# State of Collection Market, Matt Drives Harleys

An episode of [Bloomberg Hot Pursuit!](https://invisiblenetwork.ai/podcast/1710787142), 28 Feb 2025, 1 h 27 min.

Audio: https://podtrac.com/pts/redirect.mp3/traffic.omny.fm/d/clips/e73c998e-6e60-432f-8610-ae210140c5b1/4778f66f-5d19-456a-9820-b08f00dfd567/fe7e65f0-10eb-4c2c-98e4-b29201564ad8/audio.mp3?utm_source=Podcast&in_playlist=42336c1a-f7c2-4898-885b-b08f00e0bb66

Hannah and Matt welcome automotive broker Steve Serio to the podcast to talk about the collecting market - and how Porsche is outpacing Ferrari at the sales this month in Miami. Plus, Matt gives a recap of his trip to Austin and all the Harley-Davidson motorcycles he rode. See omnystudio.com/listener for privacy information.

## Transcript

[0:02] Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
[0:09] Speaker 2: I'm Matt Miller and I'm Hannah Elliott and this is
[0:11] Speaker 2: hot pursuit.
[0:16] Speaker 3: By the way, I got an email from somebody who said,
[0:19] Speaker 3: have you looked at Aston Martin stock lately? It's just
[0:23] Speaker 3: doing very badly? And uh huh it's I mean, I
[0:28] Speaker 3: pulled up the I always look at the comp on
[0:31] Speaker 3: the Bloomberg termino. There's comp which defaults to a five
[0:35] Speaker 3: year view and then it compares the stock to whatever
[0:38] Speaker 3: indexes it's on and stuff. Aston Martin stock is down
[0:42] Speaker 3: ninety percent in five years. Yeah, ninety percent.
[0:50] Speaker 4: Yes, yeah, it's not good.
[0:54] Speaker 1: It's not good.
[0:55] Speaker 2: I mean to the people who love the brand so much,
[0:59] Speaker 2: like when you point that out, they get really upset
[1:04] Speaker 2: because obviously the brand is so beloved.
[1:07] Speaker 3: But yes, it's not my fault. I'm just I got
[1:10] Speaker 3: a message from somebody who said, uh, let me see,
[1:13] Speaker 3: let me go back and find it. I won't name him,
[1:15] Speaker 3: but he says, have you viewed Aston Martin lately? Auci
[1:19] Speaker 3: I love the car No, a guy named David. He says,
[1:25] Speaker 3: I love the cars, but they can't seem to get
[1:28] Speaker 3: to free cash flow, unlike Yes, which is Ferraria.
[1:32] Speaker 4: Yeah yeah, yeah yeah.
[1:34] Speaker 2: Did you do you follow Lamborghini ks on Instagram? Chris
[1:38] Speaker 2: Sing No, you should follow him. He He had some
[1:42] Speaker 2: spicy comments about the Valkyrie on on an Instagram post today.
[1:47] Speaker 1: Very apropodu to this topic. Yeah, I'll let you check
[1:52] Speaker 1: it out.
[1:52] Speaker 3: Well, I'll check it out. But man, everybody just wants
[1:56] Speaker 3: to be Ferrari, and Aston Martin is the first from it.
[2:00] Speaker 2: Let me tell you one thing though, speaking of Ferrari,
[2:03] Speaker 2: and this is going to lead into our topic. So
[2:06] Speaker 2: I'm in Miami. There are a bunch of car auctions here.
[2:08] Speaker 2: There's Mode Miami and Amelia Island happening this month in Florida.
[2:13] Speaker 2: I actually counted, and I talk about this with Steve Serio,
[2:16] Speaker 2: our guest today.
[2:18] Speaker 1: There are fourteen Porschas that.
[2:21] Speaker 2: Are estimated to be valued over a million dollars at
[2:25] Speaker 2: these auctions this week and only twelve Ferraris, so which
[2:30] Speaker 2: is unusual because Porsche's were never valued higher than Ferraris,
[2:35] Speaker 2: or even as high as Ferraris for a long time,
[2:38] Speaker 2: for many years. And speaking of everyone wants to be Ferrari,
[2:41] Speaker 2: we're not saying that Porsche's Ferrari yet, but there are
[2:44] Speaker 2: a lot of million dollar.
[2:45] Speaker 4: Porsches out there.
[2:46] Speaker 3: Yeah, that's crazy.
[2:48] Speaker 4: Yeah, it's wild.
[2:49] Speaker 2: It's actually and I actually misspoke when you'll hear in
[2:52] Speaker 2: the interview with Steve, I said there were equal amounts
[2:55] Speaker 2: twelve and twelve, but I went back and counted after
[2:57] Speaker 2: I spoke on the podcast, and they're actually fourteen. Porsche
[3:02] Speaker 2: is valued at more than a million dollars, including an
[3:04] Speaker 2: eight million dollar roof yellow Birds so kind of nuts.
[3:08] Speaker 3: Ah the yellow Bird? Wait, yes, okay, I saw there
[3:12] Speaker 3: was a cool other people's porschees where I'm pretty sure
[3:16] Speaker 3: Magnets is driving with a roof, right.
[3:19] Speaker 2: Yes, with a daughter, yes, yes, with Aluisa. Yes, very
[3:24] Speaker 2: very nice woman, really sweet and great sense of taste
[3:28] Speaker 2: and style and great driver as well.
[3:31] Speaker 3: I'm not trying to promote other media, you know, it's
[3:35] Speaker 3: just I mean, really good show.
[3:38] Speaker 2: We're not threatened. We hey like you know, we're we
[3:41] Speaker 2: got our thing going right, true.
[3:43] Speaker 3: I'm sure you know we talk about all the time
[3:46] Speaker 3: that you know, younger people are going to these auctions
[3:49] Speaker 3: buying cars, so younger cars are selling for the high price,
[3:53] Speaker 3: and that makes sense to me then that Porsche is
[3:55] Speaker 3: starting to catch up a bit with Ferrari because they
[3:59] Speaker 3: are really younger.
[4:00] Speaker 1: Right, Yes, well that's a great point.
[4:03] Speaker 2: I was just I literally just came from the auction
[4:06] Speaker 2: preview tent before we are recording this on Friday afternoon,
[4:09] Speaker 2: and most of the Porsches that are over a million
[4:14] Speaker 2: dollars are not the three five six's or the plastic
[4:17] Speaker 2: porsches or the racing porches. They're the more modern stuff,
[4:20] Speaker 2: like you're saying, like the nine to five nines. There's
[4:22] Speaker 2: a nine to eighteen spy, a couple nine eighteens, some Kara. It's,
[4:27] Speaker 2: to your point, the more modern stuff. So this feels
[4:31] Speaker 2: like a shift.
[4:33] Speaker 3: Yeah, because all due respect to like Stephen Harris, you
[4:37] Speaker 3: know that workitect who has a ton.
[4:39] Speaker 1: Of sure, yes you can do his house, right.
[4:42] Speaker 3: Yeah, it's not really When I say Porsche's younger, I
[4:46] Speaker 3: don't literally mean the companies younger. And I think the
[4:50] Speaker 3: company even predates well World War two to some extent, right,
[4:55] Speaker 3: So of course, yes, and Ferrari wasn't founded until nineteen forty,
[5:01] Speaker 3: But I just mean like the hot cars, like the
[5:05] Speaker 3: real body of work for Portia, I think after the
[5:08] Speaker 3: three fifty six and stuff, you know, the nine to
[5:10] Speaker 3: eleven really starts later like post nineteen sixty four.
[5:14] Speaker 1: Right.
[5:15] Speaker 2: You know a lot of people jokingly refer to the
[5:17] Speaker 2: three five six as just a beetle with a different
[5:20] Speaker 2: badge on it, which is true and not true, but
[5:23] Speaker 2: you kind of get what they're saying.
[5:25] Speaker 3: I totally get it, and I wouldn't go that far.
[5:28] Speaker 3: Like I love the look of a speedster, and but
[5:33] Speaker 3: h I wouldn't really want to invest my money. It's
[5:36] Speaker 3: it's like a four cylinder motor, you know. Yeah, I
[5:40] Speaker 3: don't want to spend anillion dollars on that?
[5:43] Speaker 1: Can I just ask you?
[5:44] Speaker 2: And this is a wild change of direction, but are
[5:46] Speaker 2: you going to be buying, spending your money on a
[5:48] Speaker 2: new Harley Davidson anytime soon?
[5:51] Speaker 3: So I am going to be No, you are, but
[5:55] Speaker 3: not because I mean I have planned on that for
[5:57] Speaker 3: a long time and or at least a year, and
[6:01] Speaker 3: my wife has a rule that I can only buy
[6:05] Speaker 3: one vehicle at fair a year, right, So this year
[6:10] Speaker 3: my choice isn't and has been a Harley Davidson. I've
[6:14] Speaker 3: been researching like crazy, but I did go to Austin
[6:17] Speaker 3: and ride the new twenty twenty five Cruiser lineup with
[6:20] Speaker 3: Harley Davidson and the most exciting part was the people
[6:26] Speaker 3: that I was riding with, Like the Harley crew is
[6:29] Speaker 3: such a passionate employee base. One of the lead PR people,
[6:38] Speaker 3: Jen Hoyer, is married to Mark Hoyer, and when I
[6:42] Speaker 3: when that clicked, I was.
[6:43] Speaker 1: Like, what, I did not know they were married?
[6:46] Speaker 2: Yeah?
[6:46] Speaker 1: Serious, I mean.
[6:47] Speaker 3: To me, he's a celebrity because I've grown up reading
[6:50] Speaker 3: Mark Hoyer, you know, I like listen to his podcast.
[6:53] Speaker 3: So I was, and she's awesome and she's been you know,
[6:57] Speaker 3: in the business, yeah for like twenty years. And yeah,
[7:01] Speaker 3: I got to meet Paul Weiss, who runs engineering for
[7:05] Speaker 3: the softail lineup. Totally cool guy who's like Wisconsin through
[7:10] Speaker 3: and through, rides seventy minutes each way to work commutes
[7:13] Speaker 3: on a bike obviously, And then and then I got
[7:17] Speaker 3: to meet the guys who were leading the ride were
[7:20] Speaker 3: these King of the Bagger racers, so James Rispolli, Kyle Wyman,
[7:28] Speaker 3: Travis Wyman, Cody Wyman, these three brothers who like all
[7:30] Speaker 3: ride for Harley. And it's so fun to hang out
[7:35] Speaker 3: with kids who are racers because they've grown up in
[7:38] Speaker 3: the paddock but they're still only like twenty years old,
[7:40] Speaker 3: and especially in this segment because it started kind of
[7:45] Speaker 3: as a fluke in twenty twenty race between big giant
[7:49] Speaker 3: heavy like eight hundred pound Harley's versus eight hundred pound Indians,
[7:53] Speaker 3: and who would have thought that was going to take
[7:55] Speaker 3: off and has become incredibly popular.
[7:58] Speaker 1: That's so cool. Yeah, So did you have a favorite
[8:02] Speaker 1: of the of the bikes?
[8:03] Speaker 3: Yeah, for sure.
[8:05] Speaker 4: Okay.
[8:05] Speaker 3: It's also funny because so I'm six three and all legs, Like.
[8:10] Speaker 2: I noticed that on your photos on Instagram, right, you
[8:12] Speaker 2: put some photos up and it's like half legs.
[8:15] Speaker 3: Right, So normal people, even who are my height, don't
[8:18] Speaker 3: have the same end seam. And as a result, on
[8:20] Speaker 3: the first day, we were riding the Breakout, which isn't
[8:24] Speaker 3: really my style, you know, it's for profiling. It's got
[8:26] Speaker 3: that big front wheel and huge fat rear tire which
[8:31] Speaker 3: I don't see it. We were riding the Fat Boy,
[8:33] Speaker 3: which is kind of cool. I like, you know, Terminator too,
[8:36] Speaker 3: just as much as the next guy, but it's not
[8:38] Speaker 3: a bike for me. It's not why I'm what I'm after.
[8:40] Speaker 3: And then we rode the street Bob, which it has
[8:43] Speaker 3: mid controls and I could barely get on it, like
[8:47] Speaker 3: it was like my legs, my knees were hitting me
[8:51] Speaker 3: in the face. So but so I'm like laughing as
[8:55] Speaker 3: I'm riding that bike, and I thought for the next day,
[8:58] Speaker 3: I knew we were riding the Heritage, which is, you know,
[9:03] Speaker 3: again an older not really my style, but I'm it's cool,
[9:05] Speaker 3: but I'm not into it. And then the lowrider s
[9:08] Speaker 3: and the Lowrider st those are the bikes that I
[9:10] Speaker 3: really wanted to ride, but their mids also, and when
[9:13] Speaker 3: I can figure them on the Harley website, I always
[9:16] Speaker 3: put you can put forward controls because it's like a
[9:18] Speaker 3: made to measure, you know, vehicle. But at the press
[9:23] Speaker 3: launch they didn't have They only had the mids. So
[9:24] Speaker 3: I was like, I guess I will only ride the
[9:27] Speaker 3: Heritage tomorrow and won't be able to ride the low Riders.
[9:31] Speaker 3: But then sort of halfway through the day for one
[9:33] Speaker 3: of the photo shoots, I just said, let me jump
[9:34] Speaker 3: on a low rider and do a couple passes.
[9:37] Speaker 4: You couldn't resist.
[9:38] Speaker 3: Unbelievable. Like the high output one hundred and seventeen in
[9:44] Speaker 3: cubic inch motor, they have a totally different obviously, they
[9:49] Speaker 3: have a totally different cam and a totally different tune.
[9:52] Speaker 3: So it's a like each bike is completely has its
[9:55] Speaker 3: own character, even though they're all the same motor and
[9:58] Speaker 3: they're all the same frame, and the I mean, the
[10:01] Speaker 3: thing just takes off like you put it in sport mode,
[10:04] Speaker 3: which they now have modes on these bikes. It's kind
[10:06] Speaker 3: of a newish thinking hardly and it was unbelievable, like
[10:11] Speaker 3: a slightly scary ride, which is kind of what I'm after.
[10:15] Speaker 3: Like it's like a puckering thing when you're when you
[10:19] Speaker 3: twist the throttle and you don't expect it to give
[10:22] Speaker 3: as much gas as it does, and when it's it's
[10:25] Speaker 3: much more flickable than you expect a Harley Davidson, like
[10:28] Speaker 3: a big deal motorcycle to be, you know, and it's
[10:32] Speaker 3: very nimble.
[10:35] Speaker 4: And I.
[10:37] Speaker 3: Interrupt, it's got a way, no, please interrupt as much
[10:39] Speaker 3: as you can. It's got a weigh six hundred and
[10:41] Speaker 3: sixty pounds. I'll google it, but it's it's gonna weigh
[10:44] Speaker 3: close to seven hundred pounds basically.
[10:46] Speaker 4: That is so heavy.
[10:48] Speaker 3: Yeah, I know, but you don't feel it all because
[10:52] Speaker 3: and I had never been either, Hannah, I had never
[10:55] Speaker 3: ridden a bike this heavy. And I kept telling these
[10:57] Speaker 3: guys like I'm used to do Kadi's Like, you know,
[10:59] Speaker 3: a four hundred fifty pound multi Strata is the heaviest
[11:03] Speaker 3: bike I've ever ridden. And by the way, on the
[11:05] Speaker 3: multi Strata you can kind of feel it because it's
[11:07] Speaker 3: that weights high up right, Yes, but this weight is
[11:11] Speaker 3: so low, the center of gravity is so low that
[11:13] Speaker 3: you really don't notice it at all.
[11:17] Speaker 2: Wow, that's interesting. That's really so. Is this the bike
[11:21] Speaker 2: that you're going to be getting?
[11:23] Speaker 3: No, No, I want the Fat Bob, which is a
[11:27] Speaker 3: bike that they stopped making in twenty twenty three. All right,
[11:32] Speaker 3: but it is a soft tail, it's a new soft tail.
[11:35] Speaker 3: It has the same it has one hundred and fourteen
[11:37] Speaker 3: cubic inch motor. It's no slouch.
[11:41] Speaker 1: But it's how much does the writer st the lowriter
[11:44] Speaker 1: st the lowrider.
[11:46] Speaker 3: St starts for twenty one grand? I mean, these are
[11:50] Speaker 3: not cheap bikes, right. The cheapest bike that they make
[11:53] Speaker 3: of the Big Twins is I think seventeen thousand for
[11:57] Speaker 3: the Street Bob. So they're really pushing into luxury territory
[12:03] Speaker 3: for a motorcycle or I would say that, although I
[12:05] Speaker 3: guess motorcycle prices in general are so high lately, but
[12:08] Speaker 3: you know, like one of the racers that we were
[12:14] Speaker 3: with was so excited because he's just ordered his own
[12:17] Speaker 3: Cvo road Glide, and I was like, that's so cool,
[12:20] Speaker 3: you know, for a twenty year old kid to get
[12:22] Speaker 3: a bike that is forty five thousand dollars.
[12:26] Speaker 1: It's insane.
[12:27] Speaker 3: That's a lot for a motorcycle for like a twenty
[12:29] Speaker 3: year old kid, right, I think.
[12:31] Speaker 1: I mean, in my mind instantly go to what cars
[12:33] Speaker 1: could I buy for that?
[12:34] Speaker 5: Yeah?
[12:34] Speaker 3: For sure?
[12:35] Speaker 4: You know, yeah, yeah.
[12:37] Speaker 2: Was there any talk of how, you know, supposedly Harley
[12:42] Speaker 2: Davidson is really aging and motorcycle riding is going out,
[12:46] Speaker 2: and you know there was before.
[12:49] Speaker 3: I mean, you know, it's funny. Before I went there,
[12:51] Speaker 3: one of the people on my TV team sent me
[12:53] Speaker 3: a promotion which was, if you come in and test
[12:57] Speaker 3: dride to Harley, you get a free proctology exam.
[13:01] Speaker 1: Which no, was that real? Was that real?
[13:03] Speaker 3: It was real? And it totally tracks like I'm fifty,
[13:06] Speaker 3: it's time for both things like now I'm going to
[13:09] Speaker 3: get into Harley's and I'm gonna have to start checking
[13:11] Speaker 3: out my prostate.
[13:12] Speaker 1: You know, oh that is so bad.
[13:14] Speaker 3: But no, most of the talk in Austin was about
[13:18] Speaker 3: just how expensive motorcycles are because people are trying to
[13:22] Speaker 3: put their finger on why aren't kids riding as much?
[13:25] Speaker 3: And you have somebody like Giddy and Litchfield. I mean,
[13:28] Speaker 3: the guy must be scared of his own shadow. His
[13:30] Speaker 3: idea is that, you know, it's too dangerous for this
[13:33] Speaker 3: new generation. But that's not right. No, come on, no, certainly,
[13:36] Speaker 3: not kids will do anything dangerous? Is a draw. I
[13:40] Speaker 3: think it's that they're expensive. Like what kid has seventeen
[13:44] Speaker 3: thousand dollars of disposable income at you know, seventeen, eighteen,
[13:47] Speaker 3: nineteen years old.
[13:49] Speaker 2: And it's gonna buy a bike instead of a car.
[13:51] Speaker 2: That's the other thing, Like maybe you do have that much,
[13:54] Speaker 2: but you're probably not gonna buy a motorcycle.
[13:56] Speaker 3: No not, I mean most of America. That just doesn't
[13:58] Speaker 3: make sense.
[14:00] Speaker 1: Yeah, and uh interesting.
[14:03] Speaker 3: I mean, look, motorcycle prices have been going up for
[14:05] Speaker 3: thirty years, wages have been stagnant. So yeah, that's why
[14:10] Speaker 3: people are buying these royal enfields they're selling.
[14:14] Speaker 2: So I was just gonna I was just going to say,
[14:17] Speaker 2: I would be very curious to see, for instance, even
[14:20] Speaker 2: do Cottie's sales of their more Cafe Eraser, the scrambler type.
[14:24] Speaker 2: They're smaller, lighter, more basic bikes. I would just be
[14:28] Speaker 2: very curious, not the profits from those bikes, but how
[14:31] Speaker 2: the sales are doing, because those are way more attainable,
[14:35] Speaker 2: I think for sure, trying to get younger, new people
[14:38] Speaker 2: into it.
[14:38] Speaker 3: You need look no further than bankrupt KTM. Right, they
[14:44] Speaker 3: can't move their twenty thousand dollars super dukes, which are
[14:48] Speaker 3: the most beloved motorcycles out there. From like a critical perspective,
[14:53] Speaker 3: like you know, Motorcycle Magazine riders love the thirteen ninety
[14:57] Speaker 3: super Duke. It's a beast literally, but those don't sell.
[15:01] Speaker 3: They sell the three ninety, they sell the little ones,
[15:05] Speaker 3: you know, they sell the dirt bikes because they're attainable.
[15:09] Speaker 2: Yeah, it's not such a and like it's not such
[15:12] Speaker 2: a big deal, you know. Again, like I would say,
[15:15] Speaker 2: I am not a die hard rider. I don't need
[15:17] Speaker 2: to ride to live and to feel normal, and I
[15:19] Speaker 2: know some people do.
[15:21] Speaker 1: But it's fun.
[15:22] Speaker 2: I do enjoy it, and I have to think I'm
[15:24] Speaker 2: not the only one that like, you know, likes the
[15:27] Speaker 2: likes riding, likes having a bike, but I don't. I'm
[15:29] Speaker 2: not going to spend a ton of money. I just
[15:32] Speaker 2: need something more fun and easy and not a reclining
[15:37] Speaker 2: chair on wheels, so to speak.
[15:40] Speaker 3: That's a bad rep you know. I was thinking about
[15:43] Speaker 3: that when I was riding the Heritage Classic around because
[15:46] Speaker 3: it literally it's so comfortable that yeah. Yeah, and it's agricultural,
[15:52] Speaker 3: you know, in the way, but they do that on purpose.
[15:55] Speaker 3: There is something to be said for riding around on
[15:57] Speaker 3: a living room sofa, Like it's you're still part of
[16:02] Speaker 3: the scenery, right, there's no, you're not stuck in a box.
[16:05] Speaker 3: And I don't wear a full face helmet all the time,
[16:09] Speaker 3: so like you're out in the open, and so it's
[16:14] Speaker 3: I think it's still enjoyable. Now, it's not really my
[16:16] Speaker 3: cup of tea either. I want to I want to
[16:20] Speaker 3: be throwing the bike into corners and you know, kicking
[16:26] Speaker 3: out the rear wheel. But I think I think there's
[16:29] Speaker 3: something to be said for especially as people get you know, older,
[16:31] Speaker 3: and need proctology exams.
[16:35] Speaker 1: Oh that's too funny, that's so good.
[16:38] Speaker 3: By the way, I have some news. There's news coming
[16:42] Speaker 3: on Harley next week that I think you specifically will
[16:46] Speaker 3: find really interesting, but I can't share.
[16:49] Speaker 1: Is it something you can share now.
[16:50] Speaker 3: Nope, it's under embargo.
[16:51] Speaker 4: Okay, we'll talk about it next week.
[16:54] Speaker 3: Yeah, right for sure, Yeah, one hundred percent.
[16:58] Speaker 1: I'll look forward to that. I can't wait to hear.
[17:02] Speaker 3: Have you been driving anything fun? I have you?
[17:06] Speaker 1: Actually?
[17:06] Speaker 2: I am in a BMW M five that our friends
[17:10] Speaker 2: at BMW have loaned me while I'm in Miami, so
[17:14] Speaker 2: I haven't Yeah, yeah, I haven't driven it that much
[17:19] Speaker 2: because I literally landed at the airport at five o'clock
[17:21] Speaker 2: last night and just drove, you know, five miles from
[17:24] Speaker 2: the airport to the hotel.
[17:26] Speaker 4: So I haven't driven it much yet.
[17:27] Speaker 2: But that is what I am and this weekend and
[17:30] Speaker 2: we'll be reviewing, and I'm excited. I haven't been in
[17:32] Speaker 2: a BMW in a minute, so I'm excited about that.
[17:36] Speaker 2: And then let's see I've got I think I've got
[17:41] Speaker 2: some more Mercedes next week. Oh but you know what
[17:46] Speaker 2: I'm also really looking forward to. And I think I
[17:49] Speaker 2: said the Cadillac Escalade IQ.
[17:53] Speaker 3: I saw I saw one on the road in Austin. Yeah,
[17:56] Speaker 3: the whole group of us on the road. The whole
[17:58] Speaker 3: group of us was riding back to Barton Creek, and
[18:03] Speaker 3: I look ahead of me and I see, I'm like,
[18:06] Speaker 3: that looks like an escalade but also like a range Rover.
[18:10] Speaker 3: And wait is that it couldn't be Yes, it is
[18:13] Speaker 3: the Cadillac IQ, and I was super pumped. All the
[18:16] Speaker 3: moto journalists were like what huh nobody?
[18:19] Speaker 1: Uh did you see who was driving it?
[18:20] Speaker 4: Was it?
[18:21] Speaker 1: Who? What type of person?
[18:22] Speaker 3: It was like a soccer mom driving it?
[18:25] Speaker 1: Oh way?
[18:26] Speaker 3: Wow? I mean I'm not sure. I didn't see the driver,
[18:29] Speaker 3: so I don't know. But it was like a regular
[18:31] Speaker 3: It wasn't any kind of uber or like corporate uh
[18:37] Speaker 3: you know, limousine.
[18:39] Speaker 5: It was.
[18:39] Speaker 3: It was a dirty, already dirty like local vehicle.
[18:44] Speaker 4: Cool. Well, I'm excited.
[18:46] Speaker 2: I mean, I remember they've been talking about it for
[18:49] Speaker 2: a long time, so I'm excited to drive.
[18:50] Speaker 1: I'll drive that in a week or two.
[18:52] Speaker 2: Speaking of Cadillac, I also finally saw for the first
[18:55] Speaker 2: time today the Celestic there high end luxury wag anything
[19:02] Speaker 2: that they're going to try to take.
[19:04] Speaker 1: On World's Royce with. I saw it today. Have you
[19:07] Speaker 1: seen that in person?
[19:08] Speaker 3: No?
[19:08] Speaker 1: Or no?
[19:09] Speaker 4: Yeah?
[19:10] Speaker 3: I don't think of when you say the Wagony, I
[19:12] Speaker 3: think of what's the other one they have that's like
[19:14] Speaker 3: the other electric the lyric lyrics, the lyric.
[19:19] Speaker 1: Yeah, this one is lower and longer than that. But
[19:22] Speaker 1: it has like a you know, a bit of a
[19:25] Speaker 1: station wagon back end.
[19:26] Speaker 3: But didn't you drive like a production, a pre production
[19:30] Speaker 3: version of that?
[19:31] Speaker 4: Oh I didn't. I would really like to.
[19:34] Speaker 2: I think at one point I might have been close
[19:37] Speaker 2: to it and it. Honestly, it seems like they keep
[19:40] Speaker 2: pushing pushing back dates and things around.
[19:45] Speaker 3: It looks French to me.
[19:47] Speaker 2: Well, some of the designers are French. Some of the
[19:50] Speaker 2: people working. It's like the team that's making it is
[19:52] Speaker 2: mostly women. And yeah, there are several Europeans on that team,
[19:57] Speaker 2: so they'll probably be happy to hear you say that.
[20:00] Speaker 3: I didn't mean it in a good way.
[20:03] Speaker 2: Anybody calls something French, I think that is the height
[20:08] Speaker 2: of sophistication and luxury.
[20:10] Speaker 3: I mean, I know that there are people who prize
[20:13] Speaker 3: their Citroyan.
[20:14] Speaker 1: You've been in Texas too long?
[20:16] Speaker 3: Yeah, No, I prefer the Escalade IQ.
[20:21] Speaker 4: All right.
[20:21] Speaker 1: Well, to each to each their own.
[20:23] Speaker 3: I'm actually I actually I need to call someone at
[20:27] Speaker 3: Cadillac and hopefully they don't listen to this, and and
[20:30] Speaker 3: say when can I drive an Escalade IQ? Because if
[20:33] Speaker 3: there are you know, retail people out there in one
[20:35] Speaker 3: already completely.
[20:37] Speaker 1: And then as to apples.
[20:40] Speaker 3: And I love all of like all the GMC big
[20:44] Speaker 3: electro trucks. I've driven the GMC Hummer, and I've driven
[20:47] Speaker 3: the GMC Sierra EV and I love them.
[20:51] Speaker 4: Yeah.
[20:52] Speaker 1: I had so much fun in the Hummer.
[20:54] Speaker 2: Honestly, I was not thinking it would be anything particular.
[20:59] Speaker 2: I don't know, I just want to went in not
[21:01] Speaker 2: really knowing what to expect.
[21:03] Speaker 1: It was so fun. I mean it was. It was
[21:07] Speaker 1: so fun. It really put a smile on my face.
[21:09] Speaker 1: And what more can you ask for?
[21:10] Speaker 3: That's what it's all about. M m all right, should
[21:13] Speaker 3: we get to Steve Cereal?
[21:15] Speaker 2: Yeah, this was a conversation that I had with Steve
[21:18] Speaker 2: while Matt was off writing Harley's in Austin, So you
[21:23] Speaker 2: were definitely missed, Matt. But we tried to cover some
[21:26] Speaker 2: good ground about what's happening in the classic car world,
[21:30] Speaker 2: the auctions going into the summer. And it's great because gosh,
[21:35] Speaker 2: Steve has been in this industry for thirty years and
[21:38] Speaker 2: I think he's probably our most frequented frequented guest on
[21:44] Speaker 2: the show.
[21:45] Speaker 1: At this point. Possibly I think this is his third
[21:48] Speaker 1: time coming on.
[21:50] Speaker 3: Well, but I'm excited to listen. Let's play the tape.
[21:54] Speaker 2: I want to just start with kind of a quick
[21:57] Speaker 2: recap of Paris. I know you were just at Retromobile
[22:01] Speaker 2: and I kind of heard through the grape vine that
[22:04] Speaker 2: Paris was strong on sell through rates but sort of
[22:07] Speaker 2: weak on values.
[22:09] Speaker 1: I'm wondering if that was your.
[22:11] Speaker 2: Takeaway, and is that an indicator for what we can
[22:14] Speaker 2: expect going into the spring with the Florida auctions.
[22:18] Speaker 5: Well, I think Paris, I mean was interesting on a
[22:21] Speaker 5: multitude of levels. I went to go try and buy
[22:25] Speaker 5: a few things, which I failed at because there wasn't
[22:28] Speaker 5: enough of a spread between I'll put it in another way,
[22:31] Speaker 5: there were no bargains there. And I think if you
[22:33] Speaker 5: were a European end user, if you were looking for
[22:37] Speaker 5: a particular car from especially the older things again from
[22:41] Speaker 5: the fifties and sixties, which have I think they've hit
[22:45] Speaker 5: there in the deer they've gone, They've gone to their
[22:48] Speaker 5: point of correction, and now people are jumping back in,
[22:52] Speaker 5: going all right, these have come down enough in the
[22:55] Speaker 5: last twenty four or thirty months, and it's time to
[22:58] Speaker 5: buy something. And if you were an user looking for
[23:01] Speaker 5: an old Aston Martin, looking for a certain Ferrari, looking
[23:04] Speaker 5: for Jagger, whatever it was, that was the time to
[23:07] Speaker 5: buy something. So there, you know, with all of the
[23:12] Speaker 5: the myriad of fees and taxes and VAT, you gotta
[23:16] Speaker 5: have to sit there as an American and go, what
[23:19] Speaker 5: is this actually going to cost me? So if I
[23:20] Speaker 5: add twenty percent to the final hammer price, I should
[23:24] Speaker 5: be okay exporting the car to the States. Yeah, the
[23:29] Speaker 5: cell through numbers were strong. I mean I have said,
[23:32] Speaker 5: you know Bonhom's in their beautiful Grand Pelee display had
[23:39] Speaker 5: I thought, and this is I'll try not to be
[23:41] Speaker 5: unkind because my consolieri Sid said, don't say anything that
[23:46] Speaker 5: will get you in trouble with Bloomberg. We don't want
[23:50] Speaker 5: to be edited out being honest. I think that. I mean,
[23:53] Speaker 5: the cars were for the most part incredibly subpar, and
[23:56] Speaker 5: they to their credit. I mean, and I'm talking about condition,
[23:59] Speaker 5: I'm not talking about you know models. They had some
[24:02] Speaker 5: very desirable models. They had some, Yeah, they had they
[24:06] Speaker 5: had some a handful of very desirable and oddball things.
[24:09] Speaker 5: But between art Curial RM and Bonhams, if I were
[24:17] Speaker 5: writing the reviews, bonhom has knocked the ball out of
[24:19] Speaker 5: the park with what they realized for these cars. I mean,
[24:22] Speaker 5: I'm I'm still shocked at sometimes the and this is
[24:26] Speaker 5: r M excluded the lack of quality and presentation with
[24:32] Speaker 5: some of the European auction houses. And you know, let's
[24:35] Speaker 5: not clean the car, let's not vacuum it out, Let's
[24:38] Speaker 5: not clean out the glove boxes. Let's not present them
[24:40] Speaker 5: as best we can. It's just not important to the
[24:44] Speaker 5: buyer there.
[24:45] Speaker 2: I guess has it always been like that in Europe?
[24:47] Speaker 5: Yeah, I've always walked I mean I've walked through the
[24:49] Speaker 5: art curial auctions and kind of gone really cigarettes and
[24:53] Speaker 5: the ashtray guys, I mean.
[24:54] Speaker 2: Over in Paris, I don't know Juliette Binoche smoke, which
[25:00] Speaker 2: one left it there? I'd leave that too.
[25:02] Speaker 5: Yeah, to be so lucky we can pull some DNA
[25:06] Speaker 5: off this and cloud Cloner. Yeah, it's so. To your
[25:11] Speaker 5: original question, I think Bonhams knocked the ball out of
[25:14] Speaker 5: the park. I mean, RM, everybody was waiting for the
[25:17] Speaker 5: LM to sell for big dollars, and you and I
[25:20] Speaker 5: and we talked about it prior to it did sell
[25:22] Speaker 5: for big dollars. There was plenty of spirited bidding, and
[25:26] Speaker 5: it sold for I don't know, maybe ten percent more
[25:29] Speaker 5: than what some of us thought. But RM had a
[25:32] Speaker 5: great sell through rate. They had fantastic presentation. When you're
[25:37] Speaker 5: you know, you're in the basement of the louver, it's
[25:41] Speaker 5: tough to be it really is. And I was I
[25:45] Speaker 5: was really wholeheartedly impressed with what Art Curial had to offer.
[25:50] Speaker 5: I mean, they had some big Ferraris, they had some
[25:53] Speaker 5: big Bentley's that there were. There was a smattering of cars,
[25:56] Speaker 5: and if you dissect the cattle, a lot of it
[26:01] Speaker 5: is the stuff that I guess guys like myself and
[26:05] Speaker 5: a handful of people who have dealt in this era
[26:07] Speaker 5: car for thirty years. It's all the stuff that's kind
[26:10] Speaker 5: of not in vogue right now. And they still an example,
[26:14] Speaker 5: pick any of the Alpha Montreal or that comes to mind,
[26:19] Speaker 5: or any of the Jags, the early x k's. There
[26:24] Speaker 5: was an absolutely heinous colored, non original color three fifty
[26:27] Speaker 5: six portsche Speedster that still did okay. And then there
[26:32] Speaker 5: was one collection of one. Gentleman gave them four Bentley's
[26:36] Speaker 5: to sell. The early cars did not sell, which are
[26:40] Speaker 5: difficult to sell. One of the later Bentley convertibles, late
[26:45] Speaker 5: eighties cars sold, So it's a lot of that stuff
[26:49] Speaker 5: that is just not of of the minute, is not fashionable.
[26:52] Speaker 5: And I think the other side of that is if
[26:56] Speaker 5: you've wanted one, now's kind of the And that's I'm
[27:01] Speaker 5: not trying to have a self fulfilling prophecy and to
[27:05] Speaker 5: sort of say, yes, go out and buy a car,
[27:07] Speaker 5: and you know, engage your local person like myself to
[27:10] Speaker 5: go out and get it for you. But I mean,
[27:12] Speaker 5: I'm speaking from the heart. I mean I've purchased a
[27:15] Speaker 5: couple of cars from you know, the fifties and sixties
[27:19] Speaker 5: in the last year that I had no business trying
[27:23] Speaker 5: to afford ten years ago, And because there were a
[27:27] Speaker 5: third of what they were ten years ago, I thought, well,
[27:31] Speaker 5: I'm going to live by my rule of buy this
[27:34] Speaker 5: because you love it and you want to drive it,
[27:37] Speaker 5: and don't know, if you can actually walk away from
[27:40] Speaker 5: something breaking even or making a little bit of money
[27:44] Speaker 5: or losing a little bit of money, you've succeeded. Yes,
[27:48] Speaker 5: And that's been my own credo since I started in
[27:51] Speaker 5: nineteen eighty seven. Don't don't look at this as you
[27:54] Speaker 5: know investment. There are sure things to invest in this market,
[28:01] Speaker 5: the more modern cars are more of a sure thing
[28:05] Speaker 5: until they're not.
[28:08] Speaker 4: So.
[28:09] Speaker 2: Going into the Florida sales, both Mode of Miami in
[28:13] Speaker 2: Coral Gables and then of course the Amelia at Amelia Island,
[28:17] Speaker 2: what are you expecting to see in general the same
[28:21] Speaker 2: attitude and also I want to hear like specific cars
[28:25] Speaker 2: that you're going to be watching as significant in some way.
[28:30] Speaker 5: Yeah, I think I think this is, you know, the
[28:34] Speaker 5: equivalent this week in Florida or these ten days are
[28:39] Speaker 5: the equivalent of what Arizona used to be for my world. Yeah,
[28:43] Speaker 5: the Scottsdale sales, Yes, I think now with Gooding and
[28:48] Speaker 5: broad Arrow at Amelia Island and RM taking over Mode
[28:51] Speaker 5: of Miami, this is the real benchmark for where we're
[28:56] Speaker 5: going to be in the first and second quarter of
[28:58] Speaker 5: the year. Really as a run up into the summertime,
[29:03] Speaker 5: this should set some kind of pace. I think RM
[29:09] Speaker 5: benefits from that first night of their eight I think
[29:12] Speaker 5: it's eight lots that are coming out of the Yes
[29:16] Speaker 5: and one thing about before I forget about this because
[29:18] Speaker 5: it ties in I was talking to in Paris. I
[29:22] Speaker 5: was talking to a great many people who are all
[29:24] Speaker 5: lamenting the fact that you know, the German economies in
[29:27] Speaker 5: the toilet. The French aren't really buying a lot of cars,
[29:29] Speaker 5: the Italians aren't robust right now, and the Netherlands is
[29:35] Speaker 5: kind of okay. The UK market is a little softer
[29:39] Speaker 5: than it should be. I think what I took away
[29:42] Speaker 5: from it was, especially from the German dealers, that the
[29:46] Speaker 5: brick and mortar stores and the folks normally walking in
[29:51] Speaker 5: and requesting certain things are not buying cars. But the
[29:57] Speaker 5: really wealthy top of the food chain guys are spending
[30:00] Speaker 5: all the money and they're seeing I mean, and I'm
[30:03] Speaker 5: talking about collections. It could be ten or two hundred cars.
[30:07] Speaker 5: These guys are coming in going well, everything will buy
[30:11] Speaker 5: on the dip. And now we now see things that
[30:15] Speaker 5: you know, X, Y and Z are on our you
[30:18] Speaker 5: know radar. And what made me think of that is
[30:21] Speaker 5: the nineteen oh seven Mercedes that RM has coming up,
[30:25] Speaker 5: that came out of the Indie Museum, and I know
[30:27] Speaker 5: there were two very prominent German buyers on you know,
[30:31] Speaker 5: thinking about coming over to bid on the car. And
[30:33] Speaker 5: when you hear that, you know they're not interested in
[30:37] Speaker 5: the pedestrian stuff, but they'll be strength and you know
[30:40] Speaker 5: that car I think the nineteen fifty seven SS Corvette.
[30:44] Speaker 5: We've got the nomenclature right.
[30:46] Speaker 2: Chevy Corvette SS project estimate five to seven million dollars.
[30:50] Speaker 5: Yep, that's I mean talking about Yeah.
[30:53] Speaker 2: The estimate on the Mercedes that you just mentioned is
[30:56] Speaker 2: seven to nine million dollars.
[30:57] Speaker 5: There's there are buyers, and those things cannot be replaced.
[31:03] Speaker 5: They haven't changed hands in forever. There's no you have to,
[31:08] Speaker 5: you know, dig into the history just you know, is
[31:11] Speaker 5: this the real deal? That none of that, none of
[31:14] Speaker 5: that pertains metics been vetted by the Indie Music Museum.
[31:18] Speaker 2: Yeah. I mean, you can't really ask for more than that.
[31:20] Speaker 5: No, And I think, you know, RM starting off strong
[31:25] Speaker 5: with those cars is very wise. I mean I had
[31:29] Speaker 5: a chat with Gord Duff when they got those cars,
[31:31] Speaker 5: and they couldn't have been happier, and I'm happier for them.
[31:33] Speaker 5: I mean, it's it's great. This is gor RM.
[31:37] Speaker 2: Yes, going back to this indie thing, of course, we
[31:40] Speaker 2: all watched the sale of the Mercedes Streamliner and Stute
[31:43] Speaker 2: Gart a couple of weeks ago as well, which was
[31:46] Speaker 2: another part of this Indy Car h or Indie Museum
[31:50] Speaker 2: series of sales. What was your take on that result,
[31:55] Speaker 2: and does that indicate anything for the values of Mercedes
[31:58] Speaker 2: in general or is that sort of you know, out
[32:00] Speaker 2: of a spectrum.
[32:02] Speaker 1: It's its own standalone thing.
[32:03] Speaker 5: That's that's exactly what it is. You just put a
[32:06] Speaker 5: bow around it. It's you know, it's not one of one,
[32:09] Speaker 5: it's one of a handful. It's a thing that you
[32:13] Speaker 5: I hope the person who buys it restores it to
[32:16] Speaker 5: the point where they can use it. And it's not
[32:19] Speaker 5: just static art. But that's that's a It's just like
[32:24] Speaker 5: the car that's sold a few years ago for one
[32:26] Speaker 5: hundred and forty two.
[32:27] Speaker 3: Million dollars now Mercedes, Yeah, it's yeah.
[32:30] Speaker 5: Yeah, the Ulin hout pro you know, sort of prove
[32:33] Speaker 5: that it's just not all Ferrari and Portia and it's Mercedes.
[32:38] Speaker 5: Benz Is. It's significant on every historical level in the
[32:42] Speaker 5: collector car world. And yeah, they don't make sports cars
[32:47] Speaker 5: per se, but boy, when they make something that people
[32:51] Speaker 5: want and it's significant in history, there's no shortage of
[32:55] Speaker 5: interest and people going to buy them. I mean, I
[32:58] Speaker 5: understand the Streamliner is coming back to the United States,
[33:00] Speaker 5: is what I was told. I don't know who the
[33:03] Speaker 5: final bidder was I knew. I think I believe I
[33:06] Speaker 5: know who the underbidder is. But things like that, much
[33:11] Speaker 5: like the handful of cars at Thursday at RM from
[33:14] Speaker 5: the museum, it's it's significant. I think that car was
[33:18] Speaker 5: on the money. I mean it's fifty three.
[33:21] Speaker 2: I think it was the final with all the fees
[33:23] Speaker 2: and everything. So it sounds like what you're saying is,
[33:26] Speaker 2: regardless of whether we're in Europe or in the United States,
[33:30] Speaker 2: the highest echelon bid or the most elite collector is
[33:35] Speaker 2: going to be buying and that remains unaffected.
[33:39] Speaker 5: That's that is a tiny part of the collecting world
[33:43] Speaker 5: and that's completely unaffected. It's it's that part of the population.
[33:51] Speaker 5: I guess, in the grander scheme of what's going on
[33:53] Speaker 5: in the economy of the United States, when they say,
[33:55] Speaker 5: you know, ten percent of the population is spending sixty
[33:57] Speaker 5: percent of the money on luxury goods and items that
[34:01] Speaker 5: you know they're not hurting for money. Well, these guys
[34:04] Speaker 5: just keep adding to their collections that are generational and
[34:07] Speaker 5: they're not buying them to re sell them. They're not
[34:09] Speaker 5: buying them as investments. They're buying them as things that
[34:12] Speaker 5: they want to acquire and appreciate.
[34:15] Speaker 2: Now without getting too political, I am very curious about
[34:19] Speaker 2: we can get you know, for lack of a better word,
[34:23] Speaker 2: the Trump effect, we've got a new person in the
[34:27] Speaker 2: White House, a completely new administration. Is that affecting We've
[34:33] Speaker 2: got you know, lots of things coming down the pike
[34:38] Speaker 2: might affect people with money or without money. How is
[34:42] Speaker 2: that affecting the choices that these buyers are making?
[34:46] Speaker 5: The pike is a traffic jam right now. I don't
[34:50] Speaker 5: know if it's because there's a collision going on or
[34:52] Speaker 5: it's just busy that you know, it's above my pay
[34:58] Speaker 5: grade to talk about the ECONO.
[35:00] Speaker 4: Like never stopped usk.
[35:01] Speaker 5: Yeah, I know, I know, I know. Well, what I
[35:04] Speaker 5: will say is the year leading up to the election,
[35:11] Speaker 5: everybody had an excuse that would make them feel better
[35:16] Speaker 5: to not spend money. Yes, you know what, Well it's
[35:20] Speaker 5: an election year. Well what is that going to do
[35:22] Speaker 5: to you in the car that you want to buy?
[35:24] Speaker 5: At the end of the day, and unless you're working
[35:27] Speaker 5: in Washington and your job may not exist anymore. And
[35:31] Speaker 5: nobody knew that. Nobody knew that, you know that the
[35:34] Speaker 5: administration was going to burn everything to the ground and
[35:36] Speaker 5: then start up again. And you know, effectively lay off
[35:40] Speaker 5: a few hundred thousand people given their opportunity. There was
[35:44] Speaker 5: always an excuse twelve months out, and whether it was
[35:49] Speaker 5: in Israel and Gaza, Ukraine and the Soviets, is China
[35:53] Speaker 5: going to invade Taiwan I'm not happy about. You know,
[35:56] Speaker 5: there's always a reason, and it's it's purely psychological mental masturbation.
[36:03] Speaker 5: I mean, it's all it is. It's just okay, well,
[36:07] Speaker 5: you know, if you're not comfortable enough spending your own money,
[36:10] Speaker 5: just say it just now is not the right time.
[36:12] Speaker 5: But whoever's going to become president, unless unless he's going
[36:16] Speaker 5: to give you a job in the White House and
[36:17] Speaker 5: take up all your time where you can't do the
[36:19] Speaker 5: Colorado ground or you can't go to Pebble Beach, what
[36:22] Speaker 5: does it matter. It's it's all. It's mental duck soup.
[36:27] Speaker 5: I mean, it really is. It's people gnashing their teeth
[36:31] Speaker 5: for the art of gnashing their teeth. And I always,
[36:37] Speaker 5: you know, having to make a living at this, you
[36:38] Speaker 5: kind of politely so sort of live and listen and go, okay, well,
[36:44] Speaker 5: does that mean after the election you'll be spending money?
[36:47] Speaker 1: Because that was my next question.
[36:49] Speaker 5: Yeah, I mean, I haven't seen anything change, but looking
[36:57] Speaker 5: at the whole year, I mean, nothing has stopped people
[37:02] Speaker 5: from spending money. In the last twenty four months. I
[37:06] Speaker 5: think there have been massive corrections in the marketplace, but
[37:11] Speaker 5: the amount of commerce and the transaction rate, and you
[37:15] Speaker 5: look at the obvious things. You look at bring a
[37:17] Speaker 5: trailer having sold forty four thousand cars last year online. Yeah,
[37:22] Speaker 5: I mean for a bill it's a billion five And
[37:26] Speaker 5: you know it's it's that that whole paradigm shift affects
[37:33] Speaker 5: everything in the collector car world.
[37:35] Speaker 1: You mean the shift to buying cars online.
[37:38] Speaker 5: Yeah, I think for as much lamenting in my peer group,
[37:45] Speaker 5: with people not transacting the way they used to. And
[37:49] Speaker 5: by that, I mean, you know, brick and mortar and
[37:52] Speaker 5: or website sales seem to be you know, the old
[37:59] Speaker 5: splinter in your in your thumbnail. I mean it's one
[38:02] Speaker 5: of those. I've had this car for six months and
[38:04] Speaker 5: i haven't had any interest in it, and I think
[38:06] Speaker 5: I've priced it right. And then if you put an
[38:09] Speaker 5: accelerated time frame for someone to make a decision to
[38:15] Speaker 5: buy something, you can sell it by meaning if you
[38:18] Speaker 5: put it in an auction like we're going to see
[38:20] Speaker 5: over the next ten days that are alive, or if
[38:22] Speaker 5: you give it, you give it a shot online, you'll
[38:27] Speaker 5: sell it. You if you're a sense of urgency, Yeah,
[38:31] Speaker 5: if your intent is to sell something and not hold
[38:34] Speaker 5: out for a dollar amount that you think is correct
[38:38] Speaker 5: versus what the market insists is correct. Everything should come
[38:44] Speaker 5: online at no reserve and everything will sell. Everything will
[38:47] Speaker 5: find a home, the only things. And I'm my own
[38:52] Speaker 5: little world. I can I can watch this on a
[38:55] Speaker 5: micro level, and I've got nine cars on bring a
[38:57] Speaker 5: trailer right now this week. This is part of your
[38:59] Speaker 5: grop yes with with cam Ingram friend, and we try
[39:06] Speaker 5: we don't want to take these cars home. We want
[39:08] Speaker 5: to sell all nine cars, and we try to work
[39:13] Speaker 5: all of the cars except one or on consignment, and
[39:17] Speaker 5: we try to tell the people who are giving us
[39:20] Speaker 5: the cars to sell. You know, I don't care what
[39:22] Speaker 5: you think it's worth. And you cannot cherry pick high
[39:26] Speaker 5: numbers from the past six months of things that kind
[39:29] Speaker 5: of relate to your car. If you put this on
[39:31] Speaker 5: here at no reserve, you will get all the money
[39:34] Speaker 5: in the world because there are seven hundred thousand registered
[39:37] Speaker 5: bidders watching this and if they all you need is
[39:40] Speaker 5: two people to decide they want your car. So if
[39:43] Speaker 5: you have something, especially if you have something that is unique,
[39:46] Speaker 5: it's unrepeatable, it's fairly priced, and it is without exception,
[39:52] Speaker 5: it's gone. It'll be sold. And the only reason why
[39:56] Speaker 5: things don't sell. And I've got three Ferraris in the
[39:58] Speaker 5: last sixty days that have not sold were because the
[40:03] Speaker 5: owners were ten percent optimistic on their price and we
[40:07] Speaker 5: couldn't talk them off of that cliff. It was like,
[40:10] Speaker 5: this is not going to work, and we can give
[40:13] Speaker 5: it a shot. And if all these cars fall ten
[40:16] Speaker 5: to fifteen percent short in the bidding, well, I don't
[40:19] Speaker 5: want to be right because I'd rather sell the car, right,
[40:23] Speaker 5: you know.
[40:23] Speaker 2: How to make money.
[40:24] Speaker 5: Yeah, just because it has a Ferrari badge on it
[40:26] Speaker 5: doesn't mean it's going to immediately sell for what the
[40:30] Speaker 5: last one sold for, any more than a Porsche Badge
[40:33] Speaker 5: or a Chevy Badger or anything else.
[40:43] Speaker 2: Can we talk about this for a second, this idea
[40:45] Speaker 2: of listing a car at no reserve. Yeah, because Matt
[40:49] Speaker 2: and I have talked about this a lot. It sounds
[40:52] Speaker 2: like you're saying every car, if it's sold online, should
[40:55] Speaker 2: be offered at no reserve. Is that what you're saying,
[40:58] Speaker 2: or is there a case for some cars have a
[41:01] Speaker 2: reserve price?
[41:02] Speaker 5: Well, I mean, I mean the reality tell.
[41:06] Speaker 2: Us the game theory behind it.
[41:07] Speaker 5: The reality of it is, if you really want to
[41:11] Speaker 5: sell something and you want to make space in your
[41:13] Speaker 5: garage where you need the money and or the hundred
[41:17] Speaker 5: reasons that you want to sell your car, if you
[41:20] Speaker 5: put it on it a reserve, it's going to sell. Now.
[41:24] Speaker 5: If you panic at the last moment and you think
[41:27] Speaker 5: your car is orth one hundred thousand dollars and everybody
[41:30] Speaker 5: thinks it's one hundred thousand dollars and on that day
[41:32] Speaker 5: it's seventy five thousand dollars and the final BID's coming down,
[41:36] Speaker 5: the reality of it is you can buy the car back,
[41:39] Speaker 5: go to a friend. I mean, I dare say this
[41:42] Speaker 5: is not nothing that you want to do and or
[41:45] Speaker 5: should be promoted, but have somebody register legitimately. Obviously, you
[41:50] Speaker 5: can't bid on your own car, so do not prop up.
[41:54] Speaker 5: Do not prop up your own car with your own
[41:56] Speaker 5: false bidding, because you get caught doing it, it'll be
[41:58] Speaker 5: embarrassing for.
[41:59] Speaker 1: Everybody, get kicked off the platform.
[42:01] Speaker 5: Yeah, it's just it's no bueno. So have a friend
[42:06] Speaker 5: who has a credit card register under his name, and
[42:09] Speaker 5: if you want to buy your car back, you pay
[42:13] Speaker 5: the fee, pay the seven and a half percent up
[42:16] Speaker 5: to one hundred thousand dollars to buy your own car back.
[42:19] Speaker 5: And then what I like to say to people is,
[42:22] Speaker 5: all right, well, you just bought your car back for
[42:25] Speaker 5: that number, and that's only awful if oh, you've owned
[42:30] Speaker 5: something for twenty years and you paid twenty five thousand
[42:33] Speaker 5: dollars for it, now you think it's worth two hundred, right,
[42:36] Speaker 5: and it gets bid to one fifty and you have
[42:40] Speaker 5: to buy it back. Well, you just bought your you.
[42:42] Speaker 1: Just raised your just your bottom line, you just raised.
[42:45] Speaker 5: Now you you just bought your own car back for
[42:46] Speaker 5: one hundred and fifty thousand dollars plus the fee. So
[42:52] Speaker 5: there is a I don't know there's going to be
[42:53] Speaker 5: a psychological term for it. And I'm sure if I
[42:56] Speaker 5: slept on this and thought about it as a homework assignment,
[42:59] Speaker 5: i'd give you a clever title for this chapter. But
[43:02] Speaker 5: there's a there's a mental number in someone's head when
[43:06] Speaker 5: they buy something and they think this is what it
[43:08] Speaker 5: should be worth. It's impossible. It's like trying to run
[43:13] Speaker 5: a road race holding a cup of hot water. You
[43:17] Speaker 5: can't do it every day in and out, because I
[43:19] Speaker 5: say to people all the time. And then we'll get
[43:21] Speaker 5: to go back to your question about what I'm looking
[43:23] Speaker 5: for in the auctions.
[43:24] Speaker 1: Yes, we'll put it there.
[43:26] Speaker 5: We have it's it's the word for this year is
[43:34] Speaker 5: mercurial or it's it's. I suppose that's fair as unpredictable
[43:41] Speaker 5: because and I've said this to clients, you can have
[43:45] Speaker 5: two of the exact same cars, and I mean identical
[43:48] Speaker 5: examples of something, and you sell one on Tuesday. There's
[43:53] Speaker 5: no guarantee that second car will sell for the same
[43:55] Speaker 5: amount on that Wednesday. There's just no there's no predicting
[43:59] Speaker 5: it right now now, which is the modern car world,
[44:03] Speaker 5: the modern collecting world, the wanting buying world, with all
[44:07] Speaker 5: of this information coming at you twenty four to seven
[44:10] Speaker 5: online and time kills all deals. The minute somebody starts
[44:16] Speaker 5: thinking about something, they will derail themselves in the process
[44:21] Speaker 5: faster than anything else. They will certainly convince themselves that,
[44:26] Speaker 5: you know, the number is not right now, is not
[44:28] Speaker 5: the right time, whatever it is, and gone other days
[44:32] Speaker 5: are you know? The simple impulse buys I don't think
[44:37] Speaker 5: there are very few impulse buyers right now, and I
[44:40] Speaker 5: think you know, that's the difference between twenty years ago.
[44:42] Speaker 5: People would go, let me try that out, give this
[44:44] Speaker 5: a shot. Everything is very well calculated for good or
[44:48] Speaker 5: for bad now. I mean it takes away a lot
[44:50] Speaker 5: of the fun impulse, and then I suppose prevents a
[44:53] Speaker 5: lot of people from making mistakes as well. But it's unpredictable.
[44:59] Speaker 5: The market is utterly unpredictable.
[45:01] Speaker 2: So it sounds like you're saying that online auctions have
[45:04] Speaker 2: certainly changed the market. But the truth of the matter
[45:08] Speaker 2: is also that we still have public live brick and mortar,
[45:13] Speaker 2: for lack of a better word, sales too, And it
[45:15] Speaker 2: seems like there is a place for that type of auction.
[45:20] Speaker 5: You cannot have one and not the other.
[45:23] Speaker 2: What does What does the live auction, the traditional auction
[45:27] Speaker 2: give that people want that still has value aside from
[45:32] Speaker 2: the online auction.
[45:35] Speaker 5: It's like having it. You know, do you want a
[45:37] Speaker 5: house in New York or a house in Los Angeles
[45:39] Speaker 5: or both? You know you want to do both both,
[45:42] Speaker 5: And it's a good question. The live auctions will always
[45:49] Speaker 5: They're always needed, and I think the obvious example is
[45:54] Speaker 5: you know why you cannot sell that Streamliner or the
[45:57] Speaker 5: two fifty LM or any of these indie cars on
[46:00] Speaker 5: an online platform. You need to see them, You need
[46:03] Speaker 5: to be part of the process, You need to do
[46:04] Speaker 5: your due diligence, You need to properly have access to
[46:08] Speaker 5: the automobiles. You know, in many ways, you have more
[46:13] Speaker 5: access to something you're buying online if you make the
[46:18] Speaker 5: effort to go visit the car before it gets sold
[46:20] Speaker 5: and you can take it out for a proper test,
[46:22] Speaker 5: drivenue that yeah, and you can do a compression, the
[46:25] Speaker 5: leakdown test, and you can maybe do some metallurgy tests,
[46:28] Speaker 5: or you can do whatever you need to do. There's
[46:30] Speaker 5: more in many ways, more access where some of the
[46:33] Speaker 5: live auction companies don't let you drive a car, or
[46:37] Speaker 5: they drive them for you, which is a little unfair,
[46:41] Speaker 5: but there are certain cars that they just benefit from
[46:45] Speaker 5: being in a live room with a proper live presentation,
[46:50] Speaker 5: and that boils down to you know, collections. I'm thinking back.
[46:55] Speaker 5: I'm thinking back when David Gooding sold a Fellow. But
[46:58] Speaker 5: then if Hubert Fabrey's cars in London a handful of
[47:01] Speaker 5: years ago, those weren't cars that you sell online. You
[47:05] Speaker 5: need to sell those vintage Bugattis and Elphas and a
[47:09] Speaker 5: special Aston Martin special Ferrari. There's things you need to
[47:14] Speaker 5: you need to see, and they need to be promoted
[47:18] Speaker 5: differently than a seven day auction online. It's not I
[47:24] Speaker 5: don't want to say top of the food chain. Stuff
[47:27] Speaker 5: should be sold live because that's unkind. And there are
[47:30] Speaker 5: plenty of cars that have sold for over a million
[47:33] Speaker 5: dollars and up to I think four or five million
[47:35] Speaker 5: dollars online, but they're more commodity items that are easier
[47:39] Speaker 5: to understand looking at two or three hundred photos and
[47:43] Speaker 5: watching a video than actually going in person and appreciating
[47:49] Speaker 5: whether it's calling those cars the old masters of the
[47:53] Speaker 5: collector car world versus the taped banana on the wall.
[47:56] Speaker 2: You know, agree with you, but okay.
[48:02] Speaker 5: Just prove proving how much money is out there.
[48:06] Speaker 2: There's a sense of occasion there, there is a yeah and.
[48:11] Speaker 5: This you have to you have to have both. There's
[48:14] Speaker 5: plenty of room in the world. I would never advocate
[48:17] Speaker 5: for just one or the other. I mean, the simple
[48:20] Speaker 5: fact of the matter is, and I think you'd get
[48:22] Speaker 5: this by no means, do I know this? You know?
[48:28] Speaker 5: Can I tell you what's in Randy Nunnenberg's head after
[48:31] Speaker 5: having created Bring a Trailer. I don't think Randy in
[48:35] Speaker 5: his craziest, wildest, quietest dreams, would have said, we're going
[48:42] Speaker 5: to sell, you know, a thousand cars a week or
[48:44] Speaker 5: eight hundred cars a week, and this is going to
[48:47] Speaker 5: be the shift. This again, I use the overused phrase
[48:52] Speaker 5: of paradigm shift in the market, but I I don't
[48:56] Speaker 5: need a showroom anymore. I need a place to photograph
[48:59] Speaker 5: cars and you know, put him on his site and
[49:01] Speaker 5: sell them. I don't think. I mean, there are entire
[49:04] Speaker 5: businesses now that have populated the United States and now
[49:09] Speaker 5: going into Europe, where you know, you have Bring a
[49:12] Speaker 5: Trailer partners. I mean, I'm one of their partners for
[49:15] Speaker 5: the state of Massachusetts. But you've got businesses set up
[49:19] Speaker 5: with ten, fifteen, sometimes twenty employees. And now this gentleman
[49:24] Speaker 5: who runs the under the name sixteen hundred Voloce online,
[49:28] Speaker 5: he's got a spot in the Northeast, and now he's
[49:30] Speaker 5: opened up a spot in Germany because he's accessed a
[49:34] Speaker 5: huge collection of cars. And you need a presence in Europe,
[49:38] Speaker 5: and you need a presence in the United States, and
[49:40] Speaker 5: so now there are all these little you know, it's
[49:42] Speaker 5: sort of the online version of people making money off
[49:45] Speaker 5: of TikTok. Well who knew people could make money off TikTok? Yes, well,
[49:49] Speaker 5: apparently there are seven million people that earned some sort
[49:52] Speaker 5: of living off of TikTok. And now there's hundreds of
[49:54] Speaker 5: people making a living off of online auctions. So it's interesting.
[50:02] Speaker 5: And bring a trail is not the only one. I
[50:03] Speaker 5: mean cars and bids and you have collecting cars and
[50:08] Speaker 5: you know that's it's a booming business. And I think
[50:12] Speaker 5: there is a little auction fatigue. I mean that's the
[50:17] Speaker 5: other thing which leads to unpredictability in the marketplace. I mean,
[50:21] Speaker 5: it's so easy to buy a car now that it
[50:25] Speaker 5: takes away some of the special focus that you used
[50:30] Speaker 5: to have to go digging, you know, right.
[50:32] Speaker 2: Or wait, like, you know, wait a couple of months
[50:34] Speaker 2: until the annual sale comes around. I sometimes wonder if
[50:38] Speaker 2: coronavirus had something to do with that where everything I
[50:42] Speaker 2: certainly noticed it in reporting and car launches and car
[50:45] Speaker 2: events for new cars. You know, everyone kind of realized, oh,
[50:48] Speaker 2: we don't have to follow this calendar schedule.
[50:51] Speaker 1: We used to follow with our debuts.
[50:53] Speaker 2: And our launches, and we could only debut cars at
[50:56] Speaker 2: you know, in the Detroit Automotive Show. Now kind of
[51:00] Speaker 2: freed everyone up. We can launch a car whenever we want.
[51:04] Speaker 2: Did you see the same thing happen with car auctions?
[51:07] Speaker 5: Well, I think that's fair. I mean you go back
[51:10] Speaker 5: to l A, Detroit, Geneva, Paris, all those shows are
[51:15] Speaker 5: they're like, there's no need or close to it. They're close.
[51:19] Speaker 5: It's it's you know, they're they're buggy whips.
[51:22] Speaker 2: Oh.
[51:22] Speaker 5: I think during Corona, you know, during COVID, during that
[51:27] Speaker 5: virus time, the sense of mortality changed for a lot
[51:32] Speaker 5: of people, which turned out to be true for a
[51:36] Speaker 5: few and and not true for the majority of the population,
[51:39] Speaker 5: where everybody went, what am I waiting for? I might
[51:41] Speaker 5: be locked in forever. I got to buy this. I
[51:43] Speaker 5: want to do this thing I've never done before. I
[51:44] Speaker 5: want to get it done. And there was a COVID
[51:47] Speaker 5: spike in the marketplace, and that has since come back down,
[51:50] Speaker 5: Like like any hockey stick spike in a market it
[51:54] Speaker 5: it reaches the top and then the elevator cable breaks
[51:57] Speaker 5: and it comes right back down to reality. Yeah, I
[52:00] Speaker 5: think that that lent itself to the quantity of things
[52:06] Speaker 5: that were being offered, and certainly the quantity of things
[52:09] Speaker 5: that were being bought at eyewatering surprising prices. And I
[52:14] Speaker 5: think since that time the car marketplaces have been unpredictable
[52:20] Speaker 5: since that time, because nobody could have predicted that the
[52:23] Speaker 5: market would have gone crazy with everybody being locked in,
[52:26] Speaker 5: and then it corrected downwards, and then it flattened out,
[52:29] Speaker 5: and then some other cars came down over the last
[52:32] Speaker 5: few years, while a handful of cars and I suppose
[52:36] Speaker 5: we could circle back to your original question about what
[52:39] Speaker 5: I'm looking at to watch for little trends in marketplace,
[52:42] Speaker 5: and there are cars that five years ago, if I
[52:46] Speaker 5: certainly had a crystal ball that was worth a dam,
[52:48] Speaker 5: I would have bought a dozen of these things and
[52:51] Speaker 5: invested some clients money in them, and then retired after
[52:55] Speaker 5: this year. Because they're name names.
[52:57] Speaker 1: What are they?
[52:58] Speaker 5: Well, I mean, you pick anything with the roof badge
[53:00] Speaker 5: on it, I want to talk to you about that,
[53:03] Speaker 5: and then you took anything list There was such a
[53:06] Speaker 5: disparaging phrase. My friend Andrew Hall used to call the
[53:12] Speaker 5: Ferrari supercars. I mean the two eighty eight gto the
[53:15] Speaker 5: F forty, the F fifty the ends of the left Ferrari,
[53:17] Speaker 5: he would just call them the you know wives of
[53:20] Speaker 5: the footballers cars, sure, because you know you just signed
[53:25] Speaker 5: well well, he meant that as this, He meant that
[53:29] Speaker 5: it as a very uncreative way to spend your money,
[53:33] Speaker 5: acting like everybody else. And as it turns out, you know,
[53:37] Speaker 5: I had two eighty eight GTOs in my inventory that
[53:41] Speaker 5: you couldn't give away for a long time ago, Carera
[53:43] Speaker 5: gts that were difficult to sell, nine eighteens that were
[53:46] Speaker 5: difficult to sell. And I think the pattern is as
[53:51] Speaker 5: some people are aging out, there's so much newer money
[53:55] Speaker 5: with a younger generation of people, they don't want the
[53:58] Speaker 5: cars that a great many folks wanted for twenty years.
[54:03] Speaker 5: There's always going to be a to answer your question,
[54:06] Speaker 5: what I'm going to watch is like the iconic classic
[54:10] Speaker 5: cars would be the first thing that I always watch,
[54:12] Speaker 5: And by that I mean it's again it's the predictable
[54:16] Speaker 5: things that people getting in as new buyers will want
[54:20] Speaker 5: to buy. And now topping that market is probably any
[54:23] Speaker 5: kind of Mura, Lamborghini Mura, you know, the P four hundred,
[54:27] Speaker 5: the SDSV. They've shot up greatly in value arguably one
[54:31] Speaker 5: of the greatest artworks of all time that happens to
[54:35] Speaker 5: be an automobile. I'll watch watch the Mirror, I'll watch
[54:38] Speaker 5: any three hundred sl I'll watch still.
[54:42] Speaker 2: I feel like those have been just consistent blue years. Yeah,
[54:46] Speaker 2: those are just you're still watching those. Just as an indicator.
[54:50] Speaker 5: Any two seventy five GTB Ferrari portious speedsters. I don't
[54:55] Speaker 5: think this is an aston Martin dB five, but they
[54:57] Speaker 5: are the easy to understand and iconic in a Cobra
[55:01] Speaker 5: two eighty nine Cobra. They're they're easy cars to understand,
[55:05] Speaker 5: they're easy cars to add to any collection and to
[55:09] Speaker 5: folks who don't want to think outside the box and
[55:12] Speaker 5: they want validation generally, and I'm not downplaying someone's creativity,
[55:18] Speaker 5: but you sort of see a big pattern here. You
[55:20] Speaker 5: see guys that you know have all of those cars,
[55:23] Speaker 5: and they never step out of those things because they're
[55:26] Speaker 5: they're equities. They're they're easy to they're easy to trade,
[55:29] Speaker 5: there's very little risk in any of them. And then
[55:31] Speaker 5: the footballer wives cars, I mean those have gone through
[55:33] Speaker 5: the roof. I mean they've just gone bonkers. And you
[55:37] Speaker 5: throw in modern supercars, you know, mostly any Bugatti, any
[55:44] Speaker 5: any Pagani, not Pegani, any Cone's Egg. Yeah, absolutely in
[55:51] Speaker 5: that group. And then you throw in the Portia Halo
[55:56] Speaker 5: cars starting with the nine point fifty nine either by
[56:00] Speaker 5: Bruce Kanapa or not a Carera GT and a nine
[56:04] Speaker 5: to eighteen, and you know those markets they fluctuate a
[56:09] Speaker 5: little bit, but with the new car buyers, you always
[56:13] Speaker 5: want to watch that. And the Roough thing is a phenomenal.
[56:19] Speaker 2: Talk about that as we can, because I think we're
[56:21] Speaker 2: talking about the yellow Bird that's sure sale. The nineteen
[56:25] Speaker 2: eighty nine CTR nicknamed yellow Bird pricing estimate is six
[56:29] Speaker 2: million dollars. Why is it that expensive? This is not
[56:33] Speaker 2: the record breaking car.
[56:36] Speaker 5: No, no, it's not the car that actually did the
[56:38] Speaker 5: record breaking. That's any of them become the record breakers
[56:42] Speaker 5: when one does it. So don't you don't need the
[56:45] Speaker 5: record the actual record breaker, and you probably don't want
[56:47] Speaker 5: the actual record breaker. But there are twenty nine of
[56:50] Speaker 5: these cars. This one is unrepeatable in terms of condition
[56:54] Speaker 5: and mileage and ownership. And again it boils down to
[56:58] Speaker 5: this car is without accept it's coming from a home
[57:03] Speaker 5: that if you're going to buy one of these, this
[57:05] Speaker 5: is where you should get it from. That's a car.
[57:09] Speaker 5: To me, I've never understood. I'm not I'm not a
[57:12] Speaker 5: fair person to ask because I've never understood it, and
[57:15] Speaker 5: it's been explained to me by the people that own them,
[57:17] Speaker 5: and they've made great arguments as to why they own them.
[57:21] Speaker 5: I've never understood a modifiers car. I've never understood the
[57:23] Speaker 5: singer thing. I've never understood the roof thing. I honestly don't.
[57:27] Speaker 5: It doesn't appeal to me. I like what the manufacturers
[57:30] Speaker 5: originally made and more of an originality geek that way.
[57:34] Speaker 5: But if you want a faster car that can can
[57:39] Speaker 5: do certain things a normal nine to eleven can't do,
[57:42] Speaker 5: this is this is for you, and this falls under
[57:46] Speaker 5: This really falls under I have it and you don't.
[57:50] Speaker 2: You talked about that before. Yeah, that's very valuable. It's
[57:54] Speaker 2: a thing for a lot of people.
[57:56] Speaker 5: It's it's it's a it's a It's the same with
[57:58] Speaker 5: watch collecting, it's the same with art. I'm not saying
[58:01] Speaker 5: that people buying these things don't appreciate them, that's the
[58:05] Speaker 5: last thing I'm saying, but they this becomes a wallet
[58:07] Speaker 5: fight at the top of the food chain. If somebody
[58:09] Speaker 5: wants this car and it could do six to seven
[58:12] Speaker 5: I wouldn't be surprised if you did eight million dollars.
[58:14] Speaker 5: I mean, this is part of the unpredictability because you
[58:18] Speaker 5: cannot repeat this car. So you get the out on
[58:22] Speaker 5: one side, some of the indie cars on the other,
[58:26] Speaker 5: you know, going through I mean even and I'm a
[58:30] Speaker 5: fan of nine to nine three rs' is the portion
[58:33] Speaker 5: nine three rs. RM has one that is the rarest color.
[58:39] Speaker 5: It's in Riviera blue. They made one in this particular spec.
[58:43] Speaker 5: This has got less than nine thousand miles on it.
[58:46] Speaker 5: I'll watch that car. I mean, there's a heady, very
[58:49] Speaker 5: heavy estimate on it. I think it's seven fifty to
[58:52] Speaker 5: nine fifty, where most of those cars sell for you know,
[58:56] Speaker 5: half that because they're more common colors. But this is unrepeatable,
[58:59] Speaker 5: got it. So that's that's another one of those you
[59:02] Speaker 5: keep an eye out for that. I mean, but there's
[59:04] Speaker 5: there's really I mean, looking at it David Gooding's catalog.
[59:09] Speaker 5: You've got the roof and then you have what's going
[59:12] Speaker 5: to be very interesting to me is the three seventy
[59:14] Speaker 5: five Ferrari, which is his halo car for the auction
[59:18] Speaker 5: and folks in that nineteen fifties. Ferrari world know this
[59:22] Speaker 5: car very well. It's a very famous car owned by
[59:25] Speaker 5: a gentleman in Michigan. Was owned by a gentleman in
[59:28] Speaker 5: Michigan by the name of Fred Lador, who had the
[59:30] Speaker 5: car forever. He also owned a GTL at one point.
[59:33] Speaker 5: I mean, he was no slouch collector, and he always people.
[59:38] Speaker 5: When Ferraris were having their big run up in you know,
[59:42] Speaker 5: twenty twelve through twenty fourteen fifteen, and having sold two
[59:49] Speaker 5: three seventy fives, I knew what they were worth. I
[59:53] Speaker 5: think the most expensive one I sold was sixteen million dollars.
[59:57] Speaker 2: Wow.
[59:57] Speaker 5: Fred always wanted twenty. When the market came down and
[1:00:02] Speaker 5: went into the teens, he wanted high teens.
[1:00:05] Speaker 2: You know.
[1:00:05] Speaker 5: And then when the car was worth sort of twelve,
[1:00:08] Speaker 5: he wanted fifteen. And he kept falling. Essentially, he either
[1:00:11] Speaker 5: never wanted to sell the car or he was just
[1:00:12] Speaker 5: downright greedy at the end of the day.
[1:00:16] Speaker 1: You know.
[1:00:16] Speaker 5: The big joke is, well, if you're really old and
[1:00:19] Speaker 5: you want too much money for something, we'll just wait
[1:00:21] Speaker 5: for your estate to sell it because that will be
[1:00:23] Speaker 5: it's it's very.
[1:00:25] Speaker 2: Model, yes, but in the end, I mean this car
[1:00:31] Speaker 2: now is looks like the Simon is eight to ten.
[1:00:33] Speaker 5: Well see now, now, daughters, I think their daughters, the
[1:00:37] Speaker 5: two daughters who have the car want to sell dad's asset.
[1:00:40] Speaker 5: And there's another There's there's some lesser car that he
[1:00:42] Speaker 5: also has in the auction. I think it's an old
[1:00:44] Speaker 5: Portia anyway. But now here's here's the rub with this car.
[1:00:50] Speaker 5: He could have sold it for all the money for
[1:00:54] Speaker 5: five years, and he always he wanted all the money
[1:00:57] Speaker 5: plus thirty percent. And now, well it's worth half of
[1:01:03] Speaker 5: what all the money was. And let's see if it sells.
[1:01:07] Speaker 5: I mean, I do believe it will sell because it's
[1:01:11] Speaker 5: a very desirable car, but that could be the poster
[1:01:15] Speaker 5: child for a difficult to sell era and example of
[1:01:20] Speaker 5: something right now, it's going to have to be aggressively priced,
[1:01:22] Speaker 5: which I think it is at eight million dollars, very
[1:01:24] Speaker 5: aggressively priced. And I think, you know, the folks at
[1:01:29] Speaker 5: Gooding are no fools. They weren't going to outprice themselves
[1:01:32] Speaker 5: only to have a halo car not sell. I think,
[1:01:35] Speaker 5: if you know, my advice to the family would be
[1:01:38] Speaker 5: put it out at no reserve, announce that at the
[1:01:41] Speaker 5: very last minute, because that's exciting.
[1:01:44] Speaker 2: Yeah, that'd get people.
[1:01:45] Speaker 5: Going, it's not my money, so let me die. Either
[1:01:49] Speaker 5: you're going to have a room full of very lugubrious,
[1:01:52] Speaker 5: crying people, or you're going to have you know, champagne
[1:01:57] Speaker 5: bottles going off, because I mean, why not. Your father's
[1:02:01] Speaker 5: passed away, you're selling the car in the estate. The
[1:02:03] Speaker 5: last thing you want to do is have this not sell.
[1:02:08] Speaker 2: Can they make that call? Do you expect at the
[1:02:11] Speaker 2: last minute? I mean they can they just lean over
[1:02:13] Speaker 2: and tell Shelby or Rob, hey, let's let's put this
[1:02:16] Speaker 2: out of no reserve or David, yes, yes, sorry sorry,
[1:02:20] Speaker 2: oh gosh sorry, or David, this is a lot one
[1:02:23] Speaker 2: fifty four good Christie's, the nineteen fifty five Frarie seven.
[1:02:28] Speaker 5: Well you could do that. I mean I think I
[1:02:30] Speaker 5: think it could be a last they could. They could
[1:02:32] Speaker 5: call it today and put an addendum out when people
[1:02:36] Speaker 5: pick up their paddles and pick up their bidding information.
[1:02:39] Speaker 5: I mean, this is me. This is me if I
[1:02:41] Speaker 5: was the head of Christie's and I had a moment
[1:02:43] Speaker 5: with the family saying yes, listen, this is a lot
[1:02:46] Speaker 5: of money. This is a significant chunk of change, and
[1:02:51] Speaker 5: they're going to be I don't again, I'll try not
[1:02:54] Speaker 5: to speak sort of about things I know a little
[1:02:57] Speaker 5: bit of and not a lot of. There are going
[1:02:59] Speaker 5: to be taxes on this is going to capital gains hacks,
[1:03:01] Speaker 5: as they're going to be, they're going to have to
[1:03:02] Speaker 5: give some of this back to the feds. Well, knowing
[1:03:05] Speaker 5: all of that, why don't you try to blow everybody
[1:03:08] Speaker 5: out over the next ten days and announce that this
[1:03:11] Speaker 5: car is suddenly coming out at no reserve because people
[1:03:15] Speaker 5: had chased it when the market was hotter and people
[1:03:19] Speaker 5: wanted more of this era car. Why not get those folks,
[1:03:23] Speaker 5: Why not grab their attention again and go, we're going
[1:03:26] Speaker 5: to sell this. I wouldn't do it with a great
[1:03:30] Speaker 5: many other things. But if you have no desire to
[1:03:33] Speaker 5: keep this, it was your father's pride and joy he
[1:03:36] Speaker 5: sadly has passed, and you can repurpose the money. Would
[1:03:41] Speaker 5: I would rather have six million dollars instead of eight
[1:03:45] Speaker 5: if it meant not having anything me too.
[1:03:48] Speaker 2: Six million is more than nothing.
[1:03:49] Speaker 5: Right, and it's far more than what he paid for it,
[1:03:51] Speaker 5: which again, if you're working off of the cost basis,
[1:03:54] Speaker 5: and I don't know what he paid for it, but
[1:03:56] Speaker 5: it was nowhere near this, I mean, and that car
[1:03:58] Speaker 5: is so significant because it has every bit of documentation
[1:04:02] Speaker 5: with it. There is correspondence between Enzo Ferrari and the
[1:04:05] Speaker 5: original buyer. I mean, there is this, This is a
[1:04:10] Speaker 5: this is a a sort of an information geeks just
[1:04:15] Speaker 5: dream come true.
[1:04:16] Speaker 2: I mean gorgeous.
[1:04:18] Speaker 5: Oh it's it's absolutely a stunning h and a beast
[1:04:22] Speaker 5: to drive and a three seventy five road car. I
[1:04:25] Speaker 5: mean unheard of kind of a one off thing. Why
[1:04:29] Speaker 5: why not completely make just the way? You know again,
[1:04:33] Speaker 5: if if God came down and said you can go
[1:04:35] Speaker 5: do this today right before Miami, I would I would
[1:04:39] Speaker 5: make the announcement because now you're going to put a
[1:04:42] Speaker 5: ripple through everything going. You know, It's no coincidence we
[1:04:45] Speaker 5: launched the group p at the time that we did
[1:04:48] Speaker 5: because everybody's bringing their money to Miami and Amelia Island
[1:04:50] Speaker 5: and it was like, well, let's try to grab some
[1:04:52] Speaker 5: of them before he spends all their day.
[1:04:53] Speaker 2: Right. Well, I do want to ask you about Ferraris
[1:04:57] Speaker 2: and Porscha's specifically, because I counted up and there in
[1:05:02] Speaker 2: the two auctions this month in Florida, there are twelve
[1:05:06] Speaker 2: Porsches being offered at more than a million dollars, and
[1:05:10] Speaker 2: there are also twelve Ferraris being offered at for more
[1:05:12] Speaker 2: than a million dollars. Now, the Ferraris, I'm not surprised
[1:05:14] Speaker 2: about the Porsches. I'm actually surprised that there are twelve
[1:05:18] Speaker 2: and each auction house has at least one Porsche that's
[1:05:21] Speaker 2: supposed to take over a million dollars in my recollection.
[1:05:25] Speaker 2: And tell me if I'm wrong. Porsches were never valued.
[1:05:30] Speaker 4: Like this, on par with Ferraris.
[1:05:32] Speaker 2: What do you make of that?
[1:05:34] Speaker 5: Well, I think the Porsches that are worth the most
[1:05:39] Speaker 5: money used to be the aluminum and plastic cars from
[1:05:43] Speaker 5: the fifties and sixties, which have now become the sort
[1:05:46] Speaker 5: of difficult thing to sell at this moment. And again
[1:05:50] Speaker 5: having specialized in that for a handful of years. Yeah,
[1:05:53] Speaker 5: there are the outlier Ferraris, the GTOs of Testerosa's, the lms,
[1:05:57] Speaker 5: the big cars that were tens of millions of And
[1:06:01] Speaker 5: you never had Porsches except the nine seventeen that it
[1:06:04] Speaker 5: was really worth that kind of money. They were always valuable,
[1:06:08] Speaker 5: they just weren't They weren't as desirable as the Ferraris were.
[1:06:13] Speaker 5: Over time and over a million this is really it's
[1:06:16] Speaker 5: sounding completely glib. Over a million dollars, it doesn't buy
[1:06:20] Speaker 5: you much in the car world anymore. And so, yeah,
[1:06:23] Speaker 5: career gts are over a million dollars. They made a
[1:06:25] Speaker 5: lot of them. The nine eighteams over a million dollars,
[1:06:26] Speaker 5: they made a lot of them. Nine to fifty nine's
[1:06:28] Speaker 5: they made a lot of them. The roofs they made.
[1:06:31] Speaker 5: You know, there's hundreds of roofs. Not all of them
[1:06:33] Speaker 5: are over a million bucks, and most of them aren't.
[1:06:36] Speaker 5: But you can't buy a Yellow Bird for you know,
[1:06:38] Speaker 5: anywhere near those. So I think the Ferraris are still
[1:06:43] Speaker 5: there are a greater number of Ferraris that are more valuable,
[1:06:48] Speaker 5: but Porsches right behind them. I think what's driving that
[1:06:52] Speaker 5: there are far more people that still want to have
[1:06:55] Speaker 5: a Porsche collection than a Ferrari collection for whatever reason,
[1:06:58] Speaker 5: mostly because the Ferrari are real. Proper Ferrari collection was
[1:07:01] Speaker 5: unattainable for most people. But there are you know, three
[1:07:05] Speaker 5: fifty six Carrera cars that have always been over a
[1:07:08] Speaker 5: million bucks there. You know, there's there's a lot of
[1:07:10] Speaker 5: cars that Portia has made that have gone into that spectrum.
[1:07:15] Speaker 5: What's interesting to me is the cars that are the
[1:07:18] Speaker 5: oddball cars to watch and the one that comes to
[1:07:22] Speaker 5: mind and you're gonna I think crush r. I think
[1:07:25] Speaker 5: of what how did you get how did you get
[1:07:27] Speaker 5: upon this?
[1:07:29] Speaker 2: Uh?
[1:07:30] Speaker 5: David Gooding has a Fraser Nash. Okay, all right, so
[1:07:35] Speaker 5: it's I think the estimate is seven to nine hundred
[1:07:37] Speaker 5: thousand dollars. I believe there's one other Fraser Nash in
[1:07:42] Speaker 5: the United States. They are they're obscure. I mean, I
[1:07:46] Speaker 5: love obscure cars.
[1:07:48] Speaker 2: This is an extremely obscure this is Is this a replica?
[1:07:52] Speaker 5: No, no, no, it's it's it's because that what did
[1:07:56] Speaker 5: you pick up in the name that makes you think
[1:07:57] Speaker 5: it's replica? Yeah, right, it's so, it's that's always that's
[1:08:01] Speaker 5: always been the Laman rep No, it does not stand.
[1:08:05] Speaker 5: It's not a replica. It's a proper Fraser Nash. But
[1:08:09] Speaker 5: what I'm getting at is, say you you have a
[1:08:13] Speaker 5: significant car collection of historically important cars. This was the
[1:08:17] Speaker 5: first car to win the Twelve Hours of Seaburn. It
[1:08:21] Speaker 5: went missing for decades, was restored by the Fraser Nash
[1:08:27] Speaker 5: expert in the UK, and they're wildly popular as vintage
[1:08:32] Speaker 5: race cars. If you go to Goodwood and you go
[1:08:35] Speaker 5: to the revival, you see them. They're just unknown in
[1:08:40] Speaker 5: the United States. So I think someone's taken a shot here,
[1:08:44] Speaker 5: and that occasionally happens, and you bring something into a
[1:08:48] Speaker 5: marketplace that only the true you know, geeks know about
[1:08:53] Speaker 5: these things, and because most people looking at it and go, well,
[1:08:55] Speaker 5: I don't like the way it looks. I don't like
[1:08:56] Speaker 5: it's chain driven, I don't like that, I don't like
[1:08:59] Speaker 5: I don't like any of this technology. Usual yes, and
[1:09:02] Speaker 5: then you suddenly dig into it and go, well, wait
[1:09:04] Speaker 5: a minute, if I had this, it's an entry into
[1:09:08] Speaker 5: so many historic events, and it's in and of itself
[1:09:13] Speaker 5: a very important piece of Florida Sebring history. So why
[1:09:16] Speaker 5: not sell the car? Makes sense at a Florida auction.
[1:09:19] Speaker 5: So whoever brought that to auction, I don't know who
[1:09:21] Speaker 5: owns the car. Whoever brought that to auction is smart.
[1:09:24] Speaker 5: You know, maybe it'll take a shot, and maybe it'll
[1:09:26] Speaker 5: fail miserably, and maybe it'll sell for over high estimate.
[1:09:30] Speaker 5: I don't know. But things like that in the catalog,
[1:09:32] Speaker 5: when you really go into them and you start to
[1:09:34] Speaker 5: cherry pick them, that the AMG cars the only manual
[1:09:40] Speaker 5: AMG cars of two different models, and I don't have
[1:09:43] Speaker 5: the models in front of me that David has weird.
[1:09:46] Speaker 5: I mean, if you you know again modern collectible, you
[1:09:52] Speaker 5: have it and nobody else does.
[1:09:54] Speaker 2: I see one an AMG three hundred, the six point
[1:09:59] Speaker 2: zero ham yep, the hammer, Yeah, so Dan five speed
[1:10:03] Speaker 2: manual gearbox, pre Summit up to one point seven million.
[1:10:07] Speaker 5: Yeah, and pre Mercedes Benz AMG Merger. Dave. It's if
[1:10:15] Speaker 5: you've got a Mercedes collection, you want something very different,
[1:10:18] Speaker 5: or if you if you collect cars that have been
[1:10:20] Speaker 5: if you collect Alpina BMW's and AMG Mercedes Benzes and
[1:10:25] Speaker 5: you know different tuner cars, Well here you have this
[1:10:30] Speaker 5: and nobody else does.
[1:10:32] Speaker 4: Right here.
[1:10:32] Speaker 2: Yeah, there's another one, Steve, tell me what you're looking
[1:10:37] Speaker 2: for beyond Florida.
[1:10:39] Speaker 1: And this has been so great.
[1:10:40] Speaker 2: I know we're gonna have to wrap it up because
[1:10:42] Speaker 2: I've got producers telling me that we're coming to the
[1:10:45] Speaker 2: end of our time already. But I know, looking forward
[1:10:50] Speaker 2: beyond Florida, what are you watching? Just as you sort
[1:10:53] Speaker 2: of nose around the market in your own.
[1:10:55] Speaker 5: Life, well business wise, you know, you just want to
[1:10:58] Speaker 5: make sure people are still getting up in being interested
[1:11:00] Speaker 5: in cars and a new generation of people are coming
[1:11:02] Speaker 5: into this and it's not dying out, and that I
[1:11:04] Speaker 5: think years ago, ten years ago, you might people, you know,
[1:11:07] Speaker 5: sort of the negative mantra was, who I hope this
[1:11:10] Speaker 5: younger kids really love these cars, And well, I think
[1:11:14] Speaker 5: kids are always going to love cars. And I think
[1:11:16] Speaker 5: for a while they were distracted by video games and
[1:11:18] Speaker 5: things that they held in their hands and you know,
[1:11:21] Speaker 5: my iPad and my phone and it's more fun than
[1:11:24] Speaker 5: doing and then that all wears off and you want,
[1:11:27] Speaker 5: you know, you really want that tactile and oral thrill
[1:11:31] Speaker 5: that you know, either a horse or a car gives you,
[1:11:33] Speaker 5: or a sailbout or something where you're experience some freedom
[1:11:38] Speaker 5: and some wind in your hair, and you know you're
[1:11:41] Speaker 5: having an experience that's etching in your brain that when
[1:11:44] Speaker 5: you think about it as nothing but joy. So I
[1:11:46] Speaker 5: want to see people just constantly being involved. And you know,
[1:11:52] Speaker 5: I also thought years ago when people were spending their
[1:11:55] Speaker 5: money on all these supercars, it's like, what are they
[1:11:57] Speaker 5: going to do with them? Well, apparently there are now
[1:12:02] Speaker 5: over and a friend gave me this information this morning.
[1:12:06] Speaker 5: We were talking about different events. There are probably as
[1:12:10] Speaker 5: many or more events that are catering and tailoring themselves
[1:12:15] Speaker 5: towards these supercar owners and whether they're in Europe or
[1:12:19] Speaker 5: the United States. And I'm not saying, you know, you're
[1:12:21] Speaker 5: going to go on a public road and wring the
[1:12:23] Speaker 5: thing out at one hundred and eighty miles an hour,
[1:12:25] Speaker 5: but that just wasn't the case years ago. So that's
[1:12:28] Speaker 5: all very positive for the you know, it's all very positive.
[1:12:32] Speaker 5: And you know, just because I prefer older things not
[1:12:36] Speaker 5: catering to me, but boy, they're catering to the people
[1:12:38] Speaker 5: who are spending the real money in this is that's
[1:12:40] Speaker 5: not many.
[1:12:41] Speaker 2: I mean, it reminds me of John to Marian in
[1:12:42] Speaker 2: Miami exactly. We are curated.
[1:12:45] Speaker 5: Yeah, I mean, here's ahead of the curve all.
[1:12:46] Speaker 2: The time, completely.
[1:12:47] Speaker 5: Yeah. And there are there are a handful of people that,
[1:12:50] Speaker 5: you know, we're not going to sell Duzenbergs and Packards
[1:12:52] Speaker 5: and Bugattis and Alphas and all these pre war cars
[1:12:55] Speaker 5: that all these geezers love. It's like, we want to
[1:12:57] Speaker 5: get into the stuff that the tech bros and the
[1:13:00] Speaker 5: finance guys and all the guys making real big money,
[1:13:03] Speaker 5: what they're interested in and what their poster cars were
[1:13:05] Speaker 5: from when they were kids. Fine. You know, I may
[1:13:10] Speaker 5: age out and play what do you drive?
[1:13:12] Speaker 2: What are you driving? Personally? Steve, I know you've got
[1:13:16] Speaker 2: that three five six here in La Yeah.
[1:13:19] Speaker 5: That's still my that's you know, that's still my rally
[1:13:22] Speaker 5: car of choice and fun car in Los Angeles. I think,
[1:13:26] Speaker 5: you know, I mean, I split my time everyday car.
[1:13:29] Speaker 5: This is not a Mercedes spenz commercial. But you know,
[1:13:33] Speaker 5: my g Wagon has got sixty thousand miles on it,
[1:13:35] Speaker 5: and I think for Boston it's the perfect car. Still
[1:13:40] Speaker 5: the big W twelve Bentley, which is again.
[1:13:44] Speaker 2: Kind of a line that for a while.
[1:13:45] Speaker 5: It's coming up on my fifth year. And I do love,
[1:13:51] Speaker 5: you know, and I love getting mocked for driving the
[1:13:54] Speaker 5: poor man's Ferrari, which is the roma I you know,
[1:13:58] Speaker 5: I didn't. I just wanted to go through the process
[1:14:01] Speaker 5: of cradle to grave of ordering something that nobody else had,
[1:14:05] Speaker 5: and I love the look and it's plenty fast for me.
[1:14:09] Speaker 5: And I was I think I gave you the note
[1:14:12] Speaker 5: of the Bentley Flying Spur that went in for service
[1:14:16] Speaker 5: and is still on a lift one and twenty days later.
[1:14:19] Speaker 1: I was very sad to hear about.
[1:14:20] Speaker 5: That somebody had to rebuild the brake suspension and steering
[1:14:25] Speaker 5: might as well be me. I'm looking forward to driving that,
[1:14:30] Speaker 5: So yeah, no, I have, Hannah. I promised myself this
[1:14:33] Speaker 5: year that I would whittle down and get rid of
[1:14:37] Speaker 5: six cars and.
[1:14:38] Speaker 3: Get going for you.
[1:14:39] Speaker 5: Not so well. I don't think there's nothing on the
[1:14:42] Speaker 5: radar that I want to buy, but there are. I
[1:14:45] Speaker 5: you know, I was saying to Amanda, my wife the
[1:14:48] Speaker 5: other night walking around, you said, you're really going to
[1:14:50] Speaker 5: sell those cars, and I went, well, it just depends
[1:14:53] Speaker 5: on the day, you know. Catch me in the right
[1:14:55] Speaker 5: mood and look at something that I haven't driven in
[1:14:57] Speaker 5: six months and go, yes, I don't need this, so
[1:15:03] Speaker 5: he'll use as much space as you have. And I'm
[1:15:06] Speaker 5: not pitched for garage space, so it's that's a problem.
[1:15:10] Speaker 5: But yeah, I I you know, I can't help but
[1:15:14] Speaker 5: enjoy these things. And then you walk in the garage
[1:15:17] Speaker 5: and you smile. So but I hope, you know, I hope.
[1:15:20] Speaker 5: I hope everybody's still into cars at the end of
[1:15:22] Speaker 5: the year. I think they will be. I don't think
[1:15:24] Speaker 5: fossil fuel is going anywhere, and I think the pushback
[1:15:27] Speaker 5: on electric is hard. It's getting pushed back very hard.
[1:15:32] Speaker 5: I think internal combustion engine is here to stay, certainly
[1:15:35] Speaker 5: during my lifetime, and you can try to legislate it
[1:15:38] Speaker 5: out of inner cities and California and wherever else you
[1:15:43] Speaker 5: want to try to legislate it. Let me know how
[1:15:45] Speaker 5: that works out for you.
[1:15:47] Speaker 2: Well, Steve Sierra with that, that's a wonderful uh into
[1:15:51] Speaker 2: the conversation. Thank you so much for joining. It's always
[1:15:54] Speaker 2: such a pleasure.
[1:15:55] Speaker 5: Well, I'm not, in fact, Matt Miller. I'm Steve Siio
[1:15:59] Speaker 5: and I'm not six foot three.
[1:16:01] Speaker 2: You're the stand in now you're an official friend of
[1:16:04] Speaker 2: the pod.
[1:16:05] Speaker 5: I'm glad you're that. I'm honored to be here. Thank
[1:16:07] Speaker 5: you very much for asking me. I hope this is
[1:16:09] Speaker 5: entertaining to the folks who listened.
[1:16:10] Speaker 1: So that was so fun.
[1:16:12] Speaker 2: I always learn a ton when I talked to Steve,
[1:16:17] Speaker 2: and I've already seen him a couple of times down
[1:16:20] Speaker 2: here in Miami. I mean, gosh, last night RM sold
[1:16:24] Speaker 2: those last nine of the indie cars that the Indie
[1:16:28] Speaker 2: Museum is selling to basically fund their the rest of
[1:16:31] Speaker 2: their life. And they made almost thirty five million dollars
[1:16:36] Speaker 2: last night on nine cars.
[1:16:38] Speaker 1: Well nine lots.
[1:16:40] Speaker 2: One of them was an airplane but other than that,
[1:16:44] Speaker 2: pretty incredible numbers.
[1:16:45] Speaker 3: So that's awesome. So how are you down there for
[1:16:49] Speaker 3: the rest of the weekend.
[1:16:51] Speaker 1: I'm down here until Sunday.
[1:16:52] Speaker 2: So the big main auction that arm so Thebes is
[1:16:56] Speaker 2: throwing is this is, uh, this afternoon, Today's Friday.
[1:17:00] Speaker 4: I have to remind myself.
[1:17:01] Speaker 2: This afternoon and then Saturday and Sunday will be various
[1:17:05] Speaker 2: car events, and then next weekend is Amelia Island, the
[1:17:09] Speaker 2: Amelia Concord with the Gooding Christie's and Broad Arrow auctions too.
[1:17:15] Speaker 2: So it's it's I'm going to go back to La
[1:17:17] Speaker 2: on Sunday, but it is really these next two weeks
[1:17:21] Speaker 2: in Florida are the place to be if you're at
[1:17:23] Speaker 2: all interested in classic cars and even modern star very cool.
[1:17:28] Speaker 3: You know, on your way out you could drive up
[1:17:31] Speaker 3: to Daytona and watch the opening King of the Baggers
[1:17:36] Speaker 3: race at Moto America.
[1:17:39] Speaker 2: I would I would do that, actually, I I honestly,
[1:17:44] Speaker 2: I might even like that more than like a Motor
[1:17:46] Speaker 2: GP race, to be honest.
[1:17:49] Speaker 3: I'm except this weekend is also the start of Moto GP.
[1:17:52] Speaker 3: So I'm that's like my number one I know.
[1:17:57] Speaker 2: That's well, that's why I said there's something of about
[1:18:01] Speaker 2: a bagger race that strikes me as really hilarious.
[1:18:05] Speaker 3: It's fun I mean the bike I've never been to one,
[1:18:09] Speaker 3: and the rider. I mean we're talking about well over
[1:18:11] Speaker 3: seven hundred pounds here. You know, a Moto GP bike
[1:18:15] Speaker 3: weighs like two hundred, and the riders are like, you know,
[1:18:19] Speaker 3: ninety pounds, soaking wet. So yeah, it's just insane that
[1:18:24] Speaker 3: they can do this. But what's funny is at a
[1:18:27] Speaker 3: Moto GP race sometimes they'll show up with the baggers
[1:18:31] Speaker 3: and then they'll let the you know, the Moto GP
[1:18:35] Speaker 3: riders get on one, and they love them.
[1:18:39] Speaker 4: I bet. Yeah.
[1:18:41] Speaker 2: You know, it kind of reminds me when they do
[1:18:43] Speaker 2: like semi racing, like semi truck racing.
[1:18:46] Speaker 1: Yeah, for some reason, it's.
[1:18:49] Speaker 3: It's kind of like that, although it's I think it's
[1:18:52] Speaker 3: way cooler, just the fact that they slide these things
[1:18:57] Speaker 3: around so much. They don't have like quick shifters or
[1:19:02] Speaker 3: at least not blit throttle blippers anyway. Yeah. So, by
[1:19:07] Speaker 3: the way, I should point out I got home from
[1:19:09] Speaker 3: Austin and there was a yellow Corvette in my driveway.
[1:19:13] Speaker 4: What.
[1:19:14] Speaker 3: Yeah, so I've been begging Chevy to give me, just
[1:19:20] Speaker 3: a base modeled Corvette, just no frills, no options, just
[1:19:24] Speaker 3: a stripper, you know, to see what it's like, because
[1:19:30] Speaker 3: they only give me usually like the special versions.
[1:19:33] Speaker 1: Yeah, you need a baseline.
[1:19:35] Speaker 3: Exactly, and to compare to other vehicles because it starts
[1:19:41] Speaker 3: at sixty eight thousand. I don't even think you can
[1:19:43] Speaker 3: get like a Boxer for that much, you know, Yes, yes,
[1:19:47] Speaker 3: and so I've been. I mean, I'll get back to
[1:19:50] Speaker 3: you next week.
[1:19:51] Speaker 1: But I love that. How good is the yellow? Is
[1:19:54] Speaker 1: the yellow a good yellow?
[1:19:55] Speaker 3: I hope it's. I'm not a fan of yellow, but
[1:19:59] Speaker 3: it it's pretty similar to the Lamborghini Hurricane that I
[1:20:03] Speaker 3: had recently, that I had last year, the Stiato. So
[1:20:08] Speaker 3: I don't person. I don't know. I wouldn't get yellow
[1:20:10] Speaker 3: if it were me in almost any car. I can't
[1:20:13] Speaker 3: think of a car that I like in yellow. Is
[1:20:15] Speaker 3: there one you like?
[1:20:16] Speaker 1: The color of madness?
[1:20:17] Speaker 3: I just don't see it as a viable option. But
[1:20:22] Speaker 3: there are motorcycles I would choose in yellow, like a
[1:20:25] Speaker 3: Ducatti sport Classic, the first one that came out as yellow.
[1:20:28] Speaker 1: And well that seems more like part of the heritage
[1:20:32] Speaker 1: for sure.
[1:20:32] Speaker 3: Yeah, you wouldn't take a yellow car, would you, I know,
[1:20:35] Speaker 3: you like white?
[1:20:37] Speaker 2: If it was a C three in a butter yellow,
[1:20:40] Speaker 2: maybe like a buttery yellow.
[1:20:42] Speaker 3: I might fare a C three and hopefully it's faded
[1:20:46] Speaker 3: a little with patina.
[1:20:47] Speaker 2: Yeah, yeah, like really powder powdered, like a powdered yellow
[1:20:51] Speaker 2: with some patina. Maybe maybe, I don't know. I wouldn't
[1:20:55] Speaker 2: say no, but it wouldn't be my first choice.
[1:20:58] Speaker 3: Put it that way, What is usually your first like?
[1:21:00] Speaker 3: What do you gravitate towards color wise?
[1:21:03] Speaker 4: A great question.
[1:21:04] Speaker 2: It really really depends on the car, to be honest.
[1:21:08] Speaker 2: With Porsche's, I like the white ones, And I know
[1:21:11] Speaker 2: that's probably weird, but I really like the white ones. Yeah,
[1:21:15] Speaker 2: with something like a Rolls Royce. I do like like
[1:21:19] Speaker 2: a traditional green. I love a Champagne. I'm still looking
[1:21:24] Speaker 2: for a white Corniche.
[1:21:27] Speaker 1: Because I don't know.
[1:21:29] Speaker 4: I just think it'd be cool.
[1:21:31] Speaker 2: It really depends on the car. I guess I'm not necessary.
[1:21:34] Speaker 2: I don't typically go for red, ever, I love blue
[1:21:38] Speaker 2: for Ferrari.
[1:21:39] Speaker 3: To be honest, yeah, me too.
[1:21:42] Speaker 1: Yeah, it's somehow because red.
[1:21:44] Speaker 2: Yeah, McLaren cannot be orange like that. There are some
[1:21:48] Speaker 2: colors that are way over associated with a brand, and
[1:21:51] Speaker 2: I would never I mean, do you.
[1:21:54] Speaker 3: Feel the same way, yes, totally. H Well, I mean
[1:21:59] Speaker 3: so with Porsche GT. Silver obviously is a color that's
[1:22:02] Speaker 3: very associated with Brandon, I would be happy to have one.
[1:22:05] Speaker 3: I love that color, and same with.
[1:22:08] Speaker 2: Silver, like a silver bullet Aston Martin, I would get
[1:22:11] Speaker 2: the silver.
[1:22:12] Speaker 5: Yeah.
[1:22:12] Speaker 3: I think silver's a good choice for almost any car,
[1:22:14] Speaker 3: especially like a Mercury, you know silver. But I wouldn't
[1:22:19] Speaker 3: want a McLaren an orange either, or in any weird color.
[1:22:24] Speaker 3: But I don't really think i'd want a McLaren In
[1:22:26] Speaker 3: a Lamborghini, I would want like an aggressive orange or
[1:22:32] Speaker 3: like a.
[1:22:32] Speaker 1: I'd like a lime green.
[1:22:33] Speaker 3: Poisoned green.
[1:22:35] Speaker 1: Yeah, yeah, yeah, yeah, that's cool. That's very cool.
[1:22:37] Speaker 3: Lamborghini could be the color of a tree frog. I
[1:22:39] Speaker 3: like that.
[1:22:40] Speaker 1: Yes, that'd be very cool, very I totally agree with that.
[1:22:44] Speaker 3: But I typically gravitate towards greens and blues in almost.
[1:22:50] Speaker 2: Yeah an, I was just going to say, I think,
[1:22:54] Speaker 2: as a rule, in general, you can't really go wrong
[1:22:57] Speaker 2: with a green or a blue on most cars.
[1:23:00] Speaker 3: I also count out gray and black usually, Like if
[1:23:04] Speaker 3: I'm searching for a car an auto trader, I'll go
[1:23:06] Speaker 3: click every single color, but white, black and gray.
[1:23:12] Speaker 4: Yeah, I understand that. I mean.
[1:23:16] Speaker 2: Gray for sure. Are you into the chalk? Are you
[1:23:19] Speaker 2: into the like very you? Do you count that as gray?
[1:23:24] Speaker 5: No?
[1:23:24] Speaker 3: And I mean there are exceptions, right, Like for me,
[1:23:28] Speaker 3: portia is kind of an exception. There's and I got gray.
[1:23:32] Speaker 3: I like the chalks that they had for the fiftieth anniversary.
[1:23:36] Speaker 3: A yeah. And I also a porsia like. I would
[1:23:43] Speaker 3: take a porsiae in almost any color, you know, because
[1:23:47] Speaker 3: I think nine to eleven's look good no matter what,
[1:23:49] Speaker 3: as long as it's not one of the free colors,
[1:23:52] Speaker 3: so guard red, black or white and yellow those are
[1:23:56] Speaker 3: usually the free ones, right, and then all the other
[1:23:58] Speaker 3: ones are good.
[1:24:00] Speaker 1: You know what that reminds me.
[1:24:02] Speaker 2: I'm not going to name a name, but last night
[1:24:04] Speaker 2: in Miami someone was talking. Someone that I know got
[1:24:08] Speaker 2: an st and only had to wait six months for it,
[1:24:12] Speaker 2: which is pretty good. But the compromise was he had
[1:24:17] Speaker 2: to get it in white. Would you take that compromise?
[1:24:22] Speaker 3: Not a problem at all?
[1:24:23] Speaker 4: All?
[1:24:24] Speaker 1: Right, Well, there you were, there's our base.
[1:24:25] Speaker 3: I would take it in primer unpainted not.
[1:24:28] Speaker 1: Yeah, I don't even bother on it.
[1:24:30] Speaker 5: Problem.
[1:24:30] Speaker 3: By the way, I think a nine to eleven looks
[1:24:32] Speaker 3: great and white, especially if you have like red leather,
[1:24:35] Speaker 3: you know.
[1:24:35] Speaker 2: Me, oh oh so cool, me too, timeless, like cool,
[1:24:39] Speaker 2: a little bit of an attitude.
[1:24:41] Speaker 1: I totally agree.
[1:24:43] Speaker 3: Also, it's not the base white. I don't think you
[1:24:45] Speaker 3: could probably get an st with just the base white.
[1:24:48] Speaker 3: It's probably some special mineral, you know, alpine white.
[1:24:53] Speaker 4: Right.
[1:24:54] Speaker 2: Well, I was going to say, there are different types
[1:24:56] Speaker 2: of white, and I definitely am very against any sort
[1:24:59] Speaker 2: of pearl lesson scent white. There should be no paralyzed
[1:25:04] Speaker 2: anything in. It shouldn't be like a milky. It needs
[1:25:08] Speaker 2: to be like cocaine white. And no, Matt, please, no, no, no, no, no, no,
[1:25:14] Speaker 2: We're not crazy, Come.
[1:25:15] Speaker 3: On, cocaine white. They should call a color. Well, Lamborghini
[1:25:21] Speaker 3: should do that, you know. Yeah, yeah, brand Bolivian marching powder.
[1:25:28] Speaker 4: There you go.
[1:25:29] Speaker 1: Yeah, that makes total sense, especially for Miami, you know.
[1:25:34] Speaker 3: Yeah, one hundred percent for Miami.
[1:25:37] Speaker 2: I will say, speaking of black though, that Lamborghini Robuolto
[1:25:42] Speaker 2: I had that I infamously got a ticket in was
[1:25:46] Speaker 2: all black black black black, and that was a very
[1:25:49] Speaker 2: strong look.
[1:25:50] Speaker 1: It was very cool.
[1:25:51] Speaker 3: Yeah, triple black is a is a good choice usually, Yeah,
[1:25:57] Speaker 3: all right, well, cool, that's all we have for this week.
[1:26:00] Speaker 3: Next week I have my special embargoed news on Harley Davidson,
[1:26:06] Speaker 3: which I think is going to be pretty exciting. I'm
[1:26:08] Speaker 3: actually I'm hoping that pursuits even Princess story because I'm
[1:26:11] Speaker 3: gonna write a story for Chris exciting, and then I'll
[1:26:17] Speaker 3: come back to you with my experience in the Corvette.
[1:26:19] Speaker 3: I haven't had a chance to ring it out yet,
[1:26:21] Speaker 3: but I imagine for sixty eight grand and a Boxer
[1:26:25] Speaker 3: starts at like seventy five, I can't I don't get
[1:26:28] Speaker 3: why you would choose the Boxter, but.
[1:26:31] Speaker 2: Well, I'm going to wait to hear what you think
[1:26:34] Speaker 2: of the Vet. I mean, that's a whole lot of
[1:26:36] Speaker 2: car potentially.
[1:26:39] Speaker 3: Sure, it's you know, I don't know how what the
[1:26:42] Speaker 3: numbers are, but four hundred and fifty horse power right,
[1:26:45] Speaker 3: six point two liters of V eight it's behind you.
[1:26:48] Speaker 2: Yeah, So I'm cool, Yeah, cool, cool, cool.
[1:26:54] Speaker 1: Well, glad you're back.
[1:26:56] Speaker 3: I'm glad to see you, and look forwards next week.
[1:27:00] Speaker 3: I'm Matt Miller and I'm
[1:27:02] Speaker 1: Hannah Elliott, and this is Bloomberg

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