Antique car collectors try to spark interest among China's newly wealthy

China Daily - Ian Wade has made antique car collecting his lifelong hobby. At more than 70 years old, he still holds a job in order to fund his expanding collection.

Antique car collectors try to spark interest among China's newly wealthy

"For my beloved cars, I cannot retire. But I enjoy my work to support and expand my collection," said Wade, who is a board member or director of five Chinese companies, including China Zenix Auto International Ltd.

With more than 50 years of corporate management experience, the Hong Kong-based British antique car collector made his name in China by providing successful leadership at A.S. Watson Group, a wholly owned subsidiary of Hutchison Whampoa Ltd, from 1982 to 2006.

As group managing director, he expanded Watson's retail business from 16 stores to 7,700, serving approximately 25 million customers a week across more than 30 countries. The company now employs more than 100,000 people and has more than 35 brands.

"That's bygones. All I want to talk about now is cars," said Wade, who has a private museum in Yorkshire in the United Kingdom with 105 antique cars, the majority of which are Italian brands, such as Maserati, Alfa Romeo and Lancia.

As the largest private collector of Maseratis, Wade cooperated with the Italian sports car brand to exhibit some of his precious cars in Shanghai in November, providing an opportunity for Chinese antique car fans to get up close and personal with the widely appreciated racing cars.

"In my view, a resurgence in antique car collecting is in the making among Chinese car enthusiasts and the newly rich. Some mainland collectors have become interested in antique cars, influenced by their friends from Europe, the United States and Hong Kong," said Wade.

More importantly, "during a global economic downturn, there is still enough capital among car collectors and rich investors on the Chinese mainland," he added.

"I hope more Chinese will join antique car collecting, and I strongly believe it will happen. That way the value of my cars will boom from the increasing enthusiasm," he said with a laugh.

Wade said that a good example of investing in antique cars is his Maserati 250F. "I spent 500,000 pounds ($809,250) on the legendary car, which won 55 races in the 1950s. Now its value has surged to $2.5 million."

Earlier in December, the State Administration of Culture Heritage held the first antique car-collecting seminar in the Shanghai Auto Museum, which was attended by collectors, experts and museum directors, in a bid to promote antique car collecting and culture in China.

In October, the German automaker Volkswagen AG held an antique and classic car rally from Beijing to Shanghai. The company shipped its 1930 8-liter Bentley, Lamborghini 400 GT, 1975 2.7-liter Porsche 911, 1956 Volkswagen Beetle Miglia Mile and 1972 Beetle Salzburg Kfer from Europe to participate in the rally.

The company hoped to attract attention and arouse more public interest in antique and classic cars from Chinese car fans along the 1,600-kilometer journey.

"For new Chinese collectors, my suggestion is paying attention to auctions for famous brands. Support and help from professionals is also necessary," said Wade. "Just as with rare and ancient antique collecting, investing in cars carries risk."

In 2011, Beijing Poly International Auction Co, the fastest-growing Chinese auction house, sold five antique cars at its spring auction, the first such auction in China.

"Buying cars at an auction house in the United States and Europe is a good idea, though transporting the vehicles back to China will be difficult due to import regulations," said Wade. "And the high maintenance costs and lack of antique car mechanics in China are also challenges."

Wade also emphasized the development of China's luxury vehicle and sports car culture.

"It's also a key element for China's automobile industry to catch up with Western markets in those areas."

阅读 9
  • 和开发者交流问题的细节
  • 关注并接收问题和回答的更新提醒
  • 参与内容的编辑和改进,让解决方法与时俱进
原标题:一只猫出门散步,引来25万人围观,都是因为它头上的这把伞这模样也太可爱了吧!日本一名推主日前分享一组猫咪的照片,这天外面下着小雨,但是爱猫「米尔」坚持要外出散步,当网友看到照片后全都笑说:「真 ...
China's Hirain Technologies to start trading on April 19th on SSE
Beijing (Gasgoo)-China’s automotive electronics supplier, Beijing Jingwei Hirain Technologies Co., L ...
Tesla recalls 127,785 Model 3s in China
Beijing (Gasgoo)- On April 7th, Tesla issued a recall for 127,785 of Model 3s in China due to faulty ...
Dongfeng Motor's premium NEV brand VOYAH lifts price on electric FREEs
Beijing (Gasgoo)-On March 31st, the premium new energy vehicle brand of Dongfeng Motor, VOYAH, annou ...
原标题:为啥康熙刚死,雍正就把宜妃赶出了宫?百年后才知道原因自古以来,皇帝对于女人向来是薄情寡义,尤其是乾隆皇帝,可谓是真正的后宫佳丽三千,这些嫔妃们为了得到皇帝的欢心,费尽了各种心思,甚至斗得你死我 ...
Leapmotor delivery volume hits 10,000
Beijing (Gasgoo)-China’s electric vehicle startup, Leapmotor, celebrated its monthly delivery volume ...
Roundup: March, first
All of China’s major automotive groups achieved month-over-month sales growth in March, but compared ...
CATL’s German plant green
Shanghai (Gasgoo)-On April 4, Contemporary Amperex Technology Thuringia GmbH (CATT), CATL's firs ...
原标题:为啥康熙刚死,雍正就把宜妃赶出了宫?百年后才知道原因自古以来,皇帝对于女人向来是薄情寡义,尤其是乾隆皇帝,可谓是真正的后宫佳丽三千,这些嫔妃们为了得到皇帝的欢心,费尽了各种心思,甚至斗得你死我 ...
BYD’s net profit forecasted to surge 174%
Shanghai (Gasgoo)-BYD Company Limited (“BYD”) announced on Monday its quarterly net profitable attri ...