What do you guys think of this?

I work in the financial world so what I am thinking about here represents something like a mutual fund/ stock or if you do real estate then a timeshare...

We need to get 16 of us together with US$120k each, and just go buy one of these F1's, preferrably an LM (my favorite) store it someplace close enough to all of us, London, or other, and spend the next few years taking it to all the places each of us want to drive and/ or show it.

Essentially have 32 shares available @ US$60k each, then if someone preferred they could buy more shares etc. Additional costs will be covered by the group in yearly/ monthly dues such as rubber, insurance, storage, maintainance, hauler etc.

We would elect a 3 member board to resolve time disputes and handle the management of the group and obtain an E&O insurance policy to pay for the repairs, which I am sure would be part of the game.

Just thinking outside a little! Maybe :screwy:

Regards
WG :evillol:

I would be happy to work out a proposal and send it to interested parties.

I think you will find that the median age of members on this forum is about 25. Finding even 5 people who post here that could scrape together/borrow/steal $60,000 is going to prove extremely difficult. :lol:

Sorry - I hate to be a pessimist, but it just doesn't seem likely.

I won't delve into the insurance side of things, or what happens to the other investors when one of the 16 inevitably wrecks the thing, or who's fanny gets fitted to the seat, or squabbles over who gets to drive it. :uhoh:

And none of the LMs are available it would seem, so if you really want to pursue something like this I suggest setting your sites a notch lower in that regard. ;)

>8^)
ER

I think your costing is off...it would be closer to 120k with storage, transport, administrative fees, maintenance, insurance, etc. At 60k, I would be interestd, but at 120k, I would not be. Show me how these cost categories are all addressed at 60k, and find 19 other people, and we can do it. Each member gets the car for 2 weeks, right?

Also, I would not be interested in an LM or GTR. The LM is gorgeous to look at, no doubt, but it's far too expensive (if you could even persuade anyone to sell theirs) and I would prefer to drive the less noisy regular F1s. And the GTRs are just too uncomfortable/spartan/race-oriented.

Yeah, you may be right but I thought I would float the idea and who knows, stranger things have happened. I occasionally work with a group of independant movie makers here in southern california that raise $4mil every six to eight months to make their movies. All we do is call people on the phone and close 'em. Really amazing how people will part with their money! :grinyes: Check out this site:

www.reelfilms.net

WG

I think your costing is off...it would be closer to 120k with storage, transport, administrative fees, maintenance, insurance, etc. At 60k, I would be interestd, but at 120k, I would not be. Show me how these cost categories are all addressed at 60k, and find 19 other people, and we can do it. Each member gets the car for 2 weeks, right?

Also, I would not be interested in an LM or GTR. The LM is gorgeous to look at, no doubt, but it's far too expensive (if you could even persuade anyone to sell theirs) and I would prefer to drive the less noisy regular F1s. And the GTRs are just too uncomfortable/spartan/race-oriented.

I will put something together over the next few days and will send it you.

WG

Another thing to decide is where you would keep the car. You want fantastic weather so every member gets to use the car for 100% of their time. You want it to be a nice, popular place. And you want it close enough to a major servicing facility. It's obviously Europe in the summer. But what about the other three seasons? Australia in the winter is a possibility. Maybe west coast US in the fall/spring? That's 4-5 airfreight flights you gotta factor in at $5,000-$10,000 each.

Start -> LA (spring) [service carried out here first]
LA -> Europe (summer)
Europe -> LA (fall) [service carried out here at end]
LA -> Sydney (winter)
Sydney -> back

Also factor in at least 3 clutches. I forget what those cost, anyone remember?

Thats a GREAT idea!! Lets all pile into a car w/ one seat!!!

Thats a GREAT idea!! Lets all pile into a car w/ one seat!!!

You sir, are too intelligent to be on this board. Might I suggest this one (http://www.ratemypoo.com)?


.

Thats a GREAT idea!! Lets all pile into a car w/ one seat!!!

:lol2: :lol2: :lol2: :lol2: :lol2: :lol2: :lol2: :lol2:

Sorry - I know I'm the Moderator and all, but I just can't help it.

G-man - for the record, the McLaren F1 has 3 seats. :thumbsup:

>8^)
ER

You sir, are too intelligent to be on this board. Might I suggest this one (http://www.ratemypoo.com)?

.


:lol2:

this is an interesting idea, i've always said i wish everybody could experience the car. if you want my advice/guidance i'd be happy to help.

initially, my concerns:

- insurance for a group. this might not be as easy to solve as you think.
- maintenance. this could be extremely high if everybody drives the car hard.
- damage. enough said.
- downtime. there are few places to get the mandatory work done. it will take time.
- depreciation/appreciation. ?
- S&D mileage limit. 2500 miles/year divided by 20 people = 125 miles/person
- acquisition. prices are going up. availability is limited.

I'm sure they'll be other challenges too, however if there is enough buying power in this group, let me know and i'll lend a hand.

Frank

Also factor in at least 3 clutches. I forget what those cost, anyone remember? $12,000 I think.

this is an interesting idea, i've always said i wish everybody could experience the car. if you want my advice/guidance i'd be happy to help.

initially, my concerns:

- insurance for a group. this might not be as easy to solve as you think.
- maintenance. this could be extremely high if everybody drives the car hard.
- damage. enough said.
- downtime. there are few places to get the mandatory work done. it will take time.
- depreciation/appreciation. ?
- S&D mileage limit. 2500 miles/year divided by 20 people = 125 miles/person
- acquisition. prices are going up. availability is limited.

I'm sure they'll be other challenges too, however if there is enough buying power in this group, let me know and i'll lend a hand.

Frank

Well, life really throws out a few curve balls now and then.
I get interested in McLarens in 1999.
Meet Gordon Murray in Gattwick airport along with Mr. DeCadenet in March of this year.
Find a great board with some of the smartest Mclaren people out there!(Pelo, Mini, Thorst, F1... you know who you all are)
Email with Doug @ turner a few times and then come up with a proposal that interests an actual owner...I am speechless despite eveidence to the contrary. Thank you Mr. Seldorf you made this a great year!

Here are a few of the thoughts I am working on:

#1. It cannot be a "timeshare" per say. It must be event and location oriented, meaning that the car does not come to the investors but goes to tracks, shows etc. that are regionally acceptable. After the first year or so, everyone will be checked out (quallified) on the car, the governor/ inhibitor (probably an insurance must have) can be removed, and true enjoyment of the car can be experienced by each owner.

#2. Driver training: All quallified drivers must be able to handle the vehicle. Insurance will require some sort of definitive course before we can release this vehicle to anyone.

#3. ROI (return on investment). Person's going into this as an investment vehicle for profit are not what we would be looking for. As Mr. Seldorf said, with a group and the high mileage that will follow, we will absolutely reduce the resale value but I don't think any of us would ever sell! Additionally we would want to drive it, taste it, savor the essence that is McLaren and not be concerned about getting anything back from a once in a lifetime chance for most. ( I mean, what price would you put on a dream?)

#5. Share holders will get to experience the vehicle at pre determind locations (board decisions by majority vote annually). Some of these will be events that can produce revenue...posters, photos signed, previous winning drivers with guest photos etc. can generate revenue for the group. This revenue (not certain at this point whether legally we can do this) will help reduce operating expenses. I am confident that with the proper (PR) advanced marketing that event promoters globally can increase their "draw" and we can get a %.

#6. Insurance deductable= you wreck it, you pay the deductible.

Let me do my thing for a week or so and I will post a preliminary prospectus of this project. I will also call a contact I have with Lloyds about underwritting issues. Anyone who would like to send me detailed requests, ideas, or any suggestions feel free to contact me anytime.


Regards
Wayne Gailey Jr.
[email protected]
[email protected]
San Diego, CA

this is an interesting idea, i've always said i wish everybody could experience the car. if you want my advice/guidance i'd be happy to help.

I'm sure they'll be other challenges too, however if there is enough buying power in this group, let me know and i'll lend a hand.

Frank


My apologies,

In my enthusiastic haste, I forgot to thank you. I/we would most definately accept your help, guidance, essentially anything you would ever care to offer to this project. My goal is to make this a project that is commited to "letting everybody experince the car"! I haven't come to terms with the gravity of this concept yet. Simply put, the idea of using the car as a commodity is something only heavilly financed race teams do. Your offer of assistance, considering the wealth of knowledge you bring to the table will be an invalueable asset in making this a reality. Again, I would like to thank you and accept your offer of assistance dependant on financial viability of the concept.


ps. I hear that if your feet are too large, you cannot drive the car correctly, hit all three pedals, T/F?


Best Regards,
Wayne Gailey

Thank you Mr. Selldorff you made this a great year!

I too appreciate each and every contribution that Mr Selldorff makes to our forum. Just when you think he has gone away for good, he pops up and adds some insightful commentary. I think it really is wonderful that he sees value in the discussions here and I thank him as well for the time he has spends here. :sunglasse

ps. I hear that if your feet are too large, you cannot drive the car correctly, hit all three pedals, T/F?

I'd say no on that one - the gas and brake are somewhat tightly spaced together to aid with heel/toe, so small shoes might be a necessity, but you'd have a hard time getting at all three pedals at once based on what I can tell from this photo:

http://img.photobucket.com/albums/v482/Peloton25/McLaren%20F1/1997_McLaren_F1_20_640.jpg

>8^)
ER

You only need to look at the size of a few owners like Jay Leno and a few pictures of the footwell to know that is false.

As for mileage restrictions...that is for public roads only. There's plenty of private roads, racetracks, etc. Plus, there's another workaround. Buy the car, title it in Europe in the name of a European passport-holder/European corporate entity, and ship it in temporarily. No mileage restriction.
Third option, keep it in Europe, South Africa, Australia-no mileage restriction.
I have several others in mind, but these should be enough to get started.

I don't like the idea of a mileage restriction.
And I don't think the car will depreciate too much if serviced and maintained properly.

The amazing thing about this is that it's a one-time fee to get into the program. Then, for 1/20 the maintenance costs, you partially own the car for perpetuity, or until it's sold. Of course, you only own it for 2 weeks each year, but woo hoo!!!!

I don't like the idea of a mileage restriction at all. Each member should be allowed to use it as his vehicle for the two weeks he has the car. This means drive it continuously, track days (non competitive only), park it on the driveway, whatever you would want to do.

As for damage, yeah, that's a concern. A big one. I would get enough insurance to pay everyone back if it ever came to that. I wouldn't want to wait 8 months or more while the car was being fixed, if I was expecting it in a month.

I would also certify each driver, and get them to sign an agreement that stipulates reasonable restrictions.

When i was refering to the f1 only having one seat i meant when they where first braought to the US.
But i now know most Mclaren F1's have 3 seats. My Bad. www.rapidcars.com/f1interior3.jpg

Let's just say that the one seat conversion may have happened once or twice, but didn't last very long. None of the first seven F1s that were imported by Amerispec as referenced in that Road & Track article have retained any of the changes that supposedly made them legal. There are other threads here where that has been discussed at length. You can probably find them by searching the forum for "Amerispec" & "Ameritech".

>8^)
ER

Gentleman...(and Ladies if there are any) Things are slowly moving along. I will hopefully have more detailed information available (yes I was extremely optimistic in my earlier posts regarding this venture) by the end of 2005 early 2006.

WG

This car sharing idea is pretty popular in Europe. Damon Hill the ex-formula one world champion has a company called P1 www.p1international.com. They don't have a McLaren but they do have a selection of pretty exclusive cars and the website explains how it all works - if anyone was in a position to make the mclaren purchase a viable proposition it would probably be a club like p1 given the likely wealth of the current members