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I hear what you're saying. To some degree I agree with your thoughts!
I think it depends on what market the potential U.S. buyer is in.
I am in CA and have worked on gray market cars titled here. Documentation, Smog equipment, and age of vehicle can be big challenges...
My feeling is the biggest concerns with gray market cars in the U.S. are,
1) How is the car currently titled?
2) Will it meet the smog/State inspection requirements for my state
3) How well was the car converted (federalized) when imported?
4) Being a European car are there any rust issues?
Just my off the cuff thoughts.
Cooper
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