How many MILLION DOLLAR cars are there on Earth?

[Music] the idea of a million dooll automobile is something that is fascinated inspired and enamored car enthusiasts especially aspirational ones for a very long time I know for me growing up as I fell in love with the idea of the automobile the idea of seeing a million-dollar car or touching one or sitting in one or driving one was one of those goals that you always sort of cling to and hope for and you know having been in contact with many of them you know you always see the auctions and the news and the things like that it's a really really inspiring part of the Hobby and you know we just saw the massive news story about RM soube selling a Ferrari 330 lm/ 250gto just a couple of weeks ago for nearly $52 million with the fees and in the wake of the publicity of that sale I actually got a phone call from Steve leato the Lemon Law attorney that we've had on here several times and he said Ed did did you see the story about the GTO I said of course I did I think it's super duper cool and I honestly thought it might have brought a little bit more money but there were some caveats with that car and things like that he said well I grew up right next door to that car my neighbor was actually the person that found the car learned of all the significance in the provenance restored it and everything else and he said in fact that guy had sold it around 1980 for $1 million now somebody who missed out on the next 50 million dollar of appreciation might have been pretty upset but that prompted me to go and say well what else could you have done with a million dollars since 1980 and since that time the stock market has actually returned 12,000 per so that $1 million if you invested it in 1980 would be worth $120 million today with the average stock market return since then now of course this is the poster child of Automotive appreciation and it didn't live up to the height but if you had invested just a few years later in the mid 80s it would have been more like 80 million still it is ultra rare for a car to beat the stock market for any sign ific period of time now I was also talking recently with Matthew ivanho the cultivated collector who helped me find the Yakuza Lamborghini Diablo SV that we're in the process of sort of bringing back to life with glossett and he said that the first recorded million dooll car transaction that he's heard about was in the late 1970s and it was in fact the founder of Domino's Pizza buying a Bugatti Royale so his speculation was that a million dooll GTO would actually have to been maybe even later into the80s so who knows but regardless cars are not necessarily an investment to beat the stock market but as they do appreciate an increase in value it's one of those things that can offset the ownership cost offset the interest cost of the money and to let it be a whole lot more fun and a whole lot more sustainable to enjoy the cars that we love now five years ago in 2018 I teamed up with Dan duet the researcher that we've used for a lot of amazing projects here on vinwiki along with John tamaran of curated and Doug Tabit from switch cars to try to put together a spreadsheet of exactly or approximately how many million doll cars there were on Earth at that point and we were able to add it up to about 20,300 cars which was crazy especially since we also tried to look back 15 years to 2003 essentially right before the Ferrari Enzo came out cuz that was more than 500 cars as we have now learned worth more than a million dollars immediately even though the MSRP was only $660,000 and so essentially if you look at 03 there were just over 1,400 100 million cars on earth so it changed from 1,400 to 20,000 in the span of 15 years and so the question we set out to solve in this video today is since then in the Last 5 Years how many more are there but as you might imagine it's not terribly easy to find out information about million dooll cars and especially about their owners because they are very private people which 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they're going to give you a two-e free trial to show you exactly what they find what is out there and exactly how they can help you to take it down and protect yourself on the internet I know for me I'm always trying to see what's out there as ask for it to be taken down use Google Alerts and things like that but Aura wraps it all into one seamless service so please check them out it's so important for you to manage what's out there to avoid identity theft unwanted calls unwanted emails and to be as safe as you possibly can online again go to aa.com vinwiki for a free two-e trial and make sure that you are as safe as you can be as you're out there and your information is out there on the internet but again this is about finding out how many million dooll cars there are on Earth today when we look back to 2003 most of the million dooll cars were Mercedes 540k ssk Ferrari 250s and McLaren f1s that made up most of these 1,400 or so million dollar cars then of course we have hypercars being built lots of new cars and a ton of cars appreciating over the next 15 years to get to about 20,000 number that we found back in 2018 and so the question is what are the new cars now certainly in the last 5 years we have seen the completion of production for a lot of million dooll cars the Bugatti Chiron the new 4 GTS that weren't necessarily starting at a million dollars but quickly became near as makes no difference a million dollars and we're nearing the end of the production of the Pagani wira now Pagani and kig zeg and a lot of other car manufacturers are introducing new cars and so those cars were also adding to the list but for me the most interesting thing to look at and notice as we see which cars are being added to the list is the cars that were already built in 2018 and weren't a million dollars but they are now because again I've talked about for me the only way that I can afford the cars that I have is if they don't lose value and so trying to understand what criteria what factors what ideas make a car continue to appreciate is what makes this useful for me in making my own car buying decisions I'm allergic to depreciation as I've told you many times but for me looking at the cars that were now on the list that weren't is the most fun of any of this and certainly now we see the porur GTS a lot of really really interesting Ultra high-end even modern 911 some of these paint to sample rs40 and things like that now those are a little harder for me to personally understand but of course we also see a lot of new Lamborghinis that are on the list that were already built in 2018 but just weren't remotely of that value back then we were pretty much just looking at a handful of one-off Cars Plus the Mira SVS now we've got all the miras plus the top tier Kosh Diablo and merciel go and so Lamborghini represents a lot of these new cars that weren't worth a million then but are worth a million dollar now so today the total that we found and again we don't have every chassis itemized we're estimating give or take but it was 29,7 122 Vehicles nearly 30,000 cars and a 50% increase from the number that we tabulated back in 2018 just 5 years ago so that means that every day over the Last 5 Years a little more than five cars have gone from not being worth a million dollars and now being worth more than a million dollar that's a pretty crazy thing to imagine and it's something we probably shouldn't expect to stop anytime soon inflation where it is the availability of loans and debt from Banks like Premier Financial Services to make it easier than ever to buy these cars own these cars drive these cars and honestly the number of these cars that most owners own now it'd be very impossible for us to accurately estimate the average number of million dooll cars that a million dooll car owner owns now that's quite a tongue twister but essentially saying that if you own $1 million car you got to imagine you probably own 10 or these are collections that might have a hundred we've done a lot of appraisals for these big collections from celebrities and influencers where there are just tons and tons of cars that you would not necessarily imagine just seeing the Optics of most of these collections now this also represents $30,000 million cars is 30 billion dollar but clearly the average value of a million dollar car is not a million dollars it's probably more like three or $4 million so Nas makes no difference a $100 billion being tied up in the asset class of million cars now recently Doug deiro made a really really cool video that I personally enjoyed where he compared the market cap meaning the total production times the average value of various models across the collectible car spectrum and I thought that was a really really fascinating concept now I do think there are some flaws with the logic there is clearly a difference in Market preference between an F 40 or a 300 SL versus a veon or something like that that just we can't necessarily say there should be equal funds available for each of these cars but in thinking through that logic I am personally fascinated by the relative market cap of each investable or collectible brand so for instance if you look at our spreadsheet almost all of the cars are Ferraris Lamborghinis Porsches McLaren's or Mercedes so those five Brands really do represent most of the big big money collectible cars the other ones are in such small quantities that we don't necessarily think they matter in terms of being reflective of what the car collecting public is really willing to invest their fortune in in many of these cases and so I'd like to do a video where I'm able to kind of spend some time totaling up how much I think is invested in each of those Brands not in the modern stuff we'd you know stop at whatever the most recently collectible hypercar is I suppose but that may be the next research project for me and Dan to undertake but when we think about the idea of a million-dollar car what are the takeaways here primarily it is that Rarity prevails all of these cars were produced in quantities of less than 2500 most of them less than 200 some of them less than 20 so clearly the more rare car is the more likely it is to eventually become worth a million dollar there's also a significance to each of these cars not just within the brands that they represent but within their contemporaries within the cars that were built around the same time it was a technology performance an aesthetic a significance whatever it is that made the car so special that's what made people who couldn't afford them but were dreaming about them one day save enough or flip their way up through them in my case to be able to afford one of these cars look cars are not a great investment relative to the stock market but as we said offsetting the maintenance cost the interest cost and all the other expenses that are involved and running a car by having the car go up in value is a wonderful way to mitigate your cost of hobby that we all love so very much but the real takeaway of course is that for all of the million-dollar cars there are out there to dream after there's more and more every single day once again I'd like to thank today's video sponsor ARA ARA is the perfect way for you to protect your privacy and your data online data Brokers are transacting in your phone number your address your email address all of the time and you can stop that with aura they help you stop Robo calls spam emails and all the other things that I identity thieves are out there trying to buy about you they can submit opt out notices or takeown requests on your behalf so check them out now at the link in the description below they're giving all of our subscribers two weeks free at aa.com [Music] thenen

Channel: VINwiki

Views: 66,462

Keywords: vinwiki, car stories, automotive, car enthusiast, storytelling, car trek, ed bolian, vehicle history, carfax, car guy, automotive adventure, exotic cars, supercars, car story

Id: c5VZrSIfMXk

Length: 12min 26sec (746 seconds)

Published: Fri Nov 24 2023