by Mike Gulett –
I recently read that the 190 year old Swiss watch maker Jaeger-LeCoultre has started buying, refurbishing and reselling some of their classic watch models as The Collectibles.
Catherine Rénier, CEO of Jaeger-LeCoultre said,
We have everything to repair and restore these watches. We have made all the calibers of these watches in the exact same place where they were made. So, in a sense, they are coming home.
Photo compliments of Jaeger-LeCoultre
I find this interesting and it started me asking myself if some makers of classic cars should do this; like Lamborghini, Porsche and naturally Ferrari. Many of these car companies have set up an internal organization that will restore one of their classics and certify them as well, at a price of course. So if they go that far why not own them during the restoration and then sell them when done? The profit from this business model, I suspect, would exceed the profit from certification and restoration. The resale price of these cars would likely set the record for the model.
Jaeger-LeCoultre is offering just a select few of their classic watch models like this. One industry expert said he did not think this would be big business for Jaeger-LeCoultre but it sends a powerful message to their customers that their new watches will become more valuable and they could become family heirlooms.
Photo compliments of Jaeger-LeCoultre
Do the leading exotic car makers need this extra boost to their image? Maybe some do not but maybe some do. Aston Martin might benefit more that Ferrari from this business model.
Imagine if you could go to Lamborghini and buy a Miura fully restored to as new and it comes with historical documentation not only of the restoration but also of when it was first built. How much would that be worth to a serious collector?
I know that Aston Martin has made continuation models of the DB4GT Zagato and other models from that era but wouldn’t an original fully restored to perfection by the factory be even more special?
Let us know what you think in the Comments.
The author’s Jaeger-LeCoultre Master Geographic bought new around 1996 – photo by Mike Gulett.
Didn’t Jaguar build a few aluminum XKEs to complete the originally planned allotment?
Yes Jaguar made a few continuation models.
Didn’t Toyota restore some early 240s about 20 years ago.
Richard,
I am not aware of that – maybe some one can send some information about this?
Here are a couple older articles on Nissan’s 240Z factory restoration program. It didn’t seem to have had financial viability. I did see one of them at a car show I was judging 6-7 years ago and it was a pretty impressive piece of work.
https://jalopnik.com/what-happened-to-all-the-datsun-240zs-nissan-restored-i-1583370936
https://www.thedrive.com/news/29086/factory-commissioned-1972-datsun-240z-restoration-sells-for-over-100000-at-auction
Thank you Robert – very interesting.
Thanks, Robert, I was in a hypnogogic state when I posted. Of course, it was Nissan/Datsun and not Toyota.
The biggest mistake DATSUN made was changing its name to Nissan ! Absolutely no connection to the loyalty established in the USA market. I worked across the street from a very successful Datsun dealership in Tampa during the late 60’s early 70’s. They sold everything at MSRP and the customers were happy to pay it. I on the other hand had to sell the American brand at just above cost. Datsun had built an incredible reputation of low cost and decent quality, far above the domestics. That mistake has haunted the brand ever since.
Totally agree. I purchased a 1968 DATSUN 1600 in 1969 in Ft. Lauderdale and could never understand why they ditched their name. I’m still miffed by it, haha.
The Aston Martin Works regularly restores, certifies, and refits cars for its owners, as does Mercedes Benz in Germany, as part of their Heritage Programs. Glenn in Brooklyn, NY.
As does Ferrari but that is different than the original manufacturer buying the car, restoring it and then selling it on.
I believe Mercedes has or had a restoration facilitie for the gull wings. One issue you may want to consider is that although these cars were classics now and worth money, some of those cars were very poorly built as they wer never considered to be a classis when made, and with the over restoration of vehicles these days there will be a need to have a standard set as to what is correct.