Seagrave Club falls into administration
28 October 2008

Autocar understands that the Segrave Club has called in the administrators.

The Club was one of a range of ‘timeshare’ supercar clubs, in which members buy the right for a certain amount of time in exotic cars. The Segrave boasts one of the most expensive garages in the business, including a Porsche Carrera GT and a Rolls-Royce Phantom.

Basic membership for the club starts at £16,000 a year, on top of a £5000 joining fee. It was opened in October last year with a high profile display in the Harrods department store and it is run by Nick Hancock, who founded the P1 Club with Damon Hill.

The company is understood to be in talks today to determine its future, but no official statement has been released.

 

 

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28 October 2008

I always wondered how the market would sustain more than a couple of super car clubs. It is unfortunately a luxury and one of the first things to be dropped by its clients in times of economic down turn.

Add to that the basis that these companies work on a cars retained value after a certain time and their ability to be able to turn over their stock, they were always going to face trouble in difficult financial times.

 

 

It's all about the twisties........

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