Luxury market changing?

What you must realize, the gentleman confided, is that the person buying a new Rolls-Royce already owns several other cars, maybe a BMW 7 Series, a Ferrari and a Mercedes SUV. He or she is not looking for an all-purpose vehicle.

That's why, according to R-R communications manager Graham Biggs, a select group of customers will continue to spend $500,000 or more for the pleasure and prestige of owning a Phantom either in standard or long-wheelbase edition.

However, things are changing in the super luxury world.

Biggs says 95 per cent of Rolls-Royce owners now drive themselves, compared to 50 per cent 20 or 30 years ago.

And they're driving more — 10,000 km a year, up from 4,000.

Finally, the average age of a Rolls-Royce owner has dropped from 65 to 55.

Full article here

dotuno - 1/27/2006 5:15:01 PM

+1 Boost

I have to totally disagree with Jovi's comments. A car brand does not go down because rappers and stars can afford it. The truth is, most rappers and stars can afford any car. Sure, back in the day, only elites like oil magnates, royalty, et al bought these cars, but back then rappers, athletes and movie stars didn't make the ridiculous millions they do today. The simple truth is, these people are now among the major buyers of elite cars, and from all brands not just RR (Bentleys appear in music videos too, you know). I agree it's rather disgusting to see a RR or Bugatti all tricked out with excess chrome and spinners (which BTW I hate on any car), but no matter how styled, expensive or exclusive, whoever can buy will buy. As for the snooty neighbourhoods, though I'm not familiar with their ways, I want to assume that a celebrity who drops the entire dough to buy a house at one go will not be denied even without "connections" (denial could be considered discriminatory). And if they still do, their loss.