Exporting luxury cars is lucrative, legally questionable

August 6, 2014 – In The News
Market Watch
Ely Goldin was quoted in Market Watch’s article, "Exporting luxury cars is lucrative, legally questionable." Full text can be found in the August 6, 2014, issue of Market Watch, but a synopsis is below.

Beginning last year, American authorities have started working to stop increased traffic of high-end cars smuggled overseas. However, these authorities have struggled because exporters of these high-end cars are not partaking in illegal activity, despite that the government and the auto makers are discontent.

Consequently, most auto makers ban deals with exporters and recently have charged those who violate these bans more than $30 million.

Ely Goldin, who represents several exporters whose properties have been apprehended, says, “What they’re complaining about is competition.” Why should somebody who goes into a dealership and pays top dollar for a car be legally prohibited from selling the car to whoever they want to sell it to?”