Louise Kramer
10/01/2005
A devotion to rare automobiles can be a tainted love. The hassles of maintaining, storing and reselling classic cars often detract from the joy of ownership. But now aficionados can indulge their passion for an ’89 Ferrari 348 GTB or a ’57 Porsche Speedster with few strings attached.
Classic Car Club,
which opened in July in Manhattan with plans for franchises across the country,
starting in Boston, Baltimore and, possibly, Palm Beach, is a base for members
to drive dozens of rare, vintage cars—and new models club owners deem cool, like
the 2005 Mustang GT V8. Limited to 500 members at each location, drivers get to
pick whichever car thrills them for 40 or more days a year; annual fees start at
$7,000.Founded in London, the club is more than a timeshare for autos. The 10,000-square-foot showroom boasts 90 cars alongside a bar where enthusiasts can share their love for vehicles with like-minded souls. The club also offers off-site events, such as driving lessons from professional racers, including Justin Keen of Team Lister Storm.
“Owning material objects isn’t that difficult to do,” says Mike Prichinello, who opened Manhattan’s Classic Car Club with fellow auto enthusiast Zac Moseley. “What men and women prefer is to have experiences and conversational currency,” Prichinello says.
Craig Jackson, president of Barrett-Jackson Auction Co. in Scottsdale, Ariz., a leading reseller of classic cars, also plans to open an “”automotive country club,” in Scottsdale as soon he acquires local construction approval. Building could begin early next year—with an eye toward branches in Palm Beach and elsewhere. The club will allow members to keep their own cars on site and to sample a rotating fleet of about 40 models, including muscle cars like a Plymouth Barracuda, vintage exotics from Ferrari, Aston Martin and Lamborghini, and sports cars like the Shelby GT500.
“We will have an atmosphere where you come and hang out and share the camaraderie, and you can show all your cars,” says Jackson, who predicts his clubs will be havens for fans whose spouses “won’t let them build another 10-car garage.”
These clubs are emerging as interest in rare cars soars. Jackson said his auctions in Scottsdale and Palm Beach set sales records of $61.7 million and $22 million, respectively, this year.