Supercar investment gone wrong.

[BlackLabel]

Meet a bloke in a shisha bar and then decide to go into business with him flipping super cars. What could possibly go wrong?

http://www.telegraph.co.uk/news/2018/02/17/city-tr...

[Welshbeef]

Haha

[aaron_2000]

Financial natural selection. Investments they didn't even own. Morons.

[slarti650]

Ouch. The best of people can get suckered into the wrong schemes. Folks that make lots of money often take risks to do this. When the risks work out they’re lauded as hero’s. When they don’t work then this is how the world and it’s media mocks them.

[MDL111]

Mmhh - would this still be tax free profit (if they had made any) give it is two guys together doing it clearly for investment purposes?
win some lose some I guess - probably better not invest in stuff one does not know much about

[Wilmslowboy]

said:

Mr Levchenko believed he would earn interest of 3.75% a month on the loan.

Too good to be true......

[Yipper]

Suspect the whole story is not being told on this one. Offering a big wedge of cash to a stranger is very odd behaviour.

[cgt2]

There are a few similar situations ongoing and by no means is this the first time.. always happens in a bubble when greed overtakes objectivity and common sense.

[WCZ]

he didn't pick the right cars, mclaren and lambos aren't great investment cars

[Ferruccio]

WCZ said:

he didn't pick the right cars...........lambos aren't great investment cars

I wish I’d bought the white Miura S I saw in Uxbridge in the late 80s for £30k.........
Or the RHD 400GT 2+2 that’s up for auction at an estimate of £400-500k that was £25k back then.
Or the RHD LM002 that was at AFN in the mid-90s for £35k.......

[rich12]

I didn't realise the MP4 was considered a classic already!

[ghost83]

Not exactly rare cars! I could understand if they were speciale or challenge models but not just run of the mill supercars l! Yes u could argue that the 812 would make profit as the entire allocation has sold out but can’t see a aventador S gsining value

[WCZ]

Ferruccio said:

I wish I’d bought the white Miura S I saw in Uxbridge in the late 80s for £30k.........
Or the RHD 400GT 2+2 that’s up for auction at an estimate of £400-500k that was £25k back then.
Or the RHD LM002 that was at AFN in the mid-90s for £35k.......

you're talking about 30 years ago!
try making that kind of return on any new lambo (aside from the 1 of 1 track only things!)

[brickwall]

Yipper said:

Suspect the whole story is not being told on this one. Offering a big wedge of cash to a stranger is very odd behaviour.

I indeed. I suspect the relationship here was possibly more than purely financial, it's soured, and now someone is seeking
a) Personal revenge and/or
b) Something to cover up the true nature of their friendship

[85Carrera]

WCZ said:

you're talking about 30 years ago!

This always gets me as well; how many people had a spare 30k in the 80s?

Not too many and finance was not as widely available either

[Superleg48]

£30k in 1985 is the equivalent of £65k in today’s money...

[JuniorD]

Not clear if the Ferrari 365 GTC was acquired for £750k or £875k, but either way it sounds like top whack!

[7795]

Remember the value of investments can go down as well as plummet...