State of Collection Market, Matt Drives Harleys

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.

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Episode Transcript

Speaker 1 (00:02):
Bloomberg Audio Studios, podcasts, radio news.

Speaker 2 (00:09):
I'm Matt Miller and I'm Hannah Elliott and this is
hot pursuit.

Speaker 3 (00:16):
By the way, I got an email from somebody who said,
have you looked at Aston Martin stock lately? It's just
doing very badly? And uh huh it's I mean, I
pulled up the I always look at the comp on
the Bloomberg termino. There's comp which defaults to a five
year view and then it compares the stock to whatever

(00:38):
indexes it's on and stuff. Aston Martin stock is down
ninety percent in five years. Yeah, ninety percent.

Speaker 4 (00:50):
Yes, yeah, it's not good.

Speaker 1 (00:54):
It's not good.

Speaker 2 (00:55):
I mean to the people who love the brand so much,
like when you point that out, they get really upset
because obviously the brand is so beloved.

Speaker 3 (01:07):
But yes, it's not my fault. I'm just I got
a message from somebody who said, uh, let me see,
let me go back and find it. I won't name him,
but he says, have you viewed Aston Martin lately? Auci
I love the car No, a guy named David. He says,
I love the cars, but they can't seem to get

(01:28):
to free cash flow, unlike Yes, which is Ferraria.

Speaker 4 (01:32):
Yeah yeah, yeah yeah.

Speaker 2 (01:34):
Did you do you follow Lamborghini ks on Instagram? Chris
Sing No, you should follow him. He He had some
spicy comments about the Valkyrie on on an Instagram post today.

Speaker 1 (01:47):
Very apropodu to this topic. Yeah, I'll let you check
it out.

Speaker 3 (01:52):
Well, I'll check it out. But man, everybody just wants
to be Ferrari, and Aston Martin is the first from it.

Speaker 2 (02:00):
Let me tell you one thing though, speaking of Ferrari,
and this is going to lead into our topic. So
I'm in Miami. There are a bunch of car auctions here.
There's Mode Miami and Amelia Island happening this month in Florida.
I actually counted, and I talk about this with Steve Serio,
our guest today.

Speaker 1 (02:18):
There are fourteen Porschas that.

Speaker 2 (02:21):
Are estimated to be valued over a million dollars at
these auctions this week and only twelve Ferraris, so which
is unusual because Porsche's were never valued higher than Ferraris,
or even as high as Ferraris for a long time,
for many years. And speaking of everyone wants to be Ferrari,
we're not saying that Porsche's Ferrari yet, but there are

(02:44):
a lot of million dollar.

Speaker 4 (02:45):
Porsches out there.

Speaker 3 (02:46):
Yeah, that's crazy.

Speaker 4 (02:48):
Yeah, it's wild.

Speaker 2 (02:49):
It's actually and I actually misspoke when you'll hear in
the interview with Steve, I said there were equal amounts
twelve and twelve, but I went back and counted after
I spoke on the podcast, and they're actually fourteen. Porsche
is valued at more than a million dollars, including an
eight million dollar roof yellow Birds so kind of nuts.

Speaker 3 (03:08):
Ah the yellow Bird? Wait, yes, okay, I saw there
was a cool other people's porschees where I'm pretty sure
Magnets is driving with a roof, right.

Speaker 2 (03:19):
Yes, with a daughter, yes, yes, with Aluisa. Yes, very
very nice woman, really sweet and great sense of taste
and style and great driver as well.

Speaker 3 (03:31):
I'm not trying to promote other media, you know, it's
just I mean, really good show.

Speaker 2 (03:38):
We're not threatened. We hey like you know, we're we
got our thing going right, true.

Speaker 3 (03:43):
I'm sure you know we talk about all the time
that you know, younger people are going to these auctions
buying cars, so younger cars are selling for the high price,
and that makes sense to me then that Porsche is
starting to catch up a bit with Ferrari because they
are really younger.

Speaker 1 (04:00):
Right, Yes, well that's a great point.

Speaker 2 (04:03):
I was just I literally just came from the auction
preview tent before we are recording this on Friday afternoon,
and most of the Porsches that are over a million
dollars are not the three five six's or the plastic
porsches or the racing porches. They're the more modern stuff,
like you're saying, like the nine to five nines. There's
a nine to eighteen spy, a couple nine eighteens, some Kara. It's,

(04:27):
to your point, the more modern stuff. So this feels
like a shift.

Speaker 3 (04:33):
Yeah, because all due respect to like Stephen Harris, you
know that workitect who has a ton.

Speaker 1 (04:39):
Of sure, yes you can do his house, right.

Speaker 3 (04:42):
Yeah, it's not really When I say Porsche's younger, I
don't literally mean the companies younger. And I think the
company even predates well World War two to some extent, right,
So of course, yes, and Ferrari wasn't founded until nineteen forty,
But I just mean like the hot cars, like the

(05:05):
real body of work for Portia, I think after the
three fifty six and stuff, you know, the nine to
eleven really starts later like post nineteen sixty four.

Speaker 1 (05:14):
Right.

Speaker 2 (05:15):
You know a lot of people jokingly refer to the
three five six as just a beetle with a different
badge on it, which is true and not true, but
you kind of get what they're saying.

Speaker 3 (05:25):
I totally get it, and I wouldn't go that far.
Like I love the look of a speedster, and but
h I wouldn't really want to invest my money. It's
it's like a four cylinder motor, you know. Yeah, I
don't want to spend anillion dollars on that?

Speaker 1 (05:43):
Can I just ask you?

Speaker 2 (05:44):
And this is a wild change of direction, but are
you going to be buying, spending your money on a
new Harley Davidson anytime soon?

Speaker 3 (05:51):
So I am going to be No, you are, but
not because I mean I have planned on that for
a long time and or at least a year, and
my wife has a rule that I can only buy
one vehicle at fair a year, right, So this year
my choice isn't and has been a Harley Davidson. I've

(06:14):
been researching like crazy, but I did go to Austin
and ride the new twenty twenty five Cruiser lineup with
Harley Davidson and the most exciting part was the people
that I was riding with, Like the Harley crew is
such a passionate employee base. One of the lead PR people,

(06:38):
Jen Hoyer, is married to Mark Hoyer, and when I
when that clicked, I was.

Speaker 1 (06:43):
Like, what, I did not know they were married?

Speaker 2 (06:46):
Yeah?

Speaker 1 (06:46):
Serious, I mean.

Speaker 3 (06:47):
To me, he's a celebrity because I've grown up reading
Mark Hoyer, you know, I like listen to his podcast.
So I was, and she's awesome and she's been you know,
in the business, yeah for like twenty years. And yeah,
I got to meet Paul Weiss, who runs engineering for
the softail lineup. Totally cool guy who's like Wisconsin through

(07:10):
and through, rides seventy minutes each way to work commutes
on a bike obviously, And then and then I got
to meet the guys who were leading the ride were
these King of the Bagger racers, so James Rispolli, Kyle Wyman,
Travis Wyman, Cody Wyman, these three brothers who like all

(07:30):
ride for Harley. And it's so fun to hang out
with kids who are racers because they've grown up in
the paddock but they're still only like twenty years old,
and especially in this segment because it started kind of
as a fluke in twenty twenty race between big giant
heavy like eight hundred pound Harley's versus eight hundred pound Indians,

(07:53):
and who would have thought that was going to take
off and has become incredibly popular.

Speaker 1 (07:58):
That's so cool. Yeah, So did you have a favorite
of the of the bikes?

Speaker 3 (08:03):
Yeah, for sure.

Speaker 4 (08:05):
Okay.

Speaker 3 (08:05):
It's also funny because so I'm six three and all legs, Like.

Speaker 2 (08:10):
I noticed that on your photos on Instagram, right, you
put some photos up and it's like half legs.

Speaker 3 (08:15):
Right, So normal people, even who are my height, don't
have the same end seam. And as a result, on
the first day, we were riding the Breakout, which isn't
really my style, you know, it's for profiling. It's got
that big front wheel and huge fat rear tire which
I don't see it. We were riding the Fat Boy,
which is kind of cool. I like, you know, Terminator too,

(08:36):
just as much as the next guy, but it's not
a bike for me. It's not why I'm what I'm after.
And then we rode the street Bob, which it has
mid controls and I could barely get on it, like
it was like my legs, my knees were hitting me
in the face. So but so I'm like laughing as
I'm riding that bike, and I thought for the next day,

(08:58):
I knew we were riding the Heritage, which is, you know,
again an older not really my style, but I'm it's cool,
but I'm not into it. And then the lowrider s
and the Lowrider st those are the bikes that I
really wanted to ride, but their mids also, and when
I can figure them on the Harley website, I always
put you can put forward controls because it's like a
made to measure, you know, vehicle. But at the press

(09:23):
launch they didn't have They only had the mids. So
I was like, I guess I will only ride the
Heritage tomorrow and won't be able to ride the low Riders.
But then sort of halfway through the day for one
of the photo shoots, I just said, let me jump
on a low rider and do a couple passes.

Speaker 4 (09:37):
You couldn't resist.

Speaker 3 (09:38):
Unbelievable. Like the high output one hundred and seventeen in
cubic inch motor, they have a totally different obviously, they
have a totally different cam and a totally different tune.
So it's a like each bike is completely has its
own character, even though they're all the same motor and

(09:58):
they're all the same frame, and the I mean, the
thing just takes off like you put it in sport mode,
which they now have modes on these bikes. It's kind
of a newish thinking hardly and it was unbelievable, like
a slightly scary ride, which is kind of what I'm after.
Like it's like a puckering thing when you're when you

(10:19):
twist the throttle and you don't expect it to give
as much gas as it does, and when it's it's
much more flickable than you expect a Harley Davidson, like
a big deal motorcycle to be, you know, and it's
very nimble.

Speaker 4 (10:35):
And I.

Speaker 3 (10:37):
Interrupt, it's got a way, no, please interrupt as much
as you can. It's got a weigh six hundred and
sixty pounds. I'll google it, but it's it's gonna weigh
close to seven hundred pounds basically.

Speaker 4 (10:46):
That is so heavy.

Speaker 3 (10:48):
Yeah, I know, but you don't feel it all because
and I had never been either, Hannah, I had never
ridden a bike this heavy. And I kept telling these
guys like I'm used to do Kadi's Like, you know,
a four hundred fifty pound multi Strata is the heaviest
bike I've ever ridden. And by the way, on the
multi Strata you can kind of feel it because it's
that weights high up right, Yes, but this weight is

(11:11):
so low, the center of gravity is so low that
you really don't notice it at all.

Speaker 2 (11:17):
Wow, that's interesting. That's really so. Is this the bike
that you're going to be getting?

Speaker 3 (11:23):
No, No, I want the Fat Bob, which is a
bike that they stopped making in twenty twenty three. All right,
but it is a soft tail, it's a new soft tail.
It has the same it has one hundred and fourteen
cubic inch motor. It's no slouch.

Speaker 1 (11:41):
But it's how much does the writer st the lowriter
st the lowrider.

Speaker 3 (11:46):
St starts for twenty one grand? I mean, these are
not cheap bikes, right. The cheapest bike that they make
of the Big Twins is I think seventeen thousand for
the Street Bob. So they're really pushing into luxury territory
for a motorcycle or I would say that, although I
guess motorcycle prices in general are so high lately, but

(12:08):
you know, like one of the racers that we were
with was so excited because he's just ordered his own
Cvo road Glide, and I was like, that's so cool,
you know, for a twenty year old kid to get
a bike that is forty five thousand dollars.

Speaker 1 (12:26):
It's insane.

Speaker 3 (12:27):
That's a lot for a motorcycle for like a twenty
year old kid, right, I think.

Speaker 1 (12:31):
I mean, in my mind instantly go to what cars
could I buy for that?

Speaker 5 (12:34):
Yeah?

Speaker 3 (12:34):
For sure?

Speaker 4 (12:35):
You know, yeah, yeah.

Speaker 2 (12:37):
Was there any talk of how, you know, supposedly Harley
Davidson is really aging and motorcycle riding is going out,
and you know there was before.

Speaker 3 (12:49):
I mean, you know, it's funny. Before I went there,
one of the people on my TV team sent me
a promotion which was, if you come in and test
dride to Harley, you get a free proctology exam.

Speaker 1 (13:01):
Which no, was that real? Was that real?

Speaker 3 (13:03):
It was real? And it totally tracks like I'm fifty,
it's time for both things like now I'm going to
get into Harley's and I'm gonna have to start checking
out my prostate.

Speaker 1 (13:12):
You know, oh that is so bad.

Speaker 3 (13:14):
But no, most of the talk in Austin was about
just how expensive motorcycles are because people are trying to
put their finger on why aren't kids riding as much?
And you have somebody like Giddy and Litchfield. I mean,
the guy must be scared of his own shadow. His
idea is that, you know, it's too dangerous for this
new generation. But that's not right. No, come on, no, certainly,

(13:36):
not kids will do anything dangerous? Is a draw. I
think it's that they're expensive. Like what kid has seventeen
thousand dollars of disposable income at you know, seventeen, eighteen,
nineteen years old.

Speaker 2 (13:49):
And it's gonna buy a bike instead of a car.
That's the other thing, Like maybe you do have that much,
but you're probably not gonna buy a motorcycle.

Speaker 3 (13:56):
No not, I mean most of America. That just doesn't
make sense.

Speaker 1 (14:00):
Yeah, and uh interesting.

Speaker 3 (14:03):
I mean, look, motorcycle prices have been going up for
thirty years, wages have been stagnant. So yeah, that's why
people are buying these royal enfields they're selling.

Speaker 2 (14:14):
So I was just gonna I was just going to say,
I would be very curious to see, for instance, even
do Cottie's sales of their more Cafe Eraser, the scrambler type.
They're smaller, lighter, more basic bikes. I would just be
very curious, not the profits from those bikes, but how
the sales are doing, because those are way more attainable,

(14:35):
I think for sure, trying to get younger, new people
into it.

Speaker 3 (14:38):
You need look no further than bankrupt KTM. Right, they
can't move their twenty thousand dollars super dukes, which are
the most beloved motorcycles out there. From like a critical perspective,
like you know, Motorcycle Magazine riders love the thirteen ninety
super Duke. It's a beast literally, but those don't sell.

(15:01):
They sell the three ninety, they sell the little ones,
you know, they sell the dirt bikes because they're attainable.

Speaker 2 (15:09):
Yeah, it's not such a and like it's not such
a big deal, you know. Again, like I would say,
I am not a die hard rider. I don't need
to ride to live and to feel normal, and I
know some people do.

Speaker 1 (15:21):
But it's fun.

Speaker 2 (15:22):
I do enjoy it, and I have to think I'm
not the only one that like, you know, likes the
likes riding, likes having a bike, but I don't. I'm
not going to spend a ton of money. I just
need something more fun and easy and not a reclining
chair on wheels, so to speak.

Speaker 3 (15:40):
That's a bad rep you know. I was thinking about
that when I was riding the Heritage Classic around because
it literally it's so comfortable that yeah. Yeah, and it's agricultural,
you know, in the way, but they do that on purpose.
There is something to be said for riding around on
a living room sofa, Like it's you're still part of

(16:02):
the scenery, right, there's no, you're not stuck in a box.
And I don't wear a full face helmet all the time,
so like you're out in the open, and so it's
I think it's still enjoyable. Now, it's not really my
cup of tea either. I want to I want to
be throwing the bike into corners and you know, kicking

(16:26):
out the rear wheel. But I think I think there's
something to be said for especially as people get you know, older,
and need proctology exams.

Speaker 1 (16:35):
Oh that's too funny, that's so good.

Speaker 3 (16:38):
By the way, I have some news. There's news coming
on Harley next week that I think you specifically will
find really interesting, but I can't share.

Speaker 1 (16:49):
Is it something you can share now.

Speaker 3 (16:50):
Nope, it's under embargo.

Speaker 4 (16:51):
Okay, we'll talk about it next week.

Speaker 3 (16:54):
Yeah, right for sure, Yeah, one hundred percent.

Speaker 1 (16:58):
I'll look forward to that. I can't wait to hear.

Speaker 3 (17:02):
Have you been driving anything fun? I have you?

Speaker 1 (17:06):
Actually?

Speaker 2 (17:06):
I am in a BMW M five that our friends
at BMW have loaned me while I'm in Miami, so
I haven't Yeah, yeah, I haven't driven it that much
because I literally landed at the airport at five o'clock
last night and just drove, you know, five miles from
the airport to the hotel.

Speaker 4 (17:26):
So I haven't driven it much yet.

Speaker 2 (17:27):
But that is what I am and this weekend and
we'll be reviewing, and I'm excited. I haven't been in
a BMW in a minute, so I'm excited about that.
And then let's see I've got I think I've got
some more Mercedes next week. Oh but you know what
I'm also really looking forward to. And I think I

(17:49):
said the Cadillac Escalade IQ.

Speaker 3 (17:53):
I saw I saw one on the road in Austin. Yeah,
the whole group of us on the road. The whole
group of us was riding back to Barton Creek, and
I look ahead of me and I see, I'm like,
that looks like an escalade but also like a range Rover.
And wait is that it couldn't be Yes, it is

(18:13):
the Cadillac IQ, and I was super pumped. All the
moto journalists were like what huh nobody?

Speaker 1 (18:19):
Uh did you see who was driving it?

Speaker 4 (18:20):
Was it?

Speaker 1 (18:21):
Who? What type of person?

Speaker 3 (18:22):
It was like a soccer mom driving it?

Speaker 1 (18:25):
Oh way?

Speaker 3 (18:26):
Wow? I mean I'm not sure. I didn't see the driver,
so I don't know. But it was like a regular
It wasn't any kind of uber or like corporate uh
you know, limousine.

Speaker 5 (18:39):
It was.

Speaker 3 (18:39):
It was a dirty, already dirty like local vehicle.

Speaker 4 (18:44):
Cool. Well, I'm excited.

Speaker 2 (18:46):
I mean, I remember they've been talking about it for
a long time, so I'm excited to drive.

Speaker 1 (18:50):
I'll drive that in a week or two.

Speaker 2 (18:52):
Speaking of Cadillac, I also finally saw for the first
time today the Celestic there high end luxury wag anything
that they're going to try to take.

Speaker 1 (19:04):
On World's Royce with. I saw it today. Have you
seen that in person?

Speaker 3 (19:08):
No?

Speaker 1 (19:08):
Or no?

Speaker 4 (19:09):
Yeah?

Speaker 3 (19:10):
I don't think of when you say the Wagony, I
think of what's the other one they have that's like
the other electric the lyric lyrics, the lyric.

Speaker 1 (19:19):
Yeah, this one is lower and longer than that. But
it has like a you know, a bit of a
station wagon back end.

Speaker 3 (19:26):
But didn't you drive like a production, a pre production
version of that?

Speaker 4 (19:31):
Oh I didn't. I would really like to.

Speaker 2 (19:34):
I think at one point I might have been close
to it and it. Honestly, it seems like they keep
pushing pushing back dates and things around.

Speaker 3 (19:45):
It looks French to me.

Speaker 2 (19:47):
Well, some of the designers are French. Some of the
people working. It's like the team that's making it is
mostly women. And yeah, there are several Europeans on that team,
so they'll probably be happy to hear you say that.

Speaker 3 (20:00):
I didn't mean it in a good way.

Speaker 2 (20:03):
Anybody calls something French, I think that is the height
of sophistication and luxury.

Speaker 3 (20:10):
I mean, I know that there are people who prize
their Citroyan.

Speaker 1 (20:14):
You've been in Texas too long?

Speaker 3 (20:16):
Yeah, No, I prefer the Escalade IQ.

Speaker 4 (20:21):
All right.

Speaker 1 (20:21):
Well, to each to each their own.

Speaker 3 (20:23):
I'm actually I actually I need to call someone at
Cadillac and hopefully they don't listen to this, and and
say when can I drive an Escalade IQ? Because if
there are you know, retail people out there in one
already completely.

Speaker 1 (20:37):
And then as to apples.

Speaker 3 (20:40):
And I love all of like all the GMC big
electro trucks. I've driven the GMC Hummer, and I've driven
the GMC Sierra EV and I love them.

Speaker 4 (20:51):
Yeah.

Speaker 1 (20:52):
I had so much fun in the Hummer.

Speaker 2 (20:54):
Honestly, I was not thinking it would be anything particular.
I don't know, I just want to went in not
really knowing what to expect.

Speaker 1 (21:03):
It was so fun. I mean it was. It was
so fun. It really put a smile on my face.
And what more can you ask for?

Speaker 3 (21:10):
That's what it's all about. M m all right, should
we get to Steve Cereal?

Speaker 2 (21:15):
Yeah, this was a conversation that I had with Steve
while Matt was off writing Harley's in Austin, So you
were definitely missed, Matt. But we tried to cover some
good ground about what's happening in the classic car world,
the auctions going into the summer. And it's great because gosh,

(21:35):
Steve has been in this industry for thirty years and
I think he's probably our most frequented frequented guest on
the show.

Speaker 1 (21:45):
At this point. Possibly I think this is his third
time coming on.

Speaker 3 (21:50):
Well, but I'm excited to listen. Let's play the tape.

Speaker 2 (21:54):
I want to just start with kind of a quick
recap of Paris. I know you were just at Retromobile
and I kind of heard through the grape vine that
Paris was strong on sell through rates but sort of
weak on values.

Speaker 1 (22:09):
I'm wondering if that was your.

Speaker 2 (22:11):
Takeaway, and is that an indicator for what we can
expect going into the spring with the Florida auctions.

Speaker 5 (22:18):
Well, I think Paris, I mean was interesting on a
multitude of levels. I went to go try and buy
a few things, which I failed at because there wasn't
enough of a spread between I'll put it in another way,
there were no bargains there. And I think if you
were a European end user, if you were looking for
a particular car from especially the older things again from

(22:41):
the fifties and sixties, which have I think they've hit
there in the deer they've gone, They've gone to their
point of correction, and now people are jumping back in,
going all right, these have come down enough in the
last twenty four or thirty months, and it's time to
buy something. And if you were an user looking for

(23:01):
an old Aston Martin, looking for a certain Ferrari, looking
for Jagger, whatever it was, that was the time to
buy something. So there, you know, with all of the
the myriad of fees and taxes and VAT, you gotta
have to sit there as an American and go, what
is this actually going to cost me? So if I
add twenty percent to the final hammer price, I should

(23:24):
be okay exporting the car to the States. Yeah, the
cell through numbers were strong. I mean I have said,
you know Bonhom's in their beautiful Grand Pelee display had
I thought, and this is I'll try not to be
unkind because my consolieri Sid said, don't say anything that

(23:46):
will get you in trouble with Bloomberg. We don't want
to be edited out being honest. I think that. I mean,
the cars were for the most part incredibly subpar, and
they to their credit. I mean, and I'm talking about condition,
I'm not talking about you know models. They had some
very desirable models. They had some, Yeah, they had they
had some a handful of very desirable and oddball things.

(24:09):
But between art Curial RM and Bonhams, if I were
writing the reviews, bonhom has knocked the ball out of
the park with what they realized for these cars. I mean,
I'm I'm still shocked at sometimes the and this is
r M excluded the lack of quality and presentation with

(24:32):
some of the European auction houses. And you know, let's
not clean the car, let's not vacuum it out, Let's
not clean out the glove boxes. Let's not present them
as best we can. It's just not important to the
buyer there.

Speaker 2 (24:45):
I guess has it always been like that in Europe?

Speaker 5 (24:47):
Yeah, I've always walked I mean I've walked through the
art curial auctions and kind of gone really cigarettes and
the ashtray guys, I mean.

Speaker 2 (24:54):
Over in Paris, I don't know Juliette Binoche smoke, which
one left it there? I'd leave that too.

Speaker 5 (25:02):
Yeah, to be so lucky we can pull some DNA
off this and cloud Cloner. Yeah, it's so. To your
original question, I think Bonhams knocked the ball out of
the park. I mean, RM, everybody was waiting for the
LM to sell for big dollars, and you and I
and we talked about it prior to it did sell
for big dollars. There was plenty of spirited bidding, and

(25:26):
it sold for I don't know, maybe ten percent more
than what some of us thought. But RM had a
great sell through rate. They had fantastic presentation. When you're
you know, you're in the basement of the louver, it's
tough to be it really is. And I was I
was really wholeheartedly impressed with what Art Curial had to offer.

(25:50):
I mean, they had some big Ferraris, they had some
big Bentley's that there were. There was a smattering of cars,
and if you dissect the cattle, a lot of it
is the stuff that I guess guys like myself and
a handful of people who have dealt in this era
car for thirty years. It's all the stuff that's kind
of not in vogue right now. And they still an example,

(26:14):
pick any of the Alpha Montreal or that comes to mind,
or any of the Jags, the early x k's. There
was an absolutely heinous colored, non original color three fifty
six portsche Speedster that still did okay. And then there
was one collection of one. Gentleman gave them four Bentley's

(26:36):
to sell. The early cars did not sell, which are
difficult to sell. One of the later Bentley convertibles, late
eighties cars sold, So it's a lot of that stuff
that is just not of of the minute, is not fashionable.
And I think the other side of that is if

(26:56):
you've wanted one, now's kind of the And that's I'm
not trying to have a self fulfilling prophecy and to
sort of say, yes, go out and buy a car,
and you know, engage your local person like myself to
go out and get it for you. But I mean,
I'm speaking from the heart. I mean I've purchased a
couple of cars from you know, the fifties and sixties

(27:19):
in the last year that I had no business trying
to afford ten years ago, And because there were a
third of what they were ten years ago, I thought, well,
I'm going to live by my rule of buy this
because you love it and you want to drive it,
and don't know, if you can actually walk away from

(27:40):
something breaking even or making a little bit of money
or losing a little bit of money, you've succeeded. Yes,
And that's been my own credo since I started in
nineteen eighty seven. Don't don't look at this as you
know investment. There are sure things to invest in this market,

(28:01):
the more modern cars are more of a sure thing
until they're not.

Speaker 4 (28:08):
So.

Speaker 2 (28:09):
Going into the Florida sales, both Mode of Miami in
Coral Gables and then of course the Amelia at Amelia Island,
what are you expecting to see in general the same
attitude and also I want to hear like specific cars
that you're going to be watching as significant in some way.

Speaker 5 (28:30):
Yeah, I think I think this is, you know, the
equivalent this week in Florida or these ten days are
the equivalent of what Arizona used to be for my world. Yeah,
the Scottsdale sales, Yes, I think now with Gooding and
broad Arrow at Amelia Island and RM taking over Mode

(28:51):
of Miami, this is the real benchmark for where we're
going to be in the first and second quarter of
the year. Really as a run up into the summertime,
this should set some kind of pace. I think RM
benefits from that first night of their eight I think

(29:12):
it's eight lots that are coming out of the Yes
and one thing about before I forget about this because
it ties in I was talking to in Paris. I
was talking to a great many people who are all
lamenting the fact that you know, the German economies in
the toilet. The French aren't really buying a lot of cars,
the Italians aren't robust right now, and the Netherlands is

(29:35):
kind of okay. The UK market is a little softer
than it should be. I think what I took away
from it was, especially from the German dealers, that the
brick and mortar stores and the folks normally walking in
and requesting certain things are not buying cars. But the

(29:57):
really wealthy top of the food chain guys are spending
all the money and they're seeing I mean, and I'm
talking about collections. It could be ten or two hundred cars.
These guys are coming in going well, everything will buy
on the dip. And now we now see things that
you know, X, Y and Z are on our you

(30:18):
know radar. And what made me think of that is
the nineteen oh seven Mercedes that RM has coming up,
that came out of the Indie Museum, and I know
there were two very prominent German buyers on you know,
thinking about coming over to bid on the car. And
when you hear that, you know they're not interested in
the pedestrian stuff, but they'll be strength and you know

(30:40):
that car I think the nineteen fifty seven SS Corvette.
We've got the nomenclature right.

Speaker 2 (30:46):
Chevy Corvette SS project estimate five to seven million dollars.

Speaker 5 (30:50):
Yep, that's I mean talking about Yeah.

Speaker 2 (30:53):
The estimate on the Mercedes that you just mentioned is
seven to nine million dollars.

Speaker 5 (30:57):
There's there are buyers, and those things cannot be replaced.
They haven't changed hands in forever. There's no you have to,
you know, dig into the history just you know, is
this the real deal? That none of that, none of
that pertains metics been vetted by the Indie Music Museum.

Speaker 2 (31:18):
Yeah. I mean, you can't really ask for more than that.

Speaker 5 (31:20):
No, And I think, you know, RM starting off strong
with those cars is very wise. I mean I had
a chat with Gord Duff when they got those cars,
and they couldn't have been happier, and I'm happier for them.
I mean, it's it's great. This is gor RM.

Speaker 2 (31:37):
Yes, going back to this indie thing, of course, we
all watched the sale of the Mercedes Streamliner and Stute
Gart a couple of weeks ago as well, which was
another part of this Indy Car h or Indie Museum
series of sales. What was your take on that result,
and does that indicate anything for the values of Mercedes

(31:58):
in general or is that sort of you know, out
of a spectrum.

Speaker 1 (32:02):
It's its own standalone thing.

Speaker 5 (32:03):
That's that's exactly what it is. You just put a
bow around it. It's you know, it's not one of one,
it's one of a handful. It's a thing that you
I hope the person who buys it restores it to
the point where they can use it. And it's not
just static art. But that's that's a It's just like

(32:24):
the car that's sold a few years ago for one
hundred and forty two.

Speaker 3 (32:27):
Million dollars now Mercedes, Yeah, it's yeah.

Speaker 5 (32:30):
Yeah, the Ulin hout pro you know, sort of prove
that it's just not all Ferrari and Portia and it's Mercedes.
Benz Is. It's significant on every historical level in the
collector car world. And yeah, they don't make sports cars
per se, but boy, when they make something that people

(32:51):
want and it's significant in history, there's no shortage of
interest and people going to buy them. I mean, I
understand the Streamliner is coming back to the United States,
is what I was told. I don't know who the
final bidder was I knew. I think I believe I
know who the underbidder is. But things like that, much
like the handful of cars at Thursday at RM from

(33:14):
the museum, it's it's significant. I think that car was
on the money. I mean it's fifty three.

Speaker 2 (33:21):
I think it was the final with all the fees
and everything. So it sounds like what you're saying is,
regardless of whether we're in Europe or in the United States,
the highest echelon bid or the most elite collector is
going to be buying and that remains unaffected.

Speaker 5 (33:39):
That's that is a tiny part of the collecting world
and that's completely unaffected. It's it's that part of the population.
I guess, in the grander scheme of what's going on
in the economy of the United States, when they say,
you know, ten percent of the population is spending sixty
percent of the money on luxury goods and items that

(34:01):
you know they're not hurting for money. Well, these guys
just keep adding to their collections that are generational and
they're not buying them to re sell them. They're not
buying them as investments. They're buying them as things that
they want to acquire and appreciate.

Speaker 2 (34:15):
Now without getting too political, I am very curious about
we can get you know, for lack of a better word,
the Trump effect, we've got a new person in the
White House, a completely new administration. Is that affecting We've
got you know, lots of things coming down the pike

(34:38):
might affect people with money or without money. How is
that affecting the choices that these buyers are making?

Speaker 5 (34:46):
The pike is a traffic jam right now. I don't
know if it's because there's a collision going on or
it's just busy that you know, it's above my pay
grade to talk about the ECONO.

Speaker 4 (35:00):
Like never stopped usk.

Speaker 5 (35:01):
Yeah, I know, I know, I know. Well, what I
will say is the year leading up to the election,
everybody had an excuse that would make them feel better
to not spend money. Yes, you know what, Well it's
an election year. Well what is that going to do

(35:22):
to you in the car that you want to buy?
At the end of the day, and unless you're working
in Washington and your job may not exist anymore. And
nobody knew that. Nobody knew that, you know that the
administration was going to burn everything to the ground and
then start up again. And you know, effectively lay off
a few hundred thousand people given their opportunity. There was

(35:44):
always an excuse twelve months out, and whether it was
in Israel and Gaza, Ukraine and the Soviets, is China
going to invade Taiwan I'm not happy about. You know,
there's always a reason, and it's it's purely psychological mental masturbation.
I mean, it's all it is. It's just okay, well,

(36:07):
you know, if you're not comfortable enough spending your own money,
just say it just now is not the right time.
But whoever's going to become president, unless unless he's going
to give you a job in the White House and
take up all your time where you can't do the
Colorado ground or you can't go to Pebble Beach, what
does it matter. It's it's all. It's mental duck soup.
I mean, it really is. It's people gnashing their teeth

(36:31):
for the art of gnashing their teeth. And I always,
you know, having to make a living at this, you
kind of politely so sort of live and listen and go, okay, well,
does that mean after the election you'll be spending money?

Speaker 1 (36:47):
Because that was my next question.

Speaker 5 (36:49):
Yeah, I mean, I haven't seen anything change, but looking
at the whole year, I mean, nothing has stopped people
from spending money. In the last twenty four months. I
think there have been massive corrections in the marketplace, but

(37:11):
the amount of commerce and the transaction rate, and you
look at the obvious things. You look at bring a
trailer having sold forty four thousand cars last year online. Yeah,
I mean for a bill it's a billion five And
you know it's it's that that whole paradigm shift affects

(37:33):
everything in the collector car world.

Speaker 1 (37:35):
You mean the shift to buying cars online.

Speaker 5 (37:38):
Yeah, I think for as much lamenting in my peer group,
with people not transacting the way they used to. And
by that, I mean, you know, brick and mortar and
or website sales seem to be you know, the old

(37:59):
splinter in your in your thumbnail. I mean it's one
of those. I've had this car for six months and
i haven't had any interest in it, and I think
I've priced it right. And then if you put an
accelerated time frame for someone to make a decision to
buy something, you can sell it by meaning if you
put it in an auction like we're going to see

(38:20):
over the next ten days that are alive, or if
you give it, you give it a shot online, you'll
sell it. You if you're a sense of urgency, Yeah,
if your intent is to sell something and not hold
out for a dollar amount that you think is correct
versus what the market insists is correct. Everything should come

(38:44):
online at no reserve and everything will sell. Everything will
find a home, the only things. And I'm my own
little world. I can I can watch this on a
micro level, and I've got nine cars on bring a
trailer right now this week. This is part of your
grop yes with with cam Ingram friend, and we try

(39:06):
we don't want to take these cars home. We want
to sell all nine cars, and we try to work
all of the cars except one or on consignment, and
we try to tell the people who are giving us
the cars to sell. You know, I don't care what
you think it's worth. And you cannot cherry pick high
numbers from the past six months of things that kind

(39:29):
of relate to your car. If you put this on
here at no reserve, you will get all the money
in the world because there are seven hundred thousand registered
bidders watching this and if they all you need is
two people to decide they want your car. So if
you have something, especially if you have something that is unique,
it's unrepeatable, it's fairly priced, and it is without exception,

(39:52):
it's gone. It'll be sold. And the only reason why
things don't sell. And I've got three Ferraris in the
last sixty days that have not sold were because the
owners were ten percent optimistic on their price and we
couldn't talk them off of that cliff. It was like,
this is not going to work, and we can give

(40:13):
it a shot. And if all these cars fall ten
to fifteen percent short in the bidding, well, I don't
want to be right because I'd rather sell the car, right,
you know.

Speaker 2 (40:23):
How to make money.

Speaker 5 (40:24):
Yeah, just because it has a Ferrari badge on it
doesn't mean it's going to immediately sell for what the
last one sold for, any more than a Porsche Badge
or a Chevy Badger or anything else.

Speaker 2 (40:43):
Can we talk about this for a second, this idea
of listing a car at no reserve. Yeah, because Matt
and I have talked about this a lot. It sounds
like you're saying every car, if it's sold online, should
be offered at no reserve. Is that what you're saying,
or is there a case for some cars have a
reserve price?

Speaker 5 (41:02):
Well, I mean, I mean the reality tell.

Speaker 2 (41:06):
Us the game theory behind it.

Speaker 5 (41:07):
The reality of it is, if you really want to
sell something and you want to make space in your
garage where you need the money and or the hundred
reasons that you want to sell your car, if you
put it on it a reserve, it's going to sell. Now.
If you panic at the last moment and you think
your car is orth one hundred thousand dollars and everybody

(41:30):
thinks it's one hundred thousand dollars and on that day
it's seventy five thousand dollars and the final BID's coming down,
the reality of it is you can buy the car back,
go to a friend. I mean, I dare say this
is not nothing that you want to do and or
should be promoted, but have somebody register legitimately. Obviously, you

(41:50):
can't bid on your own car, so do not prop up.
Do not prop up your own car with your own
false bidding, because you get caught doing it, it'll be
embarrassing for.

Speaker 1 (41:59):
Everybody, get kicked off the platform.

Speaker 5 (42:01):
Yeah, it's just it's no bueno. So have a friend
who has a credit card register under his name, and
if you want to buy your car back, you pay
the fee, pay the seven and a half percent up
to one hundred thousand dollars to buy your own car back.
And then what I like to say to people is,

(42:22):
all right, well, you just bought your car back for
that number, and that's only awful if oh, you've owned
something for twenty years and you paid twenty five thousand
dollars for it, now you think it's worth two hundred, right,
and it gets bid to one fifty and you have
to buy it back. Well, you just bought your you.

Speaker 1 (42:42):
Just raised your just your bottom line, you just raised.

Speaker 5 (42:45):
Now you you just bought your own car back for
one hundred and fifty thousand dollars plus the fee. So
there is a I don't know there's going to be
a psychological term for it. And I'm sure if I
slept on this and thought about it as a homework assignment,
i'd give you a clever title for this chapter. But
there's a there's a mental number in someone's head when

(43:06):
they buy something and they think this is what it
should be worth. It's impossible. It's like trying to run
a road race holding a cup of hot water. You
can't do it every day in and out, because I
say to people all the time. And then we'll get
to go back to your question about what I'm looking
for in the auctions.

Speaker 1 (43:24):
Yes, we'll put it there.

Speaker 5 (43:26):
We have it's it's the word for this year is
mercurial or it's it's. I suppose that's fair as unpredictable
because and I've said this to clients, you can have
two of the exact same cars, and I mean identical

(43:48):
examples of something, and you sell one on Tuesday. There's
no guarantee that second car will sell for the same
amount on that Wednesday. There's just no there's no predicting
it right now now, which is the modern car world,
the modern collecting world, the wanting buying world, with all
of this information coming at you twenty four to seven

(44:10):
online and time kills all deals. The minute somebody starts
thinking about something, they will derail themselves in the process
faster than anything else. They will certainly convince themselves that,
you know, the number is not right now, is not
the right time, whatever it is, and gone other days

(44:32):
are you know? The simple impulse buys I don't think
there are very few impulse buyers right now, and I
think you know, that's the difference between twenty years ago.
People would go, let me try that out, give this
a shot. Everything is very well calculated for good or
for bad now. I mean it takes away a lot
of the fun impulse, and then I suppose prevents a

(44:53):
lot of people from making mistakes as well. But it's unpredictable.
The market is utterly unpredictable.

Speaker 2 (45:01):
So it sounds like you're saying that online auctions have
certainly changed the market. But the truth of the matter
is also that we still have public live brick and mortar,
for lack of a better word, sales too, And it
seems like there is a place for that type of auction.

Speaker 5 (45:20):
You cannot have one and not the other.

Speaker 2 (45:23):
What does What does the live auction, the traditional auction
give that people want that still has value aside from
the online auction.

Speaker 5 (45:35):
It's like having it. You know, do you want a
house in New York or a house in Los Angeles
or both? You know you want to do both both,
And it's a good question. The live auctions will always
They're always needed, and I think the obvious example is
you know why you cannot sell that Streamliner or the

(45:57):
two fifty LM or any of these indie cars on
an online platform. You need to see them, You need
to be part of the process, You need to do
your due diligence, You need to properly have access to
the automobiles. You know, in many ways, you have more
access to something you're buying online if you make the

(46:18):
effort to go visit the car before it gets sold
and you can take it out for a proper test,
drivenue that yeah, and you can do a compression, the
leakdown test, and you can maybe do some metallurgy tests,
or you can do whatever you need to do. There's
more in many ways, more access where some of the
live auction companies don't let you drive a car, or
they drive them for you, which is a little unfair,

(46:41):
but there are certain cars that they just benefit from
being in a live room with a proper live presentation,
and that boils down to you know, collections. I'm thinking back.
I'm thinking back when David Gooding sold a Fellow. But
then if Hubert Fabrey's cars in London a handful of

(47:01):
years ago, those weren't cars that you sell online. You
need to sell those vintage Bugattis and Elphas and a
special Aston Martin special Ferrari. There's things you need to
you need to see, and they need to be promoted
differently than a seven day auction online. It's not I

(47:24):
don't want to say top of the food chain. Stuff
should be sold live because that's unkind. And there are
plenty of cars that have sold for over a million
dollars and up to I think four or five million
dollars online, but they're more commodity items that are easier
to understand looking at two or three hundred photos and
watching a video than actually going in person and appreciating

(47:49):
whether it's calling those cars the old masters of the
collector car world versus the taped banana on the wall.

Speaker 2 (47:56):
You know, agree with you, but okay.

Speaker 5 (48:02):
Just prove proving how much money is out there.

Speaker 2 (48:06):
There's a sense of occasion there, there is a yeah and.

Speaker 5 (48:11):
This you have to you have to have both. There's
plenty of room in the world. I would never advocate
for just one or the other. I mean, the simple
fact of the matter is, and I think you'd get
this by no means, do I know this? You know?
Can I tell you what's in Randy Nunnenberg's head after

(48:31):
having created Bring a Trailer. I don't think Randy in
his craziest, wildest, quietest dreams, would have said, we're going
to sell, you know, a thousand cars a week or
eight hundred cars a week, and this is going to
be the shift. This again, I use the overused phrase

(48:52):
of paradigm shift in the market, but I I don't
need a showroom anymore. I need a place to photograph
cars and you know, put him on his site and
sell them. I don't think. I mean, there are entire
businesses now that have populated the United States and now
going into Europe, where you know, you have Bring a

(49:12):
Trailer partners. I mean, I'm one of their partners for
the state of Massachusetts. But you've got businesses set up
with ten, fifteen, sometimes twenty employees. And now this gentleman
who runs the under the name sixteen hundred Voloce online,
he's got a spot in the Northeast, and now he's
opened up a spot in Germany because he's accessed a

(49:34):
huge collection of cars. And you need a presence in Europe,
and you need a presence in the United States, and
so now there are all these little you know, it's
sort of the online version of people making money off
of TikTok. Well who knew people could make money off TikTok? Yes, well,
apparently there are seven million people that earned some sort
of living off of TikTok. And now there's hundreds of

(49:54):
people making a living off of online auctions. So it's interesting.
And bring a trail is not the only one. I
mean cars and bids and you have collecting cars and
you know that's it's a booming business. And I think
there is a little auction fatigue. I mean that's the

(50:17):
other thing which leads to unpredictability in the marketplace. I mean,
it's so easy to buy a car now that it
takes away some of the special focus that you used
to have to go digging, you know, right.

Speaker 2 (50:32):
Or wait, like, you know, wait a couple of months
until the annual sale comes around. I sometimes wonder if
coronavirus had something to do with that where everything I
certainly noticed it in reporting and car launches and car
events for new cars. You know, everyone kind of realized, oh,
we don't have to follow this calendar schedule.

Speaker 1 (50:51):
We used to follow with our debuts.

Speaker 2 (50:53):
And our launches, and we could only debut cars at
you know, in the Detroit Automotive Show. Now kind of
freed everyone up. We can launch a car whenever we want.
Did you see the same thing happen with car auctions?

Speaker 5 (51:07):
Well, I think that's fair. I mean you go back
to l A, Detroit, Geneva, Paris, all those shows are
they're like, there's no need or close to it. They're close.
It's it's you know, they're they're buggy whips.

Speaker 2 (51:22):
Oh.

Speaker 5 (51:22):
I think during Corona, you know, during COVID, during that
virus time, the sense of mortality changed for a lot
of people, which turned out to be true for a
few and and not true for the majority of the population,
where everybody went, what am I waiting for? I might
be locked in forever. I got to buy this. I

(51:43):
want to do this thing I've never done before. I
want to get it done. And there was a COVID
spike in the marketplace, and that has since come back down,
Like like any hockey stick spike in a market it
it reaches the top and then the elevator cable breaks
and it comes right back down to reality. Yeah, I
think that that lent itself to the quantity of things

(52:06):
that were being offered, and certainly the quantity of things
that were being bought at eyewatering surprising prices. And I
think since that time the car marketplaces have been unpredictable
since that time, because nobody could have predicted that the
market would have gone crazy with everybody being locked in,

(52:26):
and then it corrected downwards, and then it flattened out,
and then some other cars came down over the last
few years, while a handful of cars and I suppose
we could circle back to your original question about what
I'm looking at to watch for little trends in marketplace,
and there are cars that five years ago, if I
certainly had a crystal ball that was worth a dam,

(52:48):
I would have bought a dozen of these things and
invested some clients money in them, and then retired after
this year. Because they're name names.

Speaker 1 (52:57):
What are they?

Speaker 5 (52:58):
Well, I mean, you pick anything with the roof badge
on it, I want to talk to you about that,
and then you took anything list There was such a
disparaging phrase. My friend Andrew Hall used to call the
Ferrari supercars. I mean the two eighty eight gto the
F forty, the F fifty the ends of the left Ferrari,
he would just call them the you know wives of

(53:20):
the footballers cars, sure, because you know you just signed
well well, he meant that as this, He meant that
it as a very uncreative way to spend your money,
acting like everybody else. And as it turns out, you know,
I had two eighty eight GTOs in my inventory that

(53:41):
you couldn't give away for a long time ago, Carera
gts that were difficult to sell, nine eighteens that were
difficult to sell. And I think the pattern is as
some people are aging out, there's so much newer money
with a younger generation of people, they don't want the
cars that a great many folks wanted for twenty years.

(54:03):
There's always going to be a to answer your question,
what I'm going to watch is like the iconic classic
cars would be the first thing that I always watch,
And by that I mean it's again it's the predictable
things that people getting in as new buyers will want
to buy. And now topping that market is probably any

(54:23):
kind of Mura, Lamborghini Mura, you know, the P four hundred,
the SDSV. They've shot up greatly in value arguably one
of the greatest artworks of all time that happens to
be an automobile. I'll watch watch the Mirror, I'll watch
any three hundred sl I'll watch still.

Speaker 2 (54:42):
I feel like those have been just consistent blue years. Yeah,
those are just you're still watching those. Just as an indicator.

Speaker 5 (54:50):
Any two seventy five GTB Ferrari portious speedsters. I don't
think this is an aston Martin dB five, but they
are the easy to understand and iconic in a Cobra
two eighty nine Cobra. They're they're easy cars to understand,
they're easy cars to add to any collection and to
folks who don't want to think outside the box and

(55:12):
they want validation generally, and I'm not downplaying someone's creativity,
but you sort of see a big pattern here. You
see guys that you know have all of those cars,
and they never step out of those things because they're
they're equities. They're they're easy to they're easy to trade,
there's very little risk in any of them. And then
the footballer wives cars, I mean those have gone through

(55:33):
the roof. I mean they've just gone bonkers. And you
throw in modern supercars, you know, mostly any Bugatti, any
any Pagani, not Pegani, any Cone's Egg. Yeah, absolutely in
that group. And then you throw in the Portia Halo

(55:56):
cars starting with the nine point fifty nine either by
Bruce Kanapa or not a Carera GT and a nine
to eighteen, and you know those markets they fluctuate a
little bit, but with the new car buyers, you always
want to watch that. And the Roough thing is a phenomenal.

Speaker 2 (56:19):
Talk about that as we can, because I think we're
talking about the yellow Bird that's sure sale. The nineteen
eighty nine CTR nicknamed yellow Bird pricing estimate is six
million dollars. Why is it that expensive? This is not
the record breaking car.

Speaker 5 (56:36):
No, no, it's not the car that actually did the
record breaking. That's any of them become the record breakers
when one does it. So don't you don't need the
record the actual record breaker, and you probably don't want
the actual record breaker. But there are twenty nine of
these cars. This one is unrepeatable in terms of condition
and mileage and ownership. And again it boils down to

(56:58):
this car is without accept it's coming from a home
that if you're going to buy one of these, this
is where you should get it from. That's a car.
To me, I've never understood. I'm not I'm not a
fair person to ask because I've never understood it, and
it's been explained to me by the people that own them,
and they've made great arguments as to why they own them.

(57:21):
I've never understood a modifiers car. I've never understood the
singer thing. I've never understood the roof thing. I honestly don't.
It doesn't appeal to me. I like what the manufacturers
originally made and more of an originality geek that way.
But if you want a faster car that can can
do certain things a normal nine to eleven can't do,

(57:42):
this is this is for you, and this falls under
This really falls under I have it and you don't.

Speaker 2 (57:50):
You talked about that before. Yeah, that's very valuable. It's
a thing for a lot of people.

Speaker 5 (57:56):
It's it's it's a it's a It's the same with
watch collecting, it's the same with art. I'm not saying
that people buying these things don't appreciate them, that's the
last thing I'm saying, but they this becomes a wallet
fight at the top of the food chain. If somebody
wants this car and it could do six to seven
I wouldn't be surprised if you did eight million dollars.
I mean, this is part of the unpredictability because you

(58:18):
cannot repeat this car. So you get the out on
one side, some of the indie cars on the other,
you know, going through I mean even and I'm a
fan of nine to nine three rs' is the portion
nine three rs. RM has one that is the rarest color.

(58:39):
It's in Riviera blue. They made one in this particular spec.
This has got less than nine thousand miles on it.
I'll watch that car. I mean, there's a heady, very
heavy estimate on it. I think it's seven fifty to
nine fifty, where most of those cars sell for you know,
half that because they're more common colors. But this is unrepeatable,
got it. So that's that's another one of those you

(59:02):
keep an eye out for that. I mean, but there's
there's really I mean, looking at it David Gooding's catalog.
You've got the roof and then you have what's going
to be very interesting to me is the three seventy
five Ferrari, which is his halo car for the auction
and folks in that nineteen fifties. Ferrari world know this

(59:22):
car very well. It's a very famous car owned by
a gentleman in Michigan. Was owned by a gentleman in
Michigan by the name of Fred Lador, who had the
car forever. He also owned a GTL at one point.
I mean, he was no slouch collector, and he always people.
When Ferraris were having their big run up in you know,
twenty twelve through twenty fourteen fifteen, and having sold two

(59:49):
three seventy fives, I knew what they were worth. I
think the most expensive one I sold was sixteen million dollars.

Speaker 2 (59:57):
Wow.

Speaker 5 (59:57):
Fred always wanted twenty. When the market came down and
went into the teens, he wanted high teens.

Speaker 2 (01:00:05):
You know.

Speaker 5 (01:00:05):
And then when the car was worth sort of twelve,
he wanted fifteen. And he kept falling. Essentially, he either
never wanted to sell the car or he was just
downright greedy at the end of the day.

Speaker 1 (01:00:16):
You know.

Speaker 5 (01:00:16):
The big joke is, well, if you're really old and
you want too much money for something, we'll just wait
for your estate to sell it because that will be
it's it's very.

Speaker 2 (01:00:25):
Model, yes, but in the end, I mean this car
now is looks like the Simon is eight to ten.

Speaker 5 (01:00:33):
Well see now, now, daughters, I think their daughters, the
two daughters who have the car want to sell dad's asset.
And there's another There's there's some lesser car that he
also has in the auction. I think it's an old
Portia anyway. But now here's here's the rub with this car.
He could have sold it for all the money for

(01:00:54):
five years, and he always he wanted all the money
plus thirty percent. And now, well it's worth half of
what all the money was. And let's see if it sells.
I mean, I do believe it will sell because it's
a very desirable car, but that could be the poster

(01:01:15):
child for a difficult to sell era and example of
something right now, it's going to have to be aggressively priced,
which I think it is at eight million dollars, very
aggressively priced. And I think, you know, the folks at
Gooding are no fools. They weren't going to outprice themselves
only to have a halo car not sell. I think,

(01:01:35):
if you know, my advice to the family would be
put it out at no reserve, announce that at the
very last minute, because that's exciting.

Speaker 2 (01:01:44):
Yeah, that'd get people.

Speaker 5 (01:01:45):
Going, it's not my money, so let me die. Either
you're going to have a room full of very lugubrious,
crying people, or you're going to have you know, champagne
bottles going off, because I mean, why not. Your father's
passed away, you're selling the car in the estate. The
last thing you want to do is have this not sell.

Speaker 2 (01:02:08):
Can they make that call? Do you expect at the
last minute? I mean they can they just lean over
and tell Shelby or Rob, hey, let's let's put this
out of no reserve or David, yes, yes, sorry sorry,
oh gosh sorry, or David, this is a lot one
fifty four good Christie's, the nineteen fifty five Frarie seven.

Speaker 5 (01:02:28):
Well you could do that. I mean I think I
think it could be a last they could. They could
call it today and put an addendum out when people
pick up their paddles and pick up their bidding information.
I mean, this is me. This is me if I
was the head of Christie's and I had a moment
with the family saying yes, listen, this is a lot
of money. This is a significant chunk of change, and

(01:02:51):
they're going to be I don't again, I'll try not
to speak sort of about things I know a little
bit of and not a lot of. There are going
to be taxes on this is going to capital gains hacks,
as they're going to be, they're going to have to
give some of this back to the feds. Well, knowing
all of that, why don't you try to blow everybody
out over the next ten days and announce that this
car is suddenly coming out at no reserve because people

(01:03:15):
had chased it when the market was hotter and people
wanted more of this era car. Why not get those folks,
Why not grab their attention again and go, we're going
to sell this. I wouldn't do it with a great
many other things. But if you have no desire to
keep this, it was your father's pride and joy he

(01:03:36):
sadly has passed, and you can repurpose the money. Would
I would rather have six million dollars instead of eight
if it meant not having anything me too.

Speaker 2 (01:03:48):
Six million is more than nothing.

Speaker 5 (01:03:49):
Right, and it's far more than what he paid for it,
which again, if you're working off of the cost basis,
and I don't know what he paid for it, but
it was nowhere near this, I mean, and that car
is so significant because it has every bit of documentation
with it. There is correspondence between Enzo Ferrari and the
original buyer. I mean, there is this, This is a

(01:04:10):
this is a a sort of an information geeks just
dream come true.

Speaker 2 (01:04:16):
I mean gorgeous.

Speaker 5 (01:04:18):
Oh it's it's absolutely a stunning h and a beast
to drive and a three seventy five road car. I
mean unheard of kind of a one off thing. Why
why not completely make just the way? You know again,
if if God came down and said you can go
do this today right before Miami, I would I would

(01:04:39):
make the announcement because now you're going to put a
ripple through everything going. You know, It's no coincidence we
launched the group p at the time that we did
because everybody's bringing their money to Miami and Amelia Island
and it was like, well, let's try to grab some
of them before he spends all their day.

Speaker 2 (01:04:53):
Right. Well, I do want to ask you about Ferraris
and Porscha's specifically, because I counted up and there in
the two auctions this month in Florida, there are twelve
Porsches being offered at more than a million dollars, and
there are also twelve Ferraris being offered at for more
than a million dollars. Now, the Ferraris, I'm not surprised

(01:05:14):
about the Porsches. I'm actually surprised that there are twelve
and each auction house has at least one Porsche that's
supposed to take over a million dollars in my recollection.
And tell me if I'm wrong. Porsches were never valued.

Speaker 4 (01:05:30):
Like this, on par with Ferraris.

Speaker 2 (01:05:32):
What do you make of that?

Speaker 5 (01:05:34):
Well, I think the Porsches that are worth the most
money used to be the aluminum and plastic cars from
the fifties and sixties, which have now become the sort
of difficult thing to sell at this moment. And again
having specialized in that for a handful of years. Yeah,
there are the outlier Ferraris, the GTOs of Testerosa's, the lms,

(01:05:57):
the big cars that were tens of millions of And
you never had Porsches except the nine seventeen that it
was really worth that kind of money. They were always valuable,
they just weren't They weren't as desirable as the Ferraris were.
Over time and over a million this is really it's
sounding completely glib. Over a million dollars, it doesn't buy

(01:06:20):
you much in the car world anymore. And so, yeah,
career gts are over a million dollars. They made a
lot of them. The nine eighteams over a million dollars,
they made a lot of them. Nine to fifty nine's
they made a lot of them. The roofs they made.
You know, there's hundreds of roofs. Not all of them
are over a million bucks, and most of them aren't.
But you can't buy a Yellow Bird for you know,
anywhere near those. So I think the Ferraris are still

(01:06:43):
there are a greater number of Ferraris that are more valuable,
but Porsches right behind them. I think what's driving that
there are far more people that still want to have
a Porsche collection than a Ferrari collection for whatever reason,
mostly because the Ferrari are real. Proper Ferrari collection was
unattainable for most people. But there are you know, three

(01:07:05):
fifty six Carrera cars that have always been over a
million bucks there. You know, there's there's a lot of
cars that Portia has made that have gone into that spectrum.
What's interesting to me is the cars that are the
oddball cars to watch and the one that comes to
mind and you're gonna I think crush r. I think
of what how did you get how did you get

(01:07:27):
upon this?

Speaker 2 (01:07:29):
Uh?

Speaker 5 (01:07:30):
David Gooding has a Fraser Nash. Okay, all right, so
it's I think the estimate is seven to nine hundred
thousand dollars. I believe there's one other Fraser Nash in
the United States. They are they're obscure. I mean, I
love obscure cars.

Speaker 2 (01:07:48):
This is an extremely obscure this is Is this a replica?

Speaker 5 (01:07:52):
No, no, no, it's it's it's because that what did
you pick up in the name that makes you think
it's replica? Yeah, right, it's so, it's that's always that's
always been the Laman rep No, it does not stand.
It's not a replica. It's a proper Fraser Nash. But
what I'm getting at is, say you you have a

(01:08:13):
significant car collection of historically important cars. This was the
first car to win the Twelve Hours of Seaburn. It
went missing for decades, was restored by the Fraser Nash
expert in the UK, and they're wildly popular as vintage
race cars. If you go to Goodwood and you go

(01:08:35):
to the revival, you see them. They're just unknown in
the United States. So I think someone's taken a shot here,
and that occasionally happens, and you bring something into a
marketplace that only the true you know, geeks know about
these things, and because most people looking at it and go, well,

(01:08:55):
I don't like the way it looks. I don't like
it's chain driven, I don't like that, I don't like
I don't like any of this technology. Usual yes, and
then you suddenly dig into it and go, well, wait
a minute, if I had this, it's an entry into
so many historic events, and it's in and of itself
a very important piece of Florida Sebring history. So why

(01:09:16):
not sell the car? Makes sense at a Florida auction.
So whoever brought that to auction, I don't know who
owns the car. Whoever brought that to auction is smart.
You know, maybe it'll take a shot, and maybe it'll
fail miserably, and maybe it'll sell for over high estimate.
I don't know. But things like that in the catalog,
when you really go into them and you start to
cherry pick them, that the AMG cars the only manual

(01:09:40):
AMG cars of two different models, and I don't have
the models in front of me that David has weird.
I mean, if you you know again modern collectible, you
have it and nobody else does.

Speaker 2 (01:09:54):
I see one an AMG three hundred, the six point
zero ham yep, the hammer, Yeah, so Dan five speed
manual gearbox, pre Summit up to one point seven million.

Speaker 5 (01:10:07):
Yeah, and pre Mercedes Benz AMG Merger. Dave. It's if
you've got a Mercedes collection, you want something very different,
or if you if you collect cars that have been
if you collect Alpina BMW's and AMG Mercedes Benzes and
you know different tuner cars, Well here you have this

(01:10:30):
and nobody else does.

Speaker 4 (01:10:32):
Right here.

Speaker 2 (01:10:32):
Yeah, there's another one, Steve, tell me what you're looking
for beyond Florida.

Speaker 1 (01:10:39):
And this has been so great.

Speaker 2 (01:10:40):
I know we're gonna have to wrap it up because
I've got producers telling me that we're coming to the
end of our time already. But I know, looking forward
beyond Florida, what are you watching? Just as you sort
of nose around the market in your own.

Speaker 5 (01:10:55):
Life, well business wise, you know, you just want to
make sure people are still getting up in being interested
in cars and a new generation of people are coming
into this and it's not dying out, and that I
think years ago, ten years ago, you might people, you know,
sort of the negative mantra was, who I hope this
younger kids really love these cars, And well, I think
kids are always going to love cars. And I think

(01:11:16):
for a while they were distracted by video games and
things that they held in their hands and you know,
my iPad and my phone and it's more fun than
doing and then that all wears off and you want,
you know, you really want that tactile and oral thrill
that you know, either a horse or a car gives you,
or a sailbout or something where you're experience some freedom

(01:11:38):
and some wind in your hair, and you know you're
having an experience that's etching in your brain that when
you think about it as nothing but joy. So I
want to see people just constantly being involved. And you know,
I also thought years ago when people were spending their
money on all these supercars, it's like, what are they
going to do with them? Well, apparently there are now

(01:12:02):
over and a friend gave me this information this morning.
We were talking about different events. There are probably as
many or more events that are catering and tailoring themselves
towards these supercar owners and whether they're in Europe or
the United States. And I'm not saying, you know, you're
going to go on a public road and wring the

(01:12:23):
thing out at one hundred and eighty miles an hour,
but that just wasn't the case years ago. So that's
all very positive for the you know, it's all very positive.
And you know, just because I prefer older things not
catering to me, but boy, they're catering to the people
who are spending the real money in this is that's
not many.

Speaker 2 (01:12:41):
I mean, it reminds me of John to Marian in
Miami exactly. We are curated.

Speaker 5 (01:12:45):
Yeah, I mean, here's ahead of the curve all.

Speaker 2 (01:12:46):
The time, completely.

Speaker 5 (01:12:47):
Yeah. And there are there are a handful of people that,
you know, we're not going to sell Duzenbergs and Packards
and Bugattis and Alphas and all these pre war cars
that all these geezers love. It's like, we want to
get into the stuff that the tech bros and the
finance guys and all the guys making real big money,
what they're interested in and what their poster cars were
from when they were kids. Fine. You know, I may

(01:13:10):
age out and play what do you drive?

Speaker 2 (01:13:12):
What are you driving? Personally? Steve, I know you've got
that three five six here in La Yeah.

Speaker 5 (01:13:19):
That's still my that's you know, that's still my rally
car of choice and fun car in Los Angeles. I think,
you know, I mean, I split my time everyday car.
This is not a Mercedes spenz commercial. But you know,
my g Wagon has got sixty thousand miles on it,
and I think for Boston it's the perfect car. Still

(01:13:40):
the big W twelve Bentley, which is again.

Speaker 2 (01:13:44):
Kind of a line that for a while.

Speaker 5 (01:13:45):
It's coming up on my fifth year. And I do love,
you know, and I love getting mocked for driving the
poor man's Ferrari, which is the roma I you know,
I didn't. I just wanted to go through the process
of cradle to grave of ordering something that nobody else had,
and I love the look and it's plenty fast for me.

(01:14:09):
And I was I think I gave you the note
of the Bentley Flying Spur that went in for service
and is still on a lift one and twenty days later.

Speaker 1 (01:14:19):
I was very sad to hear about.

Speaker 5 (01:14:20):
That somebody had to rebuild the brake suspension and steering
might as well be me. I'm looking forward to driving that,
So yeah, no, I have, Hannah. I promised myself this
year that I would whittle down and get rid of
six cars and.

Speaker 3 (01:14:38):
Get going for you.

Speaker 5 (01:14:39):
Not so well. I don't think there's nothing on the
radar that I want to buy, but there are. I
you know, I was saying to Amanda, my wife the
other night walking around, you said, you're really going to
sell those cars, and I went, well, it just depends
on the day, you know. Catch me in the right
mood and look at something that I haven't driven in
six months and go, yes, I don't need this, so

(01:15:03):
he'll use as much space as you have. And I'm
not pitched for garage space, so it's that's a problem.
But yeah, I I you know, I can't help but
enjoy these things. And then you walk in the garage
and you smile. So but I hope, you know, I hope.
I hope everybody's still into cars at the end of
the year. I think they will be. I don't think

(01:15:24):
fossil fuel is going anywhere, and I think the pushback
on electric is hard. It's getting pushed back very hard.
I think internal combustion engine is here to stay, certainly
during my lifetime, and you can try to legislate it
out of inner cities and California and wherever else you
want to try to legislate it. Let me know how

(01:15:45):
that works out for you.

Speaker 2 (01:15:47):
Well, Steve Sierra with that, that's a wonderful uh into
the conversation. Thank you so much for joining. It's always
such a pleasure.

Speaker 5 (01:15:55):
Well, I'm not, in fact, Matt Miller. I'm Steve Siio
and I'm not six foot three.

Speaker 2 (01:16:01):
You're the stand in now you're an official friend of
the pod.

Speaker 5 (01:16:05):
I'm glad you're that. I'm honored to be here. Thank
you very much for asking me. I hope this is
entertaining to the folks who listened.

Speaker 1 (01:16:10):
So that was so fun.

Speaker 2 (01:16:12):
I always learn a ton when I talked to Steve,
and I've already seen him a couple of times down
here in Miami. I mean, gosh, last night RM sold
those last nine of the indie cars that the Indie
Museum is selling to basically fund their the rest of
their life. And they made almost thirty five million dollars

(01:16:36):
last night on nine cars.

Speaker 1 (01:16:38):
Well nine lots.

Speaker 2 (01:16:40):
One of them was an airplane but other than that,
pretty incredible numbers.

Speaker 3 (01:16:45):
So that's awesome. So how are you down there for
the rest of the weekend.

Speaker 1 (01:16:51):
I'm down here until Sunday.

Speaker 2 (01:16:52):
So the big main auction that arm so Thebes is
throwing is this is, uh, this afternoon, Today's Friday.

Speaker 4 (01:17:00):
I have to remind myself.

Speaker 2 (01:17:01):
This afternoon and then Saturday and Sunday will be various
car events, and then next weekend is Amelia Island, the
Amelia Concord with the Gooding Christie's and Broad Arrow auctions too.
So it's it's I'm going to go back to La
on Sunday, but it is really these next two weeks

(01:17:21):
in Florida are the place to be if you're at
all interested in classic cars and even modern star very cool.

Speaker 3 (01:17:28):
You know, on your way out you could drive up
to Daytona and watch the opening King of the Baggers
race at Moto America.

Speaker 2 (01:17:39):
I would I would do that, actually, I I honestly,
I might even like that more than like a Motor
GP race, to be honest.

Speaker 3 (01:17:49):
I'm except this weekend is also the start of Moto GP.
So I'm that's like my number one I know.

Speaker 2 (01:17:57):
That's well, that's why I said there's something of about
a bagger race that strikes me as really hilarious.

Speaker 3 (01:18:05):
It's fun I mean the bike I've never been to one,
and the rider. I mean we're talking about well over
seven hundred pounds here. You know, a Moto GP bike
weighs like two hundred, and the riders are like, you know,
ninety pounds, soaking wet. So yeah, it's just insane that
they can do this. But what's funny is at a

(01:18:27):
Moto GP race sometimes they'll show up with the baggers
and then they'll let the you know, the Moto GP
riders get on one, and they love them.

Speaker 4 (01:18:39):
I bet. Yeah.

Speaker 2 (01:18:41):
You know, it kind of reminds me when they do
like semi racing, like semi truck racing.

Speaker 1 (01:18:46):
Yeah, for some reason, it's.

Speaker 3 (01:18:49):
It's kind of like that, although it's I think it's
way cooler, just the fact that they slide these things
around so much. They don't have like quick shifters or
at least not blit throttle blippers anyway. Yeah. So, by
the way, I should point out I got home from
Austin and there was a yellow Corvette in my driveway.

Speaker 4 (01:19:13):
What.

Speaker 3 (01:19:14):
Yeah, so I've been begging Chevy to give me, just
a base modeled Corvette, just no frills, no options, just
a stripper, you know, to see what it's like, because
they only give me usually like the special versions.

Speaker 1 (01:19:33):
Yeah, you need a baseline.

Speaker 3 (01:19:35):
Exactly, and to compare to other vehicles because it starts
at sixty eight thousand. I don't even think you can
get like a Boxer for that much, you know, Yes, yes,
and so I've been. I mean, I'll get back to
you next week.

Speaker 1 (01:19:51):
But I love that. How good is the yellow? Is
the yellow a good yellow?

Speaker 3 (01:19:55):
I hope it's. I'm not a fan of yellow, but
it it's pretty similar to the Lamborghini Hurricane that I
had recently, that I had last year, the Stiato. So
I don't person. I don't know. I wouldn't get yellow
if it were me in almost any car. I can't
think of a car that I like in yellow. Is
there one you like?

Speaker 1 (01:20:16):
The color of madness?

Speaker 3 (01:20:17):
I just don't see it as a viable option. But
there are motorcycles I would choose in yellow, like a
Ducatti sport Classic, the first one that came out as yellow.

Speaker 1 (01:20:28):
And well that seems more like part of the heritage
for sure.

Speaker 3 (01:20:32):
Yeah, you wouldn't take a yellow car, would you, I know,
you like white?

Speaker 2 (01:20:37):
If it was a C three in a butter yellow,
maybe like a buttery yellow.

Speaker 3 (01:20:42):
I might fare a C three and hopefully it's faded
a little with patina.

Speaker 2 (01:20:47):
Yeah, yeah, like really powder powdered, like a powdered yellow
with some patina. Maybe maybe, I don't know. I wouldn't
say no, but it wouldn't be my first choice.

Speaker 3 (01:20:58):
Put it that way, What is usually your first like?
What do you gravitate towards color wise?

Speaker 4 (01:21:03):
A great question.

Speaker 2 (01:21:04):
It really really depends on the car, to be honest.
With Porsche's, I like the white ones, And I know
that's probably weird, but I really like the white ones. Yeah,
with something like a Rolls Royce. I do like like
a traditional green. I love a Champagne. I'm still looking

(01:21:24):
for a white Corniche.

Speaker 1 (01:21:27):
Because I don't know.

Speaker 4 (01:21:29):
I just think it'd be cool.

Speaker 2 (01:21:31):
It really depends on the car. I guess I'm not necessary.
I don't typically go for red, ever, I love blue
for Ferrari.

Speaker 3 (01:21:39):
To be honest, yeah, me too.

Speaker 1 (01:21:42):
Yeah, it's somehow because red.

Speaker 2 (01:21:44):
Yeah, McLaren cannot be orange like that. There are some
colors that are way over associated with a brand, and
I would never I mean, do you.

Speaker 3 (01:21:54):
Feel the same way, yes, totally. H Well, I mean
so with Porsche GT. Silver obviously is a color that's
very associated with Brandon, I would be happy to have one.
I love that color, and same with.

Speaker 2 (01:22:08):
Silver, like a silver bullet Aston Martin, I would get
the silver.

Speaker 5 (01:22:12):
Yeah.

Speaker 3 (01:22:12):
I think silver's a good choice for almost any car,
especially like a Mercury, you know silver. But I wouldn't
want a McLaren an orange either, or in any weird color.
But I don't really think i'd want a McLaren In
a Lamborghini, I would want like an aggressive orange or
like a.

Speaker 1 (01:22:32):
I'd like a lime green.

Speaker 3 (01:22:33):
Poisoned green.

Speaker 1 (01:22:35):
Yeah, yeah, yeah, yeah, that's cool. That's very cool.

Speaker 3 (01:22:37):
Lamborghini could be the color of a tree frog. I
like that.

Speaker 1 (01:22:40):
Yes, that'd be very cool, very I totally agree with that.

Speaker 3 (01:22:44):
But I typically gravitate towards greens and blues in almost.

Speaker 2 (01:22:50):
Yeah an, I was just going to say, I think,
as a rule, in general, you can't really go wrong
with a green or a blue on most cars.

Speaker 3 (01:23:00):
I also count out gray and black usually, Like if
I'm searching for a car an auto trader, I'll go
click every single color, but white, black and gray.

Speaker 4 (01:23:12):
Yeah, I understand that. I mean.

Speaker 2 (01:23:16):
Gray for sure. Are you into the chalk? Are you
into the like very you? Do you count that as gray?

Speaker 5 (01:23:24):
No?

Speaker 3 (01:23:24):
And I mean there are exceptions, right, Like for me,
portia is kind of an exception. There's and I got gray.
I like the chalks that they had for the fiftieth anniversary.
A yeah. And I also a porsia like. I would
take a porsiae in almost any color, you know, because

(01:23:47):
I think nine to eleven's look good no matter what,
as long as it's not one of the free colors,
so guard red, black or white and yellow those are
usually the free ones, right, and then all the other
ones are good.

Speaker 1 (01:24:00):
You know what that reminds me.

Speaker 2 (01:24:02):
I'm not going to name a name, but last night
in Miami someone was talking. Someone that I know got
an st and only had to wait six months for it,
which is pretty good. But the compromise was he had
to get it in white. Would you take that compromise?

Speaker 3 (01:24:22):
Not a problem at all?

Speaker 4 (01:24:23):
All?

Speaker 1 (01:24:24):
Right, Well, there you were, there's our base.

Speaker 3 (01:24:25):
I would take it in primer unpainted not.

Speaker 1 (01:24:28):
Yeah, I don't even bother on it.

Speaker 5 (01:24:30):
Problem.

Speaker 3 (01:24:30):
By the way, I think a nine to eleven looks
great and white, especially if you have like red leather,
you know.

Speaker 2 (01:24:35):
Me, oh oh so cool, me too, timeless, like cool,
a little bit of an attitude.

Speaker 1 (01:24:41):
I totally agree.

Speaker 3 (01:24:43):
Also, it's not the base white. I don't think you
could probably get an st with just the base white.
It's probably some special mineral, you know, alpine white.

Speaker 4 (01:24:53):
Right.

Speaker 2 (01:24:54):
Well, I was going to say, there are different types
of white, and I definitely am very against any sort
of pearl lesson scent white. There should be no paralyzed
anything in. It shouldn't be like a milky. It needs
to be like cocaine white. And no, Matt, please, no, no, no, no, no, no,

(01:25:14):
We're not crazy, Come.

Speaker 3 (01:25:15):
On, cocaine white. They should call a color. Well, Lamborghini
should do that, you know. Yeah, yeah, brand Bolivian marching powder.

Speaker 4 (01:25:28):
There you go.

Speaker 1 (01:25:29):
Yeah, that makes total sense, especially for Miami, you know.

Speaker 3 (01:25:34):
Yeah, one hundred percent for Miami.

Speaker 2 (01:25:37):
I will say, speaking of black though, that Lamborghini Robuolto
I had that I infamously got a ticket in was
all black black black black, and that was a very
strong look.

Speaker 1 (01:25:50):
It was very cool.

Speaker 3 (01:25:51):
Yeah, triple black is a is a good choice usually, Yeah,
all right, well, cool, that's all we have for this week.
Next week I have my special embargoed news on Harley Davidson,
which I think is going to be pretty exciting. I'm
actually I'm hoping that pursuits even Princess story because I'm

(01:26:11):
gonna write a story for Chris exciting, and then I'll
come back to you with my experience in the Corvette.
I haven't had a chance to ring it out yet,
but I imagine for sixty eight grand and a Boxer
starts at like seventy five, I can't I don't get
why you would choose the Boxter, but.

Speaker 2 (01:26:31):
Well, I'm going to wait to hear what you think
of the Vet. I mean, that's a whole lot of
car potentially.

Speaker 3 (01:26:39):
Sure, it's you know, I don't know how what the
numbers are, but four hundred and fifty horse power right,
six point two liters of V eight it's behind you.

Speaker 2 (01:26:48):
Yeah, So I'm cool, Yeah, cool, cool, cool.

Speaker 1 (01:26:54):
Well, glad you're back.

Speaker 3 (01:26:56):
I'm glad to see you, and look forwards next week.
I'm Matt Miller and I'm

Speaker 1 (01:27:02):
Hannah Elliott, and this is Bloomberg