
not know the provenance of his offering.  Many times too often they did. 
 So the very first historical caution I can think of is "ne caveat 
emptor", a Roman saying meaning "let the buyer beware".

So, how does a buyer "beware".  Well, in the art, stamp, coin, jewels, 
books, historical artifacts, signatures (autographs) and other "antiques 
and rare commodities" businesses , a provenance verification is sought 
from a knowledgeable source to authenticate the offering.  Everybody in 
the field of buying, selling, trading, and auctioning valuable items of 
significant value seek independent professional verification beyond the 
word of the seller.  I know of no one seriously into these fields that 
does NOT know this.

What makes a collectible, limited edition, automobile that has a value 
in excess of it's normal depreciation less needful of the same care 
before the buyer parts with his gold - which is SURE to be bitten, 
certified, and authenticated? Where there is money, there are 
practitioners of deceit, or victims passing the fraud on.

I think that makes the case for why the buyer should be cautious. 
 Everybody knows frauds are out there, as well as potentially innocent 
sellers of counterfeits who are not knowledgeable of the provenance of 
their beloved treasure.

Who, after all, would want to buy a postage stamp that was defective 
because the airplane is upside down, or a poorly made coin with a messy 
double striking. Obvious defects. :-)

OK, that is the case for the buyer. It is simple in concept. 
 Unfortunately, it is difficult to call a knowledgeable professional 
appraiser to determine provenance (history of ownership from creation to 
present, establish condition, and current market value.

Even the seller, going for the highest market value for his offering, 
would want to be able to support his asking price - in ANY other 
offering. The rare automobile is routinely documented, even the phony 
ones. Rare Corvette owners/buyers are an especially cautious lot, as are 
Shelby product buyers.

What makes the Sunbeam Tiger any different?  Is the Tiger any less rare, 
or less desirable than like vehicles of the period, or less likely to be 
counterfeited because the investment in making a counterfeit is more 
than the enhanced value?  I think not.

Is there valid reason for damage repair, even as in other old art?  Does 
the fact that there was previous damage, and the quality of any repair 
influence the market value? Does the source of the repair materials, and 
the care of the repair/restoration influence the sale value when 
compared with another repaired Tiger? I believe the answers, when the 
facts are not hidden, are obvious, as they are with ANY item that is not 
a commodity.  In fact, even commodities, such as fruits, grain, coffee, 
meat is graded on many criteria that influence it's market value, or 
stop squeezing the fruit!

Now, on to OUR reality. There are damn few experts able to do the kind 
of authentication one would want in a major investment.  My autographed 
Babe Ruth baseball is very valuable, and much more so with provenance 
and authentication by accepted authority.  There are bad authenticators 
in the "autograph" business, just as less than reliable mechanics and 
assessors in just buying a used car.

So, what does both the Tiger seller and buyer need for obtaining top 
dollar, and getting what one pays for?

Why they BOTH need a knowledgeable source of reliable experts to help 
settle, as far as reasonably possible, the authenticity of the article. 
 If one WANTS a very good reproduction, that's fine. You settle on a 
price that kind of article deserves, and it is NOT worthless. Just not 
the value of a true original, by a long shot.

Evaluating mechanical condition is not the purview of the TAC program, 
so experts on mechanical items, and body repairs are still needed, and 
available.  The manufacturing history (provenance) of the authenticity, 
thanks to the unpaid, team organized, and trained volunteers of the TAC 
program provide a unique resource available to any willing buyer and 
seller to both their advantages.  Yes, this is a rare resource, and not 
available at your corner garage (which you should see as well).  But so 
is the expert on the Kohinoor Diamond, as opposed to a standard 
geologists capabilities.

Sorry, this is so long, but there are just too many misinformed 
statements, ego involved responses, and general lack of understanding 
for the rationale of the Authentication Process.  The attempt here is to 
compare the process with that common to any valuable collectible, and to 
assure anyone unfamiliar with the process and people involved, of their 
honesty and total dedication that you could not wish for a better group 
of trained volunteers. Not even the largest Auctioneers really 
understand what they are peddling for others, and are not to be relied 
upon. And they will tell you that, themselves.

Here's to the dedicated volunteers across the country that give their 
time and efforts for the love of the marque, and to STOA for starting 
the process, gathering the knowledge base, training the inspectors, and 
nationalizing the effort as fast as an unpaid volunteer organization 
can. They deserve your respect, admiration, support, and utilization - 
if you possibly can.

My $.02, and the rationale to support my personal conclusions without 
bias, external influence, or financial commitment beyond paying my dues 
to support this effort, and using their offered services.  Bless them 
all, and "Up the Marque, Long Live the Sunbeam Tiger"


"Bless them All, Good Men and True"

Steve


Steve Laifman
Editor
http://www.TigersUnited.com

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