Australia’s first Classic Car Syndication
“Syndicating ownership of an individual classic car is not viable as the value of most cars do not justify the expenses of establishing and managing a syndication.” said Keith. “There is also the issue of how to share usage of the car between members.”
He has got around that by putting together a collection of classic cars to be shared between members of the syndication. “That way the set up and management costs are a realistic percentage of the value of the collection and vehicles can be rotated between member giving them regular access to a wide variety of classic cars.”
The first consortium consists of 14 classics, varying from a 1956 MG to a 1988 Ferrari. “There is a car for every occasion - convertibles, coupes, autos, 2 seaters. 4 seaters, manuals, sports cars, boulevard cruisers”. He has even included a historic club race/rally car that can be used for track days, hill climbs and club rallies.
He went on to say, “Other issues with syndicating classic cars are unexpected repair and restoration costs and ensuring members have the knowledge and experience in caring for the cars in the collection.”
He has got around the first problem by including his well-established rental business which provides regular income to improve and expand the fleet.
To ensure cars are cared for, each member will be encouraged to help service and maintain the cars so that they learn the early symptoms of things going wrong and the quick fixes to those problems so they can get home after every drive.
“Apart from any financial benefits from the increase in value of the collection and expansion of the rental business, members will also have a wide selection of cars to use during the year; they will learn how to maintain and repair cars and gain confidence to build up their own collection in the future”
Keith hopes to be able to offer this shared ownership model to other enthusiasts with a large collection of vintage and classic cars.
About Keith Mcilroy
Keith Mcilroy’s first love was his Honda 90 Motorcycle that he stripped and re-built many times in his parent’s garage in Derbyshire, England. That was when he was 15. Once he was driving 4 wheels, he attempted to become a professional rally driver. As that dream faded, he commenced a successful corporate career in the UK, New Zealand and Australia.
Fast forward 5 decades and he turned his passion into 3 successful businesses:
- The Vintage & Classic Car Hub teaches owners how to maintain and repair their classic cars.
- Star Cars Agency has one of the largest databases in the world with over 3,000 cars available in Australia for Film, TV, Photoshoots, joy rides, etc.
- Self-Drive Vintage & Classic Car Hire was established in 2008 to earn income from his and other enthusiasts’ collection of cars.
Keith can be contacted on 0407 287329 or [email protected]
