JD Classics, what have they been up to?

[iSore]

stichill99 said:

Agree with the above. Hood may have been greedy but as mentioned above the market was driven by investors who were no doubt greedy for a easy shilling aswell. Just like the property boom and all the programmes about how easy it was to make a fortune.

I'm possibly alone here in feeling some sympathy for Derek Hood. He's a secondhand car dealer and his job is to relieve as much money from gullible fools as he can and thus make himself richer. Twas ever thus.

'Here comes a rich fool'. Rich fool arrives, is talked out of a lot of money by someone smarter than him and is now crying rape because someone smarter than him had him over. Nothing was stolen and Tuke is a grown adult. It's a bit more than sawdust in a Cortina axle but nobody forced him to buy these cars. He wants someone else to pay for his greed and stupidity.

[No ideas for a name]

iSore said:

'Here comes a rich fool'. Rich fool arrives, is talked out of a lot of money by someone smarter than him and is now crying rape because someone smarter than him had him over. Nothing was stolen and Tuke is a grown adult. It's a bit more than sawdust in a Cortina axle but nobody forced him to buy these cars. He wants someone else to pay for his greed and stupidity.

Except it was fraud.

Hood was employed to act as an expert advisor to source cars in return for a percentage fee.
He then bought cars in, and sold on at a profit to his client, and also took the percentage fee for doing so.

[LotusOmega375D]

Quentin's classic car investment guides are the same every year. Of his most recent 30 models to buy before it's too late, I reckon only 2 have possibly bottomed out and that's the Maserati 4200GT and Ferrari 599GTB and that's really just a natural age thing. All the rest have long since been on the rise, so no "bargains" to be had there. If anything many of them are starting to fall in value. He knows this full well, but still keeps on talking them up for some reason.

[lowdrag]

I think I was wrong about the potential market bell-weather. I found this in the same H&H auction. Of course, one of only 91 made, but really, that much? And they can't even bother to put the correct steering wheel on!

https://online.handh.co.uk/m/lot-details/index/cat...

Edited by lowdrag on Thursday 13th September 17:51

[anonymous-user]

LotusOmega375D said:

Quentin's classic car investment guides are the same every year. Of his most recent 30 models to buy before it's too late, I reckon only 2 have possibly bottomed out and that's the Maserati 4200GT and Ferrari 599GTB and that's really just a natural age thing. All the rest have long since been on the rise, so no "bargains" to be had there. If anything many of them are starting to fall in value. He knows this full well, but still keeps on talking them up for some reason.

A couple of years ago he did a short lived car show with Jodie Kidd and on one programme it was about cars linked to James Bond films, every car was praised and expected to rise in value except (according to him)Triumph Stags(Diamonds Are Forever one made an appearance) since then they have gone up in value quite considerably and I sold mine earlier this year for a reasonable sum and have now bought a Maserati 4200 GT with manual box. I'm doomed if his Stag prediction was anything to go by.lol

[DonkeyApple]

grumpy52 said:

The true historic and unique cars will always demand a premium . What will happen now is that the "investment" crowd will slink away and all the over hyped and over priced cars will sink back to the natural levels they should be at .
Many of those in the real trade of classic cars were very wary of JD Classics in the past . In the early days the standard of the cars that they were churning out left a lot to be desired but lots of people with little knowledge and lots of money bought them at outrageous prices .
They then got very big very quickly which rang alarm bells with those that knew the company of old .
The size of the can of worms that is being discovered is going to surprise many .
Chasing where the money is will be fun to watch .

A premium at that moment in time. When a market drops, it drops. Everything drops. It’s only the rate of drop that differs within the market.

[Yertis]

lowdrag said:

I think I was wrong about the potential market bell-weather. I found this in the same H&H auction. Of course, one of only 91 made, but really, that much? And they can't even bother to put the correct steering wheel on!

https://online.handh.co.uk/m/lot-details/index/cat...

Edited by lowdrag on Thursday 13th September 17:51

So the vendor decided on ‘nut and bolt’ rebuild (of what from the description sounds a very nice car anyway) then on completion of said rebuild decided it was now too pristine to use and wants shot of it.

[singlecoil]

iSore said:

I'm possibly alone here in feeling some sympathy for Derek Hood. He's a secondhand car dealer and his job is to relieve as much money from gullible fools as he can and thus make himself richer. Twas ever thus.

'Here comes a rich fool'. Rich fool arrives, is talked out of a lot of money by someone smarter than him and is now crying rape because someone smarter than him had him over. Nothing was stolen and Tuke is a grown adult. It's a bit more than sawdust in a Cortina axle but nobody forced him to buy these cars. He wants someone else to pay for his greed and stupidity.

Trusting people is not a symptom of stupidity. If it was then society couldn't function.

[Doofus]

iSore said:

I'm possibly alone here in feeling some sympathy for Derek Hood. He's a secondhand car dealer and his job is to relieve as much money from gullible fools as he can and thus make himself richer. Twas ever thus.

'Here comes a rich fool'. Rich fool arrives, is talked out of a lot of money by someone smarter than him and is now crying rape because someone smarter than him had him over. Nothing was stolen and Tuke is a grown adult. It's a bit more than sawdust in a Cortina axle but nobody forced him to buy these cars. He wants someone else to pay for his greed and stupidity.

I feel no sympathy for Hood. But then I feel none for Tuke either. People who get into classic cars just for the money piss me off. Anyone who buys cars the way Tuke did, without even seeing them, often, seemingly has no interest in them as cars. Ergo, he pisses me off.

[Gameface]

iSore said:

I'm possibly alone here in feeling some sympathy for Derek Hood. He's a secondhand car dealer and his job is to relieve as much money from gullible fools as he can and thus make himself richer. Twas ever thus.

'Here comes a rich fool'. Rich fool arrives, is talked out of a lot of money by someone smarter than him and is now crying rape because someone smarter than him had him over. Nothing was stolen and Tuke is a grown adult. It's a bit more than sawdust in a Cortina axle but nobody forced him to buy these cars. He wants someone else to pay for his greed and stupidity.

I'm sure you'd be just as magnanimous if it was you relieved of millions...

[djone101]

Having had the pleasure of meeting both Mr Tuke and Mr Hood, I can assure you that Mike Tuke was very much an enthusiast. He came to Le Mans Classic with us in 2006 in his Ford GT. It’s only my opinion - but I really liked him. I met Derek Hood when handing a Ford GT over to him on a client’s behalf. I didn’t take to him, I found him very patronising.

I also live in Maldon so really hope that something is salvaged from this mess particularly when thinking of the employees and suppliers.

Edited by djone101 on Thursday 13th September 20:06

[Maldini35]

And poor old Jean Marc Gales.
Not the smartest career move it turns out.
Perhaps Lotus would welcome him back with open arms....

[Doofus]

djone101 said:

Having had the pleasure of meeting both Mr Tuke and Mr Hood, I can assure you that Mike Tuke was very much an enthusiast. He came to Le Mans Classic with us in 2006 in his Ford GT.

In that case, I find his apparent hands-off approach to buying through JD all the more baffling.

[Burwood]

iSore said:

stichill99 said:

Agree with the above. Hood may have been greedy but as mentioned above the market was driven by investors who were no doubt greedy for a easy shilling aswell. Just like the property boom and all the programmes about how easy it was to make a fortune.

I'm possibly alone here in feeling some sympathy for Derek Hood. He's a secondhand car dealer and his job is to relieve as much money from gullible fools as he can and thus make himself richer. Twas ever thus.

'Here comes a rich fool'. Rich fool arrives, is talked out of a lot of money by someone smarter than him and is now crying rape because someone smarter than him had him over. Nothing was stolen and Tuke is a grown adult. It's a bit more than sawdust in a Cortina axle but nobody forced him to buy these cars. He wants someone else to pay for his greed and stupidity.

You are alone. Clueless is the nicest thing I can say. Hence he easily brought down the daddy of classic car sales. Troll somewhere else, idiot

[Doofus]

Just because somebody doesn't agree with you doesn't necessarily make them a troll

[Burwood]

Doofus said:

Just because somebody doesn't agree with you doesn't necessarily make them a troll

Perhaps but still an idiot. I’m happy to defend Tuke. He was defrauded, end of.

[rallycross]

Bit late to this tale, but did the former boss of Lotus really exit Hethel to join this dodgy bunch? If so why, seems like an odd move.

[DonkeyApple]

BMW->VW->GM->PSA->Lotus->JDC->Golf Club

Chap seems to have been on a consistent trajectory working his way down and out for some time. He did a great job at Lotus but his move there wasn’t a step up. And JDC was probably all that was on the cards as a final step before 55 and out.

[Gameface]

irocfan said:

Gameface said:

irocfan said:

do fk off you pretentious ass. I ave got friends who work there so his feelings follow mine quite closely

So you're in agreement with this then?

iSore said:

I'm possibly alone here in feeling some sympathy for Derek Hood. He's a secondhand car dealer and his job is to relieve as much money from gullible fools as he can and thus make himself richer. Twas ever thus.

'Here comes a rich fool'. Rich fool arrives, is talked out of a lot of money by someone smarter than him and is now crying rape because someone smarter than him had him over. Nothing was stolen and Tuke is a grown adult. It's a bit more than sawdust in a Cortina axle but nobody forced him to buy these cars. He wants someone else to pay for his greed and stupidity.

I think that there is a fair degree of truth in that statement - no matter how unpalatable it may be. Is Hood a crook? Well given what has come to light so far it doesn't look good for him - what is of far greater import though is that there are a lot of people who work there whose livelihoods are at stake. People with families/mortgages/rent/commitments who are going to be concerned about what happens next - it seems that there are a number of people on this thread who are revelling in the potential downfall of this business with no thought for the innocent fall out (similar to the great unwashed's attitude towards "bankers").

As for Tuke - from what I read on here he wanted a get richer quick scheme and didn't do enough research - does that make it right or fair that he got screwed? No (I am curious though if there are people in his previous line of work smiling to themselves at his problems).

Someone mentioned earlier in the thread that in their opinion the hobby is better off without money just coming in and hoovering up x-amount of cars with the aim of not enjoying them as they are meant to be enjoyed but purely as a money-making vehicle. I do have a large degree of sympathy for this P.o.V.

Hood conned Tuke and possibly others.
Hood didn't care about his employees.
Hood ruined the business.
Tuke is an enthusiast according to Dave at GT101 who I have met and have no reason to disbelieve.

A fraudster is worse than any investor/collector in my book, and I'd be far angrier with Hood than I ever would be with people on PH.

[Burwood]

irocfan said:

Gameface said:

irocfan said:

do fk off you pretentious ass. I ave got friends who work there so his feelings follow mine quite closely

So you're in agreement with this then?

iSore said:

I'm possibly alone here in feeling some sympathy for Derek Hood. He's a secondhand car dealer and his job is to relieve as much money from gullible fools as he can and thus make himself richer. Twas ever thus.

'Here comes a rich fool'. Rich fool arrives, is talked out of a lot of money by someone smarter than him and is now crying rape because someone smarter than him had him over. Nothing was stolen and Tuke is a grown adult. It's a bit more than sawdust in a Cortina axle but nobody forced him to buy these cars. He wants someone else to pay for his greed and stupidity.

I think that there is a fair degree of truth in that statement - no matter how unpalatable it may be. Is Hood a crook? Well given what has come to light so far it doesn't look good for him - what is of far greater import though is that there are a lot of people who work there whose livelihoods are at stake. People with families/mortgages/rent/commitments who are going to be concerned about what happens next - it seems that there are a number of people on this thread who are revelling in the potential downfall of this business with no thought for the innocent fall out (similar to the great unwashed's attitude towards "bankers").

As for Tuke - from what I read on here he wanted a get richer quick scheme and didn't do enough research - does that make it right or fair that he got screwed? No (I am curious though if there are people in his previous line of work smiling to themselves at his problems).

Someone mentioned earlier in the thread that in their opinion the hobby is better off without money just coming in and hoovering up x-amount of cars with the aim of not enjoying them as they are meant to be enjoyed but purely as a money-making vehicle. I do have a large degree of sympathy for this P.o.V.

If you want to blame anyone, blame Hood. No one here is taking pleasure in the demise of JD. any business owner and he wasn’t even that, should consider their staff. Personally I’d go down before not looking after loyal people. I’ve got a thick skin but frankly am surprised at your vitriol on this matter.