The Average American Ferrari Buyer Is 47 Years Old; In China - Only 32

Tyler Durden's picture




 

In China, 9 out of 10 billionaires are self-made, the highest percentage of any country (and by self-made we are unsure whether BusinessWeek's Christina Larson means via entrepreurial spirits or government connected handout) but there is another fact that makes the Chinese billionaire different from the rest of the average run-of-the-mill billionaires we discussed here. The average age of the country’s 157 billionaires is 53 years old - nine years younger than the world average. But perhaps the most shocking statistic among the luxury buyer is that the average Ferrari buyer in the U.S. is 47 years old; in China, he is 32.

 

Here's how the wealth - among the families of Communist China’s “Eight Immortals” - has been grealt rotated and grown among them...

 

As Bloomberg BusinessWeek notes,

To be sure, self-made fortunes aren’t always made cleanly in China, as Bloomberg News documented in a 2012 investigative series on the extreme wealth of China’s leading political families, “Revolution to Riches.”

It’s no surprise, given the deep intertwinement of money and political power in China, that Beijing is home to the country’s highest number of billionaires, with 26. That’s followed by Shanghai, with 19 billionaires, and Shenzhen with 16. The UBS study calculates the combined net worth of China’s billionaires to be $384 billion, roughly equivalent to the entire annual gross domestic product of South Africa in 2012.

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Mon, 11/25/2013 - 13:58 | 4188206 Dear Infinity
Dear Infinity's picture

Word on the street is uber wealthy Chinese people are trying to buy Bitcoins with cash out of the sight of the exchanges. The culture of luxury combined with the ample paper wealth is driving large-scale purchases behind closed doors. Can you imagine all those leather bound brief cases filled with yuan? Somehow I think Bernanke is jealous... "You didn't print that!"

BTC:GOLD ratio = 1.567

BTC:SILVER ratio = 0.025

Mon, 11/25/2013 - 14:00 | 4188218 DoChenRollingBearing
DoChenRollingBearing's picture

That ounce.me website is a nice quick & clean way to check prices of many things I keep track of.  Especially nice is the 10-Year bond yield, which is not as easy to find at any sites with gold, BTC, platinum prices, etc.

Mon, 11/25/2013 - 14:13 | 4188256 knukles
knukles's picture

Regardless of nationality or age, the average Ferrari buyer I've ever met are immature insecure ego-maniacal unpleasant self centered and anally retentive....

Mon, 11/25/2013 - 14:18 | 4188274 ACP
ACP's picture

ie cocksuckers

Mon, 11/25/2013 - 15:12 | 4188446 ZerOhead
ZerOhead's picture

Italian Ferrari = Chinese penis extender

And since China is a HUGE market of small players I'm going long Ferrari...

Mon, 11/25/2013 - 15:21 | 4188483 James_Cole
James_Cole's picture

In China, 9 out of 10 billionaires are self-made

rotfl

Mon, 11/25/2013 - 18:34 | 4189059 putaipan
putaipan's picture

kinky tom kinky tom he just sold the dog....

https://www.youtube.com/watch?v=L0DNBIipaKs

gotta wait about 20 seconds for the translation to kick in

Mon, 11/25/2013 - 14:23 | 4188290 RafterManFMJ
RafterManFMJ's picture

Damn, I'm so poor I've never even met a Ferrari owner.  I know a guy that bought a new Ford F150, though.

Mon, 11/25/2013 - 14:52 | 4188360 TheGardener
TheGardener's picture

"Only a young healthy man makes a sports car look cool."

Some gay fashion designer who`s name is just eluding me...

Mon, 11/25/2013 - 14:59 | 4188409 Ignatius
Ignatius's picture

I don't know.  A geezer with the top down and a french cap can bring a smile.

Mon, 11/25/2013 - 15:10 | 4188451 RafterManFMJ
RafterManFMJ's picture

A beret? The kind you find in a second-hand store?

Mon, 11/25/2013 - 15:12 | 4188461 The Big Ching-aso
The Big Ching-aso's picture

Human sacrifice! Italians and Chinese driving together! Mass hysteria!

Ghost City Busters

Mon, 11/25/2013 - 16:34 | 4188693 Dr Benway
Dr Benway's picture

A raspberry soufflé

Mon, 11/25/2013 - 16:11 | 4188616 Freddie
Freddie's picture

You met my neighbor with the 458. 

Mon, 11/25/2013 - 14:17 | 4188249 Running On Bing...
Running On Bingo Fuel's picture

Word on the street: "FUCK YOU"!

Read this:

The short path we found (which is depicted in Figure 6) suggests (but does not prove) the existence of a surprising link between the two mysterious figures of the Bitcoin community, Satoshi Nakamoto and DPR. It is reasonable to assume that all the accounts described along the top of Figure 6 belong to the same person, but to be on the safe side we refer to him as a “Founder” rather than as Satoshi Nakamoto. We are sure that analyzing this figure will start a very vigorous debate in the Bitcoin community.

http://cryptome.org/2013/11/bitcoin-pirate-nakamoto.pdf

So much for your anonymity argument. BitCON.

Over.

Mon, 11/25/2013 - 15:39 | 4188527 Dr Benway
Dr Benway's picture

Thanks for posting this, very interesting article.

Mon, 11/25/2013 - 20:27 | 4189323 Running On Bing...
Running On Bingo Fuel's picture

Lol. It's real suspicious. I think it's him, or someone very, very close to him.

Over.

Mon, 11/25/2013 - 14:16 | 4188271 azzhatter
azzhatter's picture

Self made Chinese? Hahahaha- All of the newly wealthy Chinese are sons, daughters of government officials or connected to the regime. Coming to a country very near you soon

Mon, 11/25/2013 - 14:32 | 4188315 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

Amen AH! This is cronyism to the core. Don't give me that self-made wealth BS. Next you are going to tell me that the Fed is self-made wealth!

Mon, 11/25/2013 - 15:00 | 4188412 Running On Bing...
Running On Bingo Fuel's picture

Total BULLSHIT. Your argument cannot be proven by most US citizens, but it's bullshit.

Over.

Mon, 11/25/2013 - 15:04 | 4188427 ACP
ACP's picture

Coming soon? Look at the useless Pelosi daughter. A complete loser by any standard, which makes her eligible to be a CA senator.

Got the same crazy eyes too.

Mon, 11/25/2013 - 13:58 | 4188210 DoChenRollingBearing
DoChenRollingBearing's picture

An oligarchy in China (the Immortals)  is one more sign of big problems there, with more to come.  Bad demographics, terrible environmental problems.  Big & obscure debts.

America (and even Japan) does not need to worry about China as long as our diplomacy is adroit and not threatening.

Mon, 11/25/2013 - 14:14 | 4188261 Big Brother
Big Brother's picture

What good are all those billions if you and your fellow citizens have significant bioaccumulations of Cadmium, Nickel, Hexavalent Chromium, Lead, etc in your system; not to mention the particulate size in the air quality is large enough to chew?  Neither you nor the next seven generations will get to enjoy it. 

Mon, 11/25/2013 - 15:06 | 4188432 walküre
walküre's picture

The Chinese elite is buying up US Westcoast real estate because they know, their own soils are fucked beyond repair. In the meantime they keep raking it in over there and the families enjoy a healthier lifestyle from Vancouver (Canada) to San Diego. Lots of 'em in Toronto and New York as well. They bring ponzi yuan of unqualified origin and we sell them land and mansions. That's what Mao was all about.

Mon, 11/25/2013 - 14:15 | 4188262 Big Brother
Big Brother's picture

What good are all those billions if you and your fellow citizens have significant bioaccumulations of Cadmium, Nickel, Hexavalent Chromium, Lead, etc in your system; not to mention the particulate size in the air quality is large enough to chew?  Neither you nor the next seven generations will get to enjoy it. 

Mon, 11/25/2013 - 15:20 | 4188471 TheGardener
TheGardener's picture

Their next seven generations will get to enjoy their mutations and poison you just with a despising bitter look as you pass by.

Mon, 11/25/2013 - 14:15 | 4188267 NihilistZero
NihilistZero's picture

In China, 9 out of 10 billionaires are self-made

Since when did getting gifted a factory and contracts from a communist politburo make you a "self made" anything???

Mon, 11/25/2013 - 14:26 | 4188295 ncdirtdigger
ncdirtdigger's picture

Clearly the definition of 'self made' here is having not killed off your father to 'inherit' his wealth, but rather having killed off millions of your countrymen with pollution.

Mon, 11/25/2013 - 15:04 | 4188418 TheGardener
TheGardener's picture

Unlike the ethnically succinct oligarchy in Russia you can be sure a lot of heads with the supposedly wrong twist will be chopped off in China and defamation will only be with the condemned.

Mon, 11/25/2013 - 13:57 | 4188211 SeanJKerrigan
SeanJKerrigan's picture

There's no accounting for good taste it would seem.

Mon, 11/25/2013 - 14:04 | 4188223 What you talkin...
What you talkin about Willis's picture

Where in the fuck in China will you be able to get that thing over 30 mph without being stuck in traffic?

Mon, 11/25/2013 - 14:04 | 4188225 robertocarlos
robertocarlos's picture

Ferraris are not very good cars.

Mon, 11/25/2013 - 14:15 | 4188260 oddjob
oddjob's picture

They are a great source of revenue if you own a roll deck wrecker.

Mon, 11/25/2013 - 14:15 | 4188263 Spitzer
Spitzer's picture

Yep. They have the romantic WOP name and all but that's about it. The things catch on fire for no reason almost weekly.I wouldn't own one with at least one 20 pound fire extinguisher on board.

http://www.wreckedexotics.com/newphotos/exotics2013nov04/index.shtml

 

Funny how the Corvette ZR1 has the best record of any production car on Leguna Seca. Faster then anything Mclaren or Ferrari. And the Dodge Viper ACR has the fastest lap time on Nuremburing in Germany.

Mon, 11/25/2013 - 15:30 | 4188506 Variance Doc
Variance Doc's picture

"And the Dodge Viper ACR has the fastest lap time on Nuremburing in Germany."

Not even close.  Check your facts.  Stefan Bellof set the record for fastest lap time at 6 minutes and 25.91 seconds, which remains the official record to this day.  He did that in a Porsche 956.  Watch a video of that - there is a man and machine at the edge.

And Nuremburg is an entirely different city in Germany.  You mean Nurburgring in the Eifel mountains.

http://nurburgringlaptimes.com/the-track/nurburgring-legends/stefan-bellof/

Mon, 11/25/2013 - 22:29 | 4189536 post turtle saver
post turtle saver's picture

it's so easy to make a C6 ZR1 track ready and fast it's absurd... come on down to Texas, we'll show you what a fast car is... if Katech were a public company I'd own stock

Mon, 11/25/2013 - 14:05 | 4188232 Glass Seagull
Glass Seagull's picture

 

 

32 is 47 in China years.

Mon, 11/25/2013 - 14:07 | 4188238 Running On Bing...
Running On Bingo Fuel's picture

America, the land of opportunity.

Not!

Except if you're a member of the tribe.

Over.

Mon, 11/25/2013 - 22:31 | 4189540 post turtle saver
post turtle saver's picture

oh give it a rest... I see more Ferrari rides at the car & coffee scene in Austin in one weekend than the average ChiCom will see in their lifetime... most of them are lucky they have a mule

Tue, 11/26/2013 - 08:50 | 4190219 Running On Bing...
Running On Bingo Fuel's picture

Sounds like The Tribe has taken over Austin. Maybe expanding The Mayor's gun grab.

Over.

Mon, 11/25/2013 - 14:07 | 4188243 Trimmed Hedge
Trimmed Hedge's picture

Are the Asian drivers in China as bad as they are in the US?

Mon, 11/25/2013 - 14:08 | 4188244 fockewulf190
fockewulf190's picture

Wonder how many were on the golden path but ended up with an official lead injection into the base of the skull.  

Mon, 11/25/2013 - 14:11 | 4188252 I am Jobe
I am Jobe's picture

China will soon be hiring fat slob Amerikans to work at FOXCONN . You get a bowl of rice bitchezz. 

Mon, 11/25/2013 - 14:39 | 4188344 RafterManFMJ
RafterManFMJ's picture

Just a bowl of rice, no fish head? Damn, things are worse than I imagined...

Mon, 11/25/2013 - 15:08 | 4188430 Running On Bing...
Running On Bingo Fuel's picture

In 'merica you get a bowl of Gefilte fish. Mmmmm yummy. Tell your boss this and you will get a promotion up to 'Assembler II' level.

Go juice! Down with China! Round eye slaves are better than slanty eye slaves.

Over.

Mon, 11/25/2013 - 16:06 | 4188602 Matt
Matt's picture

Naw, Foxconn is well along the path of replacing it's workforce with robots. How will consumers have money to consume if the robots have all the jobs?

Mon, 11/25/2013 - 14:13 | 4188258 NuYawkFrankie
NuYawkFrankie's picture

Chinese no drive Ferrari - but Fellali

Mon, 11/25/2013 - 14:15 | 4188265 uncle.bigs
uncle.bigs's picture

I have a Ferrari and yes they are great cars.  Jealous idiots can go suck it.

Mon, 11/25/2013 - 14:21 | 4188279 oddjob
oddjob's picture

I have a Yukon XL, lets meet in a head on and see who is jealous then.

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