Overview

51GT3 provides a secure Escrow Service for overseas customers purchasing race cars from the Asian market, ensuring a risk-free and seamless transaction process.

Benefits

• Peace of Mind: Funds are securely held until the transaction is successfully completed.
• Risk Mitigation: Protects buyers from potential fraud or misrepresentation.
• Streamlined Process: Simplifies international purchases with clear terms and secure payments.
• Cost-Effective Services: Free inspection (via HD photos/videos), packaging, and loading.
• Combined Shipping: Offers free sourcing assistance to help buyers find additional desired race cars for combined shipping, reducing overseas shipping costs.

Service Fee

• Fee Structure: 6% of the total transaction value.
• Transparency: No hidden costs, with the fee calculated based on the final purchase amount.

Detailed Transaction Steps

Step 1: Price Agreement, Contract, and Deposit

• Buyer:
  1. Agree on the target race car's price.
  2. Sign a contract with 51GT3 detailing the car's condition and spare parts.
  3. Pay a 20% deposit to 51GT3 via wire transfer/ACH (PayPal and credit cards are not accepted due to procedural complexity).
• 51GT3:
  1. Prepare the contract, clearly outlining the car’s condition and spare parts list.
  2. Receive the 20% deposit from the buyer. Note: All transaction funds are controlled by 51GT3 (not the car owner) to ensure full refund capability if issues arise, such as discrepancies between the car and the owner’s claims.
• Seller:
  1. Agree on the target race car's price.
  2. Sign a contract with 51GT3 detailing the car's condition and spare parts.

Step 2: Vehicle Transportation to 51GT3 Workshop and Inspection

• 51GT3:
  1. After receiving the deposit, assign an operations specialist to contact the seller and arrange for the car to be transported to 51GT3’s workshop.
  2. Conduct a thorough inspection, taking high-definition (HD) photos and videos of the car, then send these materials to the buyer for review. 51GT3’s core principle is to minimize buyer risk: Buyers do not need to blindly trust the seller’s claims or 51GT3 itself—only the evidence seen in the inspection HD photos and videos.
• Seller:
  Transport the car to 51GT3’s workshop upon notification. If discrepancies are found during inspection, bear the cost of returning the car.
• Buyer:
  Review the HD inspection photos and videos to verify if the car’s condition and spare parts match the contract.

Step 3: Resolution of Inspection Results

• If no discrepancies: Proceed to the next steps.
• If discrepancies are found:
  • 51GT3: Refund the buyer’s deposit and arrange for the car to be returned to the seller; the deal is cancelled.
  • Seller: Bear the shipping cost for returning the car.
  • Buyer: Receive a full refund of the deposit.

Step 4: Arrange Shipping

• 51GT3:
  Coordinate with strategic logistics partners (SinoTrans & JAS Global Motorsport Logistic) for global shipping. Alternatively, assist if the buyer chooses to use their own logistics provider (EXW terms).
• Buyer:
  Optionally use 51GT3’s recommended logistics partners or designate their own logistics vendor.
• Seller:
  No action required.

Step 5: Packaging and Loading

• 51GT3:
  Provide free packaging and loading services. Take HD photos of the packaging and container loading for EPA reporting and insurance purposes.
• Buyer/Seller:
  No action required.

Step 6: Pay Remaining Balance

• Buyer:
  Pay the remaining full amount(with 6% service fee) to 51GT3 before the car is shipped.
• 51GT3:
  Receive the remaining payment from the buyer.

Step 7: Shipment and Payment to Seller

• 51GT3:
  Arrange for the car to be shipped after confirming receipt of the full payment. Then, release the payment to the seller.
• Seller:
  Receive payment from 51GT3 after the car is shipped.
• Buyer:
  Await delivery of the car.

Reference Check Welcomed

1. Major Global Race Car Traders and Platforms: In 2022 alone, 51GT3 completed over 60 transactions with renowned names in the Porsche race car trading industry, including Isringhausen Motorsport and RaceCarforyou (U.S.) and Damien Faulkner (UK).
2. Long term Logistics Partners: JAS Motorsport Logistics (a leading name in motorsport logistics) or Sinotrans(the F1 official logistic provider for China Grand Prix) has assisted in shipping over 50 cars for 51GT3 in the past 10 months. Buyers are welcome to verify 51GT3’s reputation with these partners.