Exotic and vintage cars have long been part of the lifestyle for many people of wealth. PFS CEO, Mitch Katz, provides Wealth Managers with what they need to know to help their HNW clients finance these alternative assets most effectively.
Last month, Monterey was the place to see Bugattis, Paganis, McLaren P1s, Porsche 918s, Ferrari’s top supercars and maybe a Lamborghini Cantenario or two – and that was just in the parking lots. This Sunday, Sept. 30, the place to see those cars, and to show your own, is at shopping mall in Paramus, New Jersey.
As if to soften the psychological blow of adding an SUV to the Prancing Horse stable, Ferrari revealed a surprise: the Monza. The Monza is first in a new series called “Icona,” for icon. These models are far more distinct from the vehicle on which they’re based than past Ferrari special editions have been.
At “The Quail: A Motorsports Gathering” in Monterey, Calif. in August, Bugatti unveiled its ultimate model (so far), the Divo, which costs $6m. It is named for Albert Divo, who won the Targa Florio twice in the late 1920s driving a Bugatti Type 35.
Aston Martin is about to make dreams come true by building continuation DB5s equipped like the lethal, gadget-laden version used in the 1964 James Bond film, “Goldfinger.”
One of the most respected publications for serious Ferrari enthusiasts -Ferrari Market Letter- featured PFS CEO Mitch Katz’s observations on the 2018 Monterey Car Week.
Lamborghini used the opportunity of “The Quail, A Motorsports Gathering” in Monterey, Calif. in August to unveil its latest track-ready supercar, the Aventador SVJ. The Aventador SVJ lapped the famed “Green Hell” in Germany in 6:44.97, setting the record for a production car.
At the RM Sotheby’s Monterey sale in August, a 1953 J2-X, one of the 83 made and known as “Little Red,” sold for $280k. (The pre-sale estimate was $275k-$375k).
The news from Monterey is one of records shattered. At RM Sotheby’s, a 1962 Ferrari 250 GTO set the world record for highest price ever paid for a car at auction: $48.4m. It all added up to over $367m for the week, a jump over last year’s $330m.
