Interesting business here - if you have the minimum $500k to sit at the table - you can enter join a collector car fund...albeit a very exclusive one.
The intitial backer's include Nick Mason and Gordon Murray - and the the advisory board includes Paul Lanzante.
Ray Bellm is one of the co-founders (ex boss of Grand Prix Racewear/winner of BPR GT Championship in a Gulf Mclaren F1 GTR) - and mentions in the Sunday Times that he sold his F1 GTR racecar for just under £1m in 1998 (after converting it to a roadcar) - and today Mclaren F1's are going for up to £3.5m. If he is referring to his championship winning car that was converted to a roadcar by Paul Lanzante - that must be conservative - that car is worth all the money as one of the most coveted Mclaren F1's.
Anyway Paul Lanzante is one of the buyer's/advisors to the fund - he is the guy whose company ran the Mclaren F1 for the Mclaren factory to win Le Mans in 1995 - and whose company now run by son Dean - has a prestigious client base for whom his company prepares and restores serious historic racecars aswell as the acknowledged Mclaren F1 marque experts - so he knows his stuff.
Over 30 years the collector car market has just about out-performed all other commodities.
Nick Mason - one of the investor's in the new fund - bought his famed 250 GTO for in 1975 for £37,000. Today - what would you need to weigh-in to get Nick to sell - which I doubt he would - £15m-£20m+??
We can all but dream - but it is worth remembering that £37,000 in 1975 would have bought a couple of reasonable houses - mind you £15m today would get you a couple of very respectable pads....
Copy from IGA web site below:
IGA Automobile LP ‘The Fund’ will invest in a selection of the world’s most desirable and limited production iconic collectors cars, offering investors a unique opportunity to participate in this emerging asset class.
The Fund’s objective is to deliver significant returns to investors through purchasing rare and sought after assets having taken into account market conditions and later selling them following capital growth.
Investment in this fund will benefit from the active management of assets by a team of industry professionals and specialist experts.
IGA Management Limited ‘The Fund Manager’ has brought together a team of globally experienced automotive professionals including successful collectors and dealers of the most important racing, sports and historic road cars to create and establish a new recognised asset class.
The Fund will offer investors diversification of risk whilst having the opportunity to engage in a comprehensive events programme providing access to a section of the Fund’s portfolio of assets.
