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Breck4x4[John]
November 12th, 2009, 03:21 PM
November 12, 2009

High-end sports car takes a swim (w/video)

This may be hard to explain to the insurance company. From the Associated Press:

A man blamed is blaming a low-flying pelican and a dropped cell phone for his veering his million-dollar sports car off a road and into a salt marsh near Galveston. The accident happened about 3 p.m. Wednesday on the frontage road of Interstate 45 northbound in La Marque, about 35 miles southeast of Houston.

The Lufkin man told of driving his luxury, French-built Bugatti Veyron when the bird distracted him, said La Marque police Lt. Greg Gilchrist. The motorist dropped his cell phone, reached to pick it up and veered off the road and into the salt marsh. The car was half-submerged in the brine about 20 feet from the road when police arrived.

Gilchrist said he doesn't know if the car was salvageable, but in his words, "Salt water isn't good for anything." He says the man, whose identity hasn't been released, was not injured.

A 2006 Bugatti Veyron was recently offered for sale in Jonesboro, Ark., for $1.25 million.

http://blogs.chron.com/newswatch/2009/11/highend_sports_car_takes_a_swi.html
http://www.youtube.com/watch?v=zcom8_ArYA8&feature=player_embedded#

Jeffro600
November 12th, 2009, 03:25 PM
WOW! What a freakin shame!

If its salt water, i doubt much is salvageable...

redcj7
November 18th, 2009, 05:23 PM
I believe this is the same Veyron that was at a restaurant that the Ford GT Forum hosted dinner at in Austin. The dealer was Shelby Smith who brought it along with his GT to the rally. He sold it to a guy in Texas right after the rally.

Here is what the owner told Shelby after the accident.

Ok, got the first hand info. Driver dropped something, looked down for just a sec and when he looked back up, the BIRD was in his peripheral vision. Having looked down just before this, it disoriented him, causing him to think he had mistakenly swaped lanes, etc and some car or something was coming towards him. He swirved out of reflex, got off the road just a little, but the soft mud made it impossible to get back on the road. It directed the car straight to the water. Speeds were 55 to 60ish as can be believed from the lack of damage to the car. If he had been traveling at a high rate of speed, the impact would have tore the car to pieces, but not matter what anyone says, because it was a car that is capable of doing 200+ MPH, there will be plenty of people saying he was going LUDACRIS SPEED! He is ok. Main thing hurt it is ego, which I could have guessed that as I would feel the same if it happened to me. At the end, he is OK. Car as I am guessing, will probably be a complete loss. SAD DAY FOR THE EXOTIC CAR WORLD! :(

Loki
November 19th, 2009, 01:42 PM
There is actual video of the crash on the web now.

There's no pelicans anywhere near the car when it goes off the road.

scottycards
November 19th, 2009, 04:43 PM
Anytime an exotic gets torn up, it is a sad day.

I mean, balling up your Veyron at 210 is one thing, twitching and dumping it into a swamp at 60 is nothing but a flat out bummer.

Somehow I get the impression that this guy will survive..........

redcj7
November 19th, 2009, 04:52 PM
There has been a lot of speculation that he did it on purpose. Originally, he was mixed up with a dealer in the Austin area that had one listed for $3 mil. The thought was, that he couldn't sell it so wrecked it on purpose.

This guy however, just bought it for $1.25 mil so unlikely he did it on purpose. Pretty limited production car with very high maintenance. Supposedly, the wheels and tires are replaced at the same time--around 20,000 miles. Close to a $40,000. service. Not sure how many will ever see 20,000 miles.

Steve
November 19th, 2009, 04:57 PM
I wonder what the salvage value is? It would make a very unique redneck 4x4. Put the body on a Blazer chassis and you're good to go. :D

Mcstiff
November 20th, 2009, 08:35 AM
There has been a lot of speculation that he did it on purpose. Originally, he was mixed up with a dealer in the Austin area that had one listed for $3 mil. The thought was, that he couldn't sell it so wrecked it on purpose.

This guy however, just bought it for $1.25 mil so unlikely he did it on purpose. Pretty limited production car with very high maintenance. Supposedly, the wheels and tires are replaced at the same time--around 20,000 miles. Close to a $40,000. service. Not sure how many will ever see 20,000 miles.

I heard that the tires were spec'd for <20k and the wheels were good for 3 changes. :shrug:


Even the tires for the Veyron are unique. They're specially designed by Michelin to handle the stress of driving at 250 mph. The tires need to be sticky like a race car's and able to handle 1.3 G's on the skidpad. However, they also need to last longer than the 70 or so miles of a typical race tire.

Michelin therefore created completely new tires to handle the Veyron's unique requirements. In the rear, the tires are 14.4 inches (36.6 cm) wide. Specifically, the tires measure 245/690 R 520 A front and 365/710 R 540 A rear, where 245 and 365 are the width in millimeters (9.5 and 14.4 inches respectively). The rims are 520 mm and 540 mm in diameter (approximately 20 inches). These tires, in other words, are massive -- the rears are the widest ever produced for a passenger car.

The tires use the Michelin PAX system. Their pressure is monitored automatically, and they can run flat for approximately 125 miles (201 km) at 50 mph (80 kph). According to Michelin, the run-flat detection system "plays an integral role in active safety in PAX System. Its role is to inform you of a loss of pressure, either gradual or sudden." Once warned of an air leak by the PAX system, you can reduce your speed and head toward a tire repair center.

One advantage of the PAX system and its run-flat ability is that it eliminates the need for a spare tire.

_CJ
November 20th, 2009, 09:07 AM
I'm sure the fraud unit will be keeping a close eye on this claim. Paid $1.25 million? ACV is $3 million?

redcj7
November 20th, 2009, 11:06 AM
I'm sure the fraud unit will be keeping a close eye on this claim. Paid $1.25 million? ACV is $3 million?

ACV is $1.25 mil or thereabouts. There is a dealer in the Austin area that had the same color combination as the one that got wrecked and he was asking close to $3mil. When the YouTube video came out, a lot of people thought it was the dealer intentionally wrecking his since he hadn't sold it.

I know the dealer, Shelby Smith, who sold the car and it was his quote I posted earlier. Sounds to me like a simple accident as the guy just bought it, and will have a hard time replacing it for the same amount.

_CJ
November 20th, 2009, 11:33 AM
ACV is $1.25 mil or thereabouts. There is a dealer in the Austin area that had the same color combination as the one that got wrecked and he was asking close to $3mil. When the YouTube video came out, a lot of people thought it was the dealer intentionally wrecking his since he hadn't sold it.

I know the dealer, Shelby Smith, who sold the car and it was his quote I posted earlier. Sounds to me like a simple accident as the guy just bought it, and will have a hard time replacing it for the same amount.

What he paid for it has nothing to do with actual cash value. Most insurance companies use a composite of similar models currently for sale as well as recent sales. Given the rarity of the vehicle, that may be a difficult number to develop, but there's one dealer at $3 million. If the rest are at $2 million plus, some people may suspect that he's looking to profit from his loss. Of course they'd have to prove it.

Now if he took out an agreed value policy for $1.25 million, it would be a bit less suspicious. Either way, I'm fairly certain this claim will be getting more attention than most. Given the state of the insurance industry right now, I wouldn't be surprised to see an outright denial of the claim.....which would most likely be settled in arbitration.

redcj7
November 20th, 2009, 06:09 PM
Here is a link to the original ad:

http://www.eliteautosllc.com/vehicles.php/mode/view/id/225

The reason he will have trouble replacing it, wasn't so much the price, it was that it was a 2006 and as I understood it, still on MSO. Not sure how many 2006's are still on MSO's.

The MSRP on a new 2009 Grand Sport, the convertible is $2.1 mil and a base coupe is $1.7. I suspect there is mark up beyond MSRP on a new one, but I doubt a brand new coupe would go for more than $2mil at the high end.

The market is pretty soft for these, which is why the guy asking $3.mil hasn't had a serious inquiry when we talked to him in Austin.

Based on the hoops I had to jump thru to get agreed value policies on 6 of my cars, I can't even imagine he could get much more than what he paid in coverage.

scottycards
November 21st, 2009, 10:22 AM
Redcj7 being all up to date on the value of Veyrons brings the LOL.

I love it.

Over/under on redcj owning a Veyron stands at 3 years..........I'm taking the under for $5. Even money.