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Burt Reynolds’ former 1978 ‘Smokey’ Pontiac Trans Am in big auction by feds

A 1978 Pontiac Trans Am once owned by Burt Reynolds as a memento of the car he drove in the film “Smokey and the Bandit” will be among nearly 150 muscle cars and luxury vehicles seized from the alleged perpetrators of an $800 million investment scheme that will hit the auction block this weekend in California. ItÂ’s said to be the largest single-owner car collection ever auctioned by the U.S. Marshals, seized late last year from Jeff and Paulette Carpoff, the founders of the now-defunct mobile solar generators company DC Solar. Two employees of the San Francisco Bay Area solar energy company, certified public accountant Ronald Roach, 53, and general contractor Joseph Bayliss, 44, both of the Bay Area. pleaded guilty Tuesday to participating in what federal prosecutors say was a massive scheme that defrauded investors of $1 billion. Both men agreed to cooperate in the ongoing investigation. While the Carpoffs, the company's owners, have not been charged, they agreed to let the government auction their collection of 150 classic, performance and luxury vehicles, including the 1978 Pontiac Trans Am once owned by Burt Reynolds. The replica of the car the late actor drove in "Smokey and the Bandit" and the other vehicles are to be auctioned Saturday, with online bidding already pushing the accumulated value past $5.5 million. Bidding on that Trans Am alone had topped $65,000 by late Tuesday. The auction company said it had been driven less than 3,400 miles. It's the largest single-owner car collection ever auctioned by the U.S. Marshals Service. Chief Deputy U.S. Marshal Lasha Boyden of the Sacramento office called it "a stunning collection of vehicles" that also includes 1990s Humvees, 1960s-era Ford Mustangs, Chevrolet Camaros from several decades, plus older cars including a 1939 Buick Roadmaster, a 1951 Chevy Thriftmaster 3100 pickup truck and a 1941 Plymouth Special Delux with wooden doors and trim. “It is rare for the U.S. Marshals to hold an auction of such a stunning collection of vehicles,” Chief Deputy U.S. Marshal Lasha Boyden in Sacramento said in a statement. ReynoldsÂ’ former Trans Am is a hardtop memento of the version he drove in the 1977 action comedy. It bears Bandit Run logos in the rear window and upper windshield and appears to have modified suspension components and bucket seats. It comes with a Florida registration with ReynoldsÂ’ name on it, and an autograph on the glove box that reads, “Be Safe!

'We're not a hedge fund': Porsche plans to curtail speculators and flippers

A sizable number of speculators view cars as an investment. Rare or unusual models are quickly snapped up and either parked for years or flipped for a profit. Cars from automakers like Porsche and Ferrari are more prone than others, and at least some people behind these models are getting a bit tired of it. While it's difficult to police what goes on after you sell a car, Porsche has some plans that might curtail the problem before it starts. Andreas Preuninger, the head of GT road-car development and the man behind the new 911 GT3, spoke to Car and Driver at a recent event. "I personally like to see my cars being used," he said. "That's what we build them for. They are just too good to be left to stand and collect dust." One recent example of this rampant speculation is the 911 R. While the special manual-only model sold for $185,950 when new, used versions were selling for nearly $1.3 million just months after it went on sale. While the car is a masterpiece and an instant classic, a good number will be parked and simply used as art and not the rolling testaments to the man/machine interface they were intended to be. The concern over valuations has become so fierce that some owners are upset that Porsche is offering the new 911 GT3 with a manual transmission, fearing that it may hurt the value of the 911 R. "When I said we're not a hedge fund, I'm talking to those people who are yelling at us for offering the manual transmission similar to the R," Preuninger said. "But if there are people wanting to buy cars like that, then as a company we should try to fulfill that, to meet that demand." It seems Porsche is keeping a close eye on who is flipping cars. Since there is often far more demand than supply with certain models, the German automaker has a name for every car before it's built. Buyers with bad reputations might not even make the wait list. Related Video:

Junkyard Gem: 1986 Pontiac Fiero GT

If you like affordable, mid-engined two-seaters, the 1980s were your decade. Fiat (and, a bit later, Bertone) offered the X1/9, Toyota sold MR2s, and even General Motors got into the act by creating the Fiero. Available from the 1984 through 1988 model years, the Pontiac Fiero showed plenty of promise but ended up being mostly disappointing, in some ways echoing the career of the Chevy Corvair of a couple of decades earlier. Today's Junkyard Gem is a once-spiffy 1986 Fiero GT, found in a self-service yard near Denver, Colorado. After a long and painful development period stretching all the way back to John DeLorean's XP-833 Banshee (which ended up being a major influence behind the original Opel GT), the Fiero finally debuted in 1983 as a 1984 model. The top-of-the-model-range GT appeared the following year. The Fiero was built as a notchback coupe and as a fastback, with all the GTs being the latter type. I couldn't get the engine lid open, but this car would have left the assembly line (in Pontiac, Michigan) with a 2.8-liter V6 rated at 140 horsepower. This car has a five-speed manual transmission, making it a credible rival for Toyota's MR2.  The 1986 MR2 was less powerful than the Fiero GT (112 horsepower versus 140), but also scaled in significantly lighter (2,459 pounds against the Pontiac's 2,780 pounds). The MR2 also cost less, priced at $11,298 while the Fiero GT cost $12,875 (that's about $30,540 and $34,805, respectively, in inflation-adjusted 2022 dollars). Meanwhile, the $6,998 Honda Civic CRX two-seater lured away many potential Fiero buyers despite being a front-engined/front-wheel-drive car, and the $7,186 Ford EXP/Mercury LN7 also put a dent in Fiero sales. I can't find a price for the 1986 Bertone X1/9, but it cost a hard-to-believe $13,990 in 1984. GM still was using five-digit odometers in many vehicles by the middle 1980s, but this Fiero has a six-digit unit and thus we can see that it nearly achieved 150,000 miles during its driving career. The 1984-1987 Fiero suffered from a parts-bin suspension design, with the front suspension borrowed from the Chevrolet Chevette and the entire rear transaxle/suspension assembly lifted from the front end of the Chevrolet Citation. For the 1988 model year, GM finally spent the money to design an improved Fiero-specific suspension … and then promptly put a halt to production.