BT MAGAZINE 2024 VF no marks 8 oct - Flipbook - Page 28
ISSUE 17
§
THE ALLURE OF RARITY
Steve McQueen was passionate about rare, highperformance cars, which have significantly appreciated
in value over time. For example, his 1968 Ford Mustang
GT, featured in the film Bullitt, sold for $3.74 million
in 2020. McQueen also owned a 1976 Porsche 930
Turbo Carrera, which fetched $1.95 million at auction.
Investing in scarce, high-value assets such as rare
collectables, fine art, or limited-edition items can offer
substantial returns.
Personalising investment strategies by aligning
them with one's passions and values can offer a more
engaging and rewarding financial experience. It allows
investors to enjoy their investments on a personal level
while potentially benefiting from significant financial
gains. This approach transforms investing from a purely
financial activity into a reflection of personal identity
and values, making the wealth creation journey more
meaningful and enjoyable.
Another notable example is McQueen's 1957 Jaguar
XKSS, one of only 16 ever made. It is considered one
of the most valuable cars globally, further showcasing
the allure of rarity. These types of investments provide
an alternative to conventional assets and can diversify
portfolios, mitigating risks associated with traditional
investments. Rare and high-value items appreciate over
time and carry a unique story and prestige that can
enhance their worth.
CULTURAL IMPACT AND MARKET VALUE
INVESTMENT AS AN EXTENSION OF PERSONALITY
This phenomenon is similar to investing in assets
linked to other historical figures or cultural icons.
Memorabilia associated with icons like Marilyn Monroe
or Elvis Presley often command high prices due to their
cultural significance and the emotional connection
collectors feel towards these figures. For example,
Marilyn Monroe's iconic "Happy Birthday" dress fetched
$4.8 million at auction, highlighting how cultural
significance can drive market value.
McQueen's investment choices reflected his rugged,
authentic, and independent persona. His collection of
cars, motorcycles, and even aeroplanes mirrored his
passions and values. For example, McQueen's love for
motorcycles was evident in his extensive collection,
including the iconic 1938 Triumph 5T Speed Twin he
rode in The Great Escape and the Husqvarna 400 Cross
featured in On Any Sunday. These investments brought
him personal joy and appreciated significantly in value
due to their association with his legendary status.
Similarly, aligning investments with personal interests
can lead to more satisfying and potentially lucrative
outcomes. For instance, someone passionate about
music might invest in vintage guitars, like a 1959 Gibson
Les Paul, which are highly sought after by collectors
and musicians alike. These instruments not only hold
their value but often appreciate due to their rarity and
historical significance.
Supporting startups that align with one's values is
another way to personalise investment strategies.
For example, investing in eco-friendly technology
companies or sustainable agriculture startups aligns
with environmental values and taps into growing
markets with significant potential for returns.
Steve McQueen's iconic status has significantly boosted
the value of memorabilia and assets associated with
him. Items once owned or used by McQueen often fetch
high prices at auctions, driven by his enduring cultural
legacy. For instance, his 1970 Porsche 911S, which
he drove in the film Le Mans, sold for $1.375 million,
and his racing suit from the same movie fetched over
$984,000. This illustrates the substantial premium
placed on items linked to his persona.
Investing in assets connected to cultural icons can
offer substantial returns and provide stability against
market volatility. These assets tend to appreciate in
value due to their rarity, historical importance, and the
timeless appeal of the figures they are associated with.
This can also be seen in the art market, where works
by renowned artists or items once owned by significant
cultural figures maintain or increase their value over
time.
By incorporating such culturally significant assets into
their portfolios, investors can diversify and potentially
achieve greater financial stability. The cultural impact
of these assets adds an additional layer of value that
goes beyond mere monetary worth, offering a unique
blend of emotional and financial returns.
28
