Car Collecting: Turning Passion into Income

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“The hunt is fun” says Jay Leno, famous late night television entertainer and comic genius who also happens to fill a garage with 193 cars. Leno has been collecting cars even before the market exploded, so as a result, he now owns numerous cars interesting that now sell millions.
But it wasn’t just all about the money. In fact, most car collectors didn’t begin with this activity profit in mind. In fact, it’s challenging to establish a sound stream of income out of collecting cars especially if you’re inexperienced and the cars’ maintenance and restorations are way out of your budget. What gets the car collecting market going and eventually provide collectors handsome returns come from passion.
This read is composed of two parts: the first discusses the why’s and how’s for car collection and the second is dedicated towards making your car collection a business endeavor. Also expect some pieces of wisdom and advice from one of the world’s enthusiastic car collectors, Jay Leno.
Jay Leno: A Telling Example for Collecting Cars
You actually need to tour Jay Leno’s garage which is being maintained by four hands-on mechanics full time. That’s saying a lot about the vastness of his car collection. But it isn’t just Jay leno who loves his cars. A number of other celebrities, sports headliners and artists are also into the hobby, including but not limited to John Cena, Michael Jordan, Lebron James, Akon, Jay Kay, Kanye West and Missy Elliot. Between Maybachs to Ferraris, Mercedes, Porsche and Aston Martin’s, it can seem that collecting cars are reserved to just those who can afford them.
Jay Leno may have a 193-car garage now, a far cry from a two-car garage owned by average Americans; but this savvy car collector actually began his collection even before he came into the entertainment industry. Cars certainly make a good investment, but for Leno’s 14-year old mind, the price was not an issue. He bought a $350 Ford Truck in 1964 that didn’t run, but he loved it. It was more than a decade older than him at that point but the teen figured out how to run the vehicle.
He then had a stint working for Bentley and Rolls Royce dealership which fueled his initial interests in owning and collecting cars. He wanted to own a Bentley so badly and figured being an international entertainer would afford him these vehicles. Today, a number of 20-30s Bentleys sit in his garage.
But even when Leno is earning more than enough to buy the cars he covets, sparkling and brand new, he still goes back to his number one reason why he is collecting cars in the first place: love and passion.
The Basics of Car Collecting – Reasons for and How to Start your Car Collection
For most of the car collectors, having passion and interest for cars is an important and essential step in beginning a car collection. It’s like first base in a relationship.
You can read more of this article in our November 2015 adult issue of ModelsMania
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