Go Back   Club Lexus Forums > General Forums > Car Chat
Sign in using an external account
Register Forgot Password?

Can this be true? Jay Leno to sell his car collection (*** NOT TRUE ***)

Reply
 
 
 
 
Thread Tools Search this Thread Display Modes
Old 01-31-13, 07:56 AM   #1
My0gr81
Lead Lap
Trader Score: (0)
 
Join Date: Apr 2008
Location: Ontario
Posts: 652
Default Can this be true? Jay Leno to sell his car collection (*** NOT TRUE ***)

http://www.carbuzz.com/news/2012/4/1...heikh-7708127/

Quote:
Everything that has value can be bought.
In a report just coming in from a source, "The Tonight Show" host, gearhead, car collector, and all around good guy, Jay Leno is selling his massive car collection featured on "Jay Leno's Garage" to an unnamed Arab Sheikh for an undisclosed sum that's upwards of $1 billion. We knew the U.S. economy was bad, but we're hoping that didn't play any part in a decision to go through with the deal.
This ad is not displayed to registered members.
Register your free account today and become a member on Club Lexus!

Last edited by My0gr81; 01-31-13 at 08:24 AM.. Reason: I didn't check the date on the article. It was a link on a current story I was reading on another news site, so I assumed it to be current also.
My0gr81 is offline   Reply With Quote
Old 01-31-13, 08:19 AM   #2
bagwell
Lexus Fanatic
Trader Score: (0)
 
bagwell's Avatar
 
Join Date: Oct 2002
Location: back in crappy Houston :(
Posts: 7,558
Default

from April 1st 2012
__________________
2010 Acura TSX: 18 inch Gun Metal A-specs, Eibach Pro-Kit, Koni Yellow Shocks, 5000K OSRAM, LED everything
2010 Audi A5 2.0T Quattro, Sport Pkg w/19 inch, B&O, Bi-Xenon
bagwell is offline   Reply With Quote
Old 01-31-13, 08:20 AM   #3
pbm317
Lexus Champion
Trader Score: (0)
 
Join Date: Apr 2002
Location: Los Angeles, CA
Posts: 1,946
Send a message via AIM to pbm317
Default

Seeing as this article is dated from April of last year, and we have still yet to hear anything to confirm this, I would say it's false.
pbm317 is offline   Reply With Quote
Old 01-31-13, 08:23 AM   #4
My0gr81
Lead Lap
Trader Score: (0)
 
Join Date: Apr 2008
Location: Ontario
Posts: 652
Default

Quote:
Originally Posted by pbm317 View Post
Seeing as this article is dated from April of last year, and we have still yet to hear anything to confirm this, I would say it's false.
Hmmm! tbh, I didn't check the date on the article. It was a link on a current story I was reading on another news site, so I assumed it to be current also. I'll update the original post.
My0gr81 is offline   Reply With Quote
Old 01-31-13, 08:40 AM   #5
mmarshall
Lexus Fanatic
Trader Score: (0)
 
mmarshall's Avatar
 
Join Date: Oct 2003
Location: Virginia
Posts: 50,351
Default

I heard Letterman was interested in some of them.

(Just kidding)
__________________
mmarshall is offline   Reply With Quote
Old 01-31-13, 09:15 AM   #6
BNR34
Lexus Fanatic
Trader Score: (1)
 
Join Date: Oct 2002
Location: So Cal
Posts: 6,396
Default

Leno never sells anything, he said it himself: "I never sell anything, that's why he got so much stuff". He lives very frugal for how much he makes.

Every car he bought was bought at the best possible deal after it is depreciated to their lowest value, he never buy the latest and greatest and all his cars are the regular version that worth much less then their respective much rarer special edition. The few recent new cars he acquired (Jaguar XJ, Mclaren 12C), I am sure the maunfacturer either gave it to him for free or at a smoking deal because he is a celebrity that helps them promote.

I predict his car collection will turn into a museum like the petersen museum after he died. No one can ever buys them.

Last edited by BNR34; 01-31-13 at 09:46 AM..
BNR34 is offline   Reply With Quote
Old 01-31-13, 09:27 AM   #7
mmarshall
Lexus Fanatic
Trader Score: (0)
 
mmarshall's Avatar
 
Join Date: Oct 2003
Location: Virginia
Posts: 50,351
Default

Quote:
Originally Posted by BNR34 View Post
Leno never sells anything, he said it himself: "I never sell anything, that's why he got so much stuff". He lives very frugal for how much he makes.
True, his late-night TV show brings home the bacon, but it's got to cost a tidy sum to keep all of those cars, especially in high-tax/high-priced California. They have to be registered every year with high CA fees, gassed-up as they are driven (with expensive CA-grade fuel), all of the insurance-bills paid, property/car-taxes (if applicable) paid, servicing and repairs done as needed, periodic detailing (he probably pays to have that done), and all of the other daily auto-related expenses (tolls, inspections, etc.....) He probably spends more each year just maintaining those cars that most of us here on CAR CHAT make in total income.
__________________
mmarshall is offline   Reply With Quote
Old 01-31-13, 09:58 AM   #8
BNR34
Lexus Fanatic
Trader Score: (1)
 
Join Date: Oct 2002
Location: So Cal
Posts: 6,396
Default

Quote:
Originally Posted by mmarshall View Post
True, his late-night TV show brings home the bacon, but it's got to cost a tidy sum to keep all of those cars, especially in high-tax/high-priced California. They have to be registered every year with high CA fees, gassed-up as they are driven (with expensive CA-grade fuel), all of the insurance-bills paid, property/car-taxes (if applicable) paid, servicing and repairs done as needed, periodic detailing (he probably pays to have that done), and all of the other daily auto-related expenses (tolls, inspections, etc.....) He probably spends more each year just maintaining those cars that most of us here on CAR CHAT make in total income.
All his cars are bought used, so sales taxes are very low, if anything. Registation is very low on old cars that the DMV have no clue of their value. Gas is nothing as he can only drive one at a time. Insurance is nothing as he just got an umbrella policy that covers everything he got in a secure storage location, insurance rate is based on how much he drives the cars, again he can only drive one at a time, so 100 miles per year on each car. Or he doesn't buy insurance at all, his cash can cover himself. He got a team of mechanics and helper to maintain and clean his cars, not like he get rape at the stealer. He is a very knowledgeable car guy, so he is not buying $100 a quart oil in a Bugatti's bottle, he pay $1 a quart buying the same oil in bulk from Valvoline.

His expenses are pretty low compare to his income.
BNR34 is offline   Reply With Quote
Old 01-31-13, 10:13 AM   #9
mmarshall
Lexus Fanatic
Trader Score: (0)
 
mmarshall's Avatar
 
Join Date: Oct 2003
Location: Virginia
Posts: 50,351
Default

Quote:
Originally Posted by BNR34 View Post
All his cars are bought used, so sales taxes are very low, if anything. Registation is very low on old cars that the DMV have no clue of their value. Gas is nothing as he can only drive one at a time. Insurance is nothing as he just got an umbrella policy that covers everything he got in a secure storage location, insurance rate is based on how much he drives the cars, again he can only drive one at a time, so 100 miles per year on each car. Or he doesn't buy insurance at all, his cash can cover himself. He got a team of mechanics and helper to maintain and clean his cars, not like he get rape at the stealer. He is a very knowledgeable car guy, so he is not buying $100 a quart oil in a Bugatti's bottle, he pay $1 a quart buying the same oil in bulk from Valvoline.

His expenses are pretty low compare to his income.
You may (?) have a point about his income not needing insurance, but he still has to pay the people who service/maintain and detail his cars. True, gas, can only be used in one car at a time, but can't sit for too long in the tank without deteriorating. As far as putting ordinary OTC auto-parts-store oil in a Bugatti Veyron designed to go 250 MPH, that may or may not work...depending on how he drives it. That quad-turbo V16 creates enormous amounts of heat, though I doubt if he has ever personally taken it to its limits or maxed it out. TOP GEAR's Jeremy Clarkson did it once in a Veyron....but under different circumstances.
__________________
mmarshall is offline   Reply With Quote
Old 01-31-13, 11:45 AM   #10
BNR34
Lexus Fanatic
Trader Score: (1)
 
Join Date: Oct 2002
Location: So Cal
Posts: 6,396
Default

Quote:
Originally Posted by mmarshall View Post
You may (?) have a point about his income not needing insurance, but he still has to pay the people who service/maintain and detail his cars. True, gas, can only be used in one car at a time, but can't sit for too long in the tank without deteriorating. As far as putting ordinary OTC auto-parts-store oil in a Bugatti Veyron designed to go 250 MPH, that may or may not work...depending on how he drives it. That quad-turbo V16 creates enormous amounts of heat, though I doubt if he has ever personally taken it to its limits or maxed it out. TOP GEAR's Jeremy Clarkson did it once in a Veyron....but under different circumstances.
He employed like 5 guys at say $60k each. So $300k a year in salary, a lot of it could be tax deductible too for his show Jay Leno's garage.

Leno pulls in $20 millions a year.

If you are smart and know the necessary oil that each car required and buys it directly from the manufacturer, is way cheaper
BNR34 is offline   Reply With Quote
Old 01-31-13, 07:06 PM   #11
xioix
Lexus Champion
Trader Score: (0)
 
Join Date: Dec 2004
Location: so. cal
Posts: 1,708
Default

Quote:
Originally Posted by BNR34 View Post
All his cars are bought used, so sales taxes are very low, if anything. Registation is very low on old cars that the DMV have no clue of their value. Gas is nothing as he can only drive one at a time. Insurance is nothing as he just got an umbrella policy that covers everything he got in a secure storage location, insurance rate is based on how much he drives the cars, again he can only drive one at a time, so 100 miles per year on each car. Or he doesn't buy insurance at all, his cash can cover himself. He got a team of mechanics and helper to maintain and clean his cars, not like he get rape at the stealer. He is a very knowledgeable car guy, so he is not buying $100 a quart oil in a Bugatti's bottle, he pay $1 a quart buying the same oil in bulk from Valvoline.

His expenses are pretty low compare to his income.
He also gets cars from people looking to sell their cars to him at a low price because they know he will take care of it and not look to make a quick buck with it.

He has all that Tonight Show money building interest to keep his cars maintained and looked for forever. As he has not spent any of this Tonight Show money and only spends the money he earns doing stand up.
xioix is offline   Reply With Quote
Old 02-04-13, 01:44 PM   #12
BNR34
Lexus Fanatic
Trader Score: (1)
 
Join Date: Oct 2002
Location: So Cal
Posts: 6,396
Default

A lot of cars he got are really cool cars that are in bad shape and he fix them up in his shop at the lowest possible cost.

Like the old red gullwing he got, it is rusted with peeling paint and either missing the engine or the engine was blown, it wasn't running. He probably pay $200k for the car, towed it back and fix it himself. Instead of buying a mint fully restored one for $750k.

That's his personality too, is like rescuing dogs from the pound instead of buying a purebred.

Click the image to open in full size.
Click the image to open in full size.

Last edited by BNR34; 02-04-13 at 01:48 PM..
BNR34 is offline   Reply With Quote
Old 02-04-13, 01:55 PM   #13
I8ABMR
Lexus Fanatic
Trader Score: (0)
 
I8ABMR's Avatar
 
Join Date: Sep 2007
Location: Somewhere far far away
Posts: 19,157
Default

there is no way in hell. Short and sweet !!
__________________

2010 LEXUS ISF / F Sport rear Sway Bar / Michelin PSS

The ISF......The perfect car for an enthusiast. It can be driven to the track, run hard all day , and then transport me hundreds of miles to home in luxury and comfort to pick up the wife for dinner and a movie....
I8ABMR is offline   Reply With Quote
Old 02-04-13, 01:55 PM
 
 
 
 
Reply

Tags
2013, car, cars, collection, dies, garage, jay, leno, sale, sales, sell, selling, sells, sold, wash

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Jay Leno to return to TV with his own car show? mmarshall Car Chat 10 10-21-14 10:41 AM
2014 Cadillac ELR - Jay Leno's Garage bagwell Car Chat 4 01-22-14 10:45 AM
Video: Jay Leno Buys Then Drives McLaren P1 bagwell Car Chat 12 09-15-13 07:11 AM
Re-uploaded in High Definition: Jay Leno's Lexus LFA review 05RollaXRS LFA Model 1 08-18-12 05:22 PM

All times are GMT -7. The time now is 07:59 PM.

Join ClubLexus
Advertising


Copyright © 2000-2008 Internet Brands, Inc. All Rights Reserved
Privacy Policy | Disclaimer | Terms of Use | JOBS


Get all contact info