The Key 2021 by Roarington

Innovation. The key to enjoying the past Science moves fast, without slowing and gives us the impression that it can reveal our every secret. Yet a phenomenon that accompanies the life of each and every one of us, our dreams as we sleep, still remains a mystery. Suppose computers can surprise us with their computing power. How surprising would it be if we were able to reconstruct, with astonishing precision, situations and places that come to us while we sleep, perceived as true and able to be fully experienced? The story that closes this issue of The Key, the story of a meeting with Enzo Ferrari, who returned to bring his message to Ferrari as it looks with determination towards tomorrow, is an authentic dream. I had that dream myself, with all the details you can see in the images and the text. I had it and as soon as I woke up, I wrote everything you can read on page/s 264-271, not even the time for a coffee so that I didn’t leave anything out. An exciting experience, a kind of life supplement of life as surreal as it was profoundly true and relevant. If we reflect on them for a moment, dreams are for each of us a kind of the fourth dimension of our existence that takes place within the confines of the three established dimensions. In reality, a fourth dimension we encounter whenever our existence meets moments of unexpected and profound innovation. Think about just how much our lives have changed thanks to the invention of photography, the discovery of electrici4 TOP OF THE CLASSIC CAR WORLD

ty, the development of communication tools that began with the telegraph, the telephone and the radio right up to the television and today’s web-based communication that has brought us, with our smartphones, to the point where we carry the entire world in a single hand. And every time, these leaps forward have taken us into an unknown dimension that becomes a prerequisite for the fundamental first steps towards tomorrow. Sitting in a driving simulator that shares the shapes, aromas and reactions of those unforgettable period sports cars, “driving history” on old circuits, towards tomorrow, having the opportunity to meet people driven by the same passion, getting to know them by driving together on the same track despite being distant, perhaps in different countries, without obstacles and complications, what is this if not a new dimension of collecting? The smell and aroma of the cars in your collection, whether large or small, are incomparable. The pleasure of reunions at Concours d’Elegance events, gatherings, or meetings, perhaps even competitive ones, often linked to an unforgettable memory, is irreplaceable. Just as magnificent is the opportunity to meet new people with whom you share similar emotions and knowledge. Unfortunately, people are often linked to fleeting encounters or appointments that are too far away to create that intimacy that is

the premise of lasting friendships. With The eClassic Club, TCCT has discovered and developed an additional way to enjoy our passion and create and strengthen human relationships united by the same common denominator. A world that complements our reality and borders on a dream. A world so true it has precisely what it takes to become the authentic fourth dimension of our passion for classic cars and collecting. In today’s reality, where everything changes so quickly, where families seek out moments they can share that can unite the different generations and where people are constantly looking for the perfect balance between tradition and innovation even in human relations, The eClassic Club is an exciting proposition. Like all great innovations, as this one grows, it will also transform from the fourth to the third dimension and become an indispensable opportunity for those who love our magnificent world. A world that thrives on its history but one that looks realistically towards the future. For this reason, eClassic is “The Tomorrow of History”.

Antonio Ghini Chief Editor

InnovATIon. THE KEY To EnJoYIng THE pAST 5

Authors

Stefano Beloni

After an experience in press relations and test drives for Jaguar and Land Rover, he took an interest in classic cars and their restoration, and then moved definitively to journalism for the Conti Editore publishing group. For two years he has been doing the same work for The Key and for the social media of TCCT.

Cliff Goodall

Cliff goodall is an international car auction expert. His data archive and the historical importance of the documents in his possession guarantee the highest levels of trustworthiness, so much so that large insurance companies make use of his advice. He follows all the major auctions across the world in person or online.

Dan Kahn

Dan Kahn started as an automotive journalist writing for magazines like Hot Rod and Rod & Custom. Today, he is a leader in automotive and luxury communications through his own agency and is also the editor and publisher of Finish Line, the membership magazine of the petersen Automotive Museum’s Checkered Flag 200 organization.

Jürgen Lewandowski

one of the world’s most reputable journalists and author of multiple automobile books. His vast experience, in addition to writing, includes a presence in the juries of International Concours d’Elegance events. He is the co-founder of 4c Conference gmbH, which takes care of all topics related to collecting and managing contemporary and classic cars.

Duccio Lopresto

The son of the renowned collector, Corrado Lopresto, he began his professional experience at Hagerty, RM Sotheby’s, Lamborghini and then TCCT in the communication and publication divisions. In 2021, he returned to RM Sotheby’s as European business development director. He gained considerable experience as a young judge in the major Concours d’Elegance events.

René Lüchinger

René Lüchinger is a business journalist, former editor-in-chief at the Swiss news magazine Facts, the business magazine Bilanz and the tabloid Blick, and author of numerous non-fiction books. In 2001 he founded Lüchinger publishing gmbH, which realises content projects in the field of corporate publishing (luechingerpublishing.com).

Martina Mazzotta

A London based art and philosophy historian. She was raised in Milan in the Mazzotta publishing house and Foundation. She is fellow at the Warburg Institute-University of London, author and exhibition curator. Her passion for cars comes from her son Tancredi.

Franco Nugnes

Director of Motorsport.com Italia, he spent his entire life in the automobile and racing worlds, first as a driver and then as a journalist for important specialist magazines such as Sport Auto Moto and Autosprint. Internationally recognized for his profound knowledge of the historical and current reality of Formula 1.

Claudio Rava

A distinguished connoisseur of the international market of collector’s vehicles, he is the creator of Automotive Museums, the world’s only portal dedicated to museums and car and motorcycle collections. He is also particularly active in supporting teams engaged in historical rallies.

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Contents

The tomorrow of history Where does the idea of giving classic cars and their collectors an extra dimension come from and what path has it taken? The pleasure of being together with people with the same passion, the thrill of driving cars that are deeply rooted in our memories, practical reasons to enjoy more of what we love, and opportunities of technology that is trans-forming our lives, are the topics of the following pages and show just how much eClassic was exactly what many people were waiting for. The values of the cars, the races, the “Scuderie” racing teams and the drivers of the past with their chivalrous bravery, are now proposed in the form of the eClassic Club. Nothing has been overlooked, starting with the design of new high-performance cars to put the very best drivers to the test, created by master designers, Pininfarina and Zagato. All this and much more to discover and explore.

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THE ToMoRRoW oF HISToRY 31

The tomorrow of history Where does the idea of giving classic cars and their collectors an extra dimension come from and what path has it taken?

A visionary car journey through the 20th century Martina Mazzotta, exhibition curator and academic, specialises in how art, science and philosophy relate to each other. What follows is her imaginary journey through the 20th century. by Martina Mazzotta Illustrations by Massimo Grandi Photo Editor Stefano Beloni

The following pages are devoted to a journey through the 20th century, a trip in which readers can take an active part, imagining themselves at the wheel of a variety of cars that will lead them along parallel roads and in different directions in an interplay of shared experiences, sensorial input, individual memories and fleeting references. It’s a journey through time, occasionally visionary and unfailingly rich in elements destined to stir up feelings of admiration, but also of criticism and doubt. Each stage is enriched with boxes featuring the leading figures of the visual arts, fashion, architecture and music of the period, along with their works. What comes to the fore is the interconnected nature of creativity, including that of automobile design. From this vantage point readers can enjoy new insights and perceptions regarding the range of inspiration, invention and originality captured in Massimo Grandi’s wonderful watercolors. The 20th century was full of interesting contradictions, of contrasting solutions that gave rise to competitive challenges. Various epithets have been adopted to

By framing the QR code with your smartphone you can hear the selected music.

describe this phenomenon, including the "short memory century", where everything is put in historical perspective and then consigned to oblivion: “remembering to forget”, to use an expression coined by conceptual artist Vincenzo Agnetti. Then there’s the encyclopedic century, suggesting new combinations of the images, art and culture of different places and periods in a feverish consumption of fashion, easily cast aside but periodically revived. Not to mention the century that feared ageing, with the exaltation of youth that came across in contemporary art, the urge to renew at all costs, the cult of exteriority, of the image everyone could identify with. Our journey will take us along traditional tracks as well new paths. Everything depends on achieving the right balance between East and West, North and South. Technology and digital culture shape new concepts of space and time, movement and stasis, written evidence and memory. However, the boldest statements come from the exploitation of images. As we see it, the seminal theme relates to the hybridization of man and machine, of nature and technology – a myth that can be traced back to Frankenstein. Automobiles are indeed an essential part of this highly contemporary scenario.

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154

Cockpit 2021

243

Fuel the passion. In young and old.

Louwman. A man and his collection.

Tokens: everything or nothing?

The tomorrow of history

The fourth dimension of passion

Chivalrous comparison

United under the same flag

116

Sold!

122

Top 100 Collectors 2021

146

What is the future of collecting?

152

A visionary car journey through the 20th century

230

Cockpit 2021

234

Auctions. An encouraging snapshot.

242

Cars and young people. A revival.

258

Museums: time to shift gears

264

Yesterday. Today. Tomorrow.

Young people love automobiles and desire them. Young people are attracted to the Classics, they love the sport that surrounds cars and with it video games which provide an indirect promotional tool. Data and surprises of a scientific study conducted on representative samples of very young Americans, Asians and Europeans belies the idea that cars are no longer of interest.

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Innovation. The key to enjoying the past

A vISIonARY CAR JoURnEY THRoUgH THE 20TH CEnTURY 153

Cars and young people. A revival.

by Antonio Ghini

hat is it they say? “Younger generations are no longer interested in cars!”, or even “They’re far more interested in their mobile phones than getting a driving license!” Little is known about the actual hard data behind these beliefs, so The Key decided to take matters into its own hands and commissioned TCCT Market Intelligence, with the support of the IpSoS research institute, to carry out a survey on a representative sample of 1,700 young people distributed equally between Asia, Europe and the United States to understand their reality. And the results were quite surprising: for starters, they’re exactly the opposite of those two opening phrases. The car is and remains an indispensable object for young adult males (in order to have representative data, after the analysis carried out on women and the car last year – see The Key 2020 – this time our research was focused on young men aged between 15 and 21 years old): 90% intend to possess a car and over 90% aim to receive their driving license or have already taken the exam. And so? Well, before moving on to a detailed analysis of the results – only partial given the amount of information collected that is now part of TCCT’s Market Intelligence database – we feel obliged to make a consideration regarding the irrationality with which opinions and beliefs are created. There is a clear difference between news and facts. Regrettably, the former is not always based on objective facts but, depending

on the argument, can spread quickly and become a (presumed) reality, thanks to the ease, speed and scale the web can distribute content. Today more than ever, facts are the only certainty – something The Key is committed to protect. We are therefore delighted to share with the automotive world of yesterday and today, the results of our findings and the sentiment of the generation that will inherit, among other things, the heritage of culture and passion represented by car collecting. In these pages we will analyze the absolute results divided by area – Europe, USA, Asia – which, when they have significant differences, are also separated between the “sub-sample” groups of 15/17-year-olds and 19/21-year-olds. From this division a fact emerges: the very young show an interest, a curiosity, and a desire to do things and understand our world that deserves more attention from those who communicate. Manufacturers first and foremost.

Exclusive preview of a new survey by TCCT Market Intelligence department. Three samples of young boys, - aged 15 to 21 - from the USA, Europe and Asia (China, Japan and South Korea) to find out what they think about the future of the car, classic cars and simulators. Those who fear for the future of the car are wrong: they want it and they love it. The interviews with 1,700 young people, divided into two sub-samples (15/17 years old and 19/21 years old) were carried out by the international market and opinion research institute, IPSOS on behalf of The Classic Car Trust. The main data are published in this issue of The Key but many more are available on request for further analysis.

CARS AnD YoUng pEopLE. A REvIvAL. 243

Cars and young people. A revival. Young people love the automobile and desire one. Young people are attracted to the Classics, they love the sport that surrounds the car and with it, video games which provides an indirect promotional tool.

ConTEnTS 7-

Fuel the passion. In young and old.

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ith this 4th edition of our yearbook, we once again want to share our insights on the global classic cars market with collector colleagues, business partners, enthusiasts and those interested in these wonderful vehicles. Under the leadership of our Editor-in-Chief, Antonio Ghini, this publication aims to offer much more than useful analysis. To understand this, you need to know the following about Antonio. As former Director of Communication and Brand Management at Ferrari, he played a major role in the development of its brand over a period of 20 years. During that time he made those wonderful Ferrari magazines that have obtained collector value today. So no wonder, he again wants to create at TCCT something unique with each of our issues. Well, see for yourself and do not hesitate to give us your opinion. We are grateful for any advice that will help us offer you once a year something very special with The Key. The unique and great feature story in this issue is actually a book within the yearbook. The visionary car journey throughout the 21 century. A great as-yet-unwritten story, researched passionately by our team, beautifully told by Martina Mazzotta and artfully portrayed by our design team. Pininfarina and Zagato are two outstanding design houses in automotive history. With chivalrous comparison we wanted to explore the DNA of the two design superstars and to contrast their masterpieces. They have designed some of the most celebrated automobiles to date and they have also created the new masterpieces for our initiative The Tomorrow of History: The classic car driving simulators Sportiva, Leggenda and Elio Z. What moves a man to build a stunning world-class collection of automotive history and offer it to the public? Louwman. A man and his collection tells the memorable story of Evert Louwman, FUEL THE pASSIon. In YoUng AnD oLD.

Fritz Kaiser at Bernina Gran Turismo race in his Porsche 550 Spyder

who topped the ranking of the world's collectors in 2020. Read the portrait of a man who showcases the automobiles that played a central role in the industrial age and thus laid the foundations for our prosperity in Europe and who documents all this wonderfully in his museum for the public.

Arturo Keller is our Collector of the Year 2021 Arturo Keller has excelled in the ranking of the world’s top 100 collectors thanks to his continuous commitment to improving his collection and also to the conquest of the prestigious “Best of Show” at Pebble Beach. It is also very interesting to observe how, in just four years, the passionate historian Miles Collier, the generous Fred Simeone who donated his collection to the Foundation that bears his name to guarantee its future and Evert Louwman with his cultured vision of the automobile, have made their way to the very top of the ranking. Meanwhile, other collectors are fast approaching this list, which proofs that interest in classic cars is genuine and profound. 10 TOP OF THE CLASSIC CAR WORLD

Our Market Cockpit works for the future The Key 2021 offers also some deeply significant data thanks to constant market intelligence that TCCT is delighted to share. First and foremost, the results of a survey carried out on a representative sample of young people – aged between 15 and 21 – residing in three major poles of the world economy: United States, Western Europe and Asia with interviews in China, Japan and South Korea. The results are enlightening and demolish the stereotype that paints the new generations as uninterested in or even hostile towards the car. On the contrary, they both want and love cars, they are fascinated by classic cars and believe in a balanced transition towards a environmentally friendly future without the need for drastic solutions and without condemning the internal combustion engine. It is also nice to have the confirmation that video games bring children – all the interviewees were male – closer to the world of cars and motorsport. In the same section of the Cockpit, we have also published a useful analysis of

the market trends for classic cars, based on our methodical analysis of the results from international auctions. The various charts and comments certainly point towards a bright future after the uncertainties of the pandemic. Finally, a stimulus for the heritage of Museums that far too often lay dormant, burdened by the policies of tradition. Never before like in this moment of change could the multitude of magnificent museums across the world be transformed into powerful marketing tools to reignite our passion for the automobile. We will do our part to usher in this change.

The Fourth Dimension of Classic Car Experience In the 2020 issue of The Key, we informed you that we had looked into the topic of "classic cars go eSports" and we showed there our first prototypes. Well, we like to walk the talk and so in the last year we improved the products based on market surveys, developed new features, completed intensive functionality testing, achieved European CE certification and started production.

Now we are ready to go and we have launched eClassic in Italy and Switzerland during September 2021. Our first eClassic Club members will be able to experience something exciting new with family and friends in their Swiss or Italian collector's garage before Christmas.

collectors and enthusiasts, linked both in real life and virtually through our digital platform in the eClassic Club. Read more about his in this issue.

However, the first proud owner of a Pininfarina Leggenda is a German collector. He won the battle at the RM Sotheby’s Auction in September in St Moritz with his bid of € 175.000 for the No 1 of the limited collector's edition of only 9 units, which we created to celebrate Pininfarina's 90th anniversary. The Leggenda was one of the three most successful lots at that St Moritz auction.

What if aficionados, young or old, could buy even a small share in a classic car? Or if collectors could put parts of their collection on the market to generate liquidity and increase the value of their treasured automobiles? Or if a previously inaccessible asset class could be opened up to new investors? Perhaps the market for classic cars could benefit from this kind of disruptive restructuring to the advantage of collectors and investors, meaning that the value of historic cars from the 20th century can be maintained and increased for future generations. A truly enticing idea. And NFTs could be the key.

Pininfarina and Zagato eClassic Editions are high-quality classic car simulators that allow you to realistically drive the most important classic cars from the comfort of your living room, so to speak. This could be a Ferrari F40, the Porsche RSR, the Lamborghini Miura and others on legendary tracks such as Monza, Nürburgring or the Bernina mountain track. Whenever you want. Alone or with friends. As a driving pleasure, training or in a virtual race. Many of the wonderful old cars we love can nowadays be used only too rarely. And young people can usually only dream of driving them. Who can try out an icon like the Ferrari 250 GTO, which costs tens of millions? Now you can. With eClassic, we hope to additionally fuel the passion for these cars among young and old. With new technologies and innovative programs. With our eClassic program we aim to complement the real world of classic cars in a fascinating way and to playfully inspire the new generation. In the end, eClassic should be much more than having great fun with a classic car simulator from the designer. We call this the Fourth Dimension of Classic Car Experience with eDriving, eRacing and our own eAcademy. In this context we are creating an international community of classic car

Tokenizing classic cars

Our mission at TCCT is to address fundamental questions surrounding the future of classic automobiles. In September 2021, we invited to another TCCT Leader Forum in St Moritz to discuss the topic of tokenizing classic cars with a group of expert personalities. You can read the report of that discussion in this issue. I remain personally interested in this topic and we will continue to closely follow the developments around NFTs and evaluate for ourselves whether TCCT should launch an initiative here.

The future of classic cars The Petersen Museum in Los Angeles hosted a panel discussion during the Pebble Beach Week 2021 with some prominent American collectors on "The Future of Collecting" and invited TCCT to co-host and me to moderate the discussion. Unfortunately, I was unable to attend due to the Covid travel restrictions imposed by the US on Europeans. However, we have a summary of the view of our American friends with my commentary on it in this issue.

The future of collecting plays a central role in the search for answers to the more fundamental question about the future of classic cars. Talking about trying to understand the future I do remember a conversation years ago with Prof Josh Lerner of Harvard Business School on the subject of responsible investing. His conclusion was that "the business of prediction is very difficult". Well, we know it is. However, we want to understand what paths will lead us to a good future and what initiatives will promote sustainability for what is important to us. Today we all know and have to accept that the big ecology and mobility trends are bringing fundamental changes faster and faster and that the car industry is currently reinventing itself. In times like these, we experience disruptions and it is no wonder that some people are afraid of the future. But let us not forget that every medal has 2 sides - risks and opportunities. We are optimistic that a positive future exists. We just need to see and develop it. For me the generation change today represents the biggest driver that will determine the future. That's why we have to fire the passion for classic cars with new ideas and contemporary initiatives among younger people. We are the Classic Car Trust and we want to help to support this direction with useful market information, inspiring stories and initiatives which also excite younger people. Of course we are only one star in the firmament for this movement but we are more than happy to collaborate with others and support them to promote this path.

Fritz Kaiser Founder of TCCT and the eClassic Club fritz.kaiser@tcct.com FUEL THE pASSIon. In YoUng AnD oLD.