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Hannah Elliott

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172
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2020-02-07
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2020-02-07
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1
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  1. And now my wife who drives a stick when we were dating, I taught her to drive a stick. I'm going to have too much to drink one night. You're going to have to drive. That was the.

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  2. It's up for low 60s, a little haggling. I get a good price. I have someone come look at it and I get a 30-page report and I call the guy up and I'm like, listen, I appreciate the report. Bottom line for me. Dude, if you don't buy this car, I will. Okay. So for the price of like a nice Ford Explorer, I have this monstrosity in my garage.

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  3. I was probably doing 50, but it felt like, but anyway, so when he suddenly and unexpectedly passed away, it was one of those, it wasn't even a midlife crisis. It was life is short. What are you waiting for? And so I go out online and I start, all I know is I want stick shift, horsepower, and convertible. And I start hunting things down. And long story short, I find in Indiana just off of lease a M6 convertible, right? Wow. Now we talk about Bentley as sort of a near sports car. So these are 560 horsepower, but some people dyno them and they're closer to six. And it's just, it's a giant monstrosity. And new, I want to say it's like 135,000.

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  4. No. And I actually have two hardtops. I don't know how that ended up getting accumulated. But once I got, all right, so let me back up. There's a lot of funny stories about this. We all have car buddies. We all have people we spend time with. And this is supposed to be about you and not me. But I know you're going to appreciate this story. So a good car buddy suddenly passes away and we had kicked the tires, a million cars. I have a hilarious story I told at his funeral. He was an appraiser. had his leg in a cast And one day says to me, what are you doing tonight? Nothing. He goes, don't wear anything metal. We got to go to Brooklyn and look at a car. And long story short, I end up driving a Ferrari 275 down Ocean Parkway. And he's like, I got to test it. Step on the gas. Amazing. 90 miles an hour on a Tuesday night shaking.

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  5. I paid $5,000 for it. It needed some work, so we did a top half engine rebuild, replaced some exhaust, did some transmission work. So maybe over 20 years I'm into the car for, I don't know, 15. I'll never, and the interesting thing about the car is it came with the heart, so it's a convertible, but it comes with the hard top.

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  6. Black interior, white exterior for about 100. And that's a lot of wood It's just spectacular. So I got my SL was a birthday gift from my wife.

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  7. Depends on a bunch of things. 230, 280 with the stick. You could still find them for nice condition. One just went on Bring a Trailer white on blue, white exterior, blue interior, but it was an automatic, which doesn't excite me. No.

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  8. So the Mercedes that I have kind of been enamored for is the prior generation, the pagoda roof. Oh, The late 60s, early 70s, either the 230.

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  9. When a 250 Ferrari goes off and it's $12 million and there's nine of them left with matching numbers, that's such a one-off unique entity. And the audience for that are, all right, which of the 27 people can afford this and are interested are going to step up

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  10. The beauty of the internet is middle men who get to charge a big fat fee. And this is true whether it's finance or art auctions or whatever it is. They're under pressure because the technology and the share of information makes at least pricing middlemen.

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  11. They are giving the auction houses a run for the money because you could sell a half million dollar car there and not pay it. They pay a giant vig on it.

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  12. Educational. Right. And it's a really good community. People are really, really thoughtful in their comments. It's sort of like what blogs were like 20 years ago. But you wrote about how...

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  13. You know, I spoke to the points guy who does all the, they're coming out with an app. It's astonishing they haven't done that yet, but they've been growing so quickly. I mean, I've been trolling that site for, I don't know, two years? How long has that been around?

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  14. In the office, we get emails from clients. Why is Rinhault bidding $100,000 on cars? And it's like, no, no, I'm not bidding $100,000 on a car. I'm bidding $100,000 on a half million dollar car that there's no way in God's Green Earth I'm going to win. And if I do, fantastic, free money. Right.

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  15. You know, you sign up for a new website. For years, I've been using my last name and some password, and I just forget about it. And I kind of sometimes forget you're not that 17-year-old idiot you were however many years ago. So if you click the star, watch this car, or you subscribe to a car, or you've been on a car, those are three different things and you have three different. So sometimes I don't want to be notified every time one of these come up. Just let me know what's going on with the comments and bidding on this. And the best way to do that is to put a bid on the car. So I bid $100,000 on, I want to say it was a Dino, a Ferrari Dino. Cool. And I know, listen, these go for $300, $400, $500,000. I know I'm not getting that car

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  16. And Columbia isn't what it was. It's no longer... The days of cocaine cowboys. And right, and they have all these cars that need to be renovated. So funny story about bring a trailer.

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  17. Our top roof. Oh, classic. That's the one I'm a fan of with the black interior. So if this comes in, he goes, let me be the, he goes, I've supported dozens of cars. I'll be the test mule. Let me bring one in. And the price is like half of what you're going to pay with shipping. So you have to be willing to do something like that. But we sent somebody to the factory in Columbia. He took a video and sent it to it. Oh, sure. That's great.

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  18. So we start looking at one, fast forward to the end. His red convertible ships out this week, and that sort of sky blue. I don't know if you know the color with the white.

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  19. So, the one from Columbia, there's a long, crazy story a buddy who imports defenders from Spain. I was talking to him about the FJs. Yes, it is, and I was talking him about the FJs and I showed him a bunch and I said, listen, I really dig this car, but I can't pull the trigger on a 40-something thousand dollar 70-zero car that I know is, I don't mind spending money, but it can't be instant appreciation. So he looked at a few of them and he said, you know, all these are from South America, and that's where they're renovated.

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  20. And this morning I log on. I'm like, oh, okay, someone else has. So I've been on a bunch of cars. One that didn't meet the reserve, and I reached out to the seller and he never got back to me. In fact, that was an FJ I was willing to fly to Oregon to pick it up.

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  21. But two, your three year old, whatever it is, it's called three or four year old with less than 10,000 miles. I'm thinking that's 120, 140,000 car. I'm high bid at $75,000 since or whatever it was since Friday. And I'm starting to get nervous because the last thing I need is a sixth car.

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  22. I was high bid and starting to get nervous. So to me, in 2016, even so the new car comes out, the old car is dropping value a little bit.

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  23. So I am on Bring a Trailer all the time. And literally, I was on the way here, I logged in to look at a 2016 6,000 mile Bentley GT that since Friday...

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  24. The other thing I noticed, I forgot the name of the company, but it's sort of like Airbnb for cars. You can rent cars from other individuals. Yeah, that's it

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  25. Well, it doesn't work if you have 10 cars and 100 investors, but at 1,000 cars and a million investors it scales up. But even then, that's a lot of middlemen between an investor and a car.

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  26. Right. Totally. So the other thing that's interesting in the collectible world are these collector clubs where you could buy a piece of a car.

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  27. Meet your heroes, right? That interior is just so junky, but those things are pretty bulletproof. They're unstoppable. And the FJ has the same, the sort of troop benching in the back where you could put four people without a seatbelt across or six people in the back. I mean, I always thought that Defender 90s were really tough looking, the British version of course. Of course.

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  28. The new fort, right? There's a new Bronco coming. I used to love the Defender 90. Until I drove it and realized what a piece of.

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  29. I want to say 15,000 miles, and I now have 40,000 miles. The only thing I had to do is replace a handbrake. And that was probably my fault. And the radio. The radio just got replaced, which is a pain in the neck because it's a crappy radio. And the factory, it's like 800 bucks. I found it somewhere for about 500 bucks. But... The FJ, if I'm going to have an all wheel drive thing that I use occasionally, I want it to be a little more fun. And I really like that. Those have gone not quite full-blown crazy, but you can find renovated versions of those going for $40,000 and $50,000. And people drop big V8s in those for no damn good reason.

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  30. They've gone crazy crazy. Just off the chain and the car that I'm going to import myself from Bogada, Colombia is 70s-era Toyota FJ. Cool. I really like those. I have three people always, I have this. Grotesque orange crush two-door Jeep with the stick. And people are always asking me. So that was a salvage title. I paid less than 20 grand all in, a flood car. How much did you get?

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  31. See, at what point does the, like, there has never really been a big decrease in art collectors? From generation to generation, you have enough money eventually. I want a Rothko or O Jackson Pollock or whatever. That seems to be, or a Monet or whatever the previous 100-year thing was, that is not showing any signs of waning. But it seems like... This has got some demographic issues coming.

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  32. Liked when they were in high school, suddenly now. My question is, is that a diminishing? Group what happens twenty thirty years from now when that generation has grown up not caring about Camaros or Corvettes or even Ferraris.

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  33. That's a lot of podcasts. Let's talk a little bit about the collectible market, which over the past couple of years has gone crazy.

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  34. If it's a commute. And all the studies will show that the more time you spend in a car commuting, the lower your overall levels of happiness and life satisfaction are

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  35. These little nannies, if you're aware of them and use them appropriately, it's only going to make driving safer and better.

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  36. Right. Listen, it's not Tesla Autopilot, but we're stuck on one of the highways and bumper to bumper traffic. And I just put that on. Now, if you stop for more than three seconds, it goes off, which is really dumb because all of a sudden it goes off and now you start lurching forward is terrible

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  37. Which occasionally scares the hell out of oncoming drivers or my wife. And so when we got this, I always had it off in the mechanic because it just made this horrible buzzing noise. But in this, it's a very subtle vibe. Now, you could set it in the controls, so off medium hard. I want it hard. And I'm not sure if this is My wishful thinking, but it feels like when you drift on the right side, the right hand side vibrates. And on the left hand, the left hand. Let me tell you, it is really, really helpful. I don't know if other people like it or don't. The same thing with the cruise control. We rented a Nissan maximum when we were in Florida the other day, and it had the full...

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  38. I'm looking for the curve. No, I'm looking for show me where the entry to the turn is and where I'm going to accelerate out.

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  39. It's just it takes too long to reorient yourself. The greatest little toy that this car has is the lane notification. And it doesn't make the horrible noise that they just vibrates. Not only does it vibrate, but

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  40. But I liked it, and it was a lot of quirky things that went wrong with it. And she basically says, no thanks. Wow. So, and we had two other BMWs. So standardizing on, I don't have to know where the buttons are and just driving because she screams. I have a terrible tendency to take my eyes off the road and mess around. And when you go from an SL to a Jeep to an M to a porch. A lot of distractions.

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  41. So, first, I call this interface confusion. And you know what? We'll come back to this because there's a longer story about this.

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  42. I could not possibly agree more The funny thing is, and we'll talk more about my stupidity later, but both the, so my X4 is the MX4.0, and the previous car was the Makan S.

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  43. Right. And now, how significant is that relative to, hey, how does this thing drive? What does it feel like when I bury the accelerator in the toilet

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  44. So there's that. But BMW seems to have figured that out in the same way that GM figured out how to retire to. It's not two banks. It's just one or two cylinders. And they do it in a way that it's really not very noticeable, which is really, really interesting. All right, so you drive the car around for a couple of days. Are you taking notes or is it all you dictating?

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  45. It feels like an electric car. It's like, why is it so? But the, I don't want to say older Mercedes, but a five-year-old Mercedes and anything of that era, the whole car just shudders and shakes. And it's just way too annoying to make up a mile per gallon.

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  46. There's two really interesting features with the start stop. If you put the clutch down and put it into gear, the start stop goes on. Or if you hit the sport button, the start stops. It's very unnerving.

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  47. Fastback used up. The new one is more like an extended wagon. It's much more rational than the old one. And I think it's even better. And they made the interior very, very handsome. But hold that aside. This is the first car I've ever been in where the start stop is, I don't want to say imperceptible. But it's pretty good. The whole thing doesn't shudder in that annoying. Is the button to turn this damn thing off?

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  48. I think it's cool. If you only have one car and you need a truck but you want something sporty, that's the way to go. And the old one, you had that.

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  49. So, me too, until one of the new truck I have, which is the new BMW X4, it's the first, and it's really more of a crossover than a truck. It looks like a giant car until you pull up next to a real truck. It's like, oh, this thing is tiny. Although the X6 seems to be immense.

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source

  50. But it's a giant It's a giant gas t It makes a difference. You know, putting a bank of cylinders into retirement temporarily, which I know even corvettes and other cars have done in the past, is one thing that is mostly on the highway not noticeable.

    2020-02-07 · Masters in Business · Hannah Elliott on All Things Automotive · IDENTIFIED FROM THE TRANSCRIPT · source