Ferrari's Elite "Big Five" Collection Hits the Auction Block with a $20M Price Tag

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Welcome to the 29th edition of the Maximalist! Dive into the ultimate guide, filled with insider insights into the world of fashion, art, real estate, travel, jewelry, and horology.

The world of luxury is never boring, and this week is no exception. Let’s dive in!

Markets

On this week’s agenda:

1. A Surge in Luxury Watch Thefts Shakes Consumer Trust

2. Ferrari's Elite "Big Five" Collection Hits the Auction Block with a $20M Price Tag

3. Lady A — Benetti's Latest Release

4. Fashionphile Expands Its Empire by Acquiring Pre-owned Luxury Distributor 2a

5. LVMH Ventures into Hollywood: A New Era for Luxury Brand Marketing

6. Four Seasons Unveils New Luxury Resort in Cabo's Golden Corridor

7. eBay's Strategic Expansion into Luxury Fashion Resale

A Surge in Luxury Watch Thefts Shakes Consumer Trust

The global luxury watch market is facing a significant challenge as thefts and losses of high-value timepieces have surged to an alarming £1.5 billion. The Watch Register, a leading watch crime prevention database, has reported a 236% increase in the registration of watches with unique serial numbers over the past year, signaling a dramatic rise in luxury watch crimes. This uptick in thefts is not only a concern for watch owners but is also eroding consumer confidence in the luxury watch market.

The Watch Register is advocating for a unified approach to combating this issue, urging insurers, auction houses, watch dealers, manufacturers, and law enforcement agencies to collaborate more closely. The organization emphasizes the need for a centralized global database to register lost and stolen watches, aiming to streamline the recovery process and deter the trade of stolen goods.

Currently, the existence of multiple fragmented watch registration databases complicates the situation, making it harder to track and recover stolen items. This fragmentation leads to confusion among traders and reduces the effectiveness of existing databases. Katya Hills, Managing Director at The Watch Register, highlights the challenges posed by this fragmentation and calls for industry-wide support for a single, internationally recognized database. Such a database would not only improve the chances of recovering stolen watches but also enhance due diligence across the market.

The Watch Register, backed by its parent company, the Art Loss Register, is equipped with sophisticated search algorithms and an experienced investigative team. This team is skilled in cross-border negotiations, which are crucial for reuniting watches with their rightful owners. The database plays a critical role in the pre-owned market, helping dealers, jewelers, pawnbrokers, and auction houses identify stolen watches before transactions.

With a specialist recovery team, The Watch Register actively searches for lost and stolen watches, successfully recovering an average of four watches daily. Remarkably, 50% of these watches are found within a year of being stolen, and 35% within six months. This concerted effort to secure and remove stolen watches from circulation is a testament to the organization's commitment to restoring confidence in the luxury watch market and safeguarding the interests of watch owners worldwide.

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Ferrari's Elite "Big Five" Collection Hits the Auction Block with a $20M Price Tag

In an extraordinary showcase of automotive excellence, RM Sotheby’s is set to auction the revered Ferrari "Big Five" as part of its DARE TO DREAM COLLECTION. This quintet represents the zenith of Ferrari's engineering prowess, tracing its lineage back to 1984 with the introduction of the 288 GTO. This supercar, equipped with a powerful twin-turbo V8 engine, marked Ferrari's resurgence in the high-performance car domain.

The collection progresses with the F40, unveiled to commemorate Ferrari's 40th anniversary, renowned for its radical design and unmatched driving experience powered by a formidable twin-turbo V8 engine. The F50 followed, a marvel of the '90s with a naturally aspirated V12 engine derived from Ferrari's F1 cars, blending racing technology with street legality.

Entering the new millennium, the Enzo was introduced, a tribute to the company's founder, integrating Formula 1 technology to achieve staggering performance metrics. The series culminates with the LaFerrari, unveiled in 2013, which redefined supercar benchmarks with its hybrid V12 powertrain, pushing the boundaries of automotive design and technology.

The collection, curated by RM Sotheby’s, features a 1985 288 GTO, a 1990 F40, a 1996 F50, a 2003 Enzo, and a 2015 LaFerrari. These models, ranging from the 288 GTO to the LaFerrari, embody significant leaps in engineering, solidifying the "Big Five" as the epitome of Ferrari’s rich heritage and its commitment to automotive excellence.

The auction highlights include a 1985 288 GTO, estimated to fetch up to $4,000,000 USD, and a 1990 F40, expected to reach up to $3,250,000 USD. A 1996 F50, with less than 13,000 miles, could realize up to $4,500,000 USD, while a 2003 Enzo and a 2015 LaFerrari are each estimated to sell for as much as $4,250,000 USD. Acquiring the entire Big Five collection could command a staggering $20,000,000 USD, offering collectors a rare opportunity to own a significant piece of Ferrari's storied legacy.

Lady A — Benetti's Latest Release

Benetti, the esteemed Italian luxury yacht manufacturer with a rich 150-year history, continues to set the standard for excellence and innovation in the yachting world. The shipyard's latest creation, the fully-custom superyacht Lady A (formally known as Project Rinascimento), is the pinnacle of luxury, merging timeless aesthetics with state-of-the-art design and functionality.

Constructed in Livorno and delivered in October 2023 to its owner, believed to be Saudi businessman Yasir bin Othman Al-Rumayyan, Lady A represents the culmination of Benetti's extensive experience and craftsmanship. Spanning 220 feet (67 meters) with a gross tonnage of 1,250 GT, this vessel was formerly known as Project Rinascimento. Envisioned by the renowned Giorgio M. Cassetta, Lady A’s design draws inspiration from the award-winning "Metis," showcasing the shipyard's commitment to quality, innovation, and exclusiveness.

Lady A captivates onlookers with its sleek, uninterrupted horizontal lines, sharp vertical bow, and streamlined hull, exuding an imposing presence on the water. The yacht features an extensive amount of teak across its six decks, embodying a classic yet high-design aesthetic.

The interior of Lady A is a realm of sophistication and unmatched luxury, designed in-house by Benetti. It features a harmonious blend of luxurious materials such as Curly Maple, black Macassar Ebony wood, Carrara White, and black Saint Laurent marbles. This exquisite combination, along with plush furnishings and high-design finishes, offers an unparalleled level of comfort and luxury to its guests.

With a beam of approximately 36 feet (10.8 meters), the yacht boasts spacious interior areas capable of accommodating up to 14 guests across seven staterooms, each outfitted with lavish furnishings and advanced entertainment systems. A dedicated crew of 19 ensures every need is met with the highest level of service.

Unique to Lady A is an entire deck reserved for the owner, featuring a full-beam master suite, private study, and ensuite bathrooms, providing a secluded haven of relaxation. The yacht's thoughtful layout also includes an elegant salon, VIP cabins, and guest quarters.

Designed to maximize onboard enjoyment, Lady A features a party deck with al-fresco areas, a large bar, and an expansive beach club equipped with a Hammam, bath, and shower. The sundeck, complete with a jacuzzi and sun pads, offers the perfect setting for relaxation and entertainment.

Lady A, powered by twin Caterpillar engines, boasts impressive performance capabilities, with a top speed of 16 knots, a cruising speed of 14 knots, and a range of 5,000 nautical miles. This remarkable vessel not only underscores Benetti's legacy of luxury yacht manufacturing but also sets a new benchmark for elegance and innovation on the seas.

Fashionphile Expands Its Empire by Acquiring Pre-owned Luxury Distributor 2a

Fashionphile, a leading resale platform known for its authenticated, pre-owned luxury goods, has recently announced the acquisition of the assets of Montreal-based Two Authenticators Inc. (2a), a distinguished wholesale distributor in the luxury vintage market. This strategic move marks a significant step in Fashionphile's efforts to broaden its business-to-business (B2B) wholesale offerings and enhance its omnichannel operations on a global scale.

Fred Mannella, co-founder and CEO of 2a, is set to join Fashionphile's executive team as the Senior Vice President of Wholesale, directly reporting to Ben Hemminger, Fashionphile's co-founder and CEO. This is not the first time Mannella has collaborated with Fashionphile; the relationship dates back to 2023, when Fashionphile acquired LXRandCO, Inc., another venture co-founded by Mannella.

The acquisition of 2a is poised to fortify Fashionphile's position in the secondhand luxury market, both in the United States and internationally. Ben Hemminger expressed his enthusiasm about the acquisition, highlighting the opportunity to diversify Fashionphile's operations and tap into the burgeoning market for secondhand luxury goods. With Mannella's expertise in luxury vintage items and his extensive network, Fashionphile aims to cater to a wider audience, providing authenticated, branded accessories to various sectors of the market.

Since its inception in 2021, 2a has played a pivotal role in supporting luxury vintage retail B2B operations in Canada and the U.S., boasting partnerships with over 20 entities across different channels. This acquisition by Fashionphile signifies a promising new chapter in the resale industry, promising to deliver trusted, high-quality secondhand luxury items to an ever-growing base of consumers looking for sustainable and affordable luxury options.

LVMH Ventures into Hollywood: A New Era for Luxury Brand Marketing

LVMH, the conglomerate behind iconic luxury brands such as Louis Vuitton, Moët Hennessy, Tiffany & Co., and Christian Dior, is making a strategic leap into the entertainment industry. The company announced the launch of 22 Montaigne Entertainment, a division created in partnership with Superconnector Studios, aimed at bolstering its marketing efforts through film, television, and audio content. This move signifies LVMH's commitment to enhancing brand visibility and relevance by tapping into the storytelling power of the entertainment sector.

The initiative is part of a growing trend among luxury brands exploring media ventures to amplify their market presence. For example, Saint Laurent, under its production arm, Saint Laurent Productions, has already made its mark with releases like Pedro Almodóvar’s “Strange Way of Life” and a tribute to Jean-Luc Godard. Similarly, Kering's CEO, Francois-Henri Pinault, has secured a majority stake in the Creative Artists Agency, further blurring the lines between fashion and film.

The impact of such media engagements on brand performance is undeniable. The release of “House of Gucci” is a case in point, triggering a 257% spike in demand for Gucci bags. This phenomenon underscores the effectiveness of integrating luxury brands with entertainment content, from traditional product placements to innovative marketing tie-ins with popular films and TV shows.

Moreover, the evolving landscape of entertainment consumption offers new opportunities for direct consumer engagement. A study by PYMNTS Intelligence highlights the potential for internet-connected buying experiences, where viewers can instantly purchase products seen in livestreamed content, indicating a future where entertainment and commerce are seamlessly integrated.

LVMH's foray into Hollywood is more than a marketing strategy; it represents a forward-thinking approach to engaging digital-first consumers. By leveraging the narrative power of film and television, LVMH is poised to redefine luxury marketing, making it an exciting time for both the entertainment industry and luxury brand enthusiasts.

Four Seasons Unveils New Luxury Resort in Cabo's Golden Corridor

Four Seasons Resort and Residences Cabo San Lucas at Cabo Del Sol, the latest addition to the Four Seasons portfolio, is now accepting reservations for stays beginning May 1, 2024. Nestled in the heart of Los Cabos' Golden Corridor, this new luxury resort community is set against the backdrop of a vibrant Riviera-style village, offering guests a blend of Mexican charm and modern luxury.

Antoine Chahwan, President of Hotel Operations for the Americas at Four Seasons, expressed excitement about expanding the brand's presence in Cabo San Lucas, a location long coveted for its dynamic vacation scene. This new resort complements the brand's existing property on the East Cape of Los Cabos, offering guests a unique Four Seasons experience infused with the hospitality and warmth synonymous with Mexico.

Inspired by Mexico's enchanting Pueblos Mágicos, the resort's design features a modern hacienda aesthetic that celebrates local craftsmanship, art, music, and cuisine. The resort boasts 96 guest rooms, casitas, suites, and villas, along with 61 residential units, all offering stunning views of the Sea of Cortez. The accommodations are designed with open, airy spaces, retractable glass doors, and private terraces, with many suites featuring private plunge pools and outdoor showers.

Conveniently located just 30 minutes from Los Cabos International Airport and 15 minutes from Cabo San Lucas International Airport, the resort is close to the area's renowned shopping, dining, nightlife, and sightseeing attractions.

Guests at the Four Seasons Resort Cabo San Lucas at Cabo Del Sol can enjoy a range of amenities, including a swimmable beach, three pools, three restaurants, five bars, an artisan art studio, a full-service spa and fitness center, an adventure center, a kids' club, local retail experiences, a wedding and event facility, and access to the award-winning Cabo Del Sol golf course.

The resort's central gathering place, La Casona, offers a welcoming atmosphere with a large fireplace, local artwork, and ocean views. Here, guests can experience La Buena Vida, or "the good life," where vibrant colors, music, art, and flavors come together to create a memorable Mexican experience. The resort's dining options include Palmerio, a Mediterranean-inspired restaurant; Coraluz, a barefoot beach club; and Cayao by Richard Sandoval, offering Peruvian Nikkei cuisine. Sora, an oceanfront rooftop lounge, provides the perfect setting for sunset cocktails.

General Manager Richard Raab highlights the resort's unique offerings, from its stunning location and luxurious accommodations to its culturally inspired programming and culinary adventures, all under the care of the Four Seasons team.

Reservations are now open for stays starting May 1, 2024. Additionally, selected villa accommodations will soon join the Four Seasons Private Retreats collection, offering residential-style living with the services of a dedicated villa host.

This new resort marks Four Seasons' second property on the Baja Peninsula, joining its sister property at Costa Palmas and expanding the brand's footprint in Mexico, which includes resorts in Tamarindo, Punta Mita, and Mexico City.

eBay's Strategic Expansion into Luxury Fashion Resale

eBay, traditionally known for its vast online marketplace, is making a significant push into the luxury fashion resale market. This move aims to carve out a larger share of a market that has seen exponential growth, with a global valuation of $49 billion in 2023. Unlike its earlier, more generalized approach, eBay is now focusing on authenticated consignment services for high-end fashion brands, including Gucci, Balenciaga, and Louis Vuitton, among others.

The company has introduced a process where luxury items are sent to eBay's authentication centers for a thorough verification process before being listed for sale. This approach not only ensures the authenticity of the items but also aids sellers with the listing process and provides buyers with confidence in their purchases. eBay's strategy includes offering higher commissions for consignment sellers, which increase with the value of the item sold, incentivizing the sale of higher-priced luxury goods.

Despite entering the luxury resale market after niche platforms like The RealReal and Vestiaire Collective, eBay's unparalleled scale and global reach give it a distinct advantage. With a gross merchandise volume of $73.2 billion in 2023 and a presence in 190 markets worldwide, eBay dwarfs its competitors in both size and scope. The company's recent expansion of its authentication service to include fine jewelry and the opening of a global authentication center in Tokyo further demonstrate its commitment to capturing the luxury resale market.

eBay's advantage lies not only in its size but also in its ability to attract organic traffic and engage customers across multiple categories, reducing customer acquisition costs and enhancing customer lifetime value. This broad appeal, combined with eBay's strategic focus on authenticated luxury goods, positions the company to make significant inroads into the luxury fashion resale market, challenging established players and redefining the landscape of luxury resale online.

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