The price of parking a car

What is the point at which owning a car isn’t worth the cost of owning a car?

See these two parking spots?

AP Photo

They sold this week for $560,000.

The IRS had seized the spots from a man who owed back taxes in Boston.

The bidding started at $42,000 but escalated between neighbors quickly, the Boston Globe reports.

  • Jack Ungerleider

    I see 4 parking spots. Were the sold in pairs?

    • Nope. Two were vacant because, presumably, people were off at work. Only two of the spaces were sold.

  • Jeff

    Let’s say you buy a car for $100,000 and that it cost $10,000 a year to own it (I have no idea if that is how much taxes, gas, etc. would be). After 10 years you’ve spent $200,000. That leaves $360,000 to pay someone $36,000 a year to be your personal valet. I don’t think this was a wise purchase buy the winner. How will they be able to sell them and not loose money?

    • Jeff

      Oops. Just realized my numbers should have been for two cars. Never mind. The person who bought them is a financial genius (which is probably why they have so much money in the first place!)