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Speaker 1: Bloomberg Audio Studios, podcasts, radio news.

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Speaker 2: I'm Hannah Elliott and I'm Matt Miller.

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Speaker 3: This is Hot Pursuit coming up on today's podcast.

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Speaker 1: Almost a billion dollars of auctions in one month. Some

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Speaker 1: of the world's most important car collectors rubdevils in Scottsdale

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Speaker 1: and kissing me. They're going to be going to Paris,

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Speaker 1: bidding on and buying the most sought after cars in

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Speaker 1: the world. Multimillion dollar power broker Steve Cirio is here

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Speaker 1: to talk about the white hot auction market. Steve, you're

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Speaker 1: here with us in New York City. Took the train

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Speaker 1: down from Did you drive your Roma?

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Speaker 2: No?

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Speaker 4: I didn't drive from the two feet of tow with Aroma,

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Speaker 4: and I didn't even take the g Wagon, which would

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Speaker 4: have been would have been sensible. I took the old

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Speaker 4: fashioned train and a subway to get air met.

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Speaker 1: I feel like you're Hannah's friend, but I'm glad that

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Speaker 1: you're hanging out with me.

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Speaker 4: Well, I may see Hannah a little more, Matt, but

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Speaker 4: I love hanging out with you. Come on, we should

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Speaker 4: do this more regularly.

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Speaker 3: We should. We should.

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Speaker 1: In fact, listeners have said that they love the episodes

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Speaker 1: that you're on.

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Speaker 4: I was very kind, so we're glad to get you.

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Speaker 1: Hannah and I are both driving the Aston Martin dbx

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Speaker 1: S and Hannah, you spent time what driving the new Vantage?

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Speaker 5: Yes, so yesterday I had kind of the most amazing

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Speaker 5: drive up in the hills out past Malibu, out past

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Speaker 5: Point Magoo if you know where that is on PCH

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Speaker 5: driving the.

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Speaker 2: Vantage s coop.

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Speaker 5: This is the twenty twenty six model six hundred and

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Speaker 5: seventy horse power twin turbob eight starting price of one

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Speaker 5: hundred and ninety six thousand, and yeah, that was fun.

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Speaker 5: I can't talk about driving impressions yet, but I can

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Speaker 5: talk in general about it well.

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Speaker 1: And we talk about this with Steve, because you had

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Speaker 1: an Aston Martin dealership for a while. Tell us about

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Speaker 1: your history with the brand.

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Speaker 4: Steve, it out in eighty seven without the manufacturers, okay,

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Speaker 4: because there were very few dealers in the United States.

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Speaker 4: And my first love and my first passion for buying, selling,

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Speaker 4: collecting restoring cars was Aston Martin and I beg, borrowed

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Speaker 4: and stole until I became a franchise dealer in ninety

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Speaker 4: six when they brought the dB seven here and I

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Speaker 4: did it through twenty twenty and lived through what I

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Speaker 4: like to refer to as like that really golden sweet

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Speaker 4: period when Aston Martin had just launched the V eight,

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Speaker 4: they had dB nine, Vanquisher was coming out, and it

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Speaker 4: was really I got lucky. I mean, you can't time

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Speaker 4: any of this in life. And I really thought that

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Speaker 4: was a perfect period to be selling Astens because people

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Speaker 4: would pay list, they would they would wait for cars.

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Speaker 4: It was a wonderful niche business. Love the brand, don't

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Speaker 4: love I've said this before, never loved their management and

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Speaker 4: never loved you know, the direction they went into in

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Speaker 4: sort of the upper teens. But that's that's why I'm

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Speaker 4: not doing it anymore.

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Speaker 6: Well, and it's new management. It's different management now, right,

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Speaker 6: it's different management again. I actually have an interview Laurence

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Speaker 6: Stroll on Bloomberg Television next week. But Hannah, you can't

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Speaker 6: try talk about your driving impressions of the new Vantage.

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Speaker 3: I will say that when Steve.

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Speaker 1: When you were in the heart of your career in

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Speaker 1: twenty ten twenty eleven, I got to drive the Vantage

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Speaker 1: GT a couple times. And remember they did the sort

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Speaker 1: of a special edition with a sweet livery and a

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Speaker 1: bump and horsepower, and I have always thought ever since

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Speaker 1: then that it was one of the best driver's cars

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Speaker 1: I've ever been in. The steering was so I could

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Speaker 1: feel every pebble on the street. I could tell right

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Speaker 1: before I would lose grip, like it was before the

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Speaker 1: introduction of electronics steering that Porsche brought in the nine

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Speaker 1: to eleven. And I always thought it was such a

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Speaker 1: perfect car.

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Speaker 4: Yeah, it was an analog thing, it was. There were

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Speaker 4: not a lot of driver aids in it, and they,

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Speaker 4: you know, Aston kind of went right at the nine

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Speaker 4: to eleven, you know, for the competition on that car,

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Speaker 4: and it was a fantastic ride. I mean that that

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Speaker 4: original you know V eight advantage, the newer version, not

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Speaker 4: the eighties version, the newer car that you're speaking of,

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Speaker 4: was really a pleasure to have. I mean it, it

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Speaker 4: was everything you said it is, Matt. You knew when

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Speaker 4: you were going to break away, you knew the you

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Speaker 4: knew what your limits were in with the car. Limits

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Speaker 4: were very, very easily and god, when I think at

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Speaker 4: one point I might have had twenty five or thirty

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Speaker 4: of those cars in stock. When we launched Aston Martin

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Speaker 4: really made a push to get into a higher volume

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Speaker 4: and the cars didn't sit around. I mean we were

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Speaker 4: making them in every color possible, really great. You know,

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Speaker 4: the derivatives of special models we had, you know, the

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Speaker 4: Nerbiggering model, we had, the spit Fire model we had.

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Speaker 4: You know, there was all kinds of different things and

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Speaker 4: it was it was a joy. It was a fun

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Speaker 4: two seat car.

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Speaker 5: Steve, I'm curious in this era that you're describing what

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Speaker 5: type of person was buying the Vantage and what were

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Speaker 5: they cross shopping at against.

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Speaker 4: Well, where they were cross shopping against nine to eleven

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Speaker 4: or they were cross shopping against Cayman. You know, that

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Speaker 4: was generally the thing. You'd occasionally get an sl guy

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Speaker 4: come in, but not not really. And there were there

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Speaker 4: were so fewer choices fifteen years ago buying cars. I mean,

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Speaker 4: now you've got so many things from you know, pick One, Accura, Audi.

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Speaker 4: You know, certainly Bentley maybe they were they were. We

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Speaker 4: never really competed with Bentley or Rolls Royce. It was

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Speaker 4: just a different animal. And Aston used to sit in

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Speaker 4: its weird own. It was on its own island because

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Speaker 4: you know, they really stuck with a manual transmission car

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Speaker 4: for a long time and that kept a lot of

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Speaker 4: buyers in that brand, you know, and then eventually, you know,

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Speaker 4: it was phased out in ninety percent of the cars.

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Speaker 4: And I think I said on this podcast before more

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Speaker 4: than half of my delivered cars were manual transmission, and

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Speaker 4: about three quarters of them were the hard top. They

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Speaker 4: weren't the Valanta. They were a coop and I was,

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Speaker 4: you know, anomaly in the marketplace. Along with the dealer

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Speaker 4: in Chicago, we sold a lot of manual transmission coups

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Speaker 4: and it was just wonderful. But back to your question,

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Speaker 4: you kind of people went shopping for and asked in Martin.

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Speaker 2: Because they were like it was an event.

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Speaker 4: Yes, it was still a rare thing. It was still

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Speaker 4: a special Yeah, it was. It was like going you

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Speaker 4: know and buying a very special watch. You know, once

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Speaker 4: you knew what you wanted, you honed in on it

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Speaker 4: and there wasn't really a lot of competition, which was fun.

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Speaker 4: That was the fun. You know, it goes back to

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Speaker 4: the fun years of doing it.

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Speaker 1: I have to think it still is pretty special. I

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Speaker 1: mean there is We both have driven the Vanquish, for example,

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Speaker 1: Hannah and Steve. I don't know if you've been able

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Speaker 1: to get behind the wheel but that's still is a

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Speaker 1: twelve cylinder. Okay, it doesn't have a stick, but it's

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Speaker 1: I think more beautiful than any Ferrari on the market.

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Speaker 4: Now.

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Speaker 3: The thing is they have been dogged.

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Speaker 1: By quality issues. They always have been dogged by quality issues,

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Speaker 1: but let's face it, Italian car makers have as well,

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Speaker 1: and the prices are just out of this world, like

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Speaker 1: even compared to a Ferrari. They're charging half million dollars

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Speaker 1: for an Aston Martin, and Hannah always says like, wouldn't

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Speaker 1: you rather buy a Ferrari. I think I would rather

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Speaker 1: buy and Aston Martin because the Ferraris are ugly and

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Speaker 1: now they're be six is. But I still think it's

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Speaker 1: crazy that I would pay more for, you know, a

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Speaker 1: Vanquish than I don't know, a twelve cylindery.

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Speaker 4: Yeah, I mean I again preaching a little bit to

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Speaker 4: the choir, because the last car that I held on

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Speaker 4: to from Aston Martin, and Hannah knows this was the

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Speaker 4: Zagato shooting brake that they only brought a handful of

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Speaker 4: to North America and it was a absolute blast to drive.

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Speaker 4: And that goes back to the twelve cylinder, you know,

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Speaker 4: normally aspirated that you talk about Matt. I mean it was.

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Speaker 4: It was just a fantastic car, and now it's so dated.

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Speaker 4: I mean I think it. I think it was banging

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Speaker 4: off of because it was a twenty twenty model year car,

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Speaker 4: so it was about six hundred horse power. I think

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Speaker 4: it was about five hundred and ninety five or something.

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Speaker 4: And it was ridiculously useless in many ways because it

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Speaker 4: was a two seat shooting brake and you couldn't really

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Speaker 4: put anything in the back. Yeah, I mean, it's a

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Speaker 4: very silly car. But it was so much fun to drive,

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Speaker 4: So I get it. I get I get what you're

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Speaker 4: parking for, but you know that was it wasn't a

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Speaker 4: manual either, so.

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Speaker 5: Well, and to ask, I would say in general, these cars,

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Speaker 5: if whether you're talking about Vanquish or Advantage and even DBX,

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Speaker 5: they answer the question of what can I get that's

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Speaker 5: a little bit different, that's going to stand out. And

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Speaker 5: especially we've talked about this before, we are in very

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Speaker 5: weird bubbles. I'm in Beverly Hills every day. You guys

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Speaker 5: are in Boston and New York City, and you do

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Speaker 5: tend to see a lot of the same cars. Aston

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Speaker 5: you don't see as much and of course they're gorgeous

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Speaker 5: and they do stand out. So you know, it answers

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Speaker 5: that question if I want to stand out, consider the

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Speaker 5: Aston Well.

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Speaker 4: That's I mean, we management one One of the things

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Speaker 4: one of the old directors used to say that, you know,

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Speaker 4: the people that own Aston Martin's where their labels on

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Speaker 4: the inside, And that was that's really really something that

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Speaker 4: worked for Boston because Boston is not a Rolls Royce town.

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Speaker 4: That's sort of a Bentley town. It's not really a

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Speaker 4: Lamborghini town. So you know, the less flashy you are,

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Speaker 4: unlike Beverly Hills in Miami to some degree Greenwich. That

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Speaker 4: that's really why it was such a wonderful place to

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Speaker 4: have that dealership.

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Speaker 5: Why can I ask, real quick quick, you haven't mentioned

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Speaker 5: BMW at all when you're talking about competitors. Is BMW

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Speaker 5: not a Boston consideration?

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Speaker 1: He was going alphabetic.

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Speaker 3: And he was about to get get in there.

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Speaker 2: We're getting there.

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Speaker 4: What No, We used to take a lot of BMW

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Speaker 4: trades and eight series cars, six series cars and BMW

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Speaker 4: during those years did not make you know, sixty five

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Speaker 4: derivatives of fundamentally the same thing. They they never I

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Speaker 4: think BMW lost the plot sports car wise after the

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Speaker 4: Z eight uh, and then they tried to come back

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Speaker 4: with the I eight, and I think we maybe took

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Speaker 4: two or three of those on trade. But there was

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Speaker 4: something very It's that Teutonic uh Germanic, very cold, and

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Speaker 4: if it doesn't appeal to you, then you know, while

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Speaker 4: you're in something with you know, yards of leather and

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Speaker 4: wool carpet and you know maybe sort of the occasional

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Speaker 4: you know, oak trim in the car, whatever the wood

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Speaker 4: was some world walnut something walnut, but different buyer, different

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Speaker 4: buyer completely. I think you know, you find people going

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Speaker 4: from Mercedes to auDA to BMW and then maybe Porsia

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Speaker 4: because Porsia doesn't fit in those three groups either. So

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Speaker 4: I think we ran up against Porsia and many many times.

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Speaker 4: You know, the Cayman was a more it was equally

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Speaker 4: and more capable in some regard, and it was half

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Speaker 4: the price. So somebody said they were going to go

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Speaker 4: drive a Cayman and they were reaching for a vantage.

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Speaker 4: Then we would just go, all right, well, it was

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Speaker 4: lovely chatting with that guy. He might come back to probably.

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Speaker 1: Know the vantage V eight. I mean, they could get

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Speaker 1: probably a couple of years old for the same price

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Speaker 1: as a new Caman, right, and then you have the

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Speaker 1: It was initially four point three and then became a

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Speaker 1: four point seven lead V eight and it was still

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Speaker 1: an amazing.

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Speaker 4: Car, one wonderful aston When they first came out with

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Speaker 4: the Vantage, the goal was to make it under high

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Speaker 4: nder Grant and they they almost got there. From memory,

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Speaker 4: I think kind of a basic car was sort of

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Speaker 4: one eighteen one nineteen when they first came out. Then

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Speaker 4: they brought out that the Special Series where was you know,

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Speaker 4: the car was just without you know, it was stripped

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Speaker 4: down if you will, you know, much like you'd think

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Speaker 4: of a nine to eleven T today, and that got

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Speaker 4: under you know, one hundred grand for a very short

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Speaker 4: period smart By. Yeah, that was that was wonderful. But

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Speaker 4: you know then then then they couldn't stay there.

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Speaker 3: I mean, Portia is still.

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Speaker 1: I think it's a great case study because my neighbor

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Speaker 1: Hannah Eric you know, yes, he just got Cayenne GTS

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Speaker 1: Oh cool, and it is I think a benchmark SUV. Right,

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Speaker 1: we both were driving the DBX, so I had spent

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Speaker 1: a couple of weeks in his in his Cayenne. Admittedly

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Speaker 1: in the passenger seat. But I can see the quality

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Speaker 1: with which that car has been executed. It's obviously incredibly capable.

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Speaker 1: It's the same four I think it's a four liter

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Speaker 1: twin turbo, which is the Aston is also a four

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Speaker 1: liter twin turbo, although the Kayan GTS only has probably

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Speaker 1: five hundred fifty horse power, whereas the the DBX that

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Speaker 1: we're driving has seven hundred and seventeen horse power. But

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Speaker 1: the Cayenne, and that's not the turbos version, right, which

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Speaker 1: is obviously more powerful. The Cayenne though, is one thirty

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Speaker 1: and when you option it up one fifty, whereas the

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Speaker 1: DBX that we're driving, it is more special. Obviously you

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Speaker 1: don't see them as much as you see Cayennes.

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Speaker 2: And as the performance figures are.

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Speaker 1: The performance figures are on a level higher. But if

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Speaker 1: you're a suburban dad or mom, and you're looking at

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Speaker 1: these two things and one of them, like the Aston

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Speaker 1: base price is two sixty two and the one I

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Speaker 1: drove with options was four to twenty two, four hundred

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Speaker 1: twenty two thousand dollars for a grocery getter for mom,

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Speaker 1: Like that's.

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Speaker 5: I love how it looks, and I really dislike how

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Speaker 5: the Cayenne looks, so I can honestly say, I don't

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Speaker 5: think I, even if I could afford anything in this realm,

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Speaker 5: I would not buy a Cayenne simply. It's a great driving,

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Speaker 5: as you me, but I just don't like how it

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Speaker 5: looks at all. I would much prefer the DBX.

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Speaker 4: My wife has a cayenees and I don't like the

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Speaker 4: architecture inside, and I don't like sitting in it. It's

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Speaker 4: there's something about it that's uncomfortable for me. I don't

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Speaker 4: mind the outside. I think at this point it's sort

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Speaker 4: of pedestrian, certainly compared to the DBX or anything else

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Speaker 4: in that in that price range.

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Speaker 1: I mean the DBX that I don't know what color.

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Speaker 1: Yours was Hannah, but the one I had was white.

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Speaker 2: Mine was podium green.

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Speaker 3: That's great, and it was so.

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Speaker 5: Good in the interior had like this yellow piping on it.

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Speaker 2: It looked really really good.

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Speaker 3: Good.

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Speaker 1: I like it. Yeah, So I got the one in

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Speaker 1: which they put every single option, including thirty thousand dollars

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Speaker 1: of exterior carbon fiber, twenty two thousand dollars of wheels.

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Speaker 1: The stereo upgrade was fourteen thousand dollars. I found myself

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Speaker 1: questioning what the base stereo saanda I.

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Speaker 2: Had lime colored brake calipers.

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Speaker 3: Well, that's awesome, but mine was white.

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Speaker 1: So I took a couple of guys out for burgers

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Speaker 1: one Saturday night and and they were like, I can't

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Speaker 1: distinguish this from a Hyundai because it's this white jelly bean.

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Speaker 1: That's a problem.

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Speaker 5: And I do tend to like white cars, but maybe

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Speaker 5: not the best choice for an SUV, because at the

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Speaker 5: end of the day, this is an suv.

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Speaker 1: I will say that it snowed like hell here in

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Speaker 1: New York, as you may have read, and I got

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Speaker 1: through it without a problem in this DBX, Like I

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Speaker 1: was stunned that I was driving around and you know,

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Speaker 1: handling it just as easily as the dude next to

303
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Speaker 1: me in a silverado Z seventy one. Like it was

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Speaker 1: so capable in the snow. And we don't get this

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Speaker 1: kind of you know, storm every year, but if you do,

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Speaker 1: you're fine in a DVX on all seasons. They weren't

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Speaker 1: even snow tires, And it was great fun.

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Speaker 3: You know.

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Speaker 1: We took it out one day to when the snow

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Speaker 1: first came down to do donuts in the parking lots

311
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Speaker 1: and I had complete and utter control. At no point

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Speaker 1: did I feel like it was There was no clinch moment,

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Speaker 1: there was no no fear, you know, it was just

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Speaker 1: it handled everything perfectly well. So I was really impressed

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Speaker 1: with that.

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Speaker 4: And I imagine that was on some sort of performance tire.

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Speaker 4: So there was no winter tire on your car.

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Speaker 1: No, but it was an all season tire. But it's

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Speaker 1: on twenty threes right, magnesium wheels. I just thought it

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Speaker 1: was pretty pretty impressive that this four hundred and twenty

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Speaker 1: two thousand dollars vehicle had no problem dealing with We

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Speaker 1: got twenty four inches of snow.

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Speaker 5: So jealous, I'm so jealous of you guys. It looked magically.

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Speaker 5: I wish I could have tested mine in those same conditions.

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Speaker 5: Let's take a break. We're talking with Steves. More with

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Speaker 5: him after this.

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Speaker 2: Welcome back to Hot Pursuit.

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Speaker 5: We are talking with Steve Serio, the million dollar power

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Speaker 5: broker and our friend of the show. Steve is Boston

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Speaker 5: based former Aston Martin of New England owner, but now

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Speaker 5: has really cut a swath through the industry brokering sales

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Speaker 5: of extremely high end classic cars, and we do mean

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Speaker 5: the highest of the high end, primarily Porsche's, Aston's Ferrari Steve.

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Speaker 2: Is that accurate?

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Speaker 4: Yeah, today it is. I have to I have to

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Speaker 4: be a little bit of a moving target, yeah, or

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Speaker 4: I'll go broke. So I have to be malleable to

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Speaker 4: the marketplace.

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Speaker 3: That's true.

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Speaker 1: He got lake Bell the nineteen seventy nine Camaros at

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Speaker 1: twenty eight right, yoh, I did.

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Speaker 4: That's true. Not everything we do is multimillion dollars in

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Speaker 4: that case, not even tens of thousands of dollars.

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Speaker 2: And that took some do Yeah, I think.

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Speaker 4: No, good deed, Hannah.

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Speaker 5: Yes, yes, all that to say, you're the perfect guy

347
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Speaker 5: to talk to you, because we all saw the news

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Speaker 5: about this thirty eight and change million dollar Bianco Speciale

349
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Speaker 5: Forrari Gto that sold that Meek them sold a couple

350
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Speaker 5: of weeks ago, nineteen sixty to one of what is

351
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Speaker 5: it thirty six.

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Speaker 4: GTOs Series one that you have thirty six?

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Speaker 2: Yes, So can you talk to us about this car?

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Speaker 2: Why did it get that amount?

355
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Speaker 5: And actually we do kind of know that was probably

356
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Speaker 5: well bought potentially, Can you just give us a lay

357
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Speaker 5: of the land on what happened there?

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Speaker 4: Well, I think I think you know, there's a lot

359
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Speaker 4: of there's always a lot of chatter when the GTO

360
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Speaker 4: comes up about what it's worth, what it's worth, who's

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Speaker 4: going to buy it? You know, it's it's always a

362
00:18:49,320 --> 00:18:52,320
Speaker 4: close to the vest and everybody talks in hush tones,

363
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Speaker 4: and the fact of the matter what that car is.

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00:18:54,160 --> 00:18:56,440
Speaker 4: It was for sale for you know, the better half

365
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Speaker 4: of two years, didn't find any buyers privately, and it

366
00:19:01,280 --> 00:19:04,920
Speaker 4: you know, started off in the mid fifties. And I

367
00:19:05,000 --> 00:19:07,800
Speaker 4: think the broad stroke here and something to go back

368
00:19:07,840 --> 00:19:12,399
Speaker 4: to is where the money was really spent that day

369
00:19:12,600 --> 00:19:15,000
Speaker 4: it was sold for what it was worth. It's in

370
00:19:14,600 --> 00:19:18,520
Speaker 4: the lower third. If you could break GTOs into three

371
00:19:18,520 --> 00:19:21,720
Speaker 4: categories of twelve, twelve and twelve, you do have a

372
00:19:21,760 --> 00:19:27,320
Speaker 4: pecking order of importance, condition, desirability. It was a right

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Speaker 4: hand drive car, which doesn't suit a lot of markets.

374
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Speaker 4: It was not the original engine, it was white, and

375
00:19:34,560 --> 00:19:38,240
Speaker 4: most people associate red with that car. So you take

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Speaker 4: like a perfect storm of just wasn't the best And

377
00:19:43,880 --> 00:19:46,920
Speaker 4: to criticize the GTO is absolutely ridiculous because it is,

378
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Speaker 4: you know, at the top of the food chain in

379
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Speaker 4: the collector car world.

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Speaker 1: It is literally the holy grail, right Am I wrong

381
00:19:51,920 --> 00:19:52,360
Speaker 1: about that?

382
00:19:52,640 --> 00:19:55,560
Speaker 4: It's one of the holy grails. The Mercedes has different

383
00:19:55,600 --> 00:20:00,040
Speaker 4: holy grails, Portia has different holy grails, but in the

384
00:20:00,080 --> 00:20:02,520
Speaker 4: blue Chip, yeah, it's it's certainly blue chip along with

385
00:20:02,560 --> 00:20:06,119
Speaker 4: the same era, you know, two fifty tr You know.

386
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Speaker 1: I mean if you if you're if you own a GTO,

387
00:20:09,320 --> 00:20:11,879
Speaker 1: people know like you're famous. Nick Mason from Pink Floyd

388
00:20:11,880 --> 00:20:14,399
Speaker 1: has a GTO, Ralph Lauren has a GTO, Laurence Stroll

389
00:20:14,480 --> 00:20:18,000
Speaker 1: has a GTO, And I don't know who owns like

390
00:20:18,400 --> 00:20:20,800
Speaker 1: a gall Wing and probably all those guys too, But

391
00:20:21,119 --> 00:20:22,800
Speaker 1: you know what I mean, Like it's if you're a

392
00:20:22,840 --> 00:20:26,359
Speaker 1: car collector, that solidifies your statu at the club.

393
00:20:26,520 --> 00:20:29,080
Speaker 4: Well, yeah, if you're a Ferrari collector. I think Stroll

394
00:20:29,119 --> 00:20:31,119
Speaker 4: sold his, by the way, not to be pandemted, but

395
00:20:31,800 --> 00:20:34,240
Speaker 4: just his is gone. And Nick Mason paid fifty thousand

396
00:20:34,240 --> 00:20:36,520
Speaker 4: dollars for his. He's had it so long and people

397
00:20:36,520 --> 00:20:39,000
Speaker 4: thought he was crazy when he bought it. Ralph's car

398
00:20:39,040 --> 00:20:41,800
Speaker 4: was an interesting story because that car was actually stolen

399
00:20:41,800 --> 00:20:43,879
Speaker 4: at one point from Alan to Cadney and when he

400
00:20:43,920 --> 00:20:46,400
Speaker 4: bought it for five thousand dollars and the fellow who

401
00:20:46,440 --> 00:20:48,560
Speaker 4: sold it to Ralph stole it from Allan. But these

402
00:20:48,560 --> 00:20:49,520
Speaker 4: are little sidebars.

403
00:20:50,560 --> 00:20:52,080
Speaker 2: We could talk offline about that.

404
00:20:52,760 --> 00:20:55,200
Speaker 4: Not a lot of people that that is a very

405
00:20:55,200 --> 00:20:57,040
Speaker 4: good story. Remind me about the.

406
00:20:57,200 --> 00:20:58,160
Speaker 2: Let me buy a drink later?

407
00:20:58,560 --> 00:21:01,600
Speaker 4: Why it sounded like a swarmer bumblebees. That's the thing

408
00:21:01,600 --> 00:21:05,760
Speaker 4: you need to know about Alan's story. But it Yeah,

409
00:21:05,760 --> 00:21:07,800
Speaker 4: it's the top of the food chain. And I think

410
00:21:07,840 --> 00:21:11,120
Speaker 4: everybody was expecting these cars to go up, but that market,

411
00:21:11,200 --> 00:21:14,720
Speaker 4: that era of car has taken a hit and everything

412
00:21:14,760 --> 00:21:17,919
Speaker 4: from that period has come down. Now. You know, did

413
00:21:17,960 --> 00:21:20,240
Speaker 4: a handful of these cars, like three or four of

414
00:21:20,280 --> 00:21:22,359
Speaker 4: them sell with a number that started with a six?

415
00:21:22,720 --> 00:21:26,960
Speaker 4: Sure they did, and they were really desirable examples. I mean,

416
00:21:27,600 --> 00:21:30,959
Speaker 4: Brandon Wang still owns his black car, which is wholly original.

417
00:21:32,520 --> 00:21:35,720
Speaker 4: And there was a couple New York base that had

418
00:21:35,720 --> 00:21:39,640
Speaker 4: a car. They bought it when the car was essentially

419
00:21:39,680 --> 00:21:42,080
Speaker 4: just a used car for six or seven thousand dollars

420
00:21:42,440 --> 00:21:45,159
Speaker 4: and that car traded hands about two years ago with

421
00:21:45,240 --> 00:21:47,160
Speaker 4: a number that started with a six. And I won't

422
00:21:47,160 --> 00:21:48,720
Speaker 4: say who bought it because I don't think well, I

423
00:21:48,760 --> 00:21:52,119
Speaker 4: suppose it is public information. But there were these survivor

424
00:21:52,200 --> 00:21:55,840
Speaker 4: cars with phenomenal histories that everything on them was original.

425
00:21:55,920 --> 00:21:58,600
Speaker 4: In many cases the paint was original, and that brought

426
00:21:58,600 --> 00:22:02,000
Speaker 4: the cars to a a higher level this than this

427
00:22:02,119 --> 00:22:04,639
Speaker 4: white car. And again it was a little shelf worn

428
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Speaker 4: from you know.

429
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Speaker 2: Being two years being trotted around.

430
00:22:08,320 --> 00:22:10,439
Speaker 4: Yeah, I mean it was at Retromobile in a big stand.

431
00:22:10,560 --> 00:22:12,800
Speaker 4: You know, Simon Simon Kiston tried to sell the current

432
00:22:12,880 --> 00:22:15,520
Speaker 4: Simon is as connected in this world to high end

433
00:22:15,560 --> 00:22:18,399
Speaker 4: buyers as anybody. Yeah, and nobody was biting at fifty

434
00:22:18,400 --> 00:22:21,160
Speaker 4: five million dollars. And I know somebody took a run

435
00:22:21,200 --> 00:22:24,439
Speaker 4: at it in the forties and that number would have

436
00:22:24,440 --> 00:22:27,400
Speaker 4: been okay at the time, but that deal fell apart,

437
00:22:27,480 --> 00:22:29,879
Speaker 4: and so you know, it ends up with Dana Meekham.

438
00:22:29,960 --> 00:22:34,000
Speaker 4: And Dana is he's very savvy and he knows how

439
00:22:34,040 --> 00:22:38,560
Speaker 4: to get a halo car for promotion for his huge

440
00:22:38,560 --> 00:22:40,880
Speaker 4: ten day auction. You know, I mean that that car

441
00:22:40,960 --> 00:22:43,240
Speaker 4: brought a lot of eyes, much like the nine to

442
00:22:43,240 --> 00:22:47,840
Speaker 4: seventeen brought to him last year. Yes, exactly. Yes, So

443
00:22:47,880 --> 00:22:48,760
Speaker 4: you have Dana.

444
00:22:48,560 --> 00:22:50,480
Speaker 2: Who who's you know, a very smart guy.

445
00:22:50,680 --> 00:22:54,159
Speaker 4: Always he's a genius. And four hundred and forty million

446
00:22:54,240 --> 00:22:58,800
Speaker 4: dollars later starts off the season. You're talking about, you know,

447
00:22:58,920 --> 00:23:02,320
Speaker 4: the health of the market. Four hundred thousand, four one

448
00:23:02,400 --> 00:23:06,399
Speaker 4: hundred and forty million dollars in Florida in one auction,

449
00:23:06,720 --> 00:23:10,119
Speaker 4: two hundred million at Barrett Jackson shortly thereafter, effectively one

450
00:23:10,160 --> 00:23:12,720
Speaker 4: hundred million with RM last week, one hundred million with

451
00:23:12,840 --> 00:23:15,600
Speaker 4: RM this week. You know, you're looking at a billion

452
00:23:15,640 --> 00:23:20,280
Speaker 4: dollars in January of cars changing hands. But that's I

453
00:23:20,359 --> 00:23:25,120
Speaker 4: think what rocked the world for chatter is the paradigm

454
00:23:25,160 --> 00:23:29,080
Speaker 4: shift going on between the era of cars like the

455
00:23:29,119 --> 00:23:32,679
Speaker 4: gto so today gooding sale in Paris. There was a

456
00:23:32,720 --> 00:23:36,399
Speaker 4: failed sale for a long wheelbase California Spider. There was

457
00:23:36,440 --> 00:23:38,919
Speaker 4: a failed sale on a two to fifty short wheelbase.

458
00:23:39,560 --> 00:23:42,240
Speaker 2: They didn't sail, so they didn't meet reserve.

459
00:23:42,640 --> 00:23:45,040
Speaker 4: Neither of those cars sold again. The two fifty had

460
00:23:45,040 --> 00:23:48,120
Speaker 4: been on the market for some time. But you know

461
00:23:48,520 --> 00:23:53,080
Speaker 4: that that's they're coming down. They're not going up. RM

462
00:23:53,119 --> 00:23:55,280
Speaker 4: did a good job yesterday of selling a sixteen million

463
00:23:55,320 --> 00:23:59,639
Speaker 4: dollar for Ari cal Spider, a short chassis car. But

464
00:23:59,720 --> 00:24:02,760
Speaker 4: you know, for a period those were you couldn't even

465
00:24:02,800 --> 00:24:04,880
Speaker 4: think about buying one of those. The number didn't start

466
00:24:04,880 --> 00:24:05,320
Speaker 4: with the two.

467
00:24:05,480 --> 00:24:06,560
Speaker 1: That's the fairest Bueler car.

468
00:24:06,720 --> 00:24:11,320
Speaker 4: That is the firest Bueler car. So what's the shocking

469
00:24:11,600 --> 00:24:15,399
Speaker 4: there's a shift. Yeah. The other shocking thing is where

470
00:24:15,800 --> 00:24:18,480
Speaker 4: in a very short period of time two eighty eight

471
00:24:18,520 --> 00:24:24,200
Speaker 4: GTOs and especially enzos have gone, and there's some conjecture

472
00:24:24,320 --> 00:24:29,520
Speaker 4: about market manipulation with the enzos that I would look

473
00:24:29,560 --> 00:24:31,840
Speaker 4: into that, and I wouldn't. I wouldn't be surprised that

474
00:24:32,200 --> 00:24:35,639
Speaker 4: we say more. I mean, I've seen people do this

475
00:24:35,720 --> 00:24:38,040
Speaker 4: with years ago, with nine to eleven rss. I've seen

476
00:24:38,080 --> 00:24:41,080
Speaker 4: people do it with dB four gts. I've seen people

477
00:24:41,119 --> 00:24:44,560
Speaker 4: do it with acaces. And the simple thing is, for

478
00:24:44,600 --> 00:24:49,280
Speaker 4: a couple of years, you buy up a quantity of them,

479
00:24:49,600 --> 00:24:52,280
Speaker 4: say you buy between five and ten, and you're buying

480
00:24:52,359 --> 00:24:54,800
Speaker 4: them for X, and then you bring one to market

481
00:24:55,000 --> 00:24:56,919
Speaker 4: and you set a world record with it. So if

482
00:24:56,960 --> 00:24:59,280
Speaker 4: you were buying them at thirty percent of what they're

483
00:24:59,280 --> 00:25:02,360
Speaker 4: selling for now, isn't that kind of smart? And if

484
00:25:02,359 --> 00:25:07,719
Speaker 4: you happen to be you know, it's an unregulated business,

485
00:25:07,760 --> 00:25:11,000
Speaker 4: so it's easy to manipulate. And you're not talking about

486
00:25:11,080 --> 00:25:13,760
Speaker 4: you know, stocks where there are millions of shares, tens

487
00:25:13,760 --> 00:25:16,359
Speaker 4: of millions of shares. You're talking about a handful of

488
00:25:16,400 --> 00:25:19,639
Speaker 4: things that come on the market. And I'm not saying

489
00:25:19,640 --> 00:25:21,840
Speaker 4: this is true. I'm saying it's one of the theories

490
00:25:21,840 --> 00:25:24,400
Speaker 4: that has been that has been floated by me, especially

491
00:25:24,400 --> 00:25:27,280
Speaker 4: with the Enzos, that you know, if you're sitting on

492
00:25:27,320 --> 00:25:30,399
Speaker 4: a handful of these things and then you, you know,

493
00:25:30,520 --> 00:25:33,400
Speaker 4: help drive the price of one up publicly to the moon,

494
00:25:33,800 --> 00:25:35,359
Speaker 4: well all of the things you were sitting on that

495
00:25:35,359 --> 00:25:37,119
Speaker 4: you bought for a lot less are now worth the

496
00:25:37,160 --> 00:25:40,359
Speaker 4: moon as well. It's just it's just been common practice

497
00:25:40,359 --> 00:25:41,600
Speaker 4: in the thirty years, you know.

498
00:25:41,720 --> 00:25:43,960
Speaker 2: And this is not an illegal thing to say. It's

499
00:25:43,960 --> 00:25:46,000
Speaker 2: a risk, nonregulated. Yeah, it is a risk.

500
00:25:46,119 --> 00:25:49,520
Speaker 4: It's a risk. It may not work, you know, but

501
00:25:49,520 --> 00:25:52,399
Speaker 4: but over the you know, once that first Enzo sold

502
00:25:52,440 --> 00:25:55,680
Speaker 4: for eighteen odd million dollars and it was a real

503
00:25:55,760 --> 00:26:00,880
Speaker 4: sale to a real, you know, billionaire. Then Anzels weren't

504
00:26:00,920 --> 00:26:03,560
Speaker 4: five million dollar cars anymore. Most of them are now eight, nine, ten,

505
00:26:03,600 --> 00:26:06,320
Speaker 4: and eleven. But the one that did crazy money was

506
00:26:06,320 --> 00:26:07,960
Speaker 4: a special color, It had no miles, it was one

507
00:26:08,000 --> 00:26:09,919
Speaker 4: of the last ones made. It was part of that

508
00:26:09,960 --> 00:26:15,760
Speaker 4: whole Bachmann collection where I mean, I've talked to countless

509
00:26:15,760 --> 00:26:19,280
Speaker 4: people about how vulgar the color combinations were on the

510
00:26:19,320 --> 00:26:22,239
Speaker 4: cars in that collection, and they were just they were

511
00:26:22,400 --> 00:26:26,320
Speaker 4: spect by you know, a blind, homeless person, an house

512
00:26:26,359 --> 00:26:30,320
Speaker 4: person who'd never inspect a car before, but didn't matter because.

513
00:26:30,040 --> 00:26:33,480
Speaker 1: They were all isn't that better than a red over beige?

514
00:26:33,920 --> 00:26:37,920
Speaker 4: Well, you live with yellow, with green and yellow, the

515
00:26:38,040 --> 00:26:40,520
Speaker 4: whole combination of cars were yellow.

516
00:26:40,640 --> 00:26:41,080
Speaker 3: By the way.

517
00:26:42,119 --> 00:26:42,280
Speaker 5: You.

518
00:26:43,400 --> 00:26:45,840
Speaker 1: First of all, I have a question as a person

519
00:26:45,840 --> 00:26:47,960
Speaker 1: who doesn't know much about this market. So you and

520
00:26:48,000 --> 00:26:53,440
Speaker 1: Hannah obviously are experts here, but I never understand why

521
00:26:53,560 --> 00:26:56,160
Speaker 1: no miles on a forty to fifty sixty year old

522
00:26:56,160 --> 00:26:57,160
Speaker 1: car is a good thing?

523
00:26:57,520 --> 00:26:58,760
Speaker 3: Like is that not?

524
00:26:59,000 --> 00:27:00,920
Speaker 1: Doesn't everything break down if you don't drive it?

525
00:27:01,320 --> 00:27:04,000
Speaker 4: Yeah? The old line that a technician that worked for

526
00:27:04,040 --> 00:27:06,720
Speaker 4: me used to say, you're still aging when you're sleeping.

527
00:27:06,960 --> 00:27:10,440
Speaker 4: You're not moving around, but you're still aging. So these

528
00:27:10,480 --> 00:27:13,840
Speaker 4: cars when parked age and some of them age badly.

529
00:27:14,720 --> 00:27:17,640
Speaker 4: Now there's a way to keep a low mileage car

530
00:27:17,720 --> 00:27:20,280
Speaker 4: in perfectly good condition. I mean, you do have to

531
00:27:20,320 --> 00:27:22,399
Speaker 4: exercise it, or you don't exercise it at all, and

532
00:27:22,440 --> 00:27:24,520
Speaker 4: you drain everything out of it. You park it in

533
00:27:24,600 --> 00:27:27,720
Speaker 4: a you know, sort of bubble that that it doesn't

534
00:27:27,760 --> 00:27:31,199
Speaker 4: have any humidity and you know, temperature controlled and you

535
00:27:31,240 --> 00:27:35,080
Speaker 4: can control the condition of the car so it doesn't

536
00:27:35,119 --> 00:27:37,840
Speaker 4: break down that that's not impossible, So.

537
00:27:37,800 --> 00:27:38,480
Speaker 3: You're just keeping it.

538
00:27:38,480 --> 00:27:40,719
Speaker 1: Then is something to look at because I get that

539
00:27:40,800 --> 00:27:43,480
Speaker 1: the panel gaps don't change and the leather is unworn.

540
00:27:44,080 --> 00:27:46,560
Speaker 1: But it's not a car that's you're ever going to drive.

541
00:27:46,640 --> 00:27:48,400
Speaker 1: Then it's like a painting.

542
00:27:48,840 --> 00:27:51,200
Speaker 4: Yeah, you might as well collect butterflies. I mean I

543
00:27:51,280 --> 00:27:53,560
Speaker 4: used to say that all the time. Click coin stamps.

544
00:27:54,000 --> 00:27:57,840
Speaker 1: My other question is, so the GTO is a two

545
00:27:57,920 --> 00:28:00,600
Speaker 1: fifty gto that one talks about you. You just mentioned

546
00:28:00,640 --> 00:28:02,640
Speaker 1: to eighty eight. Now that's my kind of car. That's

547
00:28:02,680 --> 00:28:06,840
Speaker 1: the one I like. Well, and it's what six eighty

548
00:28:06,920 --> 00:28:10,480
Speaker 1: eighties car like, yeah, compared to compared to a sixties car.

549
00:28:10,960 --> 00:28:13,880
Speaker 1: So tell us about that. Well, that's what I would

550
00:28:13,960 --> 00:28:14,239
Speaker 1: like to have.

551
00:28:14,400 --> 00:28:16,399
Speaker 4: That's the age, that's the age shift. I mean, I

552
00:28:16,400 --> 00:28:19,080
Speaker 4: think the first one I had years ago, I took

553
00:28:19,119 --> 00:28:22,159
Speaker 4: in trade from David McNeil from weather Tech and he

554
00:28:22,320 --> 00:28:25,080
Speaker 4: was I think the car had thirty thousand kilometers on

555
00:28:25,119 --> 00:28:26,919
Speaker 4: it or something, and he was just getting into collecting.

556
00:28:26,960 --> 00:28:28,760
Speaker 4: You realize I want one with lower mileage, and he

557
00:28:28,840 --> 00:28:31,280
Speaker 4: bought one with you know, something a lot less.

558
00:28:31,520 --> 00:28:33,400
Speaker 1: He had two fifty Gto also, yes.

559
00:28:34,560 --> 00:28:37,600
Speaker 4: And that car was seven hundred thousand dollars. And I'm

560
00:28:37,640 --> 00:28:40,440
Speaker 4: going back a short period of time, like ten or

561
00:28:40,480 --> 00:28:45,719
Speaker 4: eleven years. That car one traded hands today with Gooding

562
00:28:45,840 --> 00:28:48,320
Speaker 4: and Chris Gooding Christie's that's the new name, because you

563
00:28:48,320 --> 00:28:51,000
Speaker 4: should say Gooding and Company, but David Gooding is now

564
00:28:51,000 --> 00:28:53,760
Speaker 4: aligned with Christie's as a partner. And they sold one

565
00:28:53,800 --> 00:28:56,000
Speaker 4: and a banged off of eleven million dollars. Now that

566
00:28:56,400 --> 00:28:58,959
Speaker 4: I sold one last spring for four and thought we

567
00:28:58,960 --> 00:29:02,400
Speaker 4: were doing okay wow, And in four and five and

568
00:29:02,440 --> 00:29:06,560
Speaker 4: six that that market was getting traction and it was

569
00:29:06,600 --> 00:29:10,240
Speaker 4: a slow burn up, but it jumped from you know,

570
00:29:10,320 --> 00:29:13,240
Speaker 4: it went from six to nine to ten to eleven

571
00:29:13,760 --> 00:29:16,720
Speaker 4: sort of overnight. So we're you know, I hate to

572
00:29:16,800 --> 00:29:18,880
Speaker 4: use that phrase again, but you know, there is a shift.

573
00:29:18,920 --> 00:29:20,880
Speaker 4: There is a paradigm shift going on, and it's a

574
00:29:20,920 --> 00:29:28,120
Speaker 4: combination of newer guys, younger guys collecting things that they

575
00:29:28,160 --> 00:29:30,200
Speaker 4: want from their youth, and they don't want the stuff

576
00:29:30,240 --> 00:29:31,360
Speaker 4: from the fifties and sixties.

577
00:29:31,400 --> 00:29:34,560
Speaker 1: To me, Gto is just like the best looking Ferrari

578
00:29:34,680 --> 00:29:35,280
Speaker 1: of all time.

579
00:29:35,960 --> 00:29:37,080
Speaker 3: I would even I.

580
00:29:37,040 --> 00:29:38,760
Speaker 1: Would be happy to take a three to eight that

581
00:29:38,840 --> 00:29:41,800
Speaker 1: has a two eighty eight body kit on it. You know,

582
00:29:42,320 --> 00:29:46,480
Speaker 1: I we had to settle for that thelar it's so beautiful,

583
00:29:46,560 --> 00:29:48,880
Speaker 1: and I would want it in red. Oh my goodness,

584
00:29:48,920 --> 00:29:49,800
Speaker 1: it's a good looking car.

585
00:29:49,960 --> 00:29:52,520
Speaker 4: Yeah. And you know it's very funny. I have a

586
00:29:52,560 --> 00:29:55,440
Speaker 4: friend that Hannah knows, a fellow by the name of

587
00:29:55,480 --> 00:29:58,600
Speaker 4: Andrew Hollows in England, and he's been trading cars forever,

588
00:29:58,680 --> 00:30:02,080
Speaker 4: and he was his folk. Was always on things like

589
00:30:02,240 --> 00:30:05,560
Speaker 4: rare Bugatti's eight C Alphas, I mean really the significant

590
00:30:05,640 --> 00:30:09,200
Speaker 4: cars he sold the bellow that refused to find a

591
00:30:09,200 --> 00:30:12,280
Speaker 4: new buyer today with Gooding's. He's been in it forever.

592
00:30:12,440 --> 00:30:17,680
Speaker 4: And when I first started dealing with Andrew, he used

593
00:30:17,720 --> 00:30:20,840
Speaker 4: to refer to two adyh gto f forty f fifty

594
00:30:20,960 --> 00:30:24,440
Speaker 4: en Zo La Ferrari as the footballer's wives cars in England.

595
00:30:24,840 --> 00:30:27,640
Speaker 4: And he'd say, oh, good the footballer's wives are driving

596
00:30:27,640 --> 00:30:30,320
Speaker 4: their husband's cars again, because you know who would want

597
00:30:30,360 --> 00:30:32,640
Speaker 4: one of those things? Blah blah blah blahlah. And it

598
00:30:32,720 --> 00:30:36,400
Speaker 4: was this disparaging comment that you bought those cars if

599
00:30:36,440 --> 00:30:38,920
Speaker 4: you had the money and you had no imagination and

600
00:30:39,000 --> 00:30:41,240
Speaker 4: you were an athlete. Well, who's laughing now?

601
00:30:41,320 --> 00:30:45,720
Speaker 1: They were the Lamborghinis Ferrari, Yeah, in bad colors.

602
00:30:46,040 --> 00:30:49,600
Speaker 4: So yeah, everybody is chasing those Halo Ferrari cars that

603
00:30:49,680 --> 00:30:54,240
Speaker 4: come out every ten years. And the really the market

604
00:30:54,440 --> 00:31:00,760
Speaker 4: accelerated shifting hard in the last year. And I go

605
00:31:00,920 --> 00:31:04,960
Speaker 4: back to about October twenty three, kind of starting in

606
00:31:05,000 --> 00:31:10,120
Speaker 4: the fourth quarter of twenty three, that the market you

607
00:31:10,160 --> 00:31:12,200
Speaker 4: could you could just feel it shifting.

608
00:31:12,440 --> 00:31:16,040
Speaker 2: And what what's pushing that? What's driving that? Why are

609
00:31:16,080 --> 00:31:17,680
Speaker 2: people putting their money here?

610
00:31:18,240 --> 00:31:22,160
Speaker 4: Well it's not. It's the new collectors. But I think

611
00:31:22,480 --> 00:31:27,160
Speaker 4: what started it? Then you had remember the well we

612
00:31:27,200 --> 00:31:29,040
Speaker 4: all remember COVID, and we all remember the run up

613
00:31:29,080 --> 00:31:32,760
Speaker 4: during COVID where people thought, you know, mortality is being

614
00:31:32,840 --> 00:31:34,840
Speaker 4: measured here, so let go out and buy a car,

615
00:31:34,920 --> 00:31:36,880
Speaker 4: and let me let me put a spike in the

616
00:31:36,880 --> 00:31:39,800
Speaker 4: car marketplace with a volume of cars sold in the

617
00:31:39,800 --> 00:31:42,520
Speaker 4: amount of money people were selling on you know, you know,

618
00:31:42,560 --> 00:31:45,800
Speaker 4: or buying cars what they were selling for. So all

619
00:31:45,840 --> 00:31:48,680
Speaker 4: of a sudden you had that, you had that lull

620
00:31:48,960 --> 00:31:52,640
Speaker 4: after the COVID run up that would slow things down. Uh,

621
00:31:52,800 --> 00:31:55,600
Speaker 4: And then you had simple fact that people it just

622
00:31:55,640 --> 00:31:58,080
Speaker 4: so came of age where people started to age out

623
00:31:58,480 --> 00:32:01,080
Speaker 4: and they they had enough stuff they bought over the

624
00:32:01,200 --> 00:32:05,880
Speaker 4: last twenty years or their whole lifetime of collecting, and

625
00:32:05,960 --> 00:32:12,240
Speaker 4: you could just feel the shift, and it's I'm going

626
00:32:12,280 --> 00:32:15,000
Speaker 4: through a collection of one hundred cars now and trying

627
00:32:15,040 --> 00:32:18,080
Speaker 4: to explain to somebody why they're not worth what they

628
00:32:18,080 --> 00:32:23,600
Speaker 4: were worth. And I sort of disparagingly said, you collected porridge.

629
00:32:24,440 --> 00:32:28,840
Speaker 4: You collected porridge. Yeah, you collected stuff that was common

630
00:32:28,840 --> 00:32:32,040
Speaker 4: as mud. And I don't mean it was bad because

631
00:32:32,160 --> 00:32:36,040
Speaker 4: there was a handful of Aston Martin's, a handful of Ferraris,

632
00:32:36,040 --> 00:32:40,280
Speaker 4: a handful of Porsches, it rolls voices, and nothing was

633
00:32:40,320 --> 00:32:43,400
Speaker 4: wrong with these cars at all. But none of them

634
00:32:43,680 --> 00:32:50,040
Speaker 4: were extremely special. They were rare in many cases they

635
00:32:50,120 --> 00:32:53,800
Speaker 4: but they were not you know, you could have instead

636
00:32:53,800 --> 00:32:55,520
Speaker 4: of having one hundred cars, you could have had a

637
00:32:55,520 --> 00:32:57,840
Speaker 4: C type of D type and Aston Martin dB three

638
00:32:58,040 --> 00:33:02,680
Speaker 4: s and Enzo A two eighty eight GTA, a Porsche

639
00:33:02,880 --> 00:33:05,880
Speaker 4: five point fifty. You could have owned countless other things

640
00:33:06,560 --> 00:33:10,760
Speaker 4: and spent your money more wisely. That didn't get affected

641
00:33:10,800 --> 00:33:13,320
Speaker 4: the way your run of the milk cars, which were

642
00:33:13,360 --> 00:33:16,400
Speaker 4: made in many cases in the hundreds. You know, once

643
00:33:16,400 --> 00:33:18,000
Speaker 4: you have one hundreds of something and they're from the

644
00:33:18,040 --> 00:33:21,600
Speaker 4: same era and the era shifts. It's no fault of

645
00:33:21,640 --> 00:33:24,680
Speaker 4: anybody's that your cars are worthless. It's just the market

646
00:33:24,720 --> 00:33:26,040
Speaker 4: has simply changed.

647
00:33:26,120 --> 00:33:28,240
Speaker 1: Well, you think my Duds Challenger won't be worth money,

648
00:33:29,000 --> 00:33:31,240
Speaker 1: it's twenty three, it's the last year. It's the last

649
00:33:31,280 --> 00:33:33,200
Speaker 1: year that they made the Challenger with the hemy in it.

650
00:33:33,800 --> 00:33:35,040
Speaker 1: I only made fifty thou.

651
00:33:35,960 --> 00:33:38,120
Speaker 4: I had that argument once with somebody who bought a

652
00:33:38,160 --> 00:33:40,560
Speaker 4: box and went, this is going to be a very

653
00:33:40,560 --> 00:33:43,920
Speaker 4: collectible Cara went the RS sixty versions. Sure, yeah, okay,

654
00:33:44,360 --> 00:33:46,880
Speaker 4: if you bought the prototype Cara that Grant Larsen did,

655
00:33:46,880 --> 00:33:47,720
Speaker 4: you would have had a.

656
00:33:49,000 --> 00:33:50,480
Speaker 1: Can I just point out and hand I want I

657
00:33:50,480 --> 00:33:53,240
Speaker 1: want to get your take on this as well. So

658
00:33:53,320 --> 00:33:57,840
Speaker 1: everybody's going crazy about the Meekam auction and the white

659
00:33:58,000 --> 00:34:01,280
Speaker 1: Gto that David Lee bought, So I don't the fact

660
00:34:01,280 --> 00:34:05,360
Speaker 1: that he's already a Ferrari collector that everyone knows maybe

661
00:34:05,360 --> 00:34:07,720
Speaker 1: blows my theory out of the water. But it happened

662
00:34:07,720 --> 00:34:10,919
Speaker 1: at the same time as Gold went shooting through five

663
00:34:10,960 --> 00:34:14,200
Speaker 1: thousand dollars. De Troy ounce and I've on my day job.

664
00:34:14,200 --> 00:34:17,280
Speaker 1: I talked to wealthy investors all day long in my program,

665
00:34:17,480 --> 00:34:21,560
Speaker 1: and they are all telling me, without exception, look, I'm

666
00:34:21,800 --> 00:34:24,960
Speaker 1: a little bit freaked out about how high the equity

667
00:34:25,000 --> 00:34:27,080
Speaker 1: market is and how tight spreads are, and I just

668
00:34:27,080 --> 00:34:29,919
Speaker 1: want to diversify. So they're looking at like open bank

669
00:34:29,920 --> 00:34:34,720
Speaker 1: accounts in different countries and buy different assets like gold,

670
00:34:35,160 --> 00:34:38,640
Speaker 1: because the dollar is falling to a four year low

671
00:34:38,920 --> 00:34:45,040
Speaker 1: and geopolitical craziness is happening at the same time where

672
00:34:45,040 --> 00:34:47,560
Speaker 1: American policy is totally unpredictable, Like, they just want to

673
00:34:47,600 --> 00:34:49,880
Speaker 1: get into as many different kind of assets as possible.

674
00:34:49,880 --> 00:34:52,200
Speaker 1: And I imagine, Okay, not David Lee, because he's this

675
00:34:52,320 --> 00:34:54,840
Speaker 1: is his thing, but I imagine other people are driving

676
00:34:54,880 --> 00:34:58,520
Speaker 1: these prices higher because you know, they're getting into and

677
00:34:58,560 --> 00:35:01,200
Speaker 1: they're like, oh, you know what, I want Portia nine

678
00:35:01,239 --> 00:35:03,480
Speaker 1: to eighteen in signal orange, and I'm willing to pay

679
00:35:03,680 --> 00:35:06,319
Speaker 1: six million dollars for it, even though it's probably a

680
00:35:06,320 --> 00:35:07,960
Speaker 1: three million dollar car.

681
00:35:08,440 --> 00:35:12,600
Speaker 4: Well, that particular car two billionaires fought over, and there

682
00:35:12,760 --> 00:35:15,040
Speaker 4: was a wallet fight. So you picked a very interesting

683
00:35:15,080 --> 00:35:17,040
Speaker 4: example of something because it was the only one and

684
00:35:17,120 --> 00:35:22,800
Speaker 4: they both loved the color orange. Okay, So if that's

685
00:35:22,840 --> 00:35:27,239
Speaker 4: the theory. That's always the run up to something. You're

686
00:35:27,239 --> 00:35:32,120
Speaker 4: going to see the hockey stick spike in the car

687
00:35:32,200 --> 00:35:35,920
Speaker 4: world again, because no matter how many times have you

688
00:35:35,960 --> 00:35:37,839
Speaker 4: seen this and people never believe it, we're in the

689
00:35:37,840 --> 00:35:40,279
Speaker 4: middle or when you're in the middle of it. This

690
00:35:40,360 --> 00:35:43,080
Speaker 4: cannot go on forever with a run up like that,

691
00:35:43,120 --> 00:35:44,800
Speaker 4: because at some point the music stops.

692
00:35:45,000 --> 00:35:47,239
Speaker 1: Hannah, what do you think you talked to wealthy collectors

693
00:35:47,280 --> 00:35:50,279
Speaker 1: all the time? Is anybody saying like I want to

694
00:35:50,320 --> 00:35:52,160
Speaker 1: diversify or No?

695
00:35:52,440 --> 00:35:56,040
Speaker 5: I mean no, but I would I would defer to

696
00:35:56,080 --> 00:35:59,239
Speaker 5: Steve on that he's talking to the truly high net

697
00:35:59,280 --> 00:36:01,160
Speaker 5: worth guys.

698
00:36:01,680 --> 00:36:04,200
Speaker 2: I mean, it seems to me that people.

699
00:36:04,239 --> 00:36:07,600
Speaker 5: Will always spend money on cars, and maybe they don't

700
00:36:07,600 --> 00:36:10,920
Speaker 5: spend money on certain cars for a certain period of time,

701
00:36:11,719 --> 00:36:13,359
Speaker 5: but if there's a car they really want and they've

702
00:36:13,360 --> 00:36:15,680
Speaker 5: got the money, and there's always money out there, well.

703
00:36:15,560 --> 00:36:18,640
Speaker 4: In worldwide, worldwide, we're still not talking about a lot

704
00:36:18,640 --> 00:36:21,480
Speaker 4: of people met unlike people are diversifying in assets in

705
00:36:21,520 --> 00:36:24,120
Speaker 4: your world. No, you're right, I think it's not there aren't.

706
00:36:24,280 --> 00:36:27,000
Speaker 4: You know, if there are a thousand people, if you

707
00:36:27,000 --> 00:36:30,120
Speaker 4: think of it that way, that can that can really

708
00:36:30,200 --> 00:36:34,000
Speaker 4: run a market up. It's not very many people. There's

709
00:36:34,040 --> 00:36:39,680
Speaker 4: certainly a thousand billionaires slash people worth you know, half

710
00:36:39,719 --> 00:36:42,120
Speaker 4: a billion dollars that all kind of look around and go,

711
00:36:42,160 --> 00:36:43,280
Speaker 4: what am I gonna do with my money?

712
00:36:43,520 --> 00:36:47,000
Speaker 1: I'm just thinking maybe people who aren't normally like not

713
00:36:47,160 --> 00:36:50,160
Speaker 1: the david Lees of this world, are also getting into

714
00:36:50,160 --> 00:36:54,239
Speaker 1: this market because maybe I'm maybe I'm well.

715
00:36:54,160 --> 00:36:55,120
Speaker 4: That happened. That happened.

716
00:36:55,120 --> 00:36:56,160
Speaker 2: There's always the last.

717
00:36:56,000 --> 00:36:58,080
Speaker 4: Run up, you know. It's it's the old joke about

718
00:36:58,120 --> 00:37:00,800
Speaker 4: when you're you know, your dentist starts giving you advice

719
00:37:00,840 --> 00:37:03,120
Speaker 4: on stocks, it's kind of time to get out of it.

720
00:37:03,160 --> 00:37:05,399
Speaker 1: The shoeshine boy, the shoeshine boy.

721
00:37:05,520 --> 00:37:07,839
Speaker 4: Yeah. Wait, well that's that same thing in the car world.

722
00:37:07,880 --> 00:37:10,080
Speaker 4: When it happened. I saw it happened in the eighties.

723
00:37:10,080 --> 00:37:13,239
Speaker 4: I saw it happen, you know, kind of in the

724
00:37:13,320 --> 00:37:16,200
Speaker 4: early oughts, and then it happened in fourteen where the

725
00:37:16,239 --> 00:37:22,400
Speaker 4: market peaked again. And weirdly, car markets are not unlike

726
00:37:22,640 --> 00:37:26,480
Speaker 4: financial markets, where there are six, seven and eight year

727
00:37:26,560 --> 00:37:30,520
Speaker 4: run ups and then things correct. Now do I wish

728
00:37:30,600 --> 00:37:35,160
Speaker 4: I'd bought a room full of nine eighteens and career

729
00:37:35,320 --> 00:37:39,080
Speaker 4: gts three or four or five years ago. Absolutely, but

730
00:37:39,600 --> 00:37:42,440
Speaker 4: especially with the career GT market in the Porsche world.

731
00:37:42,760 --> 00:37:45,680
Speaker 4: I mean those are now solidly two million dollars. There's

732
00:37:45,719 --> 00:37:49,319
Speaker 4: been an outlier at three million. Are already there are

733
00:37:49,400 --> 00:37:51,640
Speaker 4: cars that will sell for more, especially if they're a

734
00:37:51,680 --> 00:37:53,680
Speaker 4: low mileage. But that's a car that went up in

735
00:37:53,760 --> 00:37:55,319
Speaker 4: value and down in value, and up and value and

736
00:37:55,360 --> 00:37:57,120
Speaker 4: down in value, and kind of the same thing happened

737
00:37:57,120 --> 00:37:59,320
Speaker 4: with the GT, the two eighth GT over the years.

738
00:38:00,200 --> 00:38:01,400
Speaker 4: It went up and it went down, and went up

739
00:38:01,400 --> 00:38:02,719
Speaker 4: and it went down. Now it's gone up and it's

740
00:38:02,719 --> 00:38:05,959
Speaker 4: gone through the you know, the roof. So let's see,

741
00:38:06,040 --> 00:38:08,920
Speaker 4: I mean the nine eighteen when the big worry when

742
00:38:08,960 --> 00:38:11,640
Speaker 4: that came off of warranty was that, oh, the battery

743
00:38:11,680 --> 00:38:13,480
Speaker 4: pack is going to be one hundred thousand dollars to change,

744
00:38:13,480 --> 00:38:14,719
Speaker 4: and who the hell is going to want to do that?

745
00:38:14,760 --> 00:38:16,560
Speaker 4: So let's get off these cars. And a lot of

746
00:38:16,600 --> 00:38:19,120
Speaker 4: them changed hands for a million, a million, one, a million, two.

747
00:38:19,560 --> 00:38:21,680
Speaker 2: And the tars were an issue too, right, Well, can

748
00:38:21,760 --> 00:38:22,560
Speaker 2: get tires for them?

749
00:38:22,600 --> 00:38:24,960
Speaker 4: Well this is that. Yeah. And then well in the

750
00:38:24,960 --> 00:38:28,560
Speaker 4: career GT, the suspension was broken in the rear, they

751
00:38:28,560 --> 00:38:32,840
Speaker 4: were you know, Porsche was doing that recall. Yeah, and

752
00:38:32,920 --> 00:38:36,799
Speaker 4: it was like you know, and I remember having it

753
00:38:36,840 --> 00:38:39,640
Speaker 4: talked to guys who were real market makers who would

754
00:38:39,719 --> 00:38:42,840
Speaker 4: buy multiple examples of one thing and take a hedge

755
00:38:42,840 --> 00:38:46,279
Speaker 4: on them. And even they were going, I don't know

756
00:38:46,320 --> 00:38:48,640
Speaker 4: what the career a GT when if Porsche's going to

757
00:38:48,680 --> 00:38:49,759
Speaker 4: be able to fix it in the time, and why

758
00:38:49,800 --> 00:38:51,239
Speaker 4: would I want to buy one? Now, well, that was

759
00:38:51,239 --> 00:38:53,600
Speaker 4: the time to buy it. That was a risk. And

760
00:38:53,880 --> 00:38:57,560
Speaker 4: now with that particular car, not to go down this

761
00:38:58,000 --> 00:39:03,560
Speaker 4: too far down this rabbit hole. Porsia Classic Bruce Cannapa

762
00:39:03,719 --> 00:39:05,800
Speaker 4: company called the Merit Partners in Graham ray Hall in

763
00:39:05,840 --> 00:39:07,919
Speaker 4: the United States. Three big deals in the United States

764
00:39:07,960 --> 00:39:10,400
Speaker 4: are these cars and Porscha Classic are now restoring these

765
00:39:10,440 --> 00:39:12,640
Speaker 4: cars and making them any way you want. Yes. And

766
00:39:12,719 --> 00:39:14,520
Speaker 4: a client of mine said to me, can you get

767
00:39:14,520 --> 00:39:16,960
Speaker 4: me a very high mileage example of one of those cars.

768
00:39:16,960 --> 00:39:18,640
Speaker 4: I don't want to buy a great one. I just

769
00:39:18,719 --> 00:39:20,680
Speaker 4: want one that somebody used because I'm gonna send it

770
00:39:20,719 --> 00:39:23,600
Speaker 4: to Porsche to have them restore it. Dude, let's leuldn't

771
00:39:23,640 --> 00:39:24,359
Speaker 4: find him a car.

772
00:39:24,640 --> 00:39:26,080
Speaker 1: Let's put a pin in that, because I do want

773
00:39:26,080 --> 00:39:28,040
Speaker 1: to talk more about that. But we need to take

774
00:39:28,080 --> 00:39:30,960
Speaker 1: a break. Stay with us for more of Steve Sirio,

775
00:39:31,280 --> 00:39:33,920
Speaker 1: million dollar broker on Hot Pursuit.

776
00:39:40,120 --> 00:39:41,280
Speaker 3: Welcome back to Hot Pursuit.

777
00:39:41,400 --> 00:39:44,840
Speaker 1: Back now to our conversation with multimillion dollar auto broker

778
00:39:44,880 --> 00:39:49,000
Speaker 1: Steve Cirio. And you mentioned something fascinating that we actually

779
00:39:49,000 --> 00:39:51,640
Speaker 1: haven't talked about, but I've been reading a lot about

780
00:39:51,640 --> 00:39:54,920
Speaker 1: it on BAT and on various forums, which is that

781
00:39:54,960 --> 00:39:59,719
Speaker 1: Porsche now will take say like an original Kienne and

782
00:39:59,760 --> 00:40:05,240
Speaker 1: then and completely rework it, rebuild the engine, paint it purple,

783
00:40:05,560 --> 00:40:08,960
Speaker 1: make the leather green, whatever you want for I imagine

784
00:40:08,960 --> 00:40:12,040
Speaker 1: a very hefty price. And what do they call that?

785
00:40:12,200 --> 00:40:14,879
Speaker 4: And that's for a well, it's the Portia Classic Senter,

786
00:40:14,920 --> 00:40:16,680
Speaker 4: So I don't know. There must be a name for

787
00:40:16,760 --> 00:40:21,840
Speaker 4: that particular program. I was at the center in twenty

788
00:40:21,880 --> 00:40:24,839
Speaker 4: twenty two when they were I think doing the very

789
00:40:24,880 --> 00:40:27,759
Speaker 4: first or second career GT and thought and I thought

790
00:40:27,800 --> 00:40:31,400
Speaker 4: to myself, Huh, you're going to spend a million bucks

791
00:40:31,520 --> 00:40:34,600
Speaker 4: making this the way you wanted it, because they only

792
00:40:34,640 --> 00:40:36,839
Speaker 4: made a handful of colors when they were new, and

793
00:40:36,880 --> 00:40:40,239
Speaker 4: none of them suit your palette. And we're going to

794
00:40:40,280 --> 00:40:43,399
Speaker 4: make it the way you want it. Okay, well, nothing else.

795
00:40:43,440 --> 00:40:47,600
Speaker 4: This speaks of the vast wealth within a very small

796
00:40:48,640 --> 00:40:50,879
Speaker 4: minority of the people that you know, so do well

797
00:40:50,920 --> 00:40:53,719
Speaker 4: for themselves, and they can just have anything they want.

798
00:40:53,760 --> 00:40:56,120
Speaker 4: So it's all right, let's buy this car and let

799
00:40:56,160 --> 00:40:58,560
Speaker 4: me have it the way I want it. And maybe

800
00:40:58,560 --> 00:41:00,759
Speaker 4: I wasn't even old enough for a successful enough to

801
00:41:00,800 --> 00:41:02,480
Speaker 4: have bought it when it was new, But guess what,

802
00:41:02,719 --> 00:41:05,560
Speaker 4: you know, I just sold my company for this incredible

803
00:41:05,560 --> 00:41:07,160
Speaker 4: amount of money, and that's one of the things I

804
00:41:07,200 --> 00:41:07,839
Speaker 4: want to do with it.

805
00:41:08,160 --> 00:41:10,880
Speaker 5: Yeah, I think that that is quite a point that

806
00:41:11,120 --> 00:41:14,600
Speaker 5: I'm always reminded of. You know, the average Bagatti buyer

807
00:41:15,440 --> 00:41:17,640
Speaker 5: has two and that owns two and a half on

808
00:41:17,680 --> 00:41:20,360
Speaker 5: average bugattis you know, the person who's buying the gto

809
00:41:20,640 --> 00:41:25,040
Speaker 5: also owns one hundred other cars. The amount of wealth

810
00:41:25,120 --> 00:41:29,680
Speaker 5: that is in these rooms and in these circles is astounded.

811
00:41:29,760 --> 00:41:32,279
Speaker 4: It's crazy concentration. And I get a gig a lot

812
00:41:32,280 --> 00:41:34,640
Speaker 4: of it every time I read that. You know, the

813
00:41:34,640 --> 00:41:36,440
Speaker 4: the newspaper, the Journal on Friday, when you go to

814
00:41:36,520 --> 00:41:38,000
Speaker 4: the home section and you look at the homes that

815
00:41:38,040 --> 00:41:40,200
Speaker 4: are in the market in certain parts of the country,

816
00:41:40,200 --> 00:41:41,959
Speaker 4: And this just came on the market for one hundred

817
00:41:42,000 --> 00:41:44,120
Speaker 4: and fifty million dollars or this is fifty million, and

818
00:41:44,160 --> 00:41:46,600
Speaker 4: it was you know, this person sold this for whatever,

819
00:41:46,840 --> 00:41:50,439
Speaker 4: and you realize, yeah, that that's kind of the same

820
00:41:50,600 --> 00:41:52,840
Speaker 4: audience we're talking about with these cars.

821
00:41:54,080 --> 00:41:56,600
Speaker 5: Can we go back to you said you were looking

822
00:41:56,600 --> 00:41:59,520
Speaker 5: for a high mileage career g Yeah.

823
00:41:59,360 --> 00:42:02,040
Speaker 1: By the way, I think it's called the factory Recommission's

824
00:42:02,080 --> 00:42:03,799
Speaker 1: what they call it, the factory recommission.

825
00:42:03,880 --> 00:42:07,200
Speaker 4: And you couldn't find one, uh, couldn't find one with

826
00:42:07,480 --> 00:42:13,080
Speaker 4: higher mileage because everybody was looking. And then the fellow

827
00:42:13,239 --> 00:42:19,320
Speaker 4: who's who I'm looking for said, Okay, I'm just let's

828
00:42:19,400 --> 00:42:21,920
Speaker 4: ratchet up the price of what I'll spend for one,

829
00:42:21,960 --> 00:42:25,239
Speaker 4: and right when he said, you know, I'll go to

830
00:42:25,360 --> 00:42:31,200
Speaker 4: two million dollars. Effectively, it was for forty five days

831
00:42:31,320 --> 00:42:35,000
Speaker 4: nothing was available. And now you know, once one popped

832
00:42:35,040 --> 00:42:37,520
Speaker 4: at three million, which is an outlier, that that's sold

833
00:42:37,600 --> 00:42:39,759
Speaker 4: last week. That's a complete outlier, and that's not where

834
00:42:39,760 --> 00:42:41,719
Speaker 4: the market is now. It's but it's going to make

835
00:42:41,760 --> 00:42:45,080
Speaker 4: it that much harder to find another one. So it's

836
00:42:45,080 --> 00:42:48,880
Speaker 4: one of those things, you know, when you want something,

837
00:42:49,200 --> 00:42:51,759
Speaker 4: you can't find it. And then like with GTOs two

838
00:42:51,840 --> 00:42:54,920
Speaker 4: years ago, which this also affected the price. There were

839
00:42:55,040 --> 00:42:58,640
Speaker 4: four on the marketplace, and for fifteen years you had

840
00:42:58,680 --> 00:43:01,040
Speaker 4: to go to owners to say would you would you

841
00:43:01,040 --> 00:43:04,359
Speaker 4: sell me your gto No? Okay, keep going, keep going,

842
00:43:04,440 --> 00:43:06,359
Speaker 4: keep going. So that kept driving the market up. There

843
00:43:06,400 --> 00:43:09,520
Speaker 4: was nothing available. And then once these people who kind

844
00:43:09,560 --> 00:43:14,440
Speaker 4: of paid, you know, relatively nothing for their cars went well,

845
00:43:14,520 --> 00:43:16,800
Speaker 4: all right, I'll take the forty or fifty or sixty

846
00:43:16,840 --> 00:43:20,200
Speaker 4: million dollars, a handful of them come on the market

847
00:43:20,280 --> 00:43:22,880
Speaker 4: and then everybody kind of looks at each other and goes, well,

848
00:43:22,880 --> 00:43:25,320
Speaker 4: wait a minute, I thought these were difficult to find.

849
00:43:26,280 --> 00:43:30,880
Speaker 4: So it's the psychology of car collecting. I'm sure is

850
00:43:31,560 --> 00:43:35,520
Speaker 4: it mirrors some other you know, psycho wonder, but I

851
00:43:35,520 --> 00:43:36,440
Speaker 4: don't know what that is.

852
00:43:36,880 --> 00:43:40,719
Speaker 1: I think Hannah's point that it's about what's in and

853
00:43:40,760 --> 00:43:44,040
Speaker 1: what's out is a good one, because I remember when

854
00:43:44,080 --> 00:43:49,920
Speaker 1: you could get a Lamborghini Cuntash for like forty or

855
00:43:49,960 --> 00:43:53,000
Speaker 1: fifty thousand dollars and there were a ton of them

856
00:43:53,040 --> 00:43:55,920
Speaker 1: in the market, and also the question was why the

857
00:43:55,960 --> 00:43:58,799
Speaker 1: hell would you want one? They're like, very uncomfortable to

858
00:43:58,840 --> 00:44:03,360
Speaker 1: be in, difficult to drive, actually a dog. But now

859
00:44:03,400 --> 00:44:07,600
Speaker 1: that like, uh Farah got one and Dug the muro

860
00:44:07,760 --> 00:44:11,440
Speaker 1: got one. Now everybody wants one, and those guys are like,

861
00:44:11,520 --> 00:44:13,360
Speaker 1: it's my favorite car of all time, the.

862
00:44:13,520 --> 00:44:15,680
Speaker 4: Big piles of I can't say it on your show

863
00:44:15,719 --> 00:44:19,120
Speaker 4: that the worst driving car, I'm poorly put together that

864
00:44:19,280 --> 00:44:22,239
Speaker 4: you look like a complete spas. As I say to people,

865
00:44:22,239 --> 00:44:24,160
Speaker 4: if you want attention, just light your hair on fire

866
00:44:24,160 --> 00:44:25,400
Speaker 4: and run down the street or.

867
00:44:26,040 --> 00:44:27,520
Speaker 1: A Venta door and it's a way better.

868
00:44:27,560 --> 00:44:30,759
Speaker 4: Are like, just just go right ahead. I've never been

869
00:44:30,800 --> 00:44:34,320
Speaker 4: a fan of those cars. I've sold a handful of them.

870
00:44:33,800 --> 00:44:39,719
Speaker 4: I'm more suspect driving wise of the mirror, and the

871
00:44:39,760 --> 00:44:42,560
Speaker 4: mirror is having another moment where you know, try to

872
00:44:42,600 --> 00:44:45,520
Speaker 4: find one. And I've been doing this long enough where

873
00:44:45,600 --> 00:44:47,960
Speaker 4: the first few I sold, which weren't great cars, were

874
00:44:48,040 --> 00:44:50,160
Speaker 4: under one hundred thousand dollars, and then I remember selling

875
00:44:50,160 --> 00:44:54,160
Speaker 4: one for a million dollars in thought nuts, well, you know,

876
00:44:54,840 --> 00:44:57,440
Speaker 4: four or five five and a half for an SV

877
00:44:57,600 --> 00:45:02,719
Speaker 4: Now they never went racing with it. It was kind

878
00:45:02,800 --> 00:45:07,080
Speaker 4: of a quasi successful thing when it was new. The

879
00:45:07,120 --> 00:45:10,320
Speaker 4: build quality is typical Lamborghini of the period. It's okay,

880
00:45:10,400 --> 00:45:12,200
Speaker 4: you don't want to take the dash out and look

881
00:45:12,239 --> 00:45:14,360
Speaker 4: behind the dash and see how the whole thing's screwed together.

882
00:45:14,480 --> 00:45:16,120
Speaker 4: I mean, it's not as bad as a Bitzerini, but

883
00:45:16,160 --> 00:45:19,759
Speaker 4: it's terrible compared to you know, countless other cars that

884
00:45:19,760 --> 00:45:23,479
Speaker 4: were made in period. But because it's such a work

885
00:45:23,520 --> 00:45:25,880
Speaker 4: of art now and it is one of those things

886
00:45:25,920 --> 00:45:29,200
Speaker 4: like a gull wing, that is, it's not blue chip,

887
00:45:29,239 --> 00:45:33,080
Speaker 4: it's platinum chip. You know, the only Asden that has

888
00:45:33,080 --> 00:45:35,759
Speaker 4: survived the aston correction of the marketplace is the dB

889
00:45:35,880 --> 00:45:38,799
Speaker 4: five thanks the James Bond. The only real three point

890
00:45:38,800 --> 00:45:41,680
Speaker 4: fifty six that has survived the correction is a speedster.

891
00:45:42,840 --> 00:45:47,640
Speaker 4: You have certain things that no matter what happens, everybody

892
00:45:47,640 --> 00:45:50,359
Speaker 4: has to check a box to have one. But it's

893
00:45:50,400 --> 00:45:54,560
Speaker 4: a great time to buy every other asten. I mean,

894
00:45:54,600 --> 00:45:57,319
Speaker 4: I was watching Maserati numbers today. There was a what

895
00:45:57,400 --> 00:46:00,040
Speaker 4: looked like a wonderful Ghibli that wasn't a hunterd on

896
00:46:00,080 --> 00:46:03,600
Speaker 4: thousand dollars a coup. There there was a Ghibli Spider

897
00:46:03,680 --> 00:46:06,960
Speaker 4: for under four hundred. There was a Masarati thirty five

898
00:46:07,000 --> 00:46:09,799
Speaker 4: hundred Vinali Spider yesterday for under four hundred thousand dollars.

899
00:46:10,080 --> 00:46:12,840
Speaker 4: You know, those are all million dollar plus cars. Just

900
00:46:12,960 --> 00:46:14,399
Speaker 4: the other day, I was going.

901
00:46:14,400 --> 00:46:15,960
Speaker 2: To ask, what are you looking at?

902
00:46:16,000 --> 00:46:18,680
Speaker 5: Now? What should people be looking at for a little

903
00:46:18,719 --> 00:46:19,680
Speaker 5: bit of an opportunity?

904
00:46:20,040 --> 00:46:21,759
Speaker 2: Well, sounds like a lot of Italians.

905
00:46:22,080 --> 00:46:26,120
Speaker 4: The opportunity is anything. You know, there's so many European

906
00:46:26,200 --> 00:46:33,040
Speaker 4: things that have corrected, Hanna. I mean, it's all across Germany, Italy, Britain.

907
00:46:33,719 --> 00:46:37,240
Speaker 4: If it's older. If you've ever wanted a pre war Bugatti,

908
00:46:37,239 --> 00:46:40,760
Speaker 4: a proper original Bugatti, go help yourself. If you ever wanted,

909
00:46:41,160 --> 00:46:45,239
Speaker 4: you know, an Alpha from that period, it's all it's

910
00:46:45,320 --> 00:46:48,560
Speaker 4: all relative, you know, but it's it's it's all of

911
00:46:48,600 --> 00:46:51,200
Speaker 4: those things have fallen off. Big Bentley's have fallen off.

912
00:46:51,880 --> 00:46:55,319
Speaker 1: Bentley for an athlet, Yeah, I want one. So now

913
00:46:55,920 --> 00:47:00,400
Speaker 1: that there is your opportunity, Mercedes w one f to.

914
00:47:02,280 --> 00:47:05,640
Speaker 5: I mean, do you you don't see those ever regaining

915
00:47:05,719 --> 00:47:08,040
Speaker 5: their their value to what they were?

916
00:47:08,840 --> 00:47:09,080
Speaker 2: Right?

917
00:47:09,239 --> 00:47:11,279
Speaker 4: No? I don't. I mean I say to people all

918
00:47:11,280 --> 00:47:13,000
Speaker 4: the time, you know, you can try to catch that

919
00:47:13,040 --> 00:47:14,759
Speaker 4: falling knife. But if you got one of those things

920
00:47:14,800 --> 00:47:17,400
Speaker 4: for sale, I would take I would take the offer today.

921
00:47:17,719 --> 00:47:20,200
Speaker 1: Really, those big old Bentley's, even the replicas, cost over

922
00:47:20,239 --> 00:47:21,040
Speaker 1: a million dollars.

923
00:47:21,200 --> 00:47:25,640
Speaker 4: Not anymore. No, Wow, Well, I mean the continuation cars

924
00:47:25,760 --> 00:47:29,040
Speaker 4: especially didn't help the matter. Bentley built new old versions

925
00:47:29,040 --> 00:47:32,239
Speaker 4: of that. That doesn't help. Jaguar built a lot of

926
00:47:32,840 --> 00:47:36,200
Speaker 4: new old things. Martin's Eagle where they call those those

927
00:47:36,640 --> 00:47:39,080
Speaker 4: the Eagle GT is a different animal. That's a different

928
00:47:39,200 --> 00:47:42,000
Speaker 4: that's a kind of a that's a singer of Jaguars.

929
00:47:42,120 --> 00:47:42,640
Speaker 3: That's great.

930
00:47:43,520 --> 00:47:45,480
Speaker 4: You look at Aston Martin came out with their dbfour

931
00:47:45,560 --> 00:47:49,000
Speaker 4: GT continuation car. It was a couple of million dollars.

932
00:47:49,040 --> 00:47:51,239
Speaker 4: One just shd traded hands for eight hundred and what

933
00:47:51,239 --> 00:47:52,759
Speaker 4: do you do with it? Because legally you can't put

934
00:47:52,760 --> 00:47:53,040
Speaker 4: it on.

935
00:47:52,960 --> 00:47:56,160
Speaker 2: The road as a pross or anywhere.

936
00:47:56,760 --> 00:47:59,160
Speaker 4: A great many countries. It's a track car only.

937
00:47:59,440 --> 00:48:02,440
Speaker 1: Okay, go to Montana and like, well.

938
00:48:02,320 --> 00:48:05,000
Speaker 4: You can cheat. You can get very clever. And if

939
00:48:05,040 --> 00:48:07,719
Speaker 4: you have an original engine block like you used to

940
00:48:07,800 --> 00:48:09,520
Speaker 4: do in California back in the day, and you title

941
00:48:09,560 --> 00:48:12,399
Speaker 4: the car into the engine number, you might get away

942
00:48:12,440 --> 00:48:15,080
Speaker 4: with it. I might have known somebody that did that.

943
00:48:15,280 --> 00:48:15,720
Speaker 3: Interesting.

944
00:48:15,880 --> 00:48:17,960
Speaker 1: I was actually thinking about I want to I kind

945
00:48:17,960 --> 00:48:23,200
Speaker 1: of want like an indie roadster, you know, like a

946
00:48:23,320 --> 00:48:29,879
Speaker 1: Watson or one of those front engine, open wheel, open

947
00:48:29,880 --> 00:48:32,920
Speaker 1: wheel car. And I was thinking if I put if

948
00:48:32,920 --> 00:48:35,719
Speaker 1: I go to Montana open an LLC and then put

949
00:48:35,760 --> 00:48:38,920
Speaker 1: headlights on it and blinkers, can I can? I? Can

950
00:48:38,960 --> 00:48:39,719
Speaker 1: I drive in New York?

951
00:48:39,800 --> 00:48:42,120
Speaker 4: This doesn't fit any of the criteria. What you've been

952
00:48:42,160 --> 00:48:43,600
Speaker 4: talking about for a classic car.

953
00:48:43,640 --> 00:48:46,440
Speaker 1: By the way, well your kid, because you know I

954
00:48:46,480 --> 00:48:50,000
Speaker 1: love the Silver Arrow, like the I said, the Auto

955
00:48:50,160 --> 00:48:53,279
Speaker 1: Union cars. I love these long cigar tubes that just

956
00:48:53,320 --> 00:48:56,160
Speaker 1: have wheels like a belly tanker. I love those kinds

957
00:48:56,200 --> 00:48:59,279
Speaker 1: of shapes. And the Indie roadsters were like that too,

958
00:48:59,360 --> 00:49:02,080
Speaker 1: so but the problem is I just can't figure out

959
00:49:02,120 --> 00:49:04,440
Speaker 1: how it would get any of them registered.

960
00:49:04,080 --> 00:49:07,759
Speaker 4: And you have a difficult time fitting yes, yes, which

961
00:49:07,800 --> 00:49:08,280
Speaker 4: is the other.

962
00:49:08,360 --> 00:49:10,680
Speaker 1: That's why I chose the giant Andy Roadsters because they're

963
00:49:10,719 --> 00:49:13,480
Speaker 1: so huge and anb eights a lot of them.

964
00:49:13,640 --> 00:49:16,080
Speaker 4: Yeah. No, there's the Hannah to answer your question. I mean,

965
00:49:16,120 --> 00:49:19,000
Speaker 4: if you've always wanted a launcher or a you know,

966
00:49:19,560 --> 00:49:23,640
Speaker 4: it's speaking about, you know, things that aren't going to bounce.

967
00:49:23,680 --> 00:49:25,600
Speaker 4: I mean you, I know, Hannah knows. I don't know

968
00:49:25,600 --> 00:49:28,080
Speaker 4: if Matt knows, but I bought a sixty three Mullin

969
00:49:28,120 --> 00:49:31,000
Speaker 4: or park Ward Bentley because it was a third of

970
00:49:31,040 --> 00:49:32,719
Speaker 4: the price of what they were at when I first

971
00:49:32,719 --> 00:49:36,479
Speaker 4: started looking. And is it ever going to be worth

972
00:49:36,520 --> 00:49:38,960
Speaker 4: the two hundred and thirteen thousand dollars I paid for it?

973
00:49:39,680 --> 00:49:42,680
Speaker 4: I think so, but you know it could go down

974
00:49:42,680 --> 00:49:45,040
Speaker 4: to one hundred and fifty real quick. I mean they

975
00:49:45,040 --> 00:49:47,000
Speaker 4: made sixteen of them in left hand drive, so I've

976
00:49:47,040 --> 00:49:48,040
Speaker 4: got that going for me.

977
00:49:48,200 --> 00:49:50,760
Speaker 1: But did you, Steve, did you buy that as an investment?

978
00:49:50,840 --> 00:49:52,279
Speaker 1: Or did you buy it because you love that car?

979
00:49:52,440 --> 00:49:54,920
Speaker 4: You buy you should buy everything because you love the car.

980
00:49:55,640 --> 00:50:00,000
Speaker 4: Don't buy if you get lucky and you do okay,

981
00:50:00,080 --> 00:50:02,239
Speaker 4: as an investment, that's fine. But you know, I say

982
00:50:02,280 --> 00:50:03,840
Speaker 4: to folks all the time, if you want an investment,

983
00:50:03,880 --> 00:50:06,960
Speaker 4: buy an apartment building, Buy something that has a track

984
00:50:07,000 --> 00:50:11,680
Speaker 4: record of always being worth more. Cars are fluid and personalities,

985
00:50:11,719 --> 00:50:15,080
Speaker 4: and the way people buy with their heart is fluid.

986
00:50:15,920 --> 00:50:17,200
Speaker 2: The heart wants what the heart wants.

987
00:50:17,320 --> 00:50:19,439
Speaker 4: Yeah, and buy it because you love it, don't buy

988
00:50:19,440 --> 00:50:21,920
Speaker 4: it because you know you want to do anything with

989
00:50:21,960 --> 00:50:24,719
Speaker 4: it other than love the car for whatever reason. And

990
00:50:24,840 --> 00:50:27,279
Speaker 4: sometimes you buy things and you think you're going to

991
00:50:27,320 --> 00:50:29,920
Speaker 4: love them. And I've certainly fallen under this where you

992
00:50:29,960 --> 00:50:31,759
Speaker 4: buy something you've always wanted it, you drive it and

993
00:50:31,760 --> 00:50:35,080
Speaker 4: you go that's terrible, you know, that's just I've made

994
00:50:35,080 --> 00:50:37,600
Speaker 4: the freshman era of buying things before driving them.

995
00:50:37,719 --> 00:50:39,280
Speaker 2: Yeah, it's not the end of the world.

996
00:50:39,440 --> 00:50:41,239
Speaker 4: No, it's not. You move on.

997
00:50:41,920 --> 00:50:45,800
Speaker 1: You then I hear, well, I'm historically I'm a coward.

998
00:50:46,920 --> 00:50:47,880
Speaker 2: You can do it.

999
00:50:49,520 --> 00:50:49,920
Speaker 4: Conviction.

1000
00:50:50,600 --> 00:50:52,280
Speaker 2: I mean, you can buy it.

1001
00:50:52,320 --> 00:50:54,920
Speaker 4: And then think of all the free time you'll have

1002
00:50:55,000 --> 00:50:57,120
Speaker 4: that when you buy something and you want to study

1003
00:50:57,160 --> 00:50:57,920
Speaker 4: buy it something.

1004
00:50:58,000 --> 00:51:00,240
Speaker 1: I was talking with that architect even.

1005
00:51:00,080 --> 00:51:02,360
Speaker 4: Harris right, oh yeah, Harris a good friend.

1006
00:51:02,239 --> 00:51:06,000
Speaker 1: And I was like, man, I really want a Corvette

1007
00:51:06,000 --> 00:51:08,280
Speaker 1: CE two. This is at the time that Darry Ridolts

1008
00:51:08,320 --> 00:51:09,880
Speaker 1: had gotten one, and he was like, have you ever

1009
00:51:09,960 --> 00:51:12,040
Speaker 1: driven one? Because you won't want one once you drive it.

1010
00:51:12,239 --> 00:51:14,360
Speaker 4: You won't want anything from that period once you drive it.

1011
00:51:14,440 --> 00:51:16,560
Speaker 4: Like that. I love old Corvettes, and I bought it.

1012
00:51:16,600 --> 00:51:18,800
Speaker 4: I had a sixty seven Fuey for a while, sixty

1013
00:51:18,800 --> 00:51:23,720
Speaker 4: five fuly Roads to forty thousand miles, dark green, tan, leather,

1014
00:51:23,800 --> 00:51:27,160
Speaker 4: hard top, the whole thing. And somebody convinced me when

1015
00:51:27,160 --> 00:51:30,360
Speaker 4: I sold my two seventy five GTS Ferrari, where he said,

1016
00:51:30,840 --> 00:51:32,840
Speaker 4: this will give you ninety percent of the joy that

1017
00:51:32,880 --> 00:51:34,759
Speaker 4: the Ferrari will for a fraction of the price, and

1018
00:51:34,800 --> 00:51:38,000
Speaker 4: he was so wrong. He was so wrong. It still

1019
00:51:38,120 --> 00:51:40,800
Speaker 4: drove like an old Corvette. It didn't handle well, it

1020
00:51:41,160 --> 00:51:44,960
Speaker 4: didn't break well. Engine was great, straight line great. You

1021
00:51:45,000 --> 00:51:46,920
Speaker 4: walk up to it, you go, this is absolutely a

1022
00:51:46,960 --> 00:51:49,040
Speaker 4: gorgeous car, and then you drive it for an hour

1023
00:51:49,080 --> 00:51:50,200
Speaker 4: and you want to kill yourself.

1024
00:51:50,520 --> 00:51:51,480
Speaker 1: Drive me before you buy.

1025
00:51:51,560 --> 00:51:53,600
Speaker 4: I drove my two to seventy five car.

1026
00:51:54,840 --> 00:51:58,400
Speaker 1: So Hannah buys these cars like the C three Corvettes

1027
00:51:58,480 --> 00:51:59,600
Speaker 1: or the old Rolls Royces.

1028
00:52:00,040 --> 00:52:00,799
Speaker 3: Did you drive those?

1029
00:52:00,840 --> 00:52:02,600
Speaker 1: Did you test drive those first, or did you just

1030
00:52:02,640 --> 00:52:04,520
Speaker 1: say I love that shape, now I want it.

1031
00:52:04,560 --> 00:52:07,520
Speaker 2: I I I drove them before.

1032
00:52:08,120 --> 00:52:11,600
Speaker 5: Initially, the initial attraction of the first for the Rolls

1033
00:52:11,680 --> 00:52:14,839
Speaker 5: Royces was I wanted something that was radically different than

1034
00:52:15,000 --> 00:52:17,360
Speaker 5: what my husband was into and known for.

1035
00:52:17,480 --> 00:52:21,600
Speaker 2: I needed something that felt like my own, and so.

1036
00:52:22,120 --> 00:52:27,319
Speaker 5: It was a specific decision to go elsewhere. And of

1037
00:52:27,320 --> 00:52:31,240
Speaker 5: course I was attracted by the mystique and the sense

1038
00:52:31,239 --> 00:52:34,359
Speaker 5: of occasion and the history and the lineage of Rolls Royce.

1039
00:52:34,400 --> 00:52:37,320
Speaker 5: I mean, I can't even describe like that that.

1040
00:52:37,360 --> 00:52:38,600
Speaker 2: Aura that it has.

1041
00:52:38,840 --> 00:52:43,839
Speaker 5: But yes, but to answer to your question very quickly, no,

1042
00:52:43,960 --> 00:52:48,200
Speaker 5: I drove drove before the purchase of that, and drove

1043
00:52:48,320 --> 00:52:52,960
Speaker 5: multiple Corvettes before the C three, and drove multiple Mercedes

1044
00:52:53,080 --> 00:52:57,239
Speaker 5: sls before driving before buying the sl that I had,

1045
00:52:57,840 --> 00:53:00,279
Speaker 5: And actually that car wasn't great and we got it,

1046
00:53:00,320 --> 00:53:02,719
Speaker 5: and that's how we got into the roles.

1047
00:53:02,880 --> 00:53:05,200
Speaker 1: I just you know, I when I was a kid,

1048
00:53:05,200 --> 00:53:08,480
Speaker 1: I always wanted to be MWM six because in the

1049
00:53:08,600 --> 00:53:11,319
Speaker 1: late eighties early nineties that was hot. I love the

1050
00:53:11,400 --> 00:53:14,759
Speaker 1: shark nose. And when I finally made enough money to

1051
00:53:15,360 --> 00:53:18,239
Speaker 1: get a car, I went and test drove one and

1052
00:53:18,280 --> 00:53:21,279
Speaker 1: I was like, oh my goodness, it's such a dog.

1053
00:53:21,520 --> 00:53:22,479
Speaker 2: It's never meet your hero.

1054
00:53:22,600 --> 00:53:25,520
Speaker 4: So yeah, No, I had the original nineteen eighty eight

1055
00:53:25,640 --> 00:53:28,720
Speaker 4: M five and I that was a thing in the period.

1056
00:53:28,800 --> 00:53:31,359
Speaker 4: I remember driving them six afterwards and went, no, these

1057
00:53:31,360 --> 00:53:35,759
Speaker 4: are nowhere near the same joy to drive. And the

1058
00:53:35,880 --> 00:53:41,120
Speaker 4: M five was just, you know, absolutely thrilling on every

1059
00:53:41,200 --> 00:53:44,239
Speaker 4: level in nineteen eighty eight, and it led to that

1060
00:53:44,320 --> 00:53:46,440
Speaker 4: whole M series of cars. And I had an M

1061
00:53:46,480 --> 00:53:48,240
Speaker 4: one as well for a period.

1062
00:53:48,320 --> 00:53:50,640
Speaker 1: Really, and that's a sweet, sweet right.

1063
00:53:50,760 --> 00:53:51,719
Speaker 3: I loved it.

1064
00:53:51,719 --> 00:53:53,960
Speaker 4: It was a really wonderful car. And I remember being

1065
00:53:53,960 --> 00:53:56,480
Speaker 4: influenced by Jeff Sward, who used to daily drive one,

1066
00:53:56,600 --> 00:53:59,000
Speaker 4: and Jeff was like a photography hero of mine, and

1067
00:53:59,040 --> 00:54:00,480
Speaker 4: I thought, I'm going to have of these, and I

1068
00:54:00,520 --> 00:54:03,040
Speaker 4: had it, and I immediately got rid of it like

1069
00:54:03,080 --> 00:54:05,960
Speaker 4: six months later. It was just really a nothing drive

1070
00:54:06,040 --> 00:54:07,880
Speaker 4: compared to the M five. And it came after the

1071
00:54:08,000 --> 00:54:09,839
Speaker 4: M five. It wasn't new, it was it was ten

1072
00:54:09,960 --> 00:54:12,560
Speaker 4: years old, but it was. And once I put it

1073
00:54:12,640 --> 00:54:13,960
Speaker 4: up on the lift and looked at it and went,

1074
00:54:14,000 --> 00:54:15,400
Speaker 4: this is about to fall apart.

1075
00:54:16,800 --> 00:54:20,759
Speaker 1: But the well built on are both beautiful to look at. Yes,

1076
00:54:21,120 --> 00:54:24,360
Speaker 1: better looking than the M five, absolutely, you could easily argue,

1077
00:54:24,440 --> 00:54:26,320
Speaker 1: but just not good drivers.

1078
00:54:26,600 --> 00:54:29,520
Speaker 5: I would say in terms of the driving thing, once

1079
00:54:29,560 --> 00:54:32,279
Speaker 5: you drive a certain model, then I would I could

1080
00:54:32,320 --> 00:54:35,520
Speaker 5: purchase a specific car in that same model line without

1081
00:54:35,719 --> 00:54:36,920
Speaker 5: driving it, you know what I mean?

1082
00:54:37,280 --> 00:54:41,160
Speaker 1: Yes, Like if you drive one nine nine seven, and

1083
00:54:41,200 --> 00:54:43,680
Speaker 1: then you see another one across the country for a

1084
00:54:43,680 --> 00:54:45,759
Speaker 1: better price, you can hold the trigger.

1085
00:54:46,239 --> 00:54:48,480
Speaker 5: Because you know what it is and and you know,

1086
00:54:48,560 --> 00:54:52,240
Speaker 5: I've we've bought silver shadows off bring a trailer because

1087
00:54:52,239 --> 00:54:54,160
Speaker 5: we know what we're gonna get. You know, wants to

1088
00:54:54,200 --> 00:54:56,640
Speaker 5: become familiar with a certain mark and a certain era.

1089
00:54:57,000 --> 00:54:59,319
Speaker 5: Then you can play a little bit faster and fast

1090
00:54:59,360 --> 00:55:02,319
Speaker 5: and loose with I mean, these are not collect or

1091
00:55:02,480 --> 00:55:03,600
Speaker 5: collector level cars.

1092
00:55:03,800 --> 00:55:06,560
Speaker 4: But but it's for you. But you're buying what you love,

1093
00:55:06,600 --> 00:55:08,600
Speaker 4: which is the whole, which is the whole point And

1094
00:55:09,320 --> 00:55:11,239
Speaker 4: what you just said about sense of occasion, that's how

1095
00:55:11,280 --> 00:55:13,920
Speaker 4: I feel about the sixty three Bentley. It's and you

1096
00:55:13,960 --> 00:55:16,440
Speaker 4: could drive it every day. It does sort of pointless

1097
00:55:16,480 --> 00:55:19,160
Speaker 4: to do that in Boston, but it's a it's an

1098
00:55:19,200 --> 00:55:21,520
Speaker 4: occasion car, and it gives you a reason to go

1099
00:55:21,560 --> 00:55:23,560
Speaker 4: one hundred miles to go get a cup of coffee.

1100
00:55:23,600 --> 00:55:25,480
Speaker 4: I don't think it's pointless at all, dude, No, I

1101
00:55:25,520 --> 00:55:28,440
Speaker 4: mean just go, yeah, just go and do it. And

1102
00:55:28,440 --> 00:55:31,399
Speaker 4: that's that's the reason for any of this. Unlike back

1103
00:55:31,440 --> 00:55:33,000
Speaker 4: to you, I'll circle back to your point about why

1104
00:55:33,000 --> 00:55:34,640
Speaker 4: do you buy something with no miles on it? Is

1105
00:55:34,680 --> 00:55:37,480
Speaker 4: because you can and your neighbor can't have it. I

1106
00:55:37,520 --> 00:55:39,960
Speaker 4: suppose it's part of it. And you you're starting a

1107
00:55:40,000 --> 00:55:42,359
Speaker 4: collection of things, and think Canada. You had said once

1108
00:55:42,400 --> 00:55:45,080
Speaker 4: at Pebble Beach, it'd be five or six years ago

1109
00:55:45,520 --> 00:55:48,800
Speaker 4: you overheard a conversation about people talking about low mileage things,

1110
00:55:49,400 --> 00:55:52,560
Speaker 4: and the winner of the bragging rights went I think

1111
00:55:52,600 --> 00:55:55,479
Speaker 4: you told me this. The fellow said, well, my car,

1112
00:55:55,600 --> 00:55:58,000
Speaker 4: I'm going to beat all of you guys because my

1113
00:55:58,120 --> 00:56:00,959
Speaker 4: I think it was a konazig where the fellow said,

1114
00:56:01,000 --> 00:56:04,880
Speaker 4: mine has never had oil or fuel in it, And

1115
00:56:04,920 --> 00:56:07,799
Speaker 4: he said, I bought it and I took it, and

1116
00:56:08,480 --> 00:56:10,840
Speaker 4: you know, effectively, I want a brand new thing I

1117
00:56:10,840 --> 00:56:13,120
Speaker 4: want I want the lowest mileage, one that's never been driven. Well,

1118
00:56:13,160 --> 00:56:15,439
Speaker 4: you win what you win, I don't know. You don't

1119
00:56:15,440 --> 00:56:17,759
Speaker 4: win the experience of the joy of driving the car.

1120
00:56:18,400 --> 00:56:21,080
Speaker 1: Why would you do that with a kunig zag? Like

1121
00:56:21,719 --> 00:56:24,640
Speaker 1: the point of a kunigzag is the drive. It's not

1122
00:56:24,719 --> 00:56:27,600
Speaker 1: exactly a stunner, right.

1123
00:56:27,640 --> 00:56:29,440
Speaker 4: I mean you think all the engineering and all of

1124
00:56:29,480 --> 00:56:31,520
Speaker 4: the track time and all of the development that went

1125
00:56:31,560 --> 00:56:33,840
Speaker 4: into any of these cars that people are buying, you

1126
00:56:33,840 --> 00:56:37,520
Speaker 4: know that whole back going back to the Meekam Bachmann

1127
00:56:37,560 --> 00:56:42,800
Speaker 4: collection cars they sold for crazy dough because the family

1128
00:56:42,840 --> 00:56:45,120
Speaker 4: that had them made they were very well connected with Ferrari.

1129
00:56:45,200 --> 00:56:47,719
Speaker 4: They were special clients. They got the last of everything

1130
00:56:47,760 --> 00:56:53,080
Speaker 4: made of a model in these absolutely absurd, comical sprinkle

1131
00:56:53,120 --> 00:56:57,000
Speaker 4: colored cars, and they didn't use them. They just collected

1132
00:56:57,000 --> 00:56:58,840
Speaker 4: them and they made sure they get they had luggage

1133
00:56:58,840 --> 00:57:00,640
Speaker 4: with them and they made sure the car. A lot

1134
00:57:00,680 --> 00:57:03,480
Speaker 4: of the cars came with extra seats. They had like

1135
00:57:03,520 --> 00:57:06,279
Speaker 4: a second set of seats made, and I imagine it

1136
00:57:06,320 --> 00:57:08,240
Speaker 4: wasn't because they were gonna wear out. There was because

1137
00:57:08,320 --> 00:57:11,279
Speaker 4: this I didn't dig into this enough to realize they're

1138
00:57:11,320 --> 00:57:13,520
Speaker 4: probably just different seats and they couldn't decide do we

1139
00:57:13,560 --> 00:57:15,879
Speaker 4: want the tan leather or the tan in yellow leather

1140
00:57:15,920 --> 00:57:20,560
Speaker 4: in this car. So those cars, it's unrepeatable to get

1141
00:57:20,560 --> 00:57:24,960
Speaker 4: those results. It's lightning in a bottle because they're all weird,

1142
00:57:25,040 --> 00:57:27,600
Speaker 4: one off colors. They're all of the last of the last,

1143
00:57:27,600 --> 00:57:29,520
Speaker 4: and then none of them have any miles on them.

1144
00:57:29,520 --> 00:57:31,680
Speaker 4: So that's why everybody blew their brains out wanting to

1145
00:57:31,680 --> 00:57:32,080
Speaker 4: buy them.

1146
00:57:32,240 --> 00:57:36,160
Speaker 1: Comes with the demon crete, comes with a demon crete.

1147
00:57:36,160 --> 00:57:37,320
Speaker 3: Can I get? Can I get?

1148
00:57:37,800 --> 00:57:39,880
Speaker 5: One question that I didn't get to. I wanted to

1149
00:57:39,880 --> 00:57:42,480
Speaker 5: ask you how tariffs are affecting all of this, crushing.

1150
00:57:42,240 --> 00:57:45,920
Speaker 4: It for the United States, because the problem with buying

1151
00:57:45,920 --> 00:57:49,200
Speaker 4: something at Retromobile is that some of the fees are

1152
00:57:49,320 --> 00:57:53,080
Speaker 4: twelve to fifteen percent after the hammer, and now you have,

1153
00:57:54,120 --> 00:57:57,320
Speaker 4: in the best case scenario, if the car was made

1154
00:57:57,320 --> 00:57:59,960
Speaker 4: in England, a ten percent tariff. If the car was

1155
00:58:00,080 --> 00:58:02,640
Speaker 4: made somewhere in Europe, it could be fifteen to seventeen

1156
00:58:02,680 --> 00:58:03,840
Speaker 4: and a half percent.

1157
00:58:03,720 --> 00:58:05,640
Speaker 2: You mean to bring back into the US.

1158
00:58:05,800 --> 00:58:08,200
Speaker 4: So now you've got a thirty if you think of

1159
00:58:08,240 --> 00:58:13,040
Speaker 4: it as a thirty percent ad to hammer price, and

1160
00:58:13,120 --> 00:58:17,000
Speaker 4: then you've got to get the car here. So it's crazy.

1161
00:58:17,360 --> 00:58:20,000
Speaker 5: So how is that possible that we're seeing such a

1162
00:58:20,120 --> 00:58:25,680
Speaker 5: huge jump in and such high and great results in

1163
00:58:25,720 --> 00:58:30,320
Speaker 5: these auctions, and yet tariffs are taking a toll.

1164
00:58:30,480 --> 00:58:33,600
Speaker 4: I asked that to three people on the train coming

1165
00:58:33,640 --> 00:58:36,600
Speaker 4: down here, and all three of them said, I have

1166
00:58:36,760 --> 00:58:39,880
Speaker 4: not talked to anybody from the United States who was buying.

1167
00:58:39,600 --> 00:58:44,880
Speaker 1: Cars overseas, overseas in Paris, because the big numbers have

1168
00:58:45,000 --> 00:58:47,520
Speaker 1: been done in Scottsdale and in Kissing Me.

1169
00:58:48,400 --> 00:58:51,360
Speaker 4: And well, the big big numbers today with Gooding and

1170
00:58:52,080 --> 00:58:55,439
Speaker 4: are curial. Two days ago, and I mean this, five

1171
00:58:55,440 --> 00:58:57,480
Speaker 4: million dollars spent on a gull wing and it was

1172
00:58:57,520 --> 00:59:01,280
Speaker 4: a very very very very special, un repeatable outlier of

1173
00:59:01,320 --> 00:59:04,080
Speaker 4: a gull wing. There's a barnfind had been stored since

1174
00:59:04,120 --> 00:59:08,560
Speaker 4: the eighties, thirty two thousand kilometers gray rudge wheels hot

1175
00:59:08,600 --> 00:59:11,880
Speaker 4: engine like that. So that was that's the holy grail

1176
00:59:11,920 --> 00:59:14,600
Speaker 4: of gull wings. That had to have been bought by well,

1177
00:59:14,960 --> 00:59:17,800
Speaker 4: by somebody in Europe, because if it wasn't, you had

1178
00:59:17,800 --> 00:59:21,640
Speaker 4: another million dollars of right and terrified.

1179
00:59:22,440 --> 00:59:26,320
Speaker 1: Let's be honest. If you're spending five, ten, fifteen million

1180
00:59:26,360 --> 00:59:29,600
Speaker 1: dollars on a car, even if you're an American, you must

1181
00:59:29,640 --> 00:59:31,480
Speaker 1: have a place in Europe, right.

1182
00:59:31,400 --> 00:59:33,680
Speaker 4: Well, yeah, I mean that that is true.

1183
00:59:33,520 --> 00:59:35,600
Speaker 1: Like you've got at least an apartment in Paris or

1184
00:59:35,760 --> 00:59:36,800
Speaker 1: a place in Barcelona.

1185
00:59:37,240 --> 00:59:39,200
Speaker 4: I tried to convince the guy looking for the Careera

1186
00:59:39,320 --> 00:59:41,960
Speaker 4: GT that I may have found one with eighty thousand

1187
00:59:42,040 --> 00:59:45,520
Speaker 4: kilometers on it. It's in Germany, and I said, buy

1188
00:59:45,600 --> 00:59:48,120
Speaker 4: that one. You can't bring it here yet, send it

1189
00:59:48,160 --> 00:59:50,080
Speaker 4: directly to poorsch it. I'll take them two years, do

1190
00:59:50,160 --> 00:59:52,080
Speaker 4: the restoration. When the car is twenty five years old,

1191
00:59:52,160 --> 00:59:55,040
Speaker 4: bring it back. Yeah, so that's that's kind of a

1192
00:59:55,200 --> 00:59:57,960
Speaker 4: he didn't do it, No, he's thinking about it.

1193
00:59:58,240 --> 00:59:59,120
Speaker 3: That's a great idea.

1194
00:59:59,200 --> 01:00:01,720
Speaker 1: You also have a different and that's a solution. Maybe

1195
01:00:01,720 --> 01:00:04,040
Speaker 1: if we have an election in twenty eight then you

1196
01:00:04,120 --> 01:00:07,800
Speaker 1: have maybe a different administration in place and get free trade,

1197
01:00:07,800 --> 01:00:08,880
Speaker 1: maybe get a free trader.

1198
01:00:10,280 --> 01:00:15,280
Speaker 4: God forbid. Yeah, no, that's smart. It's not no, Hannah,

1199
01:00:15,360 --> 01:00:18,240
Speaker 4: I don't know anybody over there buying anything that's American.

1200
01:00:18,560 --> 01:00:21,480
Speaker 4: But I mean I talked to somebody was standing on

1201
01:00:21,560 --> 01:00:25,680
Speaker 4: Max Girardo's stand, and Max had sold all of the

1202
01:00:26,240 --> 01:00:28,840
Speaker 4: new special ferraris. He brought like a two eighty eight

1203
01:00:28,880 --> 01:00:31,479
Speaker 4: and F forty and Enzo. All that stuff sold within

1204
01:00:31,520 --> 01:00:34,240
Speaker 4: twenty four hours of putting it on his stand. All

1205
01:00:34,360 --> 01:00:39,040
Speaker 4: of the typical rare, beautiful stuff from the fifties and sixties,

1206
01:00:39,080 --> 01:00:42,400
Speaker 4: nobody's even looking at. So he's he's got all kinds

1207
01:00:42,400 --> 01:00:44,480
Speaker 4: of stuff and all the new stuff is like voom.

1208
01:00:45,760 --> 01:00:48,320
Speaker 4: So I may go to Japan for the first time

1209
01:00:48,360 --> 01:00:49,520
Speaker 4: ever to go look at a.

1210
01:00:49,400 --> 01:00:51,080
Speaker 2: Collection for the Auto Salon.

1211
01:00:51,200 --> 01:00:53,160
Speaker 4: Oh no, to go look at a collection. There's a

1212
01:00:53,440 --> 01:00:55,840
Speaker 4: two eighty eight and f forty and fifty and Anenzo

1213
01:00:55,920 --> 01:00:58,120
Speaker 4: sitting in a collection, all with the original owner. And

1214
01:00:58,120 --> 01:01:00,480
Speaker 4: it's like, I've never been to Japan, But I'll get

1215
01:01:00,480 --> 01:01:01,480
Speaker 4: on a plane to go do that.

1216
01:01:01,680 --> 01:01:02,480
Speaker 3: That's so cool.

1217
01:01:02,640 --> 01:01:05,200
Speaker 1: Yeah, Steve Sirio, great to have you here in the

1218
01:01:05,240 --> 01:01:06,880
Speaker 1: studio with us. Thanks for joining me.

1219
01:01:07,120 --> 01:01:09,000
Speaker 4: My pleasure anytime. Thank you.

1220
01:01:09,680 --> 01:01:12,080
Speaker 5: That does it for this week's show. Remember to follow

1221
01:01:12,160 --> 01:01:16,080
Speaker 5: and subscribe to Hot Pursuit on Apples, Spotify, and anywhere

1222
01:01:16,080 --> 01:01:19,080
Speaker 5: else you listen. You can also send us your comments.

1223
01:01:19,240 --> 01:01:22,240
Speaker 5: Email us at hot Pursuit at bloomberg dot.

1224
01:01:22,000 --> 01:01:25,040
Speaker 1: Net, and check out Hannah's columns and stories on bloomberg

1225
01:01:25,080 --> 01:01:27,880
Speaker 1: dot com and the Bloomberg Business app. Go there for

1226
01:01:27,920 --> 01:01:31,200
Speaker 1: car reviews, events and stories that you won't find anywhere else.

1227
01:01:31,520 --> 01:01:35,240
Speaker 1: Find it all at Bloomberg dot com, slash Pursuits, slash Autos.

1228
01:01:35,600 --> 01:01:36,760
Speaker 1: I'm Matt Miller.

1229
01:01:36,840 --> 01:01:39,400
Speaker 5: And I'm Hannah Elliott. We'll be back in your podcast

1230
01:01:39,400 --> 01:01:40,560
Speaker 5: speed again next week