With the recent filing of civil fraud & tax evasion charges in federal court against a millionaire unlicensed car broker from Los Angeles County we thought it would be a good time to offer a car collector education workshop devoted to reminding all car collectors of the importance of a complete consignment agreement and correct & complete broker agreement.
Rick Cole of Los Angeles and his company Rick Cole Auctions along with his partner Terrence Price and his company Legendary Motorcars have an impressive resume of selling consignments & brokering for over 50 years.
Rick Cole Auctions
Auto broker in Burbank, California
Located in: Warner Bros. New York Street
Address: 3500 W Olive Ave #300, Burbank, CA 91505
Hours: Open 24 hours
It appears Rick Cole Auctions is not licensed to do business in California as an auctioneer, used car dealer or autobroker.
From The Dmv Dealer License Database 03/03/2023:
Rick Cole Auctions NO RECORD FOUND
All vehicle auctions, consignment sellers & those brokering vehicle sales agreements can only be executed by licensed dealers in the state of California.
Rick Cole is charged with falsifying documentation to Adam Levine involving a vehicle trade & cash transaction.
Rick Cole and his agents are accused of creating a false Maserati Ghibli 4.9 SS. Last 4 of the VIN ” 1241 “
Terrence Price, on the website his admitted dealer license partner may be charged with false documentation, failing to file a report of sale. failing to profer title and sales tax evasion in his and Legendary Motorcars alleged paticipation in this fraud.
Rick Cole as an unlicensed auctioneer in California & Terrence Price as his admitted partner and owner of Legendary Motorcrs of Gazelle California are facing an ongoing investigation with the CDTFA to verify that the report of sale if reported matches the amounts collected from Adam Levine.
Here is a local newspaper story about Rick Cole’s fraud & tax evasion troubles:
Per court documents we reviewed and first obtained by the Los Angeles Times Levine’s lawsuit explains that when he later tried to resell the Maserati he discovered the vehicle identification number Rick Cole had given him actually belonged to a different car owned by British car collector Clive Joy for several years. Levine and his team further found that the car Cole had sold him had reportedly had its authenticity questioned before and was pulled from an auction in 2015 over concerns about its status.
Court Records indicate that Rice Cole of Rick Cole Auctions Inc has recently been served with federal civil charges of fraud & tax evasion.
Court Records indicate Terrence Price & Legendary Motorcars of Gazelle Ca has not yet been served.
Legendary Motorcars Owner is Terrence Price.
We have asked the DMV & CDTFA for guidance in the areas of what to teach car collector clients if a luxury car consignment dealer is served in federal court on serious fraud & tax evasion charges.
If you need to file a consignment fraud or tax evasion complaint with DMV Investigations here is the DMV Complaint Portal.
If you need to file a consignment fraud or tax evasion complaint with the CDTFA investigations unit here is the CDTFA Complaint Portal.
It appears that Rick Cole & Rick Cole Auctions as unlicensed entities in the state of California have no dealer surety bond upon which one would normally make a fraudulent sale claim. The purpose of the car dealer license surety bond is to provide a $ 50,000 pot of gold to protect consumers if allegations such as these are proven to be true. The claim in this case of $ 850,000 far exceeds the amount of car dealer bond relief available.
If you need to make a claim on the dealer bond of Legendary Motorcars here is their dealer license and bond information.
USED CAR DEALER BOND INFORMATION for Terrence Price & Legendary Motorcars:
MAIN LOCATION
LEGENDARY MOTORCARS
18705 OLD HWY 99
GAZELLE CA 96034
(530) 905-0316
LICENSE INFORMATION
Dealer License No: 38130
Status: Active
First Issued Date:7/22/1999
Current Expiration Date: 7/31/2023
Owner:PRICE TERRENCE K
Used Vehicle Category: Automobile/Commercial
( No Auto Broker License on file with DMV for Legendary Motorcars )
USED CAR DEALER SURETY BOND INFORMATION:
HUDSON INSURANCE COMPANY
1035 GREENWOOD BLVD SUITE 265
LAKE MARY FL 32746
Bond#: 10075135
Effective Date: 7/30/2018
Legendary Motorcars remains an active and open used car dealer in Gazelle, California.
Remember these are civil charges between the parties and no criminal charges have been filed. All parties in this civil matter are presumed innocent even if a settlement is reached.
Only when and until convicted in criminal court by a jury of their peers can they be considered guilty of the serious charges being presented here.
Will an audit be conducted to determine all parties that might be impacted?
Will the DMV & CDTFA conduct separate and overlapping investigations?
Will all car collectors with a claim against Rick Cole & Rick Cole Auctions be made whole?
Will all car collectors with a claim against Terrence Price & Legendary Motorcars be made whole?
Is Rick Cole a silent partner in Legendary Motorcars?
Is Terrence Price a silent partner in Rick Cole Auctions?
Does Rick Cole hold a valid California Salesperson License?
Who authorized the DMV Report of Sale for Legendary Motorcars?
Did Adam Levine wet sign the required DMV Report of Sale?
Is Terrence Price the straw dealer for Rick Cole Auction transactions?
What are the ramifications to his dealer license?
Will his lucrative consignment business be allowed to operate?
Who is holding title to the million dollar inventory listed below?
Will they be allowed to ever return to the car selling business?
Will Terrence Price & Legendary Motorcars be placed on Probationary Status?
Will DMV /CDTFA compare reported sales to sales documents for the last five years?
Current inventory listed by Terrence Price Legendary Motorcars & Rick Cole Auctions. We are not aware of the ownership, title status or if correct consignment documents have been filed with Rick Cole Auctions, Rick Cole, Legendary Motorcars or Terrence Price.
A firm buyer beware is issued to anyone interested in purchasing or if you have purchased one of the below listed SOLD vehicles.
California law requires a licensed used car dealer to post the year make and model along with the VIN & current mileage. of a vehicle when offering that vehicle for sale.
It appears that Terrence Price, Rick Cole, Rick Cole Auctions & Legendary Motorcars are not folllowing this important dealer law.
The existence of title, the ownership status, the history of this vehicle along with the documentation presented to make the Adam Levine swap & sale happen is the crux of this civil lawsuit filed in California federal court.
Listing generated on 03/03/2023
* 1997 BENTLEY Turbo Rl (SOLD! THANK YOU!)
* 1963 BENTLEY S 3 (SOLD! THANK YOU!)
* 1957 BENTLEY S Type Continental Coupe (SOLD! THANK YOU!)
* 1940 BUICK CENTURY CONVERTIBLE SEDAN (SOLD! THANK YOU!)
* 1940 BUICK CENTURY CONVERTIBLE COUPE (SOLD! THANK YOU!)
* 1936 CADILLAC 3685 FOUR DOOR CONVERTIBLE SEDAN (SOLD! THANK YOU!)
* 1931 CADILLAC 355A / Dual Cowl Phaeton (SOLD! THANK YOU!)
* 1967 CHEVORLET Corvette Spt Cpe (SOLD! THANK YOU!)
* 1964 CHEVORLET IMPALA (SOLD! THANK YOU!)
* 1959 CHEVORLET IMPALA CONVERTIBLE 348 TRI POWER (SOLD! THANK YOU!)
* 1957 CHEVORLET BEL AIR
* 1954 CHEVORLET CORVETTE (SOLD! THANK YOU!)
* 1939 CHEVORLET WOODY (SOLD! THANK YOU!)
* 1937 CORD S C PHAETON (SOLD! THANK YOU!)
* 1991 FERRARI F40 (SOLD! THANK YOU!)
* 1983 FERRARI 512 BBI (SOLD! THANK YOU!)
* 1983 FERRARI 512 BBi Boxer (SOLD! THANK YOU!)
* 1981 FERRARI 512 BB (SOLD! THANK YOU!)
* 1980 FERRARI 512 BB (SOLD! THANK YOU!)
* 1979 FERRARI 512 BB “Boxer” (SOLD! THANK YOU!)
* 1974 FERRARI DINO (SOLD! THANK YOU!)
* 1973 FERRARI 365 GTS-4 Daytona Spyder (SOLD! THANK YOU!)
* 1973 FERRARI DINO 246 GTS (SOLD! THANK YOU!)
* 1973 FERRARI 365 GTB 4 Daytona Coupe (SOLD! THANK YOU!)
* 1972 FERRARI GTC4
* 1972 FERRARI 365 GTB
* 1972 FERRARI 365 GTC 4 (SOLD! THANK YOU!)
* 1972 FERRARI DINO (SOLD! THANK YOU!)
* 1971 FERRARI 365/GTS/4 Daytona Spyder (SOLD! THANK YOU!)
* 1971 FERRARI Daytona (SOLD! THANK YOU!)
* 1971 FERRARI Daytona (SOLD! THANK YOU!)
* 1969 FERRARI 365 GTC (SOLD! THANK YOU!)
* 1967 FERRARI 330 GTS (SOLD! THANK YOU!)
* 1967 FERRARI 275 GTB 4 Alloy (SOLD! THANK YOU!)
* 1967 FERRARI 365 Spyder California (SOLD! THANK YOU!)
* 1967 FERRARI 275 GTB4 (SOLD! THANK YOU!)
* 1967 FERRARI 275/GTB4 (SOLD! THANK YOU!)
* 1966 FERRARI 275 GTB (SOLD! THANK YOU!)
* 1966 FERRARI 275 GTB 6C
* 1965 FERRARI 275 GTS (SOLD! THANK YOU!)
* 2005 FORD GT (SOLD! THANK YOU!)
* 1967 FORD SHELBY GT 500 (SOLD! THANK YOU!)
* 1957 FORD FORD FAIRLANE 500 RETRACTABLE (SOLD! THANK YOU!)
* 1956 FORD T-BIRD TWO TOPS
* 1956 FORD T-BIRD SOFT TOP
* 1940 FORD DELUXE COUPE (SOLD! THANK YOU!)
* 1938 FORD DELUXE CONVERTIBLE SEDAN (SOLD! THANK YOU!)
* 1937 FORD (SOLD! THANK YOU!)
* 1936 FORD DELUXE PHAETON (SOLD! THANK YOU!)
* 1933 FORD DELUXE CABRIOLET (SOLD! THANK YOU!)
* 1933 FORD DELUXE PHAETON (SOLD! THANK YOU!)
* 1974 JAGUAR E-TYPE
* 1973 JAGUAR XJ-12
* 1967 JAGUAR E-TYPE ROADSTER
* 1964 JAGUAR E-Type (SOLD! THANK YOU!)
* 1959 JAGUAR XK 150 S ROADSTER (SOLD! THANK YOU!)
* 1954 JAGUAR XK 120 SE ROADSTER (SOLD! THANK YOU!)
* 1953 JAGUAR XK 120 SE ROADSTER
* 1967 LAMBORGHINI MIURA (SOLD! THANK YOU!)
* 1964 MASERATI SEBRING
* 1985 MERCEDES 380SL (SOLD! THANK YOU!)
* 1962 MERCEDES 300 SL ROADSTER (SOLD! THANK YOU!)
* 1960 MERCEDES 300 SL ROADSTER (SOLD! THANK YOU!)
* 1960 MERCEDES 300 SL ROADSTER (SOLD! THANK YOU!)
* 1959 MERCEDES 300 SL ROADSTER (SOLD! THANK YOU!)
* 1959 MERCEDES 300 SL ROADSTER (SOLD! THANK YOU!)
* 1958 MERCEDES 300 SL ROADSTER (SOLD! THANK YOU!)
* 1957 MERCEDES 300 SL GULLWING (SOLD! THANK YOU!)
* 1957 MERCEDES 300 SL ROADSTER (SOLD! THANK YOU!)
* 1957 MERCEDES 300 SL ROADSTER (SOLD! THANK YOU!)
* 1956 MERCEDES 300 SL GULLWING
* 1956 MERCEDES 300 SL GULLWING (SOLD! THANK YOU!)
* 1956 MERCEDES 300 SL GULLWING (SOLD! THANK YOU!)
* 1955 MERCEDES 300 SL GULLWING (SOLD! THANK YOU!)
* 1955 MERCEDES 300 SL GULLWING (SOLD! THANK YOU!)
* 1955 MERCEDES 300 SL Gullwing
* 1955 MERCEDES 300 SL GULLWING (SOLD! THANK YOU!)
* 1955 MERCEDES 300 SL GULLWIING (SOLD! THANK YOU!)
* 1955 MERCEDES 300 SL GULLWING (SOLD! THANK YOU!)
* 1954 MERCEDES 300 SL GULLWING (SOLD! THANK YOU!)
* 1954 MERCEDES 300 SL GULLWING (SOLD! THANK YOU!)
* 1970 PLYMOUTH Superbird (SOLD! THANK YOU!)
* 1989 PORSCHE Speedster (SOLD! THANK YOU!)
* 1987 PORSCHE Carrera Targa (SOLD! THANK YOU!)
* 1987 PORSCHE Turbo (SOLD! THANK YOU!)
* 1986 PORSCHE Carrera Cabriolet (SOLD! THANK YOU!)
* 1957 PORSCHE SPEEDSTER (SOLD! THANK YOU!)
* 1956 PORSCHE 356 SPEEDSTER (SOLD! THANK YOU!)
* 1994 ROLLS ROYCE Silver Spur (SOLD! THANK YOU!)
* 1991 ROLLS ROYCE SILVER SPUR II (SOLD! THANK YOU!)
* 1989 ROLLS ROYCE Spur, Sedan (SOLD! THANK YOU!)
* 1989 ROLLS ROYCE Corniche (SOLD! THANK YOU!)
* 1988 ROLLS ROYCE Jankel Limousine (SOLD! THANK YOU!)
* 1988 ROLLS ROYCE Silver Spur (SOLD! THANK YOU!)
* 1988 ROLLS ROYCE CORNICHE 2 (SOLD! THANK YOU!)
* 1985 ROLLS ROYCE Jankel Limousine (SOLD! THANK YOU!)
* 1980 ROLLS ROYCE CORNICHE (SOLD! THANK YOU!)
* 1976 ROLLS ROYCE Silver Shadow (SOLD! THANK YOU!)
* 1976 ROLLS ROYCE Corniche Convertible (SOLD! THANK YOU!)
* 1973 ROLLS ROYCE CORNICHE COUPE
* 1966 ROLLS ROYCE SILVER CLOUD III PARK WARD MULLINER DROPHEAD
* 1965 ROLLS ROYCE Cloud III Left Drive (SOLD! THANK YOU!)
* 1965 ROLLS ROYCE CLOUD III (SOLD! THANK YOU!)
* 1963 ROLLS ROYCE SILVER CLOUD III DROPHEAD
* 1963 ROLLS ROYCE SILVER CLOUD III (SOLD! THANK YOU!)
* 1962 ROLLS ROYCE Cloud II Drophead (SOLD! THANK YOU!)
* 1962 ROLLS ROYCE Phantom 5 Limo (SOLD! THANK YOU!)
* 1955 ROLLS ROYCE Silver Wraith (SOLD! THANK YOU!)
Our Workshops always examine real situtations and consignment issues for wealthly car collectors.
We take pride in being able to examine and explore what steps are necessary to assure a car collector their chosen consignment dealer is in full compliance.
We Make It Simple For You
We are Dealer Licensing Consignment Experts
Our Office Manager Azita Rezaei can handle emergencies by text. 415-730-3137
DMV Retail Consignment agreements are very specific as to content and formula.
DMV Broker Licensing agreements are very specific at to content and formula.
In our Consignment Sale / Broker Agreement workshop we discuss the various formulas allowed by DMV and we provide sample templates for each scenario.
We conduct these workshops throughout California. The fee for our workshop is: $195 – for our private car collector consignment workshop.
TriStar dealer training is an excellent alternative to most continuing education programs as we are retired law enforcement training officers licensed DMV dealers/brokers/registration agents/verification agents and always an advocate for wealthy car collectors.
The goal of each workshop is to provide comprehensive review of your proposed consignment deal in an easy to read and follow format.
We are fully licensed DMV BPA Registration Agents.
We are fully licensed DMV VIN Verification Agents.
At anytime if you have questions or need help you may call us toll free at:
800-901-5950.
REMEMBER OUR MOTTO
WE MAKE IT SIMPLE