Over the past five years at Monterey, Gooding has averaged $118 million worth of vehicles sold. Mecum had a 56 percent sales rate. And on average, $353 million worth of cars have sold in auctions leading up to The Pebble Beach Concourse. This year is different. A lot different, as …
Deferred Maintenance: The Hidden Costs of Exotic Car Ownership
As I basked in the sun with my family on a beach near Charleston, SC recently, I caught up on some of my favorite industry reading. Beach vacations are uniquely suited for this type of relaxation. This time, however, I shocked my wife and family when suddenly I began yelling …
Pebble Beach And Current Investing In The Classic Car Market
Pebble Beach is upon us and many of you have had your hotel rooms booked for nine months now. But how long have you been doing your due-diligence on that vehicle you have your eye on? The week-long event is always an incredible opportunity to see extraordinary vehicles, reunite with …
What Is Fee-Only Automotive Advising?
The Difference Between a Fiduciary and a Broker It’s a common question: “Dave, what do you mean by fee-only consulting?” “How are you different from a broker, dealer salesperson, my buddy who owns a restoration company, or my nephew who’s a certified Gold Meister?” At Precision Automotive Group, we’re committed …
Loosen Your Grip Part I: Scarcity vs. Abundance In the Automotive Industry
I’m writing to you, my fellow automotive industry professionals. I want you to think of a two-year-old playing with a ball. He is surrounded by his friends at a party. And they’re all watching him play, but he won’t share his ball. He has a garage full of balls, but …
The Mobile Auto Repair Threat: Is Your Car Dealership Ready for Turo?
Do you remember the first time you heard about Uber? It’s one of the more prominent examples of a disruptive business model that has turned an industry (in this case, taxi cabs) upside down and redefined how we go about our day-to-day lives. Another four-letter word is now on the …
PAG Featured In CNBC’s “Jay Leno Wannabes? Classic Car Market Goes Into Overdrive”
When Precision Automotive Group was featured in the CNBC article on the classic car bubble, “Jay Leno Wannabes? Classic Car Market Goes Into Overdrive”, I warned investors to be wary of inflated car costs. In just a glimpse of the article, here is some advice on how the market is …
Are we in a Classic-Car Bubble?
Over the past year if you remember, Precision Automotive Group was quoted in a CNBC article about a how we are in a classic car bubble. When it came out, everyone gave me a hard time saying that we are not in a bubble. Even Road & Track said we …
Why a Family Man Drives a Porsche Every Day
Guest Post By: Devin Beck “Devin, you’re married with an 11-year-old daughter, and you have a Porsche 911 Turbo as your daily driver? How do you justify that?” I hear this a lot, and here’s my response. Performance First I have made a number of bad car purchases that, in …
Duemila Ruote Auction
Who of you has heard of the Duemila Ruote Auction (“2000 wheels” in Italian)? Most likely not many of you. While most of us are in a turkey coma over the Thanksgiving holiday, RM Auctions will auction off 450 high-end cars, 150 motorcycles, 60 boats, and countless pieces of automobilia …