New money classic car choice

[Pilgrim65]

Appreciating the many fantastic cars shown in Walt’s and John s excellent ‘relieve stress’ thread, I know such cars are very expensive, but it makes me wonder if today’s extremely rich new money younger people consider these cars when splashing their cash on statement toys.

Speaking from a Uk prospective , we have a sizeable section of quite young people , sportspersons, you tube celebs and dot com entrepreneurs who make / earn vast , incomes and fortunes . Pubic knowledge all the top premier league team footballers earn 6 figures some 7 figures alone . 

However when you see or hear what they drive , they are mainly boring saloons,  

mercs and BMW’s , sports tourers  Ferrari’s ( money status symbol) or similar , but most often Range Rovers which are let’s face it tarted up, souped up revamped models of the old defender😄 made popular by old money country / aristocracy set.

Bearing in mind that new money often aspires to the life style and possessions of old money , you can understand the attraction .So you would think as old money , aristocracy , industrialists, plus old film stars etc, were the main owners of these wonderful pre war cars , they would be desirable to them too, but it appears their their choices are  hardly exotic and exciting,  or breathtaking beautiful as a 30s speedster , which they could afford.

I may be completely wrong , but as mentioned but having seen and heard many of these new money celebs interviewed about their choice of cars or seen arriving at venues , I never  seen or heard any of them state they own such a vehicle sadly.

Their is one well known DJ who has at least 7 Ferrari’s including classic super late 60s model, but have heard of little else.

I wonder if you have a similar situation in the States , I know you have many young rich including golfers, sports players, entrepreneurs etc , do any have a weakness for a 30s Classic, sleek exhilarating speedster. 😊

 

Edited March 28, 2021 by Pilgrim65 (see edit history)

[padgett]

Jag SS-100, Squire.

 

 

 

[Pilgrim65]

1 minute ago, padgett said:

Jag SS-100, Squire.

 

 

Exactly , wonderful

 

[TAKerry]

I dont know any young people that fit the category, but what the 'new money' of the youth that have found their riches are doing, mirrors exactly what you referred to in your post. They are buying the best, most expensive cars offered today. Much like the stars did 80 years ago when they bought Duesenburgs, etc.  

[1912Staver]

Everybody knows the only car to own today is a McLaren , don't they ?

 

 

Edited March 28, 2021 by 1912Staver (see edit history)

[1912Staver]

O sorry , we are talking about newly rich young people.  They don't even know about the McLaren's made when Bruce himself was still alive.

I guess it has to be one of the modern ; cash in on a great name, McLaren's. Not quite the same thing is it ?

 

[joe_padavano]

11 minutes ago, 1912Staver said:

Everybody knows the only car to own today is a McLaren , don't they ?

 

 

 

But it has to be this color

 

[edinmass]

Pilgram65..........yes, there are young people buying big early expensive cars. Most are very low profile. That said, you can’t want something if you don’t even know if it exists. Most people gradually work to earlier cars over time. I know several B’s...............slang for billionaires. Every single one of them has an everyday melt into the crowd car. Usually about five to ten years old. One of them bought the help’s old car! Since it was parked in the front of the house it was a perfect way to not let anyone know they are in town......or coming or going. Here in Palm Beach...............you see Rolls/Bentley like F150 pick ups in the rural areas of the country. Mercedes is next, then BMW. Also McLaren, Ferrari’s, Lamborghini.........and all the other suspects. I went to dinner last night with my modern super car club. There were two brand new Ferrari’s............convertibles. Nice cars, and we managed to keep in front of them regardless of how they tried to pass. We had drinks and one tossed me the keys............I smiled and laughed hysterically. The keys had a small wire loop with a yellow inventory tag like you get when you buy a used car at a GM or Ford dealership. He asked me what was so funny..........I responded a 400k car and no keychain? He thought about it and got upset.......at the dealer, not me. The car drove great. They are much more of an old mans ego machine with soft suspension..........although when you pound on it........it’s interactive and really firms up. Seven speed automatic with paddles..........to me it’s not a car if it doesn’t have a stick. 

Edited March 28, 2021 by edinmass (see edit history)

[1912Staver]

59 minutes ago, joe_padavano said:

 

But it has to be this color

 

 

 

Sorry about the color oversight Joe!  What in the world could be better than a 850 HP , orange Go Kart ?

Greg

Edited March 28, 2021 by 1912Staver (see edit history)

[padgett]

"What in the world could be better than a 850 HP , orange Go Kart ?" With a buffet tray even.

 

What were you driving that stayed ahead of the Furrys.

[Pilgrim65]

TEdinmass 

good story 😅

Also, the thing you said about young rich not knowing early classics until later must be very true and I feel obliged to apologise to any such person  who are read my post , one can’t be critical of someone’s choices if they unfortunately are not aware of sections of the market.

probably attributes to the fact that I don’t hear or see young rich celebs driving a car like the wonderful jag SS 100 posted above.

thanks 

Edited March 28, 2021 by Pilgrim65 (see edit history)

[John_S_in_Penna]

8 hours ago, Pilgrim65 said:

...having seen and heard many of these new money celebs interviewed about their choice of cars or seen arriving at venues , I [have] never seen or heard any of them state they own such a vehicle, sadly.

 

I must say that I don't follow or admire anyone

for his wealth or fame;  so it doesn't matter to me

whether he has a 1949 Plymouth or a 2020 Lamborghini.

I think the average carpenter or accountant or housewife

has qualities to be admired far in excess of those  

in the world of flash and glitz.

[1912Staver]

44 minutes ago, padgett said:

"What in the world could be better than a 850 HP , orange Go Kart ?" With a buffet tray even.

 

What were you driving that stayed ahead of the Furrys.

 

 

Am I correct in assuming you are referring to evading pursuit by law enforcement ?

 

Hard to do around here ,even back in the day. Too many interception points , due to the Vancouver B.C. area geography.  And no sense of humor at all when the long arm does catch up. Want to loose your car , spend time in jail, loose D.L. for a year { or more } and spend LOT'S of $ to sort it all out after the fact . Then roll the dice and give it a try. The boy's in blue are always up for a chance to put all their expensive toy's to work. They almost seem to see it as a game, except it is a game they win about 99  44/ 100 % of the time.

[wayne sheldon]

4 hours ago, edinmass said:

Seven speed automatic with paddles..........to me it’s not a car if it doesn’t have a stick. 

 

Or a manually operated planetary!

 

 

14 minutes ago, 1912Staver said:

The boy's in blue are always up for a chance to put all their expensive toy's to work. They almost seem to see it as a game, except it is a game they win about 99  44/ 100 % of the time.

 

My question would be are they honest? I have only been given two speeding tickets in my life. Both by officers that were either flat-out lying, or totally incompetent! Or both!

[1912Staver]

Around here they don't seem to lie much. I have had a few more tickets than you , back in my youth you understand. And in court the Officers pretty much stuck to the facts.  No need to exaggerate when they catch you well over the limit on an industrial road or almost empty highway.

The old days , Sports cars and Cobra Jet Fords. Plus my trusty ram air GS 400 Buick.

 Looking back it is lucky all my friends and I survived that era. In cars at least, once the Motorcycle phase struck a couple did not make it. 

 

Greg

Edited March 28, 2021 by 1912Staver (see edit history)

[padgett]

1912: was referring to this "Nice cars, and we managed to keep in front of them regardless of how they tried to pass."

 

Used to be the Palm Beach Police was about as close to a private force as possible. Many made some pocket change parking cars at parties and if a resident had a few too many drinks would drive you home. Of course that was a looong time ago. Also this applied only to residents.

[1912Staver]

Sorry, my mistake. I took furrys as " the Fuzz ". I see now that you probably meant Furrin Cars.

[padgett]

Furrrari.

[Pilgrim65]

Some have made the point they are not interested in the flash and glitz of these so called celebs 

i agree entirely I have no interest in any of them apart from the occasional car guy on Top Gear 

personally I think the money these top sport people earn  is excessive , but at least they use  effort and skill to achieve their goals . Whereas these reality so called celebs , leave me cold , can’t abide. Showing my age now sorry.

[John_Mereness]

On 3/28/2021 at 9:27 AM, Pilgrim65 said:

Appreciating the many fantastic cars shown in Walt’s and John s excellent ‘relieve stress’ thread, I know such cars are very expensive, but it makes me wonder if today’s extremely rich new money younger people consider these cars when splashing their cash on statement toys.

Speaking from a Uk prospective , we have a sizeable section of quite young people , sportspersons, you tube celebs and dot com entrepreneurs who make / earn vast , incomes and fortunes . Pubic knowledge all the top premier league team footballers earn 6 figures some 7 figures alone . 

However when you see or hear what they drive , they are mainly boring saloons,  

mercs and BMW’s , sports tourers  Ferrari’s ( money status symbol) or similar , but most often Range Rovers which are let’s face it tarted up, souped up revamped models of the old defender😄 made popular by old money country / aristocracy set.

Bearing in mind that new money often aspires to the life style and possessions of old money , you can understand the attraction .So you would think as old money , aristocracy , industrialists, plus old film stars etc, were the main owners of these wonderful pre war cars , they would be desirable to them too, but it appears their their choices are  hardly exotic and exciting,  or breathtaking beautiful as a 30s speedster , which they could afford.

I may be completely wrong , but as mentioned but having seen and heard many of these new money celebs interviewed about their choice of cars or seen arriving at venues , I never  seen or heard any of them state they own such a vehicle sadly.

Their is one well known DJ who has at least 7 Ferrari’s including classic super late 60s model, but have heard of little else.

I wonder if you have a similar situation in the States , I know you have many young rich including golfers, sports players, entrepreneurs etc , do any have a weakness for a 30s Classic, sleek exhilarating speedster. 😊

 

We have a couple clients via significantcars.com that found us via their broker or some other management professional helping them that suggested that if they love cars then they should have a little mix toward vintage cars to protect their investment dollar (and we handle it like any real estate deal or .... - with comps/appraisals, and ...) - unfortunately, most do not drive them though and they get hidden out of sight (and it makes sence via life and mechanical inclination, though I suspect as time passes on they will take more an interest in driving them). 

Edited March 29, 2021 by John_Mereness (see edit history)

[padgett]

Nothing new, the supercars are usually the realm of "second generation money" - the kids that grew up with it. Old money tends to buy more comfortable cars often ones a chauffeur can drive so no need to bother about parking. Will often have something "more interesting", usually a convertible, in the garage. "New money" tends to drive cars they grew up with but are always some who want "more".

 

Are outliers but it is usually the second generation (by the third much is usually gone) that tries to outdo each other and cars are just an object. This generation is often known for doing things to excess.

 

Do find it interesting that the second "resto-mod" Eleanor is more popular than the original mild custom.

[Buffalowed Bill]

Around here many of them just went for the Tesla Model S. Since the emergence of the X,Y and 3, I presume that they have moved in that direction.

[Cadillac Fan]

On 3/28/2021 at 2:33 PM, edinmass said:

Pilgram65..........yes, there are young people buying big early expensive cars. Most are very low profile. That said, you can’t want something if you don’t even know if it exists. Most people gradually work to earlier cars over time. I know several B’s...............slang for billionaires. Every single one of them has an everyday melt into the crowd car. Usually about five to ten years old. One of them bought the help’s old car! Since it was parked in the front of the house it was a perfect way to not let anyone know they are in town......or coming or going. Here in Palm Beach...............you see Rolls/Bentley like F150 pick ups in the rural areas of the country. Mercedes is next, then BMW. Also McLaren, Ferrari’s, Lamborghini.........and all the other suspects. I went to dinner last night with my modern super car club. There were two brand new Ferrari’s............convertibles. Nice cars, and we managed to keep in front of them regardless of how they tried to pass. We had drinks and one tossed me the keys............I smiled and laughed hysterically. The keys had a small wire loop with a yellow inventory tag like you get when you buy a used car at a GM or Ford dealership. He asked me what was so funny..........I responded a 400k car and no keychain? He thought about it and got upset.......at the dealer, not me. The car drove great. They are much more of an old mans ego machine with soft suspension..........although when you pound on it........it’s interactive and really firms up. Seven speed automatic with paddles..........to me it’s not a car if it doesn’t have a stick. 

That 812 GTS might be the last naturally aspirated v12 Ferrari convertible.   A successor to the 275 NART spyder and the California spyder. 
 

 

These are the cars , 50 years from now, that will be collected.  They are the Js,  SJs and SJNs, the 8Cs, the 851 speeders, the 734s, etc., of our time.
 

some really great cars have come out of the last 15 years.  

[1912Staver]

I think petty much any Ferrari has at least some collector interest as they age. And I guess it all depends on how you define " really great cars". I won't be around in 50 years so I will take your word about cars made in the last 15 years. From where I stand the big question mark with almost any car built over the last 20 years or so is the electronics. And in my experience the higher end the car the more complicated/ expensive/ likely to become obsolete the electronic components become.

None of my collector cars have any electronic components at all . And this is something I consider to be of a large benefit when considering the long term ownership of a given collector car.

 But people owning things like Ferrari's operate on a much different level than I do.

My most exotic car is a 1977 Lola Sports 2000. Actually a very simple track tool. Also a 1974 F3 open wheel car , but the Cosworth BDA has been substituted for the production Ford engine the Cosworth was developed from. That way a low budget guy like I am can actually afford to own it.

The thing that I like about pre- electronic cars is that I can personally handle almost any problem. Although I must admit a dyno would be a nice addition that I almost for sure must live without. Otherwise you name it and I can probably repair, fabricate , tune it. Not so easy with recent electronics. And if critical components become obsolete from the OEM supplier from what I am seeing its a very difficult situation. The higher end the car the more acute this becomes as the cars age from what I am seeing , hearing.

Edited March 31, 2021 by 1912Staver (see edit history)

[edinmass]

The new super cars are fun. They sure are fast, and the technology used in them is hard to comprehend. Even a lowly Tesla is much much quicker than most cars you have ever driven.  It will be interesting to see if such limited platforms will still get service updates, parts, and components when they are ten or twenty years old. Some of them are more prolific than you think, others are as rare as a SSJ. I don’t think working on them in the future will be much fun........unless your a masochist.

 

I think the Tesla’s will always find service. The crazy super cars not so much.

Edited March 31, 2021 by edinmass (see edit history)

[padgett]

Dunno, figure with enough time and money I could replace a GM ALDL computer with an Arduino (note have disassembled before, few years ago rewrote an 88 Reatta ECM (engine control module, are 6809 based) to install a five speed Getrag and an L-67. Have a .bin of most Reatta and Allante ECMs already, Moates.net has a number of bits.) No big.

[1935Packard]

I live not far from Silicon Valley, where there are a lot of very wealthy tech folks who I gather came to money fairly recently.  At least when it comes to that crowd, my sense is that those who are into cars are more likely to look to the supercar category than any kind of antique.  

[1935Packard]

8 hours ago, edinmass said:

The new super cars are fun. They sure are fast, and the technology used in them is hard to comprehend. Even a lowly Tesla is much much quicker than most cars you have ever driven.

 

The bananas acceleration of some of the Teslas must make it interesting when a Tesla shows up  at a gathering of Ferraris and Lambos and the like.    The top of the line model S promises 0-60 in under 2 seconds.   And for 56K you can get a Model 3 that does 0-60 in 3.1 seconds.  It's kinda nuts.

[alsancle]

Orin,  are you just getting up or did you not go to bed?

[Steve_Mack_CT]

I look at it as enthusiast, car guy vs. Collector.  Old/new money could be either.

 

The young successful guy with a Ferrari Marinella or Mustang GT with the latest full blown package is more of an enthusiast or car guy.  Same with the guy who has to have a perfect 60s muscle car, or maybe 78 TA, as it was a HS dream.

 

Collectors venture into various eras categories.  Believe it or not, lots of young blood within the prewar community, but miniscule compared to enthusiasts.  We may get 1,2 or 3% of the car guys in time, ok, supply is heavy now but they aren't making prewar cars anymore..

 

Either camp is A ok to me.

[Steve_Mack_CT]

On 3/31/2021 at 6:30 AM, alsancle said:

Orin,  are you just getting up or did you not go to bed?

Yeah, he keeps some weird hours.  I suspect he is one of those over acheivers who thrives on 3, 4 hours sleep per night.  Or, he is still an East Coaster at heart. 😉

[alsancle]

27 minutes ago, Steve_Mack_CT said:

Yeah, he keeps some weird hours.  I suspect he is one of those over acheivers who thrives on 3, 4 hours sleep per night.  Or, he is still an East Coaster at heart. 😉

 

The most productive smartest people I have known get by on 4 hours.   Then there is me...

Edited April 1, 2021 by alsancle (see edit history)

[Pilgrim65]

1 hour ago, alsancle said:

 

The most productive smartest people I have known get by on 4 hours.   Then there is me...

Margaret thatcher used to boost she only needed 4 hours sleep a night , not particularly a fan , but some people may have considered her smart and productive , pretty steely during falklands conflict , think she impressed  a well known ex actor 😄

Edited April 1, 2021 by Pilgrim65 (see edit history)

[Pilgrim65]

Was looking through some photos I took few years back and thought this 37 packhard is the sort of car I would buy ,  probably the sort  preferred by old money , but If I came into some money I would rather have this , than a new Ferrari , I know the Ferrari would be great fun to drive , but driving this Beutiful beast must be a treat to go anywhere 

[alsancle]

46 minutes ago, Pilgrim65 said:

Was looking through some photos I took few years back and thought this 37 packhard is the sort of car I would buy ,  probably the sort  preferred by old money , but If I came into some money I would rather have this , than a new Ferrari , I know the Ferrari would be great fun to drive , but driving this Beutiful beast must be a treat to go anywhere 

 

It is a 34,  they made 4 of them and if it is real figure 4-5 million.    I can't remember if that is the one we were arguing about being real from the Lee collection.

 

[Pilgrim65]

36 minutes ago, alsancle said:

 

It is a 34,  they made 4 of them and if it is real figure 4-5 million.    I can't remember if that is the one we were arguing about being real from the Lee collection.

 

Thanks , 4/5 mil , wow! knew I had expensive taste ,  may not be the one your thinking about as I took photo at beaulieu autojumble , even so would need some serious new money to buy it 

[1935Packard]

On 3/31/2021 at 3:30 AM, alsancle said:

Orin,  are you just getting up or did you not go to bed?

 

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