In the world of Ferrari, It's not enough to have money to buy the most exclusive models. Some customers have to wait years, sometimes decades, before being considered worthy of access to the rarest hypercars.
That's exactly what happened to Paul Bailey. The British collector, who now boasts an impressive collection of 89 cars, explains: it took him 22 years to reach the top of the famous “list”.
«You can't just walk into a dealership and buy a Ferrari like the F80. You have to be on the list. And it took me 22 years to get to the top.» A journey that perfectly illustrates Ferrari's strategy: build loyalty, observe, and reward the most committed customers.
A collection worth over 60 million euros
Today, Paul Bailey owns 89 cars, with an estimated value of over 60 million euros. But this figure is just a snapshot in time. As he himself points out, values can change overnight. His collection includes some of the most legendary Ferraris ever produced, including the Ferrari LaFerrarithe Ferrari Enzo or the Ferrari F50. In addition, there are equally iconic models from other manufacturers. «I don't have any cars in my collection that are just there to look pretty. Each one has a meaning.»
Owning the “Holy Trinity” of hypercars
Among his most notable achievements, Paul Bailey is one of the few collectors to have simultaneously owned all three of the most iconic hybrid hypercars of the early 2010s: the Ferrari LaFerrari, the McLaren P1 and the Porsche 918 Spyder.
«They arrived the same week. We picked up all three on the same day. It was an incredible experience, impossible to relive.» Unlike some collectors, he doesn't see these cars as objects to be kept under glass. His LaFerrari, for example, has clocked up over 23,000 miles (37,000 km), a significant figure for this type of model.
Buy Ferraris... so you can buy the others
One of the most interesting aspects of his testimony concerns the inner workings of Ferrari. To access the most exclusive models, you have to buy... lots of other Ferraris. Sometimes less desirable models. «You have to play the game. Buy the cars they offer, even if they're not the ones you really want.»
He admits that he has sometimes lost money on certain models, but sees it as a strategic investment. «I may have lost €70,000 on a Ferrari Roma, but behind, my F80 is worth a million more than its purchase price.»
Unlike many investors, Paul Bailey insists he doesn't buy cars to speculate. «I buy them because I like them. If their value doubles, great. If they go down, it makes no difference to me. And yet, the figures speak for themselves. After a revaluation of his collection, he estimates that he has generated over 14 million in profit on his cars. His reasoning is simple: some cars are both objects of passion... and assets.
The ultimate dream: a Ferrari 288 GTO
Despite an already outstanding collection, it still lacks an essential piece: the Ferrari 288 GTO. «It's the only one I miss in the line of mythical Ferraris. And I'm convinced that it will one day top the 100 million mark.»
Beyond the millions and the hypercars, Paul Bailey defends a simple idea: a car must be used. «Nobody knows what tomorrow will bring. If you're lucky enough to have a car you love, use it.»
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