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Speaker 1: Bloomberg Audio Studios, Podcasts, radio News.

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Speaker 2: I'm Matt Miller and I'm Hannah Elliott and this is

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Speaker 2: Hot Pursuit.

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Speaker 3: First of all, I need to correct something from last week.

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Speaker 1: Go for it.

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Speaker 3: My man Dennis sent us an email about his forever

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Speaker 3: car the poor show that he didn't even drive until

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Speaker 3: he bought it, and now he's like so in love

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Speaker 3: with thee I think to nine nine seven point two

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Speaker 3: C four us and I called him Dan in the

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Speaker 3: last show.

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Speaker 1: Oh sorry, sorry Dennis.

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Speaker 4: Yes, exactly.

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Speaker 3: And it just reminds me that we love to get

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Speaker 3: emails from listeners, and they really do spur ideas for segments.

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Speaker 3: So like, if you have an idea, or if you

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Speaker 3: have a hot take, or if you have you know.

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Speaker 1: A guest I might want to.

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Speaker 3: Guess exactly, please email us at.

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Speaker 2: Hot Pursuit at Bloomberg dot net. Yes, and we personally

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Speaker 2: see and read each email.

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Speaker 3: Yeah, and I love them. I you know, get thousands

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Speaker 3: of emails every day. They're mostly from people at work.

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Speaker 3: They're mostly from flax who are like pitching stuff that

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Speaker 3: I'm never going to do. But when I see one

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Speaker 3: from a listener, I'm like, oh, yes, and I read

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Speaker 3: it and I'm excited and I drop whatever I'm doing

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Speaker 3: usually and right back or so, Yeah, email us at

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Speaker 3: hot Pursuit at Bloomberg dot net, and we're highly likely to.

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Speaker 4: Action your suggestion.

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Speaker 1: Yes we are.

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Speaker 3: Otherwise, you went to a show that I guess had

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Speaker 3: much cooler cars.

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Speaker 2: Well, yeah, I went to This is the third annual

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Speaker 2: win concor in Las Vegas, and I just found it

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Speaker 2: so interesting because this is a new concre. You know,

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Speaker 2: most of the concours that we go to, like Amelia

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Speaker 2: Island or Pebble Beach or Villadeste or any of the

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Speaker 2: these big major concourse have been around for decades, and

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Speaker 2: this is one that it's it's in its third year

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Speaker 2: and it's really a group of people who don't necessarily

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Speaker 2: have a ton of deeply embedded car background running car events. However,

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Speaker 2: it's the Wynn Hotel, and if there's one thing they

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Speaker 2: do perfectly, it's hospitality. And hospitality and service and culture

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Speaker 2: are often the elements that are missing at car shows.

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Speaker 2: So it's really interesting to see this new sort of

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Speaker 2: baby car show grow. And I had a lot of fun.

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Speaker 2: I saw Dita Vontis there. Actually she's secretly not actually

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Speaker 2: secretly but little known. She's a car person, so that

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Speaker 2: was cool. And yeah, I did some driving with Rolls Royce.

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Speaker 2: We can talk about later while I was there too,

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Speaker 2: But the concour was interesting.

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Speaker 3: I just tried to click on DTA dot net and

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Speaker 3: I oh, probably blocked but waits. So she's got famous

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Speaker 3: initially for being a burlesque dancer, if I'm not mistaken.

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Speaker 3: Yes she did marry Marilyn Manson. Yes she did, and

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Speaker 3: they're no longer married.

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Speaker 1: That's correct. She's from Detroit, you know.

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Speaker 2: Back in the day when I was still at Forbes,

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Speaker 2: I went to her house and did a series of

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Speaker 2: videos with her driving some of her old American cars,

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Speaker 2: and I remember she was in full like full on

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Speaker 2: Didavonte gear, including like five inch heels, and drove me

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Speaker 2: up to the top of Griffith Observatory and I'll have

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Speaker 2: to send you the video, Matt. It's really my hair

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Speaker 2: is quite a bit different, different shade than But she

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Speaker 2: was so cool and so down to earth and actually

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Speaker 2: really knows her stuff, and talked about how she just

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Speaker 2: couldn't stand if a guy came to pick her up

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Speaker 2: on a date in a new car.

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Speaker 1: She just thought that was the worst thing ever.

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Speaker 3: Why don't we have her on the podcast.

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Speaker 2: I've asked, I need to ask again we should. She'd

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Speaker 2: be really interesting that she's into it.

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Speaker 1: I'm going to reach out again.

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Speaker 3: That is quite cool that she's super into car.

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Speaker 4: I kind of call us.

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Speaker 3: I knew that she was super into cars because of

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Speaker 3: her Detroit like background.

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Speaker 1: Yeah, so really interesting.

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Speaker 3: And I mean I would love to go to Vegas

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Speaker 3: and see that car show.

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Speaker 2: Yeah, you know, Vegas is maybe kind of becoming a

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Speaker 2: car hub because between Formula One and this car Concord

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Speaker 2: and Sema, which I guess you would love, y, It's

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Speaker 2: like there are some real car things happening there. We've

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Speaker 2: got the La Auto Show also happening in November, so

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Speaker 2: which is, you know, a four hour drive from from Vegas.

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Speaker 1: There's just there's a lot going on this month car wise.

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Speaker 3: I went to h Lamborghini Driving School in Las Vegas,

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Speaker 3: which was phenomenal, which track I can't remember. This was

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Speaker 3: in twenty sixteen. I'm gonna say, and uh, but Seema

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Speaker 3: I've never been to and for me like that would

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Speaker 3: be you know, because I love America. I love American muscle,

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Speaker 3: I love the aftermarket, I love customization and obviously Seema

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Speaker 3: is the I.

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Speaker 1: Would love you Matt the show.

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Speaker 4: Yeah.

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Speaker 2: I went once and that was enough for me. I realized, oh,

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Speaker 2: this isn't really, these aren't.

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Speaker 1: This isn't it's not the collector.

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Speaker 4: I don't need to be here.

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Speaker 1: I don't need to be here. But it was fun

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Speaker 1: while I was there. I just I was like, all right,

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Speaker 1: I'm good, I got it.

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Speaker 3: I speaking of the collector set, we have an accomplished

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Speaker 3: car collector and motorcycle also a collector and restorer, so

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Speaker 3: Philip Richter. I met him because he does a car

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Speaker 3: show local to me in Bedford that's called the Turtle Invitational.

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Speaker 3: They do it every couple of years, and he invited

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Speaker 3: me up. I went with my daughter with Edna, and

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Speaker 3: she loved it. But what she really loved is next

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Speaker 3: door to the sort of farm where he does the

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Speaker 3: car show is where they keep all the horses. So

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Speaker 3: I brought her in there and she instantly fell in

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Speaker 3: love with these horses. And Philip was like, dude, that'll

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Speaker 3: break the bank. Like stay away from horses and lean.

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Speaker 2: On car collect I was gonna say, whenever I get

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Speaker 2: around people who do horses and cars, or used to

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Speaker 2: do horses, and now they do cars. I always ask

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Speaker 2: which is more expensive, and they always say the horses

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Speaker 2: by far.

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Speaker 3: Yeah exactly. I can't, like my mind, can't do those gymnastics,

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Speaker 3: but because cars are so expensive to begin with. But

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Speaker 3: I believe him. So let's get to right now, Philip

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Speaker 3: Richter from the Turtle Invitational and he's also on the

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Speaker 3: board of the REVS Institute in Naples, Florida. Let's start

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Speaker 3: by just going through the things that you do. You

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Speaker 3: have such a long resume. I think of the Turtle

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Speaker 3: Invitational just because I've been to it, and then I

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Speaker 3: think it's Malcolm.

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Speaker 1: Pray tell us what Turtle Invitational.

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Speaker 4: Is, right, So yeah, start with that because so, Hannah,

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Speaker 4: this goes way back. So I grew up in Greenwich, Connecticut.

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Speaker 4: My best friend when I was six years old was

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Speaker 4: this kid named Malcolm Prey, and Malcolm's dad, Ad was

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Speaker 4: literally the first independent Volkswagen Porsche Outy dealer in the country. Okay,

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Speaker 4: so back in the fifties when they used to sell

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Speaker 4: a Lancia right next to a Volkswagen, right next to

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Speaker 4: a three hundred sl Gulling. All these cars were sold

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Speaker 4: in one foreign car dealership, right the imports, all the imports.

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Speaker 1: And Max Schafsfoffman.

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Speaker 4: Yeah. Max Hoffman was importing all these cars BMW five

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Speaker 4: or seven, Yeah, And he and Malcolm were very close.

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Speaker 4: And so Malcolm was working at this this car dealership

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Speaker 4: on the post Ford and Grawich called Morley Motors. And

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Speaker 4: Malcolm figured out that the only time people have time

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Speaker 4: to go shop for cars is Sunday. But of course

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Speaker 4: all these dealerships are closed on Sunday, so he would

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Speaker 4: work Sundays and sell like six or seven cars. So

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Speaker 4: he excelled right away and outpaced his peers. So he

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Speaker 4: ultimately a guy named Harry Blanchard bought the dealership. Harry

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Speaker 4: died in a Porsche accident in Argentina racing a three

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Speaker 4: fifty six, and Malcolm inherited the entire franchise. This all

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Speaker 4: happened just as Vogelkswagen and Porsche were debating about having

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Speaker 4: standalone dealerships. And so, as Malcolm always told me, he said,

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Speaker 4: I convinced the banks that I had the franchise, and

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Speaker 4: I convinced the franchise I had the banks, and it

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Speaker 4: all came together and he became Prey Porscha Outy Volkswagen

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Speaker 4: on the post rode in Greenwich, and he rode the

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Speaker 4: wave of the Beadle rode the wave of the nine

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Speaker 4: to eleven, made a fortune and had a huge customer base,

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Speaker 4: and sold it all in nineteen ninety nine for a

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Speaker 4: lot of money. Anyway, so I was friends with Malcolm's

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Speaker 4: son growing up. Tragically, Malcolm's son died in nineteen eighty

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Speaker 4: six in a Golf GTI in a car accident in

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Speaker 4: Greenwich killed him and his friend. And that's when I

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Speaker 4: became even closer to mister Prey, Malcolm's father, and we

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Speaker 4: went to car shows all around the country together. He

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Speaker 4: had an amazing collection of Della Hayes and Dusenberg's and

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Speaker 4: Bugattis and even some you know, simple cars mgs lot.

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Speaker 4: I mean a lot of a very eclectic collection, but

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Speaker 4: cool fun stuff. He had a five oh seven. He

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Speaker 4: had some really greats. And we would go to Pebble

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Speaker 4: and we would go down to Pennsylvania and we'd go

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Speaker 4: all the Florida to Amelia, and that just got me

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Speaker 4: super passionate about collector vehicles. The people that are engaged

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Speaker 4: with these cars. There's a whole panoply of people are

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Speaker 4: really interesting and so that really began my passion for cars.

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Speaker 4: The Turtle Invitational fast forward. Malcolm died in twenty thirteen.

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Speaker 4: The Turtle Invitational benefits the Malcolm Prey Foundation, the Prey

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Speaker 4: Family Foundation, which has a educational facility in Bedford, New

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Speaker 4: York that still has a lot of the cars from

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Speaker 4: his collection. We have an executive director who is actually

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Speaker 4: has a military background, Mary Kay Satriano. We run thousands

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Speaker 4: of kids through the program. When Malcolm was alive, he

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Speaker 4: had over twelve thousand kids go through the program. And

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Speaker 4: it's very basic. Look people in the eye when you

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Speaker 4: shake their hand, don't do drugs, stay in school, be

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Speaker 4: passionate about something. Have you know, your reputation is your

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Speaker 4: greatest assets. There were all these things that Malcolm use.

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Speaker 3: It's kind of like the Little Achievers, theistead of Lebasque

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Speaker 3: Little Achievers. I've been to the Prey Foundation and it's

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Speaker 3: mostly school kids still that are going through there, mostly

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Speaker 3: under It's in Bedford and.

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Speaker 4: Right on the border of Bedford and Grantwich, and that's

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Speaker 4: where you have your car show as well. Well. We

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Speaker 4: have a dinner there during the Turtle Invitational. So the

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Speaker 4: Turtle Invitation is a motoring weekend that's much more about

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Speaker 4: the people than it is the cars, although we get

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Speaker 4: great cars, and it's about camaraderie and it's almost like

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Speaker 4: a salon or if you imagine like a Chautauqua that

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Speaker 4: used to happen out in New York State, where you

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Speaker 4: get together and people talk about lots of different things,

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Speaker 4: some car related, some not. My investment firm actually hosts

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Speaker 4: a dinner of Friday Night and we bring in a

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Speaker 4: money manager that talks about the future of medicine or

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Speaker 4: different things that are going on in the market, and

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Speaker 4: we get a lot of very interesting people to come.

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Speaker 4: But it's a charity benefit for the Prey Foundation and

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Speaker 4: we raise money to just bring more and more kids

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Speaker 4: through the program. And it's not just underprivileged kids, it's

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Speaker 4: over privileged kids also because they need help too.

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Speaker 1: What does that mean over privileged?

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Speaker 4: So you know, for example, I mean there's there's a

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Speaker 4: lot of kids in the kind of Fairfield, Westchester area

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Speaker 4: that have unbelievable means, their families have done very well successfully.

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Speaker 3: Financial and they suffer from affluenza.

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Speaker 4: They suffer from afluenza and sometimes they actually need a

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Speaker 4: different not something in school, not something from their parents,

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Speaker 4: but something from somewhere else, and we provide that.

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Speaker 2: You know, I have never thought that being born to

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Speaker 2: great wealth is necessarily a blessing. No, I concurrent people

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Speaker 2: who I know who have experienced that have their own

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Speaker 2: challenges and difficulties, so I can understand that.

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Speaker 4: But back to the car.

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Speaker 3: So the reason I'm trying to sort this out because

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Speaker 3: you're doing so many different things. You have the Turtle Invitational,

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Speaker 3: which is the car show in Bedford. You have the

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Speaker 3: Malcolm Prey Foundation, which is the collection, Yes, and you

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Speaker 3: also work with the REVS Institute which in Naples, which.

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Speaker 1: Is very distinguished.

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Speaker 4: Musam.

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Speaker 3: It's they have a like an educational program which has

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Speaker 3: really been And how did you get involved with Ossitude

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Speaker 3: and what do you do there? Because you're so like

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Speaker 3: I have been talking with Philip for a couple of

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Speaker 3: years now, you're so deep into collecting restoration. You know

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Speaker 3: all these little details that most people don't, And I

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Speaker 3: guess that's part of the REVS Institute.

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Speaker 4: At Mister Collier has an incrediblely different perspective on restoration

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Speaker 4: and authenticity of vehicles and provenance and the importance of

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Speaker 4: these automobiles as archaeological artifacts that are meaningful vehicles. I

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Speaker 4: got involved with the REVS Institute actually through horses, because

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Speaker 4: I'm an equestrian show jumper and I'm treasurer of the

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Speaker 4: United States Equestrian Team foundation that funds and fields all

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Speaker 4: the Olympic athletes to go abroad and compete for metals

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Speaker 4: and get on the podium. And the Colliers have been

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Speaker 4: very generous in so many ways across lots of different activities,

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Speaker 4: and I got to know them through the equestrian team.

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Speaker 4: And then I went in twenty seventeen to the REV Symposium,

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Speaker 4: which mister Collier holds every other year, which is an

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Speaker 4: incredible gathering globally of all the thought leaders in the

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Speaker 4: collector car universe. And there's panels, and there's workshops and

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Speaker 4: incredible entertainment, and there you have the archaeological.

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Speaker 3: Aga I just pulled up on. So Philip gave me

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Speaker 3: a book a while back which is amazing by Miles Collier,

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Speaker 3: which is called The Archaeological Automobile, and it's it's a

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Speaker 3: really a great ready.

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Speaker 4: He has a whole different perspective, you know. I Mean,

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Speaker 4: Miles would say that a lot of these cars that

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Speaker 4: are restored are fiction because that ice cream cone that

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Speaker 4: fell on the seat of that Dusenberg in nineteen thirty

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Speaker 4: eight has been re upholstered, and that is gone now.

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Speaker 4: It's wiped from the history of the car because it's

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Speaker 4: been restored. And that's not to say that restored cars

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Speaker 4: aren't great, but he's a stickler for authenticity when he

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Speaker 4: restores Hannah, you'll love this, And Magnus knows all this,

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Speaker 4: But when he restores a Porsche, particularly the race cars,

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Speaker 4: they're very careful to be true to the original construction

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Speaker 4: of the vehicle. And back then a lot of these

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Speaker 4: cars were not perfectly assembled, right.

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Speaker 2: Yeah, they're very over restore things.

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Speaker 1: It's pretty gross.

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Speaker 4: Yeah, and you have to make it so it can't

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Speaker 4: be perfect because that's not how it left the factory.

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Speaker 4: And so the REVS Institute is very meticulous about these things.

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Speaker 4: Incredible database of archives. We're still trying. We have I

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Speaker 4: think we have four giant storage facilities outside Naples full

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Speaker 4: of documents, data, build sheets, letters from Enzo Ferrari to

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Speaker 4: buyers that we still haven't even scanned yet to put

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Speaker 4: in our archives. And if you go to Revsinstitute dot

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Speaker 4: org you can search these databases, photographs. We recently bought

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Speaker 4: the Jesse Alexander collection, So all those amazing images from

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Speaker 4: the fifties and sixties of Grand Prix racing and Formula

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Speaker 4: one and all kinds of racing. We have all that,

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Speaker 4: and oftentimes we get inbound calls from Europeans who are

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Speaker 4: restoring these cars, and we can find the cars in

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Speaker 4: the period and we can show them images of what

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Speaker 4: they exactly looked like and if that dent was in

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Speaker 4: the hood, that's still there in nineteen fifty three in

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Speaker 4: that race in Lamal or whatever it is.

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Speaker 1: So Philip, do you restore yourself your own cars?

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Speaker 4: Well, yes, and I mostly restore pre war BMW motorcycles.

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Speaker 4: And when I say I restore them, I find the

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Speaker 4: best people in the country or the world with those

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Speaker 4: it's global who build certain parts of those bikes, so

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Speaker 4: rim builders, speedometer restoration, paintwork, pistons, things of that sort.

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Speaker 4: And then I kind of pull it all together and

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Speaker 4: I have about a dozen of these pre war BMWs

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Speaker 4: that are to me one of the most beautiful engineering

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Speaker 4: artwork pieces that came out of a terrible era in Germany.

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Speaker 3: It's pretty interesting to me because when I first met you.

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Speaker 3: I went to your car show and it is a

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Speaker 3: very large event. There were so many Mercedes that seemed

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Speaker 3: to be a big focus. And then I've learned more

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Speaker 3: about Malcolm Preey's and the revsentce Tudin. You go to

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Speaker 3: all these car shows with packards and Dela Haze, and

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Speaker 3: but then I go into your garage and I see

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Speaker 3: all these BMW motorcycles and I'm like, it's pretty down

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Speaker 3: to earth and cool, Like it's a different when you're

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Speaker 3: a bike guy. Yeah, and I also care a lot

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Speaker 3: about bikes. Yeah, yeah, it I always struggle to understand

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Speaker 3: how people who can are never going to be able

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Speaker 3: to afford these vehicles can make a connection. But I suppose,

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Speaker 3: you know, with art, you don't expect someone to be

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Speaker 3: able to buy like a van Go and you can

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Speaker 3: still go to school for years and study van go

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Speaker 3: you know.

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Speaker 4: But great analogy.

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Speaker 3: But what do you think though about the kids, especially

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Speaker 3: you go through the Prey Institute. How did they connect

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Speaker 3: with you know, a million dollar, ten million dollar, fifty

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Speaker 3: million dollar cars.

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Speaker 4: Well, it's such a great question, Matt and I you know,

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Speaker 4: one of the things where Malcolm was a genius is

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Speaker 4: he was an evangelist of success and shared his collection

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Speaker 4: with young people, so you would get the we'd get

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Speaker 4: these inner city kids coming in on a bus and

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Speaker 4: he'd he'd sit them down and talk to them, and

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Speaker 4: then he'd let them into the North garage first, which

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Speaker 4: is European cars, and then the South garage was American cars.

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Speaker 4: And the kid's expression when you open the door, when

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Speaker 4: you see, you know, fifty cars just glistening in the lights,

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Speaker 4: and he'd say, go pick the car you want, and

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Speaker 4: he'd let all the kids would scurry to their different cars,

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Speaker 4: and he would let them sit in each car. So

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Speaker 4: you know, I had a six and a half million

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Speaker 4: dollar Della Hay and he'd let a kid sit there

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Speaker 4: and hold the wheel and experience that dream. And I

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Speaker 4: think we've changed lives of these kids because no one

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Speaker 4: else is going to let at least back then even today,

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Speaker 4: very few people let kids, you know, jump in these cars.

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Speaker 4: And he was very passionate about that. And we're the

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Speaker 4: same way at the REVS Institute, although you know, our

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Speaker 4: cars we can't really let them be touched in that

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Speaker 4: same way. But being an evangelist of the industry and

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Speaker 4: allowing these kids to really embrace them even if they

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Speaker 4: can't afford them, because someday they might be They probably

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Speaker 4: will be able to right, you know, it's possible.

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Speaker 1: That's a really good point.

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Speaker 2: I'm so curious about your opinion on what you see

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Speaker 2: is the future of collecting these cars, especially the pre

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Speaker 2: war ones. You know, everyone says young people don't care

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Speaker 2: about them. Young people only care about things from the

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Speaker 2: nineties and later. What do you see and plus and

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Speaker 2: how do you see the market going after the election now?

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Speaker 2: I mean, are people going to feel a little more

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Speaker 2: confident spending money on cars?

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Speaker 4: Well, Hannah, these are great questions. There's a lot to unpack.

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Speaker 4: I guess first, I would you know, I had lunch

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Speaker 4: with mister Collier and Naples and we were talking about

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Speaker 4: the fact that you know, these Bugattis, the Veeran and

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Speaker 4: all these very high horsepower supercars that are just capturing kids' imagination.

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Speaker 4: Mister Collier looked at me and said, do you think

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Speaker 4: in fifty years these cars are going to run? Are

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Speaker 4: they going to be able to be driven? And I

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Speaker 4: don't know the answer to that, but I have to

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Speaker 4: believe no that be given the technological you know, load

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Speaker 4: that these cars have in them, the microchips, all these

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Speaker 4: things like, I don't know how they're going to be

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Speaker 4: able to be run in fifty years. Whereas a Packard

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Speaker 4: V twelve, I drive my V twelve Packerd to the market.

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Speaker 4: I go to the Farmer's market in Bedford on the weekends.

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Speaker 4: It starts always, it runs great. And interestingly, we just

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Speaker 4: came off of some auction results that are stunning. And

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Speaker 4: I don't know if you guys follow what happens at

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Speaker 4: Hershey in Pennsylvania, but Hershey is predominantly pre war cars.

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Speaker 4: RM had record sales at Hershey this year. They shattered

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Speaker 4: records with their auctions and pre war cars. So I

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Speaker 4: think there's cross currents here that are still hard to read.

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Speaker 4: But there are a lot of younger people that are

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Speaker 4: fascinated by the engineering of these incredible brass era cars,

384
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Speaker 4: the cars from the thirties, the Dusenberg's, the Blower, Bentley's,

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Speaker 4: all of these like high tech cars from the era.

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Speaker 4: And I was just at Hilton and there were some

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Speaker 4: just spectacular pre war cars and young people flocking to them.

388
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Speaker 4: Whenever I drive my Packer through Bedford, you know, young

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Speaker 4: and old people just gravitate to it. Probably more than

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Speaker 4: a Bugatti Viran.

391
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Speaker 3: But do you take it to that there's a car

392
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Speaker 3: show that everybody cars, and coffee that everybody goes to.

393
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Speaker 3: I did what's called the market or something like that.

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Speaker 4: Hayfield.

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Speaker 1: Yeah, yeah, I love that you're driving your packard.

396
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Speaker 4: Oh you got to drive everything. Everything needs to run

397
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Speaker 4: in my garage.

398
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Speaker 1: That's wonderful.

399
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Speaker 3: I really want to drive. You keep inviting me in.

400
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Speaker 4: I keep telling you, I really got to come drive

401
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Speaker 4: the package. I love it.

402
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Speaker 3: Is it as easy as driving a regular car?

403
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Speaker 4: Do you have to do things with the choke or

404
00:20:30,040 --> 00:20:32,639
Speaker 4: timing advents here and there and all that, But yeah,

405
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Speaker 4: it's easy.

406
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Speaker 3: Yeah, yeah, I mean I think it's so cool. I

407
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Speaker 3: never knew that Enzo Ferrari was motivated by the packard

408
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Speaker 3: until you told me about it, and then I.

409
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Speaker 4: Did a deep dive into it. Yeah, fascinating. He saw

410
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Speaker 4: the V twelve packers and revered them, and that became

411
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Speaker 4: the basis of his architecture for race cars.

412
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Speaker 2: Sense this summer was that people were using the elect

413
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Speaker 2: as a reason to not make a purchase on a car,

414
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Speaker 2: whether or not it was real or just a useful excuse.

415
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Speaker 1: I think it depended on the person.

416
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Speaker 3: I've even heard that from dealers. I've heard a lot

417
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Speaker 3: of dealers.

418
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Speaker 4: Some bat also ran. They did not have big auctions

419
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Speaker 4: closing right the last few days.

420
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Speaker 2: Told me that do you do you see that in

421
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Speaker 2: your own just your trails in your world? What do

422
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Speaker 2: you see now that we are had the election behind us?

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Speaker 4: You know, Hannah, I think car passion transcends all politics,

424
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Speaker 4: all economic indicators. If you really want that car, if

425
00:21:39,280 --> 00:21:42,800
Speaker 4: you really want that six speed, three pedal manual, whatever

426
00:21:42,880 --> 00:21:45,000
Speaker 4: it is, you're going to buy it. You might not

427
00:21:45,040 --> 00:21:47,560
Speaker 4: buy it this week, but you're going to buy it eventually.

428
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Speaker 4: And I think most people that are in the industry

429
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Speaker 4: and the sport, I call it a sport, not a hobby,

430
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Speaker 4: It's a sport. They they're going to buy these cars.

431
00:21:57,600 --> 00:21:59,920
Speaker 4: Whether the Dow is at forty two thousand or the

432
00:22:00,040 --> 00:22:04,560
Speaker 4: downs at sixteen thousand, Maybe prices come down. You could argue, though,

433
00:22:04,640 --> 00:22:08,199
Speaker 4: given real assets and inflation, you could argue that a

434
00:22:08,680 --> 00:22:11,119
Speaker 4: you know, an SL sixty five Black Series is a

435
00:22:11,119 --> 00:22:13,320
Speaker 4: great long term asset to own.

436
00:22:13,880 --> 00:22:15,040
Speaker 3: Now you're talking your own book.

437
00:22:15,119 --> 00:22:16,040
Speaker 4: I'm talking my own book.

438
00:22:16,080 --> 00:22:18,400
Speaker 1: I was gonna say that way just a second.

439
00:22:18,440 --> 00:22:19,600
Speaker 4: Here, you gotta talk your own.

440
00:22:20,840 --> 00:22:23,520
Speaker 3: Yeah, is that by the is that by the way

441
00:22:23,840 --> 00:22:26,480
Speaker 3: at the end of the totally analog era or does

442
00:22:26,520 --> 00:22:27,240
Speaker 3: that car also?

443
00:22:27,400 --> 00:22:30,760
Speaker 4: Is it also packed with chips? No, it's a bi

444
00:22:30,840 --> 00:22:34,159
Speaker 4: turbo V twelve. They're never gonna build Mercedes isn't going

445
00:22:34,160 --> 00:22:36,560
Speaker 4: to build another car like that. Again, it's very simple.

446
00:22:36,600 --> 00:22:39,399
Speaker 4: It's a not simple, but it's a twelve, you know,

447
00:22:39,440 --> 00:22:40,399
Speaker 4: it's not they stopped.

448
00:22:40,440 --> 00:22:42,480
Speaker 3: That's the engine they made for Pegani as well. Do

449
00:22:42,560 --> 00:22:43,320
Speaker 3: they still make that?

450
00:22:43,440 --> 00:22:46,520
Speaker 4: So the Pagani was the well, the original Pagani Zonda

451
00:22:46,640 --> 00:22:49,080
Speaker 4: had the M one twenty which was a which is

452
00:22:49,240 --> 00:22:51,600
Speaker 4: the engine that's in the R one twenty nine SL

453
00:22:51,680 --> 00:22:54,600
Speaker 4: six hundred, the W one forty coup six hundred.

454
00:22:54,840 --> 00:22:56,679
Speaker 3: Hand they wrote about the R twenty nine, it's a

455
00:22:56,840 --> 00:22:58,800
Speaker 3: very great car.

456
00:22:58,680 --> 00:23:01,160
Speaker 4: Bruno Saco god rest of soul. You know, he died

457
00:23:01,560 --> 00:23:03,439
Speaker 4: a couple of weeks ago. He designed that car and

458
00:23:03,840 --> 00:23:06,119
Speaker 4: he always said it was his favorite. The R one

459
00:23:06,200 --> 00:23:08,119
Speaker 4: twenty nine was the most beautiful car he ever designed.

460
00:23:08,119 --> 00:23:10,160
Speaker 4: It looks good with the top down, it looks good

461
00:23:10,160 --> 00:23:12,040
Speaker 4: with the top up, and it looks great at hard top.

462
00:23:12,080 --> 00:23:16,280
Speaker 4: It's a rarity, But that M one twenty V twelve.

463
00:23:16,359 --> 00:23:20,600
Speaker 4: Is it's a normally aspirated, reliable engine. I had an

464
00:23:20,680 --> 00:23:23,760
Speaker 4: SL I think it was like a ninety seven SL

465
00:23:23,880 --> 00:23:26,879
Speaker 4: six hundred. I think I put seventy thousand miles on it.

466
00:23:26,960 --> 00:23:28,880
Speaker 4: Never wants a problem bulletproof?

467
00:23:29,240 --> 00:23:29,560
Speaker 1: Wow?

468
00:23:29,680 --> 00:23:30,000
Speaker 4: Yeah?

469
00:23:30,040 --> 00:23:32,199
Speaker 3: And what Diana had the R one twenty nine and

470
00:23:32,240 --> 00:23:33,639
Speaker 3: she is that what she first got?

471
00:23:33,760 --> 00:23:37,159
Speaker 4: Kind of a trouble she did. And you know, I

472
00:23:37,240 --> 00:23:39,560
Speaker 4: was listening to the podcast the other day when you

473
00:23:39,600 --> 00:23:41,560
Speaker 4: were talking about what if the royal family bought a

474
00:23:41,600 --> 00:23:44,399
Speaker 4: ge Vagen what would happen? And I thought, as I'm listening,

475
00:23:44,440 --> 00:23:47,399
Speaker 4: I said, well, Diana did buy an R one twenty

476
00:23:47,480 --> 00:23:50,560
Speaker 4: nine in nineteen ninety shit, a five hundred SL and

477
00:23:51,560 --> 00:23:54,480
Speaker 4: she got flack for it, and she gave it back.

478
00:23:54,520 --> 00:23:56,120
Speaker 4: And believe it or not, if you go to Stutgard

479
00:23:56,160 --> 00:23:59,240
Speaker 4: to the Mercedes Museum, the car is in the Mercedes Museum.

480
00:23:59,320 --> 00:24:02,560
Speaker 4: It's a red it's a red SL and it's beautiful.

481
00:24:02,800 --> 00:24:05,080
Speaker 1: Yeah, it's beautiful. We wrote about the car.

482
00:24:05,960 --> 00:24:10,000
Speaker 2: She took delivery of it in nineteen ninety one. And yeah,

483
00:24:10,080 --> 00:24:13,040
Speaker 2: apparently they made her switch back. Yeah, which is kind

484
00:24:13,040 --> 00:24:14,600
Speaker 2: of too bad because her taste was.

485
00:24:14,520 --> 00:24:16,760
Speaker 4: Spot on, I mean, really ahead of her time.

486
00:24:16,760 --> 00:24:19,320
Speaker 3: By the way, Hannah, you need one repository of all

487
00:24:19,359 --> 00:24:23,120
Speaker 3: your stories like you need that is Anna Elliott website

488
00:24:23,160 --> 00:24:24,640
Speaker 3: that has just your stories.

489
00:24:24,680 --> 00:24:26,200
Speaker 4: I agree, Yeah, let's go there.

490
00:24:26,400 --> 00:24:27,640
Speaker 1: Thank you. We can.

491
00:24:27,800 --> 00:24:29,520
Speaker 2: There is a place where you can click on my

492
00:24:29,600 --> 00:24:31,560
Speaker 2: name and all of my stories will appear.

493
00:24:31,720 --> 00:24:34,840
Speaker 4: And your travel, Hannah, I am blown away by the

494
00:24:34,880 --> 00:24:37,639
Speaker 4: places you go and the cars you get to drive.

495
00:24:38,200 --> 00:24:42,159
Speaker 4: From the cyber truck to Aston Martin's. You were just

496
00:24:42,240 --> 00:24:45,560
Speaker 4: in Zurich, right with the Bentley and I want to know.

497
00:24:45,680 --> 00:24:47,880
Speaker 4: I really want to know, because it's my favorite restaurant.

498
00:24:47,920 --> 00:24:50,240
Speaker 4: How was the cronin haul. Did you meet there?

499
00:24:50,680 --> 00:24:51,760
Speaker 1: Yes? I did, I ate.

500
00:24:51,840 --> 00:24:53,920
Speaker 2: I went to the bar a couple times, loved the bar,

501
00:24:54,480 --> 00:24:57,320
Speaker 2: did not love the restaurant. To be honest, it seemed

502
00:24:57,359 --> 00:24:59,120
Speaker 2: I don't know when the last time you were there,

503
00:24:59,160 --> 00:25:02,600
Speaker 2: but it seemed a little outdated and the food wasn't great.

504
00:25:03,119 --> 00:25:05,880
Speaker 4: Well, it's been outdated since nineteen foot say the best

505
00:25:05,880 --> 00:25:06,760
Speaker 4: places are outdated.

506
00:25:06,840 --> 00:25:09,720
Speaker 2: No, it's outdated, outdated like Musso and Frank is outdated.

507
00:25:09,720 --> 00:25:12,240
Speaker 4: With cool, they say in German automodish.

508
00:25:12,520 --> 00:25:13,360
Speaker 3: Yes exactly.

509
00:25:13,880 --> 00:25:15,240
Speaker 1: I just thought the food wasn't great.

510
00:25:15,320 --> 00:25:18,960
Speaker 2: I just thought it wasn't very fresh or flavorful, but

511
00:25:19,080 --> 00:25:23,080
Speaker 2: the bar was incredible. Yeah, I love I love that

512
00:25:23,119 --> 00:25:25,000
Speaker 2: it had no music. I love that it was small.

513
00:25:25,160 --> 00:25:27,960
Speaker 2: I love that it's wood paneled. And they make a

514
00:25:27,960 --> 00:25:31,680
Speaker 2: proper martini and a proper boulevardier, which are my two standbys.

515
00:25:32,760 --> 00:25:34,440
Speaker 1: So I love the Chronool.

516
00:25:34,840 --> 00:25:36,879
Speaker 3: I always think the best play like the Union Club.

517
00:25:38,720 --> 00:25:40,840
Speaker 3: The best places have bad food.

518
00:25:41,160 --> 00:25:46,080
Speaker 4: Yeah, that's the atmosphere exactly, true, cocktails, bad food.

519
00:25:46,280 --> 00:25:49,000
Speaker 1: We all have places that we go for things other

520
00:25:49,080 --> 00:25:49,560
Speaker 1: than the food.

521
00:25:49,640 --> 00:25:51,840
Speaker 4: Did you have the schnitzel because the schnitzel is great.

522
00:25:52,000 --> 00:25:55,440
Speaker 1: I did have the schnitzel, and I love a schnitzel.

523
00:25:55,480 --> 00:25:57,920
Speaker 2: I mean, you really can't go wrong, but you can

524
00:25:57,960 --> 00:25:59,600
Speaker 2: get great schnitzel anywhere.

525
00:26:00,800 --> 00:26:01,119
Speaker 4: True.

526
00:26:01,520 --> 00:26:04,160
Speaker 1: My favorite if you're in Germany or Switzerland.

527
00:26:04,359 --> 00:26:07,199
Speaker 3: My favorite place is on Moscow or Strasa in Berlin.

528
00:26:07,280 --> 00:26:10,840
Speaker 3: It's called Eolesh and they have the most amazing schnitzel.

529
00:26:10,920 --> 00:26:15,119
Speaker 3: You're Berlin and creudz ber Yeah, yeah.

530
00:26:14,000 --> 00:26:14,360
Speaker 4: All right.

531
00:26:14,400 --> 00:26:18,120
Speaker 3: So the you like the cars just up to sort

532
00:26:18,200 --> 00:26:22,200
Speaker 3: of the tech wave of I guess the nineties, right,

533
00:26:22,600 --> 00:26:25,080
Speaker 3: you know, you like the pre war stuff, but you

534
00:26:25,160 --> 00:26:29,320
Speaker 3: also like I think you like the E forty six M.

535
00:26:29,240 --> 00:26:30,520
Speaker 4: Three, which I love as well.

536
00:26:31,119 --> 00:26:33,919
Speaker 3: You saw mine, yeah, I saw yours. I always think about,

537
00:26:34,040 --> 00:26:37,359
Speaker 3: you know, technology and especially evs now, but also the

538
00:26:37,359 --> 00:26:40,119
Speaker 3: technology that came in before. Like I think about the

539
00:26:40,200 --> 00:26:44,760
Speaker 3: last time a Portia didn't have electronics steering or you

540
00:26:44,800 --> 00:26:50,320
Speaker 3: know these kind of fake tech benefits, Like that's the

541
00:26:50,560 --> 00:26:52,680
Speaker 3: edge of where car collecting is going to end.

542
00:26:52,720 --> 00:26:56,479
Speaker 4: I think I think you might be right. Although, although

543
00:26:56,560 --> 00:26:59,160
Speaker 4: how about Portia with a nine to eleven T next year?

544
00:26:59,600 --> 00:27:04,560
Speaker 4: Only an manual? Can you believe it? I love he already.

545
00:27:04,560 --> 00:27:06,320
Speaker 3: For me, the tea is the one, is the one

546
00:27:06,359 --> 00:27:06,640
Speaker 3: to go.

547
00:27:06,640 --> 00:27:07,240
Speaker 4: With, yeh.

548
00:27:07,320 --> 00:27:09,159
Speaker 1: The thinking Man's So.

549
00:27:09,240 --> 00:27:10,600
Speaker 4: I don't know if I told you this, but I

550
00:27:10,680 --> 00:27:14,840
Speaker 4: was at Pebble last year and I was I've never Hannah.

551
00:27:14,840 --> 00:27:17,080
Speaker 4: You know Keith Martin at sports Car Market, right, the

552
00:27:17,400 --> 00:27:18,920
Speaker 4: who writes sports Car Market.

553
00:27:19,600 --> 00:27:20,880
Speaker 1: I'm aware of sports Car Market.

554
00:27:20,960 --> 00:27:22,760
Speaker 4: Yeah, So he's the publisher. And I was meeting him

555
00:27:22,760 --> 00:27:25,800
Speaker 4: for dinner somewhere in Monterey and I walking into the

556
00:27:25,840 --> 00:27:30,359
Speaker 4: restaurant and there's this car outside of the restaurant and

557
00:27:30,440 --> 00:27:32,360
Speaker 4: I didn't I didn't recognize it. And I went over

558
00:27:32,400 --> 00:27:34,080
Speaker 4: and there's a guy sitting in the car and I

559
00:27:34,160 --> 00:27:36,840
Speaker 4: looked between the seats, and there is a manual in

560
00:27:36,880 --> 00:27:39,080
Speaker 4: this car is brand new. It's a new BMWM TWOG

561
00:27:39,160 --> 00:27:42,760
Speaker 4: eighty seven. And I looked at this car, big fat

562
00:27:42,760 --> 00:27:47,880
Speaker 4: fender flares, six speed, manual, rear wheel drive, carbon fiber roof,

563
00:27:48,000 --> 00:27:51,360
Speaker 4: racing seats, the whole thing. I haven't been that excited

564
00:27:51,359 --> 00:27:54,240
Speaker 4: by a new car in twenty years. I went back

565
00:27:54,320 --> 00:27:57,359
Speaker 4: to my hotel room. I talked to the guy. He

566
00:27:57,960 --> 00:28:00,480
Speaker 4: like it Monterey. Everybody he owns forty three. He said,

567
00:28:00,480 --> 00:28:02,919
Speaker 4: it's the best car he's ever had. I order it

568
00:28:02,960 --> 00:28:05,320
Speaker 4: online right then there I had to deliver to Greenwich

569
00:28:05,400 --> 00:28:08,479
Speaker 4: BMW and it's you guys had this banter the other

570
00:28:08,560 --> 00:28:11,200
Speaker 4: day about six about manuals, three pedal cars and how

571
00:28:11,520 --> 00:28:14,160
Speaker 4: you know if you buy a four cylinder automatic, you're

572
00:28:14,400 --> 00:28:17,640
Speaker 4: you've given up on life effectively. And this six speed

573
00:28:18,240 --> 00:28:21,520
Speaker 4: M two is almost like a It's a two thousand

574
00:28:21,520 --> 00:28:24,240
Speaker 4: and two TII, messed with an E thirty M three,

575
00:28:24,720 --> 00:28:27,200
Speaker 4: messed with an E forty six. But it's a modern car.

576
00:28:27,800 --> 00:28:29,480
Speaker 4: And I can't wait to drive it with you, because

577
00:28:29,480 --> 00:28:31,520
Speaker 4: I just got it. They finally delivered it. We got

578
00:28:31,520 --> 00:28:31,919
Speaker 4: to take it out.

579
00:28:31,920 --> 00:28:34,320
Speaker 3: I'll give it to you for a weekend.

580
00:28:34,400 --> 00:28:35,440
Speaker 4: Take it. It's fabulous.

581
00:28:35,960 --> 00:28:37,399
Speaker 3: Oh that's not for I can't refuse.

582
00:28:37,560 --> 00:28:39,280
Speaker 2: Can we talk about a comment that I might have

583
00:28:39,320 --> 00:28:45,000
Speaker 2: seen in an email about hoarding parts for these cars,

584
00:28:45,040 --> 00:28:48,360
Speaker 2: Because you say hoarding like it's a bad thing.

585
00:28:48,760 --> 00:28:50,120
Speaker 1: I think it's just planning.

586
00:28:49,800 --> 00:28:51,800
Speaker 3: For the This isn't about the M two, right, this

587
00:28:51,880 --> 00:28:54,280
Speaker 3: is about more like your SL.

588
00:28:54,520 --> 00:28:56,680
Speaker 4: So here's the thing when you have a car. So

589
00:28:56,800 --> 00:28:59,160
Speaker 4: let's just take the SL sixty five Black Series free.

590
00:28:59,520 --> 00:29:02,120
Speaker 4: It was made for eight months in two thousand and

591
00:29:02,160 --> 00:29:04,200
Speaker 4: eight into two thousand and nine. They made three hundred

592
00:29:04,200 --> 00:29:06,040
Speaker 4: and fifty worldwide. They're one hundred and seventy five in

593
00:29:06,040 --> 00:29:08,880
Speaker 4: the US. That makes this car way rarer than a

594
00:29:08,880 --> 00:29:13,120
Speaker 4: gull wing. It was also the first car fully manufactured

595
00:29:13,120 --> 00:29:16,760
Speaker 4: at Alfalterbach at AMG. It was not built by Mercedes.

596
00:29:16,800 --> 00:29:18,720
Speaker 4: It was fully built carbon A lot of carbon fiber

597
00:29:18,800 --> 00:29:21,760
Speaker 4: got rid of the drop top all you know, And

598
00:29:23,640 --> 00:29:25,960
Speaker 4: you know you can't get parts for it. If you

599
00:29:26,040 --> 00:29:27,760
Speaker 4: hit a deer with it. There's not a lot you

600
00:29:27,760 --> 00:29:30,520
Speaker 4: can do with it, right, And I was thinking about

601
00:29:30,560 --> 00:29:33,880
Speaker 4: the rims, which are just this, you know, staggered, enormous,

602
00:29:33,920 --> 00:29:37,360
Speaker 4: beautiful wheels only for that car for one year only.

603
00:29:38,000 --> 00:29:40,680
Speaker 4: And I came across a set of brand new wheels

604
00:29:40,760 --> 00:29:44,000
Speaker 4: last week that are first sale, which at a bargain

605
00:29:44,000 --> 00:29:46,280
Speaker 4: because if you weren't able to buy them from Mercedes

606
00:29:46,280 --> 00:29:48,320
Speaker 4: back like five years ago, they were like six grand

607
00:29:48,360 --> 00:29:51,720
Speaker 4: a wheel for one rim. And I was yesterday at

608
00:29:51,760 --> 00:29:53,800
Speaker 4: lunch with mister Collier and I said, Miles, you know,

609
00:29:53,840 --> 00:29:56,160
Speaker 4: what do you think should I stockpile this? He goes,

610
00:29:56,200 --> 00:29:58,880
Speaker 4: You know, Phil, back in the day, there was a

611
00:29:58,920 --> 00:30:02,120
Speaker 4: truckload of parts for nine to seventeen Portie and I

612
00:30:02,240 --> 00:30:04,320
Speaker 4: bought all the parts and I never looked back, and

613
00:30:04,360 --> 00:30:06,160
Speaker 4: thank god I did. He goes, I would buy those

614
00:30:06,280 --> 00:30:08,200
Speaker 4: rims because you'll never ab to find if you take

615
00:30:08,200 --> 00:30:09,920
Speaker 4: it out and bend a wheel, what do you do?

616
00:30:10,000 --> 00:30:11,640
Speaker 4: Oh dude, you have to buy it. So I bought him.

617
00:30:11,680 --> 00:30:14,600
Speaker 4: I wondered them, I got him. They're coming from itall

618
00:30:14,840 --> 00:30:15,120
Speaker 4: I have.

619
00:30:15,400 --> 00:30:18,320
Speaker 3: You know, I have a two thousand and seven Ducati

620
00:30:18,520 --> 00:30:21,320
Speaker 3: S four R S trec Laure So it's the sort

621
00:30:21,320 --> 00:30:25,680
Speaker 3: of the pinnacle of the original monster. And they had

622
00:30:26,240 --> 00:30:30,840
Speaker 3: problems with tank swelling because the tanks were this composite,

623
00:30:30,880 --> 00:30:35,720
Speaker 3: they weren't steel, and they would get misshapen. Mine is perfect.

624
00:30:35,800 --> 00:30:39,240
Speaker 3: But I saw a guy in Japan Beats tanks for

625
00:30:39,320 --> 00:30:42,120
Speaker 3: this specific model, which they only made for two years,

626
00:30:42,720 --> 00:30:45,680
Speaker 3: and I ordered one when the yen was cheap, because

627
00:30:45,720 --> 00:30:47,680
Speaker 3: I figured he's not going to build parts for a

628
00:30:47,680 --> 00:30:50,160
Speaker 3: two thousand and seven motorcycle that there's only four hundred

629
00:30:50,160 --> 00:30:53,400
Speaker 3: of them anyway forever. I might as well get one

630
00:30:53,440 --> 00:30:56,080
Speaker 3: of these tanks and hold it just in case.

631
00:30:55,920 --> 00:30:58,760
Speaker 4: Or hoard it to use your or just it. Yeah, exactly.

632
00:30:58,760 --> 00:31:00,600
Speaker 3: I think you have to do that, especially if it's

633
00:31:00,960 --> 00:31:04,000
Speaker 3: a vehicle that you care about that much. And I've

634
00:31:04,000 --> 00:31:05,920
Speaker 3: been to your place, so I know that you have

635
00:31:06,040 --> 00:31:08,400
Speaker 3: all your cars a kidden away in a garage that's

636
00:31:08,400 --> 00:31:10,240
Speaker 3: closed and locked up, and then you had the sl

637
00:31:10,320 --> 00:31:13,680
Speaker 3: like out displayed in the you know, in the field

638
00:31:13,720 --> 00:31:16,040
Speaker 3: or in the driveway there. So like you clearly love

639
00:31:16,160 --> 00:31:19,200
Speaker 3: that vehicle, and so you have to do anything you

640
00:31:19,240 --> 00:31:21,640
Speaker 3: can to keep it alive for your kids.

641
00:31:21,720 --> 00:31:24,440
Speaker 4: Yeah, right, absolutely, And I can't let a bent rim

642
00:31:24,600 --> 00:31:26,560
Speaker 4: in twenty thirty sideline the.

643
00:31:26,480 --> 00:31:28,600
Speaker 3: Cold or else You're gonna have to have somebody make

644
00:31:28,680 --> 00:31:29,240
Speaker 3: new rim for you.

645
00:31:29,320 --> 00:31:31,120
Speaker 4: Yeah. I mean by then, maybe three D print it

646
00:31:31,200 --> 00:31:32,280
Speaker 4: and there's no problem it.

647
00:31:32,200 --> 00:31:34,360
Speaker 3: Seems to be a big problem for tires. Hannah and

648
00:31:34,400 --> 00:31:37,760
Speaker 3: I were talking about Portia just made new tires for

649
00:31:37,840 --> 00:31:39,920
Speaker 3: the Karera GT right.

650
00:31:39,720 --> 00:31:41,840
Speaker 1: And it's a big deal.

651
00:31:41,960 --> 00:31:45,640
Speaker 3: I also like, I'm right now lusting after a Harley

652
00:31:45,720 --> 00:31:49,000
Speaker 3: Davidson Fat Bob. They stopped making them last year and

653
00:31:49,000 --> 00:31:51,320
Speaker 3: I don't think they're gonna make it again. And Avon

654
00:31:51,400 --> 00:31:53,720
Speaker 3: made a set of tires for that that everybody swears by.

655
00:31:54,040 --> 00:31:56,120
Speaker 3: Now Avon I think has gone out of business.

656
00:31:56,160 --> 00:32:00,600
Speaker 4: So I run Avon's on all my pre WARBMD. Their

657
00:32:00,680 --> 00:32:03,000
Speaker 4: incredible tire, the Great Tire.

658
00:32:03,240 --> 00:32:06,360
Speaker 3: Such a niche little discussion.

659
00:32:05,800 --> 00:32:07,760
Speaker 1: Here, Matt, Where are you going to keep that tank?

660
00:32:07,800 --> 00:32:08,680
Speaker 1: Where are you keeping that?

661
00:32:09,680 --> 00:32:11,920
Speaker 3: I keep it in my office because it also looks cool.

662
00:32:12,040 --> 00:32:15,959
Speaker 3: It's a hand beat bare aluminum tank and it looks awesome.

663
00:32:16,120 --> 00:32:18,480
Speaker 3: So I have it working home, right up next to

664
00:32:18,640 --> 00:32:20,479
Speaker 3: next to my first Grateful Dead show stub.

665
00:32:20,800 --> 00:32:21,440
Speaker 4: Oh.

666
00:32:21,440 --> 00:32:23,760
Speaker 2: That is a constraining factor here. Once we start, you know,

667
00:32:23,840 --> 00:32:27,160
Speaker 2: planning ahead quote unquote with parts, you start to run

668
00:32:27,200 --> 00:32:27,760
Speaker 2: out of space.

669
00:32:28,320 --> 00:32:30,600
Speaker 3: Well, especially people who live around here, like I have

670
00:32:30,680 --> 00:32:34,120
Speaker 3: no garage space. I'm like putting motorcycles in the house

671
00:32:34,160 --> 00:32:37,120
Speaker 3: because I can't keep them I only have you know

672
00:32:37,160 --> 00:32:37,760
Speaker 3: one garage.

673
00:32:37,800 --> 00:32:40,560
Speaker 1: So is the Mercedes your forever car film?

674
00:32:40,600 --> 00:32:43,120
Speaker 4: Oh yeah, I would never sell the sixty five. I

675
00:32:43,560 --> 00:32:45,600
Speaker 4: first saw it in two thousand and nine. Remember that

676
00:32:45,640 --> 00:32:48,320
Speaker 4: you said, the Mercedes showroom on Park Avenue. Yes, And

677
00:32:48,360 --> 00:32:50,560
Speaker 4: I was walking out of the middle of the financial crisis.

678
00:32:50,600 --> 00:32:53,040
Speaker 4: The world was ending. Mercedes is really good at this, right.

679
00:32:53,080 --> 00:32:55,120
Speaker 4: They launched the six point nine in the seventies when

680
00:32:55,160 --> 00:32:58,000
Speaker 4: there was no gasoline, and you know, they're like, yeah,

681
00:32:58,040 --> 00:32:59,960
Speaker 4: I love that car, right, And then they launched this

682
00:33:00,040 --> 00:33:03,360
Speaker 4: sixty five Black Series in the middle of the financial crisis.

683
00:33:03,360 --> 00:33:06,040
Speaker 4: The world's ending, and I walking down the street going

684
00:33:06,040 --> 00:33:08,720
Speaker 4: to Prett to get a sandwich, and I see this

685
00:33:09,160 --> 00:33:13,400
Speaker 4: sl sixty five parked in the in the showroom there,

686
00:33:13,560 --> 00:33:15,800
Speaker 4: and it was a big Soult sign on it, and

687
00:33:15,840 --> 00:33:17,920
Speaker 4: I just couldn't bleed my eyes. It was the same

688
00:33:18,040 --> 00:33:21,640
Speaker 4: feeling I had when I saw a portion nine fifty

689
00:33:21,720 --> 00:33:24,480
Speaker 4: nine in person for the first time. So, I mean, Hannah,

690
00:33:24,560 --> 00:33:25,960
Speaker 4: you know when you look at a nine to fifty

691
00:33:26,040 --> 00:33:28,280
Speaker 4: nine in person, the photographs don't do it justice.

692
00:33:28,360 --> 00:33:29,880
Speaker 1: Right, It's got an X factor.

693
00:33:30,040 --> 00:33:33,000
Speaker 4: It has an X factor that you can't define. And

694
00:33:33,040 --> 00:33:35,920
Speaker 4: I'm staring at this SL sixty five through the glass

695
00:33:35,920 --> 00:33:38,239
Speaker 4: with my head on the glass, and I'm staring at

696
00:33:38,240 --> 00:33:40,400
Speaker 4: a drooling on the sidewalk and people are looking at me,

697
00:33:40,800 --> 00:33:44,160
Speaker 4: you know, sideways. And I call my best friend who

698
00:33:44,160 --> 00:33:46,440
Speaker 4: owns a Mercedes dealer in New Jersey, and I said, Scott,

699
00:33:46,680 --> 00:33:49,880
Speaker 4: what is this car? And he goes, oh, oh, Fillip, Philip.

700
00:33:50,560 --> 00:33:52,880
Speaker 4: I only got one. He's like the second largest volume

701
00:33:52,880 --> 00:33:54,880
Speaker 4: dealer in the country. Only got one, you know, as

702
00:33:54,880 --> 00:33:58,560
Speaker 4: an allocation, And so I waited patiently. Three years later

703
00:33:58,600 --> 00:33:59,560
Speaker 4: I bought one.

704
00:34:00,000 --> 00:34:02,920
Speaker 3: I have to introduce you to Kevin Tynan, who is

705
00:34:03,320 --> 00:34:05,560
Speaker 3: an autos analyst. He used to work for us. Now

706
00:34:05,560 --> 00:34:08,399
Speaker 3: he's gone to his own shop, I think, but he

707
00:34:08,920 --> 00:34:14,360
Speaker 3: is obsessive about that period Mercedes and has I think

708
00:34:14,920 --> 00:34:17,440
Speaker 3: a couple of V twelves and vas.

709
00:34:18,960 --> 00:34:19,440
Speaker 4: Yeah, he is.

710
00:34:19,560 --> 00:34:21,440
Speaker 1: He just saw his son this weekend too.

711
00:34:21,640 --> 00:34:23,759
Speaker 3: And his son has one too, and they work on

712
00:34:23,800 --> 00:34:25,840
Speaker 3: them themselves and their own garage.

713
00:34:26,000 --> 00:34:29,080
Speaker 4: It's the best. The tough period there though in Mercedes

714
00:34:29,160 --> 00:34:31,400
Speaker 4: history is you know that was during well that was

715
00:34:31,440 --> 00:34:34,160
Speaker 4: at the end, that was after, but that before Chrysler,

716
00:34:34,200 --> 00:34:36,960
Speaker 4: the Chrysler takeover period. There was a lot of bad

717
00:34:37,040 --> 00:34:40,319
Speaker 4: stuff that went on there and a lot of corners cut.

718
00:34:40,360 --> 00:34:43,040
Speaker 4: I mean the R one twenty nine for example. In

719
00:34:43,160 --> 00:34:46,200
Speaker 4: ninety eight they dropped the M one nineteen four valve

720
00:34:46,760 --> 00:34:49,040
Speaker 4: V eight and they put a three valve V eight

721
00:34:49,120 --> 00:34:51,200
Speaker 4: in it. I mean, it's just unbelievable.

722
00:34:51,280 --> 00:34:55,480
Speaker 3: Yes, they made mistakes, but for me, uh, for me personally,

723
00:34:55,880 --> 00:35:00,960
Speaker 3: the Daimler Chrysler merger of equals Y was worked out

724
00:35:01,040 --> 00:35:04,880
Speaker 3: so well because I have and love the Dodge Challenger,

725
00:35:05,239 --> 00:35:08,359
Speaker 3: which is essentially a Mercedes E class you know, from

726
00:35:08,440 --> 00:35:08,960
Speaker 3: the period.

727
00:35:10,400 --> 00:35:11,640
Speaker 1: I've never heard you put it that way.

728
00:35:11,920 --> 00:35:15,600
Speaker 3: Well, they use the same platform to make their Challenger

729
00:35:15,800 --> 00:35:18,880
Speaker 3: their three hundred and A charger.

730
00:35:19,000 --> 00:35:21,560
Speaker 4: Yeah, exactly. So do I need a Demon?

731
00:35:22,200 --> 00:35:24,480
Speaker 3: Oh yes, I mean I don't think you necessarily need

732
00:35:24,480 --> 00:35:27,120
Speaker 3: a Demon. I think that's overkilled. I think you're fine

733
00:35:27,160 --> 00:35:30,000
Speaker 3: with a hell Cat because what you want is the

734
00:35:30,040 --> 00:35:35,319
Speaker 3: supercharger wine And for me, it's the bad muscle car

735
00:35:35,440 --> 00:35:37,879
Speaker 3: style and you're not going.

736
00:35:37,800 --> 00:35:41,840
Speaker 4: To be it is the bad muscle car style.

737
00:35:42,040 --> 00:35:44,879
Speaker 3: It definitely when you see a Dodge Challenger, you think

738
00:35:44,960 --> 00:35:46,480
Speaker 3: the dude who's driving.

739
00:35:46,160 --> 00:35:49,080
Speaker 4: It is probably a criminals. You know, Yeah, he's definitely

740
00:35:49,080 --> 00:35:50,919
Speaker 4: done time, he's done time.

741
00:35:58,719 --> 00:36:01,080
Speaker 2: I need to ask I need to asked Philip going

742
00:36:01,120 --> 00:36:03,439
Speaker 2: back to you made a comment and you said that

743
00:36:04,040 --> 00:36:08,040
Speaker 2: car collecting is a sport not a hobby. Yeah, and

744
00:36:08,160 --> 00:36:09,040
Speaker 2: I need you.

745
00:36:08,960 --> 00:36:10,919
Speaker 1: To unpack that a little bit. What do you mean

746
00:36:11,000 --> 00:36:14,640
Speaker 1: by that? And is horse riding a sport or a hobby?

747
00:36:15,239 --> 00:36:17,320
Speaker 4: You know? I think if the depending on the level

748
00:36:17,360 --> 00:36:19,719
Speaker 4: in Equestriaan, it can be a hobby. People ride on

749
00:36:19,719 --> 00:36:22,160
Speaker 4: the weekends and have fun. But at the level I

750
00:36:22,280 --> 00:36:24,840
Speaker 4: compete at and my peers, it's it's a full on sport.

751
00:36:24,880 --> 00:36:28,120
Speaker 4: I mean, Georgina Bloomberg is a great competitor. I'm good

752
00:36:28,160 --> 00:36:31,440
Speaker 4: friends with her, and she's an incredible athlete. These are

753
00:36:31,480 --> 00:36:33,439
Speaker 4: real athletes people at that level I mean of course

754
00:36:33,640 --> 00:36:35,040
Speaker 4: spirit and it's a it's.

755
00:36:34,920 --> 00:36:37,600
Speaker 1: A Michael car collecting a sport.

756
00:36:37,760 --> 00:36:40,840
Speaker 4: Well, I think I think the the industry has evolved.

757
00:36:40,880 --> 00:36:42,880
Speaker 4: I mean it used to be a fun hobby and

758
00:36:42,920 --> 00:36:45,759
Speaker 4: you'd go to a you know, a SAT. Sunday car

759
00:36:45,840 --> 00:36:49,000
Speaker 4: show and people would drink coffee. And now with bring

760
00:36:49,040 --> 00:36:51,839
Speaker 4: a trailer and all the interesting models that have come

761
00:36:51,840 --> 00:36:54,840
Speaker 4: out over the last thirty years and the things to

762
00:36:54,920 --> 00:36:56,400
Speaker 4: do with them, whether it's you can you know, you

763
00:36:56,440 --> 00:37:00,560
Speaker 4: can join, you can join private clubs like up on

764
00:37:00,600 --> 00:37:03,040
Speaker 4: Carcello Classic Car Club Manhattan.

765
00:37:03,239 --> 00:37:06,520
Speaker 3: It's become not the Beverly Hills Car Club. No, that's

766
00:37:06,520 --> 00:37:08,640
Speaker 3: too exclusive.

767
00:37:08,920 --> 00:37:11,000
Speaker 4: It would let us in that club. But but but

768
00:37:11,080 --> 00:37:14,840
Speaker 4: it's become much more dynamic, and it's it's not so

769
00:37:15,000 --> 00:37:17,400
Speaker 4: much a hobby, but it's it's a real sport. And

770
00:37:17,440 --> 00:37:19,919
Speaker 4: I think I keep going back to the people you meet,

771
00:37:19,960 --> 00:37:21,799
Speaker 4: which is so great, but the things you can do

772
00:37:21,880 --> 00:37:24,799
Speaker 4: with these cars. We ran a Turtle Rally on the

773
00:37:24,840 --> 00:37:26,880
Speaker 4: off year of the Turtle Invitational, and we went to

774
00:37:26,920 --> 00:37:30,160
Speaker 4: Cooperstown and we're hosted by the chairman of the Baseball

775
00:37:30,160 --> 00:37:32,840
Speaker 4: Hall of Fame and we we you know, stayed at

776
00:37:32,880 --> 00:37:36,240
Speaker 4: the Oda Zaga and we had like thirty amazing cars

777
00:37:36,280 --> 00:37:38,600
Speaker 4: we had. You know, one guy drove a fifty five

778
00:37:38,640 --> 00:37:41,799
Speaker 4: Speedster that was unrestored. I mean, Magnus would have loved

779
00:37:41,800 --> 00:37:45,040
Speaker 4: this car, and it was just an incredible piece of

780
00:37:45,160 --> 00:37:48,359
Speaker 4: history and leaked like a sieve when it rained. And

781
00:37:48,400 --> 00:37:50,040
Speaker 4: that's the kind of thing that makes it more like

782
00:37:50,080 --> 00:37:51,400
Speaker 4: a sport I think today.

783
00:37:52,000 --> 00:37:57,279
Speaker 5: It's also it's also competitive, yeah, right, extremely And then

784
00:37:57,480 --> 00:38:00,680
Speaker 5: like I'm treading on Hanna's territory here, But what do

785
00:38:00,760 --> 00:38:05,160
Speaker 5: you think about Mkhil Hagerty coming in and kind of

786
00:38:05,200 --> 00:38:09,000
Speaker 5: shaking up to some extent the auction business.

787
00:38:08,600 --> 00:38:10,440
Speaker 4: Well, I think he did more than just the auctionism.

788
00:38:10,480 --> 00:38:13,360
Speaker 4: I mean he you know, we've had this amazing trend

789
00:38:13,440 --> 00:38:15,319
Speaker 4: in the industry and I've wrote I've written about all

790
00:38:15,320 --> 00:38:17,520
Speaker 4: of this in sports car market because when these business

791
00:38:17,520 --> 00:38:19,520
Speaker 4: transactions happened, they called me to write about it. But

792
00:38:19,560 --> 00:38:24,080
Speaker 4: we had you know, RM merged with Sotheby's, right, that

793
00:38:24,160 --> 00:38:26,040
Speaker 4: was a long time ago, but that was a big deal,

794
00:38:26,080 --> 00:38:28,680
Speaker 4: Hannah right when that happened. Like Rob Myers called me

795
00:38:28,719 --> 00:38:30,480
Speaker 4: when it happened and said, oh my god, like what,

796
00:38:30,800 --> 00:38:32,719
Speaker 4: I can't believe this, Like this is a big deal.

797
00:38:33,160 --> 00:38:36,600
Speaker 4: Then you had bring a trailer get bought by Hurst

798
00:38:36,719 --> 00:38:41,640
Speaker 4: in the middle of the pandemic. Then you've had Gooding

799
00:38:42,200 --> 00:38:45,680
Speaker 4: which had got bought by Christie's, which just happened David

800
00:38:45,680 --> 00:38:48,840
Speaker 4: Gooding sold part of his business. And then you've had

801
00:38:48,920 --> 00:38:52,200
Speaker 4: these other transactions that have occurred where Haggarty threw u spack

802
00:38:52,360 --> 00:38:57,040
Speaker 4: went public. So these businesses that support what once was

803
00:38:57,040 --> 00:39:00,719
Speaker 4: a hobby now is a competitive industry, are now real

804
00:39:00,800 --> 00:39:04,680
Speaker 4: businesses with cash flows with public shareholders and and Mkhiel

805
00:39:05,640 --> 00:39:10,880
Speaker 4: did something very pioneering in taking Haggarty public and and

806
00:39:10,960 --> 00:39:12,960
Speaker 4: I think there's some you know, board members on the

807
00:39:13,160 --> 00:39:16,040
Speaker 4: on Haggarty that that were very fluent in all of

808
00:39:16,080 --> 00:39:20,160
Speaker 4: this and helped him do that. But you know, they're buying.

809
00:39:20,200 --> 00:39:23,319
Speaker 4: They've bought all these car shows, They've got the broad Arrow,

810
00:39:23,880 --> 00:39:28,560
Speaker 4: they've got publications. They obviously have their core insurance business.

811
00:39:29,040 --> 00:39:31,040
Speaker 4: And I think they've stumbled, you know, here and there.

812
00:39:31,080 --> 00:39:33,600
Speaker 4: They've had stumbles, and that's to be expected. They're trying

813
00:39:33,640 --> 00:39:36,600
Speaker 4: to do so much. But it's fascinating I think the

814
00:39:36,640 --> 00:39:41,399
Speaker 4: way business and publicly traded enterprises are being built out

815
00:39:41,400 --> 00:39:44,799
Speaker 4: of these types of businesses. I mean even Doug Demurrow, right,

816
00:39:44,920 --> 00:39:51,000
Speaker 4: even Doug's websites and YouTube channels have become wildly popular,

817
00:39:51,880 --> 00:39:53,280
Speaker 4: and he has an auction site.

818
00:39:53,280 --> 00:39:56,520
Speaker 3: Now, yeah, well he sold it, right, I mean there yet.

819
00:39:58,040 --> 00:39:59,719
Speaker 2: I will say I thought it was very interesting. I

820
00:39:59,760 --> 00:40:02,920
Speaker 2: was a the wind Concore and it was probably the

821
00:40:02,960 --> 00:40:06,160
Speaker 2: first automotive event I've been to in a year that

822
00:40:06,239 --> 00:40:09,719
Speaker 2: there was no Haggarty signage, no Haggardy sponsorship. I mean,

823
00:40:09,760 --> 00:40:13,319
Speaker 2: the win obviously doesn't need Haggerty. They're they're very, very

824
00:40:13,360 --> 00:40:16,960
Speaker 2: polished and it was a great show. But it was

825
00:40:17,080 --> 00:40:21,880
Speaker 2: interesting that Haggerty wasn't there. There was no auction. Yeah,

826
00:40:21,920 --> 00:40:23,080
Speaker 2: so really fascinating.

827
00:40:23,200 --> 00:40:25,560
Speaker 4: Wait were you there for your chauffeur school.

828
00:40:26,080 --> 00:40:30,160
Speaker 2: Oh I am a bona fide Rolls Royce white Glove chauffeur,

829
00:40:30,200 --> 00:40:31,839
Speaker 2: and I've got the white Glove to prove it.

830
00:40:32,280 --> 00:40:35,080
Speaker 4: I love it. Did you go to the Sphere?

831
00:40:35,920 --> 00:40:38,799
Speaker 2: I have not the sphere right now exactly, and we

832
00:40:38,800 --> 00:40:40,200
Speaker 2: should all get on a plane and go there.

833
00:40:40,239 --> 00:40:43,040
Speaker 4: I saw I saw you two open the Sphere last fall,

834
00:40:43,120 --> 00:40:45,319
Speaker 4: and I went to actually Friday and Saturday night.

835
00:40:45,400 --> 00:40:49,319
Speaker 3: I must I haven't seen the Sphere or been there,

836
00:40:49,320 --> 00:40:52,239
Speaker 3: but Hannah and I were talking about this because, at

837
00:40:52,320 --> 00:40:54,640
Speaker 3: least in my opinion, the Eagles is a band I

838
00:40:54,640 --> 00:40:56,239
Speaker 3: want to see. I mean, do it?

839
00:40:56,600 --> 00:40:58,120
Speaker 4: What is your the Sphere?

840
00:40:58,840 --> 00:41:00,400
Speaker 1: I feel like there's a.

841
00:41:00,400 --> 00:41:02,279
Speaker 3: Place for like you two makes more sense for this.

842
00:41:02,360 --> 00:41:05,520
Speaker 3: Fear the Dead makes sense for this Fear the Eagles

843
00:41:05,600 --> 00:41:08,320
Speaker 3: is just about you know, Don Henley, Like I don't

844
00:41:08,600 --> 00:41:09,080
Speaker 3: need to.

845
00:41:09,280 --> 00:41:12,879
Speaker 4: I think anything in the Sphere is extraordinary. I think

846
00:41:12,920 --> 00:41:14,319
Speaker 4: I can't be im gonna say this, but I think

847
00:41:14,400 --> 00:41:19,480
Speaker 4: Jimmy Dolan has revolutionized live entertainment. It is incredible experience.

848
00:41:19,760 --> 00:41:22,520
Speaker 4: There were people next to me taking dramamine. I mean

849
00:41:22,560 --> 00:41:24,239
Speaker 4: it was really incredible.

850
00:41:24,400 --> 00:41:25,600
Speaker 3: Yeah, I've heard that as well.

851
00:41:26,000 --> 00:41:28,320
Speaker 1: I would like to go. I haven't. I haven't been yet.

852
00:41:28,400 --> 00:41:30,919
Speaker 2: But I also kind of want to go to Dita

853
00:41:30,960 --> 00:41:33,600
Speaker 2: Vontisa's show in Vegas, and I didn't go. I'm going

854
00:41:33,640 --> 00:41:35,160
Speaker 2: to be back in a few weeks for Formula one,

855
00:41:35,200 --> 00:41:35,920
Speaker 2: so maybe.

856
00:41:35,719 --> 00:41:37,640
Speaker 3: But maybe you're gonna tell us about the show first

857
00:41:37,680 --> 00:41:39,279
Speaker 3: School or is that save for another time?

858
00:41:39,400 --> 00:41:40,640
Speaker 4: Did you write a story on it?

859
00:41:40,719 --> 00:41:43,399
Speaker 2: Yes, the story's filed, but maybe we can talk about

860
00:41:43,400 --> 00:41:44,120
Speaker 2: it when it publishes.

861
00:41:44,160 --> 00:41:47,680
Speaker 3: All right, I want I have uh wait, I had

862
00:41:47,680 --> 00:41:48,359
Speaker 3: one more question.

863
00:41:48,440 --> 00:41:50,720
Speaker 1: What was I going to ask something about the Eagles?

864
00:41:51,000 --> 00:41:57,480
Speaker 4: No? Don Henley, No, No, it's completely slipped my mind.

865
00:41:57,560 --> 00:42:00,759
Speaker 4: The AMC Pacer. Do you like the pace? I think

866
00:42:00,800 --> 00:42:02,560
Speaker 4: it was ahead of his time, and I think Portia

867
00:42:02,640 --> 00:42:06,040
Speaker 4: actually copied it to make the nine twenty eight. Really,

868
00:42:06,120 --> 00:42:09,880
Speaker 4: I think there's some there's some lineage there that's a

869
00:42:09,880 --> 00:42:10,399
Speaker 4: little bit.

870
00:42:10,320 --> 00:42:12,360
Speaker 3: So that seems like I feel like you're dissing the

871
00:42:12,440 --> 00:42:13,160
Speaker 3: nine twenty eight.

872
00:42:13,280 --> 00:42:15,120
Speaker 4: No, I had a GTS. I loved it, one of

873
00:42:15,200 --> 00:42:16,160
Speaker 4: my favorite cars ever.

874
00:42:16,320 --> 00:42:19,600
Speaker 3: Dude, risky business when he has the GRS is another level.

875
00:42:19,640 --> 00:42:23,680
Speaker 4: Though. The final year car was supercar, beautiful vehicle.

876
00:42:23,640 --> 00:42:26,440
Speaker 3: Well awesome. I really appreciate you coming in coming up

877
00:42:26,440 --> 00:42:28,319
Speaker 3: from Florida for this. I hope to see you in

878
00:42:28,360 --> 00:42:29,040
Speaker 3: Bedford soon.

879
00:42:29,239 --> 00:42:32,200
Speaker 4: Yes, we'll take the packard and well the packards in Florida.

880
00:42:32,200 --> 00:42:33,680
Speaker 4: We'll take the G eighty seven for a bus.

881
00:42:33,800 --> 00:42:35,400
Speaker 3: Yeah, I'd love to, because you just take it for

882
00:42:35,400 --> 00:42:37,319
Speaker 3: a weekend. I'd spent a lot of time driving the

883
00:42:37,360 --> 00:42:41,399
Speaker 3: old the last generation M two, great car, and that

884
00:42:41,560 --> 00:42:45,439
Speaker 3: to me is it felt super analog. It felt so light,

885
00:42:46,400 --> 00:42:50,480
Speaker 3: it was so tactile, and the feedback was amazing, and

886
00:42:50,520 --> 00:42:53,080
Speaker 3: my pulse was pounding, you know, and I was driving it.

887
00:42:53,120 --> 00:42:55,280
Speaker 4: So this I'll be interested to see if they've kept that.

888
00:42:55,400 --> 00:42:57,399
Speaker 4: I don't think they have as much, and that's why

889
00:42:57,440 --> 00:42:59,480
Speaker 4: those cars are seeing such a premium in the market.

890
00:42:59,800 --> 00:43:02,520
Speaker 4: And everything I've read says the automatic in that car.

891
00:43:02,560 --> 00:43:04,719
Speaker 4: I think it's a nine speed is a way better

892
00:43:04,760 --> 00:43:08,000
Speaker 4: transmission than the six speed manual. But I just couldn't

893
00:43:08,080 --> 00:43:09,879
Speaker 4: do it. Oh, it doesn't even matter do that.

894
00:43:10,040 --> 00:43:12,080
Speaker 3: But why do you You don't care about track like

895
00:43:12,200 --> 00:43:13,160
Speaker 3: lap times? Right, you know?

896
00:43:13,280 --> 00:43:16,400
Speaker 4: And I just the thought of like having a the

897
00:43:16,440 --> 00:43:20,320
Speaker 4: option of having a three pedal car in twenty twenty four, Like, yeah,

898
00:43:20,400 --> 00:43:22,360
Speaker 4: you can't check. You can't not check that box.

899
00:43:22,400 --> 00:43:23,480
Speaker 3: No, I agree one hundred percent.

900
00:43:23,640 --> 00:43:25,160
Speaker 1: Yeah, CO sign on that.

901
00:43:25,440 --> 00:43:26,640
Speaker 4: Yeah sure, I.

902
00:43:26,880 --> 00:43:30,879
Speaker 3: The best color. I love you got the gray Brooklyn Gray.

903
00:43:31,160 --> 00:43:33,919
Speaker 4: I love that unavailable next year in the twenty twenty fives,

904
00:43:33,920 --> 00:43:34,520
Speaker 4: by way.

905
00:43:34,400 --> 00:43:37,000
Speaker 3: But I go on the configurator a lot and I

906
00:43:37,040 --> 00:43:38,560
Speaker 3: try and figure out which what I'm gonna get, and

907
00:43:38,600 --> 00:43:41,439
Speaker 3: I can never really decide because I also love their red,

908
00:43:41,480 --> 00:43:43,000
Speaker 3: but I don't want a red car, right.

909
00:43:43,080 --> 00:43:45,239
Speaker 4: The red's cool, though, it's not like a flashy show

910
00:43:45,280 --> 00:43:46,120
Speaker 4: me red blue.

911
00:43:46,200 --> 00:43:50,040
Speaker 3: The launch edition blue was hot, hot hot, and uh

912
00:43:50,320 --> 00:43:52,480
Speaker 3: yeah that's a I think a high quality.

913
00:43:52,440 --> 00:43:54,240
Speaker 4: That car is the great thing about it. It doesn't

914
00:43:54,280 --> 00:43:57,200
Speaker 4: have that giant Weber gaping grill that you can you know,

915
00:43:57,239 --> 00:44:00,000
Speaker 4: cook barbecue the rabbits too. It's a very small, noise,

916
00:44:00,000 --> 00:44:02,600
Speaker 4: normal grill. It's the last of I think that. I

917
00:44:02,600 --> 00:44:04,440
Speaker 4: don't think they're going to build a car like that. Again.

918
00:44:04,880 --> 00:44:08,440
Speaker 3: BMW instant constantly is bringing out cars that everyone hates

919
00:44:08,560 --> 00:44:11,399
Speaker 3: initially and they love a year later everyone has them.

920
00:44:11,480 --> 00:44:15,000
Speaker 4: Yeah, that's that's forward leaning design. Yes, that's what it takes.

921
00:44:15,040 --> 00:44:16,719
Speaker 4: That's what Bruno Saco did. Yes.

922
00:44:16,800 --> 00:44:18,160
Speaker 1: And I don't even hate that grill.

923
00:44:18,560 --> 00:44:19,759
Speaker 4: No, no, I love it now.

924
00:44:19,760 --> 00:44:21,520
Speaker 3: But when it first came out, I remember looking at

925
00:44:21,520 --> 00:44:23,719
Speaker 3: the M three and thinking, man, I'd rather have just

926
00:44:23,800 --> 00:44:26,200
Speaker 3: the M three forty or whatever because it doesn't have

927
00:44:26,239 --> 00:44:26,600
Speaker 3: that grill.

928
00:44:26,640 --> 00:44:29,160
Speaker 4: And now I love that grill. Yeah, it's all grown

929
00:44:29,200 --> 00:44:29,520
Speaker 4: on us.

930
00:44:29,520 --> 00:44:33,680
Speaker 3: But I can't forgive Chris Begle. That's an era. I

931
00:44:33,719 --> 00:44:34,600
Speaker 3: will never That was.

932
00:44:34,600 --> 00:44:36,240
Speaker 1: A tangle butt is not your button.

933
00:44:36,280 --> 00:44:39,400
Speaker 4: No, you know. I actually had a very interesting email

934
00:44:39,440 --> 00:44:42,680
Speaker 4: dialogue with Chris Bangle. He's actually emailable if you google

935
00:44:42,719 --> 00:44:46,200
Speaker 4: his website. He has a private design firm, and I

936
00:44:46,239 --> 00:44:47,440
Speaker 4: was going to try to get him to come to

937
00:44:47,480 --> 00:44:50,560
Speaker 4: the Turtle as a design on a panel, and he

938
00:44:50,680 --> 00:44:53,080
Speaker 4: was really friendly. Emailed me back. I made a dialogue.

939
00:44:53,080 --> 00:44:56,000
Speaker 4: But you're right, like, those cars did not stand the

940
00:44:56,040 --> 00:44:58,200
Speaker 4: test of time. Yeah, they just haven't.

941
00:44:58,280 --> 00:45:00,960
Speaker 3: No, they don't look good anymore. No, and they didn't.

942
00:45:01,000 --> 00:45:03,240
Speaker 4: I don't think when the time about the sixth series

943
00:45:03,719 --> 00:45:05,480
Speaker 4: was okay, the convertible.

944
00:45:05,120 --> 00:45:08,640
Speaker 3: M six, yeah, but not compared to, in my opinion,

945
00:45:08,719 --> 00:45:11,920
Speaker 3: the six thirty five from the eighties. Nineties is just

946
00:45:12,080 --> 00:45:16,319
Speaker 3: like Paul and that car absolute classic, and that's one

947
00:45:16,360 --> 00:45:20,120
Speaker 3: of those cars. What's the list that Haggardy publishes, like

948
00:45:20,160 --> 00:45:23,160
Speaker 3: their bullets, the bull List. I feel like that is

949
00:45:23,160 --> 00:45:24,839
Speaker 3: a car that could be on there every year because

950
00:45:24,840 --> 00:45:30,280
Speaker 3: that's underappreciated and it's got to become a highly valued

951
00:45:30,280 --> 00:45:34,000
Speaker 3: car later later on. Dude, I appreciate it so much.

952
00:45:34,120 --> 00:45:35,399
Speaker 3: Thank you so much for coming in.

953
00:45:35,760 --> 00:45:39,200
Speaker 4: Thank you, Hannah, thank you, thank you truly. Look for

954
00:45:39,480 --> 00:45:40,239
Speaker 4: seeing you soon.

955
00:45:40,440 --> 00:45:42,120
Speaker 1: Come west, Come west.

956
00:45:41,840 --> 00:45:45,040
Speaker 4: I do frequently, please do Okay, thanks.

957
00:45:50,480 --> 00:45:53,120
Speaker 3: I remembered what I want to ask, and I think.

958
00:45:52,960 --> 00:45:54,320
Speaker 4: It's a good question for Philip.

959
00:45:54,360 --> 00:45:56,280
Speaker 3: Okay, I think it's a good question for Philip.

960
00:45:56,360 --> 00:45:57,799
Speaker 4: I was in the elevator, but I'm back.

961
00:45:58,600 --> 00:46:00,640
Speaker 3: I remembered what I wanted to ask, and it is

962
00:46:01,320 --> 00:46:07,480
Speaker 3: your profession, which is you know, finance, right, investment management,

963
00:46:07,600 --> 00:46:13,400
Speaker 3: investment management, and your sport which is car collecting.

964
00:46:13,520 --> 00:46:13,680
Speaker 4: Right.

965
00:46:13,960 --> 00:46:17,600
Speaker 3: They sometimes dovetail, although we rarely talk about it on

966
00:46:18,040 --> 00:46:21,640
Speaker 3: you know, my Markets show. I remember when you mentioned

967
00:46:21,640 --> 00:46:23,799
Speaker 3: the GTO and this is what brought brought it to

968
00:46:23,840 --> 00:46:26,719
Speaker 3: my mind. The drummer for Pink Floyd, Nick Mason, he

969
00:46:26,760 --> 00:46:28,720
Speaker 3: has a GTO, has a gCO and a big collection,

970
00:46:28,800 --> 00:46:32,120
Speaker 3: and in fact they started a fund that the public

971
00:46:32,160 --> 00:46:37,080
Speaker 3: could buy into. And I met somebody at what's the

972
00:46:37,120 --> 00:46:39,840
Speaker 3: Hampton's the bridge, the bridge, right. I met somebody at

973
00:46:39,880 --> 00:46:41,560
Speaker 3: the bridge who had an F forty and he was

974
00:46:41,560 --> 00:46:42,400
Speaker 3: trying to do the same thing.

975
00:46:42,520 --> 00:46:44,600
Speaker 4: They had rally Road, which was an early pioneer, and

976
00:46:44,800 --> 00:46:48,759
Speaker 4: I loved rally Road twelve.

977
00:46:48,800 --> 00:46:50,520
Speaker 3: And I have no idea what happened to my account,

978
00:46:50,560 --> 00:46:51,359
Speaker 3: But you.

979
00:46:51,080 --> 00:46:53,200
Speaker 4: Know, it's like you still own that, right blinker.

980
00:46:53,400 --> 00:46:58,440
Speaker 3: Right, So, but do you think that there could be

981
00:46:58,480 --> 00:47:01,640
Speaker 3: a fund or an ETF for example, that collects cars

982
00:47:01,680 --> 00:47:04,200
Speaker 3: and it could be successful or is there some barrier

983
00:47:04,280 --> 00:47:06,360
Speaker 3: to making that happen on a regular basis because I

984
00:47:06,360 --> 00:47:07,080
Speaker 3: never really see it.

985
00:47:07,160 --> 00:47:09,480
Speaker 4: Well, I can tell you if somebody came up with

986
00:47:09,520 --> 00:47:13,120
Speaker 4: this idea, you know, ten years ago and bought up

987
00:47:13,239 --> 00:47:15,160
Speaker 4: a lot of these ferraris, whether it was you know,

988
00:47:15,360 --> 00:47:18,879
Speaker 4: F forty's or two eight h GTOs or even two

989
00:47:18,920 --> 00:47:23,759
Speaker 4: fifty short wheelbases, the multiplier on those vehicles has been

990
00:47:23,880 --> 00:47:26,560
Speaker 4: venture capital. Like some of these cars twenty years ago

991
00:47:26,600 --> 00:47:29,239
Speaker 4: were trading for one two hundred thousand dollars, they're now

992
00:47:29,320 --> 00:47:32,640
Speaker 4: multi multi multimillion dollar cars. I don't know if we're

993
00:47:32,640 --> 00:47:36,520
Speaker 4: going to have that kind of growth unless inflation really

994
00:47:36,560 --> 00:47:39,840
Speaker 4: takes off, which is possible where these assets will reprice

995
00:47:39,880 --> 00:47:45,400
Speaker 4: as real assets into a declining value of paper currency.

996
00:47:45,560 --> 00:47:48,040
Speaker 4: You know. I think there's a place for it, for sure,

997
00:47:49,480 --> 00:47:51,399
Speaker 4: depends on who runs it and how they think about

998
00:47:51,480 --> 00:47:53,680
Speaker 4: in the quality of the asset bases and what they're

999
00:47:53,719 --> 00:47:55,879
Speaker 4: buying and how good they are. It's you know, bird

1000
00:47:55,920 --> 00:47:59,120
Speaker 4: dogging out which cars are going up in value. Again, though,

1001
00:47:59,120 --> 00:48:02,480
Speaker 4: I tend to feel like this, this sport is about passion,

1002
00:48:03,320 --> 00:48:06,080
Speaker 4: and you know, a lot of those GTO owners they

1003
00:48:06,200 --> 00:48:09,520
Speaker 4: do drives together, you know, through Italy and through different

1004
00:48:09,560 --> 00:48:12,040
Speaker 4: parts of the world. They ship the cars globally and

1005
00:48:12,040 --> 00:48:16,840
Speaker 4: have fun together owning a piece of a car. You know.

1006
00:48:17,440 --> 00:48:20,399
Speaker 4: I don't know, but I'm warm on it, to be honest,

1007
00:48:21,120 --> 00:48:22,200
Speaker 4: I'm lukewarm on it.

1008
00:48:22,160 --> 00:48:24,759
Speaker 3: Right because I'm just thinking, doesn't anyone ever come to

1009
00:48:24,840 --> 00:48:29,799
Speaker 3: Hollowbrook and say, hey, you do investment management for me,

1010
00:48:30,000 --> 00:48:32,200
Speaker 3: and you know a lot about cars, why don't we

1011
00:48:32,239 --> 00:48:35,319
Speaker 3: start a car collection together? That's an investment.

1012
00:48:35,760 --> 00:48:40,759
Speaker 4: Yeah. I've been approached by several pretty sophisticated people GT

1013
00:48:40,920 --> 00:48:43,799
Speaker 4: Motor Cars, Jarra Mantea is doing that right now, and

1014
00:48:43,840 --> 00:48:46,839
Speaker 4: he's in the beginning Nason stages of that. And yeah,

1015
00:48:46,880 --> 00:48:50,480
Speaker 4: it's a good idea, and we help clients manage disposition,

1016
00:48:50,560 --> 00:48:54,040
Speaker 4: you know, selling collections, buying collections. We advise them on

1017
00:48:54,320 --> 00:48:58,200
Speaker 4: taxis and how to handle that. But it might be

1018
00:48:58,280 --> 00:49:01,960
Speaker 4: more of a my negativity this, Matt might be more

1019
00:49:02,080 --> 00:49:04,880
Speaker 4: of a valuation issue, because I feel like the collector

1020
00:49:04,920 --> 00:49:07,640
Speaker 4: car market is fully valued right now. It's sort of

1021
00:49:07,680 --> 00:49:10,880
Speaker 4: like imagine the S and P. Right if the SMP

1022
00:49:11,080 --> 00:49:13,879
Speaker 4: was trading at twelve times earnings, none of us would

1023
00:49:13,880 --> 00:49:16,840
Speaker 4: have cash in our accounts at all. We'd be fully invested.

1024
00:49:17,360 --> 00:49:21,360
Speaker 4: But here at like twenty four times earnings, it feels

1025
00:49:21,560 --> 00:49:25,040
Speaker 4: toppy and full, right. So maybe if there's a big

1026
00:49:25,080 --> 00:49:27,799
Speaker 4: correction and you can buy that F forty for a

1027
00:49:27,840 --> 00:49:32,120
Speaker 4: million five instead of four million or three million, fund

1028
00:49:32,200 --> 00:49:33,000
Speaker 4: might be interesting.

1029
00:49:33,760 --> 00:49:33,960
Speaker 3: You know.

1030
00:49:34,040 --> 00:49:37,600
Speaker 2: I will say there are guys who co own cars.

1031
00:49:37,680 --> 00:49:39,960
Speaker 2: It's just not as formal as what you're describing. But

1032
00:49:40,000 --> 00:49:43,520
Speaker 2: I know plenty of people in LA who share ownership

1033
00:49:43,560 --> 00:49:45,160
Speaker 2: of a car that they plan to own for a

1034
00:49:45,200 --> 00:49:47,560
Speaker 2: while and then sell and split the profits.

1035
00:49:48,200 --> 00:49:52,560
Speaker 3: It just seems to me that it's it's always something

1036
00:49:52,560 --> 00:49:55,759
Speaker 3: I hear about people doing. And let's say the private markets, right,

1037
00:49:56,040 --> 00:49:59,320
Speaker 3: and now is a time when private markets have become

1038
00:49:59,360 --> 00:50:01,800
Speaker 3: so in vogue. Everybody wants in on private markets. And

1039
00:50:01,880 --> 00:50:03,480
Speaker 3: in fact, a lot of companies aren't going to go

1040
00:50:03,520 --> 00:50:06,360
Speaker 3: public because they're doing better and they can be traded

1041
00:50:06,400 --> 00:50:07,360
Speaker 3: in a private market.

1042
00:50:07,719 --> 00:50:10,440
Speaker 4: Yeah, and they don't have to do SEC filings every

1043
00:50:10,520 --> 00:50:12,880
Speaker 4: quarter to deal with analysts and have quarterly calls and

1044
00:50:12,920 --> 00:50:13,520
Speaker 4: all exactly.

1045
00:50:13,560 --> 00:50:15,600
Speaker 3: But I know there's some there must be some reason

1046
00:50:15,680 --> 00:50:18,880
Speaker 3: why we don't have ETFs that are car collections. And

1047
00:50:18,960 --> 00:50:21,520
Speaker 3: I know rally Road was a fun idea, but it

1048
00:50:21,560 --> 00:50:23,000
Speaker 3: didn't really take off.

1049
00:50:23,040 --> 00:50:25,520
Speaker 4: It didn't. But but an ETF is an interesting concept

1050
00:50:25,560 --> 00:50:30,080
Speaker 4: because what bring a trailer has done, it's brought unbelievable

1051
00:50:30,120 --> 00:50:32,759
Speaker 4: liquidity into the market. And when you look at the

1052
00:50:32,800 --> 00:50:35,680
Speaker 4: scatter plots, if you like put in you know, let's

1053
00:50:35,680 --> 00:50:39,680
Speaker 4: say oud R eight six speed manual, and you can

1054
00:50:39,719 --> 00:50:42,000
Speaker 4: look at the scatter plot of what they've traded through,

1055
00:50:42,200 --> 00:50:45,480
Speaker 4: love that you have a an incredible It's it's no

1056
00:50:45,600 --> 00:50:48,120
Speaker 4: different than looking at a stock on Bloomberg and what

1057
00:50:48,160 --> 00:50:52,040
Speaker 4: it's traded at historically. So why couldn't there be an ETF.

1058
00:50:52,160 --> 00:50:54,080
Speaker 4: It's a good point. I mean, I'm not against it,

1059
00:50:54,120 --> 00:50:55,920
Speaker 4: I just just you.

1060
00:50:55,880 --> 00:50:58,160
Speaker 3: Know, well, no, there has to be a reason why

1061
00:50:58,160 --> 00:50:59,759
Speaker 3: no one does it, otherwise someone would have done it

1062
00:50:59,760 --> 00:51:00,359
Speaker 3: ten years ago.

1063
00:51:00,440 --> 00:51:03,480
Speaker 4: Yeah, there's been a lot of attempts at funds and

1064
00:51:03,520 --> 00:51:06,320
Speaker 4: some have been launched and some probably have been successful,

1065
00:51:07,560 --> 00:51:11,239
Speaker 4: but it's probably not that scalable. I mean, you do

1066
00:51:11,280 --> 00:51:13,520
Speaker 4: have high expense ratios because you've got to store the cars.

1067
00:51:13,800 --> 00:51:15,200
Speaker 3: Scalability, that's the issue.

1068
00:51:15,280 --> 00:51:16,759
Speaker 4: Insure the cars, right.

1069
00:51:16,920 --> 00:51:20,440
Speaker 3: Every few years, somebody will launch a fund, a car

1070
00:51:20,440 --> 00:51:23,239
Speaker 3: fund or a wine fund or an art fund, and

1071
00:51:23,280 --> 00:51:25,480
Speaker 3: we'll have that person on Bloomberg Business Week and we'll

1072
00:51:25,480 --> 00:51:26,960
Speaker 3: talk to them about it on the radio. And it's

1073
00:51:26,960 --> 00:51:29,080
Speaker 3: so fun to do for a segment, but it never

1074
00:51:29,120 --> 00:51:30,960
Speaker 3: takes off enough that it makes it to like.

1075
00:51:30,920 --> 00:51:32,160
Speaker 4: The mainstream financial news.

1076
00:51:32,200 --> 00:51:35,760
Speaker 3: And yeah, yeah, excellent. I'm glad I remembered that final

1077
00:51:35,840 --> 00:51:38,640
Speaker 3: question because that was a really good question. Well, it's

1078
00:51:38,640 --> 00:51:41,520
Speaker 3: something that I sort of come up come up against

1079
00:51:41,560 --> 00:51:44,960
Speaker 3: every couple of years. Someone always has a fund that

1080
00:51:45,000 --> 00:51:46,839
Speaker 3: he wants to launch and he wants to talk about

1081
00:51:46,880 --> 00:51:48,840
Speaker 3: on the show, and I'm into it, you know, but

1082
00:51:48,920 --> 00:51:50,000
Speaker 3: it just never picks up.

1083
00:51:50,640 --> 00:51:52,680
Speaker 2: Yeah, it's kind of one of those things where it's

1084
00:51:52,680 --> 00:51:54,840
Speaker 2: it's it is like a good idea in theory, but

1085
00:51:54,920 --> 00:51:59,800
Speaker 2: then somehow it doesn't translate, and I just keep thinking, actually,

1086
00:52:00,000 --> 00:52:03,040
Speaker 2: people do kind of want to drive or at least sit.

1087
00:52:02,960 --> 00:52:04,840
Speaker 4: In totally car totally.

1088
00:52:04,880 --> 00:52:08,160
Speaker 3: That's why I think rally Road I don't think it

1089
00:52:08,200 --> 00:52:10,600
Speaker 3: really took off. I know, it's still a viable business,

1090
00:52:10,600 --> 00:52:14,160
Speaker 3: and they've gone into other kind of things, so you

1091
00:52:14,200 --> 00:52:16,960
Speaker 3: can own I guess part of watches exactly, or like

1092
00:52:17,040 --> 00:52:21,360
Speaker 3: Michael Jordan's nikes from whatever, you know. But I wonder

1093
00:52:21,400 --> 00:52:24,880
Speaker 3: what the most valuable car collection in the world is, Like,

1094
00:52:25,040 --> 00:52:28,600
Speaker 3: is Jay Leno's car collection worth more than any other?

1095
00:52:28,880 --> 00:52:32,640
Speaker 3: Or is Ralph Lauren's car collection worth more than those guys?

1096
00:52:32,800 --> 00:52:33,920
Speaker 1: I'd be so curious.

1097
00:52:34,040 --> 00:52:37,360
Speaker 3: They must see it in some respects as an investment, right.

1098
00:52:37,600 --> 00:52:40,960
Speaker 2: For sure, But think of all the people in Asia

1099
00:52:41,000 --> 00:52:42,520
Speaker 2: and the Middle East that have.

1100
00:52:42,760 --> 00:52:45,280
Speaker 3: Hundreds Oh true, the Saltan of BRUNEI.

1101
00:52:44,920 --> 00:52:48,320
Speaker 2: Completely like those guys are and those are so low key.

1102
00:52:48,480 --> 00:52:52,640
Speaker 1: I mean, I would be very surprised if.

1103
00:52:52,480 --> 00:52:56,239
Speaker 2: Someone in like China or the Middle East didn't have

1104
00:52:56,280 --> 00:52:59,200
Speaker 2: a really really expensive China like meaning.

1105
00:52:59,000 --> 00:53:02,440
Speaker 3: Hong Kong, and they're not inviting Millbowski little and yeah, they're.

1106
00:53:02,280 --> 00:53:05,080
Speaker 2: Not inviting the YouTubers to come over and like shoot

1107
00:53:05,120 --> 00:53:05,640
Speaker 2: their cars.

1108
00:53:05,880 --> 00:53:09,600
Speaker 3: I bet you Shmie is sometimes sneaking into some sound.

1109
00:53:10,160 --> 00:53:11,960
Speaker 1: Well, if anyone could do it, he could do it.

1110
00:53:13,480 --> 00:53:15,200
Speaker 4: All right. That does it for us this week.

1111
00:53:15,680 --> 00:53:17,680
Speaker 3: Join us, same time, same place next week.

1112
00:53:17,719 --> 00:53:20,440
Speaker 2: I'm Matt Miller and I'm Hannah Elliott and this is

1113
00:53:20,480 --> 00:53:21,000
Speaker 2: Bloomberg