00:00There's this whole Radwood era car craze that I think is so interesting and Danny points out
00:06this is probably because millennials just now have money, right? Is that cohort of people rich
00:13enough to buy these cars? Good morning, thanks for having me and you're absolutely right. I think
00:20we're seeing, you know, much is talked about of great wealth transfer from the baby boomers to
00:25the younger generation in addition to the younger generation who are very successful in their
00:30careers and we are seeing real shift in interest levels and demographics with respect to cars and
00:39that happens to be focused much more on modern supercars and hypercars today. So what are the
00:45hottest? I mean, I remember when people were saying, oh, the Ferrari FF is the cheap, you know,
00:51a growth car to buy, but now it's already gotten to 200 grand. And what are the cars you can
00:56pick
00:57up, Kenneth, you think for, you know, 80, 90, 100 that are going to be future classics?
01:04Yeah, it's all across the board with respect to price points, but you're right. A lot of 80s
01:08and 90s cars that are also rare and desirable and hard to get. So, for example, I'll pick an
01:16example. Porsche Carrera GT to kind of consider the penultimate supercar of the analog generation
01:22from the mid 2000s. That market we're seeing exploding over the last several months. And we've
01:29we've got one coming up in an auction without reserve. So it'll be interesting to see where
01:34that market is. But also, you know, the Fast and Furious movie era, the Japanese JDM's they're called.
01:41So Nissan Nismo to AMGs from the 90s. It's a very, very hot market. We're seeing almost a parabolic
01:50increase in price points for those cars over the last couple of years, and particularly in the last
01:54several months. All right. So we're looking at some of these, you know, and by the way, the Carrera GT
01:59is already a million dollar car. The 918, I think one sold for over $6 million last month. The 288
02:07GTO
02:08is already too old, right? People want the Enzo now. What about the Bugattis? Not the Chiron, but
02:16you know, the ones that used to be multi-million dollar cars. Are those losing value? The ones that,
02:22you know, Jay Leno prizes? Yeah, it's a very good question. It's actually interesting. It's all
02:28relative. So truly unique, collectible pre-war cars or older cars are still doing very well. It's just that
02:37on a relative basis, the modern cars, the price appreciation has, you know, accelerated far
02:44faster. But, you know, if you have a beautiful pre-war, you know, Type 34 Bugatti, those will
02:51continue to do very well in this market because they are truly part of automotive history that are
02:56very rare and hard to get. I think what we're seeing now is that the high quality cars with great
03:03provenance and history continue to do well, but the buyers are more selective as it relates to
03:11that genre of cars because you need specific knowledge, history, history files, etc. Whereas
03:18modern cars a lot easier.
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