Mercedes-AMG Has Put The Brakes On Project One Speculators
Mercedes-AMG is imposing a minimum-term contract on buyers of the Project One hybrid hypercar in an effort to curb the undignified actions of speculators.
Speculators frequently sell build slots and freshly delivered cars for vast, unearned, profits, multiplying their wealth with every ultra-exclusive car they can place a deposit on quickly enough.
For example, a German car dealer outside the city of Bremen is advertising an Aston Martin Valkyrie build slot for €3.57 million (£3.18 million), at least £700,000 more than the original cost of the car – and possibly a lot more than that if the car was kept mostly standard.
Following in Ford’s controversial footsteps regarding its GT supercar, Mercedes will impose a contract upon buyers of its 1000bhp+ multi-motor hybrid, stipulating a minimum ownership period and specifically forbidding any kind of resale before that time has elapsed. Only 275 Project Ones are being built, with an engine derived directly from F1. The open market demand will be huge.
Ford’s contract has seen pro wrestler John Cena successfully pressured into paying damages, but another owner has seemingly been allowed to get away with it. Elsewhere, Porsche has already declared war on speculators. Perhaps we can look forward to a time when the profit-creamers are put out of business altogether.
Source: Motor Authority
Comments
staring at John Cena intensifies
Hey man, what you staring at over there?
Staring at what?
How can you stare at him if you can’t see him?
John Cena rage incoming
Cue th-JOHN CENAAAAA
TO TOO TO TOOOOO TO TOO TO TOOOOOO
Did that stop People flipping the Ford GT? Nope
Will this?
Probably not
We’ve only seen 2 people flip their GTs so far, everyone else seems to be respecting the contract, Mercedes just needs to make sure they’re selling it to the right people
mercedes won’t sell anu car for you if you flip it
Wait what breaks have they put on it? Brembos?
Multi motor hybrid?
Multi motor = hybrid
Flippers shouldn’t be considered Car Enthusiasts because they dont look at cars like these with Hearts for Eyes, they look at them with Dollar Signs for eyes, and thats disrespectful to the the Company, im all in for Mercedes following what Ford is doing, sue these greedy f**kers to the ground.
Idk how this would work in the USA because we have the free market system.
Btw, what happens if someone is in debt/bankruptcy? Are they allowed to sell the Project One because that would be in breach of the contract.
Nope, it can be repossessed though
Pretty sure, if you’re buying a Project One, you’re probably also gonna have 10-15 other Supercars that you can easily sell
It very much works in the us precisely because of that same liberal mindset : you can agree to pretty much anything in a contract.
Actually, the US are arguably the country where this types of contacts are used the most worldwide 💁♂️
I really do hate all this ‘cant sell the car until a certain time period has lapsed’ once someone has bought the car it’s there’s and can do whatever they want with it in my eyes.
Unpopular opinion I know but just how I see it.
Yeah I can’t say I haven’t looked at some new cars without thinking that I could easily flip one in a few years
( cough cough dodge demon )
How is that legal? If I buy a product, it’s my property and I can do with it whatever I want. Enjoy it, destroy it or sell it.
Yes and it’s their pride and work and imagine tge engineers putting all that hardworking effort for their ultimate track car to become a garage queen…..
By the same logic, if it’s your will to do so, you can limit your reach over your property via a contract. You are an able adult capable of agreeing or not to limiting your own property, which is basically what that contract entails. They are limiting your property right but only because you had the capacity to agree to that limitation. If you don’t like it, don’t sign the contract. Contract clauses like those are common in the professional world.
That’s not true. You can go buy a video game. It’s yours. But Steam doesn’t allow you to re-sell it. You can even get banned and no longer be able to use the product you purschased.