Pejman Ghadimi
speaker
891 appearances
3 recordings
3 series
first heard Sep 2016
last heard 19 Jan
Pejman Ghadimi’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Jan 2026 with 1.
Appearances
and it can just keep going down and you don't even understand what's happening. But a watch is on your wrist. So it's opening doors as you meet people, you're getting into new peer groups, and you're making the same money you would in the market. And it's easier to trade in and out of without having to wait for bumps and dumps and anything else.
Terrible. So this is the big misconception in the world of cars. People believe that the revenue associated with cars has to be when you share them similar to Airbnb. And Turo makes that very easy. You can rent stuff. If you want to make money renting cars, buy Corvettes, put them on Turo. It's cheap. It's easy.
Buy a couple of ones, even if they've been salvaged, hit before, repaired, and put those on Turo. The amount of money that will come to rent that on a continuous basis and just keep giving you money, even if there's an accident there and there, the net positive will be better over time. It's a risky business because generally you have to have separate insurance.
You try to put it on people's insurance or tourist insurance, but there are very high limitations there when it comes to exotic cars, not so high on cheaper Corvettes and Audis and things like that. So if I was going to try to make money in the rental business on tour, I would never rent out an exotic. You have to understand that when an exotic gets hit in an accident, it's worth 20 to 25% less.
So, right.
the moment you throw your car and you're like oh yeah i made like five grand i didn't do anything because someone's work is done you don't think it's done and the money's gone so you want to avoid that at all costs and and one of the big misconceptions again when you're in a position to own something like that like generally own it you don't want to lend it to people like yeah i've never seen someone that's like i i've made enough money to buy mineral source and in order to pay for the payment i want to lend it to a complete stranger for two days
No, nobody wants to do that. Like nobody will do that. Like generally people that do that is they don't understand business and they only see business in a linear manner. That's like, well, if I buy the car and I have a 5K payment and then I rent it out for five days out of the 30 days, well, that's 5K, like my payment's paid off.
But they don't look at the liability, the asset costs, the issues with if they get kicked off tour or they don't cover the insurance. So they put themselves in a bad like financial position. And I would never, ever, ever tell people that renting their car is the way to minimize their expenses.
You can hold, like I have a very extensive personal watch collection and a very extensive personal car collection, very similar to Andy Frazella's collection. Like I have a lot of cars from Bugattis to like Porsches, rare, old, new. And one of the things that's really key is once you get through this process of buying and driving your cars, you obviously get richer in life.
Like you obviously make more money, you get 10 years older, you have more adult money, right? Then when you're in your 20s and your 30s, you have more serious money. You might build a business, things might change, or you might be in a position where, hey, for 10 years, you've done this strategy we talked about and you didn't actually waste money.
So even though you're making more money, you know, it keeps accumulating. And at some point it makes sense to switch from this idea of, hey, I'm going to drive a new car every two, three years and get in and out to I'd like to own two to three nice cars like a Porsche, a Ferrari and maybe like a Range Rover.
And you can start buying cars that historically go up in value every single year for the next 30 years. They'll never go down. And they won't always go up every single year like 2% or anything. But over a 10-year period, historically, they've never not gone up at least 10%, 15%. And there are bumps when they might go up 30%, 40% if it's a very rare car, depending on the type of car you buy.
And they don't have to be expensive. In the last, like, maybe two, three years, we've seen cars that were 100K go up to 250, 300 because they're becoming collectible and they're older and there's less of them on the market. Or suddenly a celebrity ends up buying a more vintage Ferrari. A lot of people are like, oh, that is a collectible car we never looked at. And there's only 10 left.
They quickly get off the market. Now they come back at double the price.
And the same articles were there about watches in 2020, 2021 and 2022. So that's a marketing strategy, but yeah.
Okay. So it's very true that the right handbags and particularly Hermes bags from the Kelly and the Birkin, not all sizes, but the majority of the smaller ones from 28 and down will typically be worth more than MSRP brand new. As soon as you buy them, usually two to three X, depending on the color, the leather and the styles.
And it's very true that with the price increases of luxuries, so like you've seen this over regarding tariffs, you've seen this over the last like three years because of the COVID and supply chain issues, you notice that generally speaking, like manufacturers will raise their prices because the cost of goods go up.
Well, that stabilizes the used market to basically not move or also move up with it. So if you had a bag that was two times MSRP, meaning that brand new came out for 14,000, but used was maybe 28,000 on top of that in profit, right? So it was basically selling for like 30 to 40 grand, right?
that bag, if the price increase of the bag goes from 14 to 16, will not go instead of being 30 to 40, will go like 33 to 43, you know, so it'll move up over time. So the cost of entry gets more expensive. And it's it's very true because bags are another asset class that hasn't depreciated over the last 10, 15 years.
But Hermes bags have gained popularity, but even pre-popularity were so scarce in certain colors that they end up being worth a lot of money on the secondary markets. Now, if you don't have the access to the list that Hermes to get a bag, you can still buy used bags at the right... Like they're used, but like brand new, meaning they're new in box, but they're not sold at the store.
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