prices

Slow Economy, Fast Cars: Speculation Drives Up the Price of the Pagani Zonda

Filed under: Luxury Cars & Autos, Wealth

You'd be forgiven for thinking that the values on exotic supercars have tanked as a result of the weakened economy. You'd be forgiven, but you'd be wrong, at least in the case of the Pagani Zonda. The rare supercar is built in extremely limited quantities at a dedicated factory in the Mecca of sportscars: Modena, Italy. Supply is so limited that demand is driving prices through the roof even with the global economy in shambles. The company itself has increased the price of its rare supercar dramatically over the years, however used examples are selling for even more: the original C12 listed at £200k but is now worth £350k, the latest Zonda F retails for £470k if you're on the waiting list, but if you want one now, be prepared to spend closer to £1 million, while the track-focused Zonda R is priced at £1.4 million before deliveries have even begun. That kind of speculation is common in the best of times, but even today, with Wall Street burning, those who have the money are seeing the Pagani Zonda as a more reliable, tangible investment than the usual channels.

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Tags: pagani, pagani zonda, PaganiZonda, prices, speculation, supercar, supercar prices, SupercarPrices, values, zonda

Plaza Sets A New York Record

by Deidre Woollard (RSS feed) —

Filed under: Estates

When I first started hearing about the plans to turn the Plaza Hotel into condos, the predictions that records would be set began to be bandied about. Now it looks that it has come to pass. The New York Observer is reporting that an apartment at the recently redone Plaza Hotel has gone to contract for at least $50 million, making it the biggest apartment sale in New York City. The Plaza will also be home to real estate kingpin Harry Macklowe, Bear Stearns C.E.O. James Cayne, race-car mogul Flavio Briatore, Tommy Hilfiger and Jocelyn Wildenstein. The big question is who is the buyer.

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Tags: apartments, housing, new york, NewYork, plaza, prices, real estate

Why Real Estate Is A Good Investment

by Nicole Weston (RSS feed) —

Filed under: Estates

There are entire books written on the subject of what makes real estate a good investment, so we won't go into that here. Instead, we will simply give you an example of exactly how good it can be.

Seven years ago, 10 large, but run-down and abandoned, homes on Hampstead Road, North Benwell, Newcastle were put on the market for 50p. The area was a bit on the unsavory side (to say the least) at the time, but with a deal sweetened by a £26,000 grant, young families were moved in in no time at all. Today, the homes are all valued at over £145,000 ($280,000) - a 290,000% increase! With three stories, large and spacious rooms and up to five bedrooms per unit, it only seems like the value in the properties will be going up for the families who are staying, but you have to admit that those who are selling up now have done pretty well!

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Tags: britain, england, investment, price, prices, real estate, RealEstate

From the Airport to the Hotel...

by Nicole Weston (RSS feed) —

Filed under: Luxury Travel & Hotels

In today's Wall Street Journal, there is an interesting blurb on prices around the world, comparing the rate for the same service in different locations. In this case, the service is a one-way private transfer from an airport to a luxury hotel, as booked through that hotel or their concierge. All the prices have been converted to US dollars and the difference in various markets is quite surprising, especially since the distance being considered was that of a very central location. As a starting point, the cost in New York was $167 per person. In Manila, the transfer was a mere $42, while it was $74 in Sydney and $100 in Hong Kong. The three locations more expensive than New York were London, at $171, Paris at $170 and Tokyo, at an almost shocking $382. It's enough to make you think twice about arranging your own transportation. After all, it certainly couldn't be much more expensive and by calling around, you might even be able to arrange nicer transportation.

Tags: airport, global, globe, hotel, international, international travel, limo, prices, shuttle, towncar, transportation