Misconceptions about driving a Ferrari

It has nothing to do with offending people. It has to do with common business sense and saving yourself money, and/or earning more. It's like going on vacation to a poorer country and bargaining. Do you think it helps when you're trying to bargain for something and they see you're a white dude with a fancy camera? Your skin might as well be fine Italian leather and your birth certificate might as well say Maranello.

And no, you don't take clients to McDonald's, you just take them to a normal, casual and good restaurant like any normal person would do. If you take me to a $1000/person dinner and order a $500 bottle of wine I'll probably just roll my eyes and think you're an idiot, whether fine dining and fine wine are your passion in life or not. For one, I don't even like going to fancy restaurants, and two, the best wine in the world tastes worst to me than a glass of tap water from my house. I'll just think you're trying hard to impress me because I know that even billionaires love normal food and cheap beer too.

And yes, being perceived as wasteful or making poor financial decisions can leave a very negative business impression. I don't care if Ferraris are your passion. If you make $80K/year and I think you blew your entire life savings on driving a Ferrari, I'll think less of your decision making skills and possibly consider you very irresponsible. And if there are plenty of other consultants out there, I'll go with ones with good resumes and more common sense.

When it comes to business, there is more to it than just someone's resume.

 

I get really uncomfortable everytime my more-vocal european partners always introduce me as "the guy with many exotic cars" to strangers (business related or not). It has gotten so bad to a point that I would meet random business associates who know a guy who knows a guy who knows me and my cars and they would sometimes crack jokes about how much I make money selling drugs on the side, even though they don't really know me all that well. I go everywhere in my Toyota...

 

Ultimately do what you like. I would stay low key in business environments. I had many situations that talk about cars during meetings and very tempting but avoid. Meet your one guy off site...

 

Wimps?
It's simply a matter of taste and a little bit of intelligence. "My house, my car, my boat"; these discussions I hate even in private, to demonstrate this "look at me I'm successful" attitude in the business is just stupid.
And yes, I go further in the suit to the customer, although I like more comfortable clothes.

 

I suspect this is why brands like Porsche do so well. I love my 991 Turbo S which I can drive to any work thing without any sense of showboating. My new 488 is only 80 grand more expensive and likely slower (I pick up this week so I'll leave a review of my thoughts) Its probably part of the reason many of these cars sit in the garage so much and have little miles.

OF course its plain silly to say "who cares --do what you want" IF you are retired then sure or if you work in an industry where it helps to stand out--ie the Jay Leno or celebrity reference-then it probably helps your career to drive exotics and get your photo taken driving around Beverly Hills etc. For essentially everyone else with a normal high paying career, its bad taste.

 

My uncle had made his millions in the restaurant business. This was back in the 1980's. Everyone one in town new he had money and was very generous to the church and other charities. He had a very large house on over 40 acres but it was well hidden up on a hill.
I asked him one day why he doesn't drive a nicer, more fancy car. He always drove a teal green Lincoln town car. He said he couldn't drive a car like that since he was paying his General managers $30k/yr. It wouldn't look good and he would have to pay them more. I still remember that to this day. I never drive any of my exotic cars to the office. They don't even known I own them. I'd love to drive it on a Friday and take the top down for the drive home but I just don't do it. It's just the way it has to be.

 

Sad but true. Nothing good comes from sharing your Fcar information with those within your business. Some years ago I mistakenly mentioned, to the anesthetist that worked for us for many years, that I went for a FCA drive with my wife over the weekend. The following week, the anesthetist presented our office with a "new" fee sheet significantly raising her anesthesia prices. She obviously felt something that made her decide to instantly raise her prices even though she had no idea how much my Ferrari was worth.

 

One more bit; we had a Porsche Panamera for the family, same price as our Tesla; but for whatever reason; kids and friends would say; oh they have that Porsche...but Tesla is more acceptable...agreed on all the commentary on staying conservative. I like wearing a nice (doesn't have to be expensive) suit or clothes is a must.

 

Truly, respectfully , your posts reflect a very parochial view. At the end of what might become a lecture entitled "common sense", why "risk" complicating an initial meeting with potential clients , if you are growing a business?. No downside to being humble. I was fortunate to retire early, now "earn money" more for fun than necessity (still like playing the "game"), and still drive a different car when meeting people of lesser means, until we understand one another. With rare exception, i.e. where status gets you the seat at the head of the table, etc., flaunting wealth of any kind is unnecessary and , imo, too often either disrespectful and/or alienating. Best

 

People are gonna think and say what they want. I didn't buy my car to look at , I bought it to drive. 6k miles last year. You may think you can hide it from the employees but some one one is eventually going to see you driving it sometime. Then what ? I'm not advocating tell everyone but to me just enjoy the fruits of your hard labor and let the chips fall where they may. Life is too short and I don't want to leave this planet with a low mileage Fcar.

 

I never talk about my cars in any setting. No good comes of potentially making someone envious.

 

As I said earlier in this thread, keeping this appointment would be the worst thing you could do and might even result in losing your job...especially as you've pointed out that your company has explicitly asked you to stop driving the Spider *and* they're in the middle of contract negotiations. Exactly what I warned about. Proceed at your own peril.

 

I find making assumptions about people often leads to the wrong conclusion, particularly when you know none of the facts.

I certainly don't drive my F car to see clients - in fact I don't drive to them at all as they are all central London based and over 100miles from my office, the train takes the strain. My clients NEVER visit my office.

 

As a rule, nobody knows about my Ferrari besides close family and non-judging friends. Nobody at work, no clients, etc. For sure, I am positive, everybody changes their thinking of you when they know you own a Ferrari. It's crazy, we live in a big house and we have nice things...but the second you get a Ferrari, people's perceptions change. It's crazy, really. But, perception is reality and we all need to be aware. I did the math the other day. Give or take, we Ferrari owners represent only 0.0025% of the population...assuming each Ferrari owner only owned one Ferrari. Given some own multiple, that percentage is actually lower!

Interestingly, these same people that think Ferrari's are expensive would have no problem with one of us owning a sailboat...which can easily exceed the amount of a Ferrari. People have no clue how to value things. Lastly, this goes to show the marketing power Ferrari has had. Their perceived value is very high.

 

there's a time and place for it. business environments are generally not that place, but they can be if done humbly.

there is also a lot of not-baggage-at-all. in my last business, i was egging on many of the other exec's to get an f-car (mind you two other execs had them also). So this one guy starts asking why he would ever buy an f-car. he droned on about exactly this issue here ('cant drive it regularly, have to worry about the roads, insurance, doesn't do anything better to get from point a to b than this crappy lexus, etc.') then he concluded with something like "i wouldn't want people to look at me that way".

and that's where he clearly didn't get it. i can't think of the last time i had my car out and was driving around and had people being mean or grumping or whatever. instead, i see them smiling. especially the kids. it's like a smile machine on wheels. you're spreading happiness.

anyway, as with all things in business, know your audience. some clients may invite you out and it may help to build confidence with them. on others, it might have the opposite effect. the line of business you're in is also going to make a difference.

 

Your statements confused me. but nothing personal intended. I believe we all agree to use discretion regards showing wealth. Best

"I am not embarrassed to own and drive it when ever I want".

"I certainly don't drive my F car to see clients"

 

I can't agree with you more. I come from an Asian Indian background where I was brought up to respect everyone and watch what I say and do and not offend anyone. My wife and I did the best we could with our ability but interestingly, the other side (family & friends) were always happy with us as long as we were not as successful as they were or wish they were. However, once we became more successful to them (whether it was financially or academically), their tune suddenly changed especially after 2008-2009. It was at that time, my wife and I decided to focus on our children and our lives and stop doing things to make everyone else happy.

I am a successful physician and own 2 F-cars and a Continental GT and drive them all to my office and hospital. Life is short and why shouldn't I be allowed to enjoy the fruits of my labor. If my colleagues, family, or someone has an issue with it they'll have to figure out a way to adapt to it. In my business, I'm reminded everyday how life is short and we shouldn't waste time and energy on the things that don't matter in life. Do what makes you happy and don't regret it. For me, driving my 458 brings me tremendous joy and I do it as much as possible since I never know what tomorrow will bring.

 

I believe the statements are consistent.

I tend to agree in general with the thoughts of most that creating the right working environment with clients is extremely important but where I seem to differ with most is that I am happy that there are times when driving to work is acceptable - basically when it is justified by the chance to slip out for a drive, no more, no less, just the chance to drive. My staff know how well the company is doing, they know I am passionate about cars and that I own a Ferrari and I wouldn't want to insult there intelligence by hiding it. I live near work, as do my staff and if I hid my Ferrari ownership it would simply mean never driving the car and then what is the point of owning it. I would add that like most I never offer any unsolicited information about my F car ownership to anyone unless I think they are just as passionate. I am equally passionate about watches, I do wear expensive watches but again would never discuss them openly and they live out of site up my sleeve - I wear them for MY enjoyment.

 

YOU NAILED IT. NEVER been ashamed of success and if people can't handle it thats their problem. The problem we have in society is everyone wants the accoutrements of success without working for them. A smart man looks at a successful person and says " I'm going to figure out how to get there". A stupid man looks at it and says "rich bastard stole the money to get that and I should have it instead".

 

Rich Americans have a new mental disease. "Wealth Guilt Syndrome".

Yes, I'm wealthy but I sure feel bad about it.

And heaven forbid if someone else finds out! They may not like me!

 

Why stop at cars? How about your home or your office or family or your latest vacation?

Can any good come of it?

Now, let me take on this rather silly analogy of a Plumber driving up in an F12. Ok, let's say he does.

I'm not stupid. I know what he's going to charge before he does the job. I know what his competitor's charge. I've already researched him or his company to see if he's qualified and has a fair price. I'm not giving the guy a blank check and say "here's my leaking toilet. Just right in what you want when you're done".

Why would the car do anything to change anything I've already learned about the guy other than --- he has some pretty good taste in a company car?

 

I don't disagree that some feel guilty. You ignore increasing irrationality.

An increasingly less educated and knowledgeable society eliminates dialogue and encourages violence. It is not a matter of being PC that concerns me, it is a matter of the safety of you and the rest of us. I am not paranoid or necessarily frightened, as much as aware that too many people are acting irrationally . I don't debate with strangers, not because I dislike them, but because I have no idea who I am dealing with. As I posted in another thread, my view of today is as follows:


The Greeks coined the term Democracy meaning “rule by the people,” As good as it is and arguably the best form of governance, a democracy is difficult to maintain. The Isle of Man may lay claim to the longest lasting democracy (established circa 970 ad), but most, primarily because of size of their population, become a Republic with representatives who soon serve themselves first and the people second. Within the Republic, individuals rise to power influencing the rest, devolving into an Oligarchy. In this context the economic theory referred to as the Tragedy of the Commons becomes apparent. It is characterized by individuals acting selfishly, but rationally, at the expense of the common good and survival. Eventually and inevitably we use up resources and force a battle for survival.

For most of our history, the U.S. population and that of Europe, maybe others, believed they could achieve "success". Today, for too many, the "dream" is gone and instead of admiring those who have succeeded they begrudge them their fortune, believing it could only have come from ill gotten gains.

The U.S. has a $20 trillion debt, obligating its finances to entitlement support and debt. With 47 million on welfare, job stagnation, and young people with no hope but for the government to care for them (explaining the support for Bernie Sanders), it would appear a cataclysmic change is not far away. Best