How One Car Collector Spends $4 Million in a Day
“Geneva is dangerous for me.”
(Bloomberg Businessweek) -- Kris Singh is so excited he’s almost vibrating. We’re gathered on the Aston Martin stand at the Geneva International Motor Show, where the venerable British carmaker has just unveiled three concept cars: the Lagonda All-Terrain, a battery-powered SUV lined with silk and cashmere; the Vanquish Vision, a sports car intended to compete with $250,000 Ferraris; and the AM-RB 003, a 500-unit, $1.3 million hybrid that resembles a demonic specter in an astronaut’s helmet.
All three are years from being road-ready, but that doesn’t matter to the 39-year-old Miami-based investor. “I love seeing things for the first time in real life instead of on the internet,” Singh says. “Being surprised, that’s so rare these days. It’s like being a part of history.”
History hasn’t been kind to auto shows in recent years. Luxury car companies such as Bentley, Lamborghini, Mercedes-Benz, and Porsche have fled them in droves because of the expense of constructing stands and the ease of revealing a car online instead. A more au courant way to network and negotiate with customers is at high-touch, low-key equestrian events or the classic car shows at Amelia Island, Fla., and Pebble Beach, Calif.
Geneva is the exception. Each March the European banking and diplomacy hub attracts the biggest names in high-end automobiles, as well as countless obscure brands. Toyota Motor Corp., Fiat SpA, and other mainstream automakers also have a presence here, but it’s the Bugattis of the world that spend €1 million to €2 million to introduce their latest creations. Over two VIP days, hundreds of millionaires will kick the tires on hundreds of millions of dollars’ worth of exotic cars.
“Geneva is a dangerous sport for me,” Singh says. “I find something that I want to buy here every year.” He owns a $1.5 million Pagani Zonda, a $2.5 million Koenigsegg Agera RS he bought in Geneva four years ago, and a $3.9 million Lamborghini Veneno he’d already ordered by the time he saw it for the first time in real life here in 2013. He shares pictures of his favorite cars with 721,000 followers on Instagram, often with the hashtag #blessed.
Holding a single-page intent-to-buy contract, Peter Freedman, the regional marketing director for Aston Martin Lagonda Ltd., greets us in the shadow of the 003’s open butterfly-wing doors. Singh already has on order a $2.5 million Aston Martin Valkyrie that will feature a chromatic paint job made with crushed moon rocks. But he’s expressed interest in buying the 003, too, though it won’t be out until late 2021. Now, considering the other potential buyers who are circling and its limited production run, he kneels to sign the contract on the front fender. Freedman compliments him on his excellent taste, and the two shake hands and laugh.
At the McLaren Automotive Ltd. booth, in a VIP area behind a velvet rope, privileged customers are granted access to the brand’s top executives and designers, with whom they can discuss future product plans, schedule track weekends, or spec a custom color and trim. “We’re all sort of courting for engagement,” says Ansar Ali, managing director of special operations for the British manufacturer, as dozens of McLarenistas eat sea bream tartare and sip Deutz Champagne. “It’s not about being seen,” he says. “It’s about being behind the scenes.”
In Bugatti GmbH’s private upstairs lounge, an international group of well-preserved men and women hug, slap backs, and toast with flutes as if they’re at a royal family reunion. “We want to make everyone feel like they are part of the family,” says Christian Mastro, a sales, marketing, and customer service executive for the brand. About 100 Bugatti customers will visit over the two VIP days, significant for a brand that’s produced fewer than 1,000 cars in the past two decades.
This dance of salespeople with their top clients illustrates how, when dealing with exclusive, desired, and rapidly appreciating objects like these, the relationship goes both ways. Singh must persuade the automakers it’s worth selling one of their precious wares to him. Lingering in the Bugatti lounge, he excuses himself when he sees company President Stephan Winkelmann enter. “I want to get him to give me a Divo,” he says.
The problem? Only 40 of these $5.8 million track-focused Divos will be built, and all of them are spoken for. Singh says he was offered the opportunity to purchase one, but it came with the prerequisite that he also buy one of Bugatti’s $2.7 million Chirons. “I didn’t want a Chiron,” he says. “And when I saw the Divo the first time, it was on video, and I didn’t really like it.” Now he does.
He returns, undaunted. “I’ll get a Divo,” he says. We pass the Koenigsegg Automotive AB stand, where the Swedish maker of the world’s fastest production car, the Agera RS, has unveiled its successor, the Jesko. It has a tall rear spoiler that cantilevers acrobatically; its 1,600 hp motor is wrapped in carbon-fiber bodywork that resembles an advanced air force weapon.
“I must have it,” Singh says, vibrating again. “Koenigseggs are legitimately the best. They make everything else feel slow.” He signs another contract on the table-size rear spoiler. Asked how much, he shrugs. “I have no idea,” he says. “Joking. I think it’s $2.7 million.”
To contact the editor responsible for this story: James Gaddy at jgaddy@bloomberg.net
©2019 Bloomberg L.P.