Economy & Market

In November of 2011, Daimler announced that it intends to axe one of the world’s most potent symbols of wealth—the Maybach. Volkswagen AG (owner of Bentley and Rolls Royce) sees the opportunity to approach some of Maybach’s wealthy clients, including Jay-Z, Samuel L. Jackson, King Juan Carlos, Roman Abramovich and the Sultan of Brunei to perhaps capitalize from the luxury car’s cancellation.

Moneybags Beyoncé Knowles recently took a hit in the luxury real estate realm, unloading her beachside pied-à-terre for about 75% less than she paid for it! Yes, even celebrities fall victim to a challenging market, like Chris Tucker’s Florida mansion losses recently! That is right, Tucker lost out on two upscale properties, follow above link for full story.

On the heels of a decade of decline sales, Daimler has determined that the death of the Maybach is imminent. The decision to disband the Maybach brand points to a decade of declining sales and a new focus, of course, on the future of the Mercedes-Benz brand.

Don’t worry--you can still rent a Maybach from your friends at Imagine Lifestyles Luxury Rentals anytime you please! We offer competitive pricing for all top brands, including Rolls Royce rentals and Mercedes-Benz rentals! Pictured above: Maybach 57S rental in Miami

Jerry Rice is asking that the people backed out of buying his $11 million dollar mansion pony up the $330,000 owed to him in accordance with contract terms. The contract stated that should the buyers back out, as they did at the last minute, they forfeit the $33,000 USD. Estates and spaces of this caliber come with stipulations to prevent the waste of precious commodities...like Jerry's time! See photos of mansion at bottom of post!

Jerry Rice has deep pockets

Aston Martin has announced the launch of its tiniest member, the Cygnet, in Japan and Hong Kong. While many scoff at the diminutive dimensions of the Cygnet, it may be quite appealing in Japan and Hong Kong as a welcome solution to overcrowded streets and parking structures! I bet they are hoping Aston Martin Cygnet sales fare better in this market than they did in other parts of the world!

Aston Martin Cygnet launches in Japan and Hong Kong

Rapper Flo Rida seems to be very creative when it comes to protecting his precious luxury items…for example, he leaves his prized red Bugatti Veyron with a local exotic car dealer while he is out of town or on tour. The bonus? Aside from the car being defended against theft and the elements, Flo Rida pays nothing for the storage!

I assume Flo Rida’s DUI arrest in Miami cost him plenty, so saving on his storage is a bonus.

Flo Rida DUI mugshot

The heat is on between longtime luxury auto rivals Mercedes-Benz and BMW, with Mercedes overtaking BMW during October U.S. sales. Mercedes enjoyed 22,637 U.S. deliveries last month while BMW only 21,873. BMW, however, maintains the lead for the year at 199,552 total vehicles sold.

Stiff competition!

It seems that some cheat-savvy individuals in Oregon and other farming states have been harvesting some major savings on their luxury vehicle insurance—by claiming they are used for the farm! These fraudulent claims have not left insurance companies amused, and the claimants will not be laughing till the cows come home!

Could you see a Bugatti farming in Napa Valley?

Many have embraced the Fisker Karma luxury hybrid, a sharp model seemingly ahead of its time. Even Leonardo DiCaprio owns a Fisker Karma, and held the bragging rights to being the first to order the new model! At the moment, however, many are scrambling to make sense of a gaping MPG discrepancy. By European standards, the Karma is rated at 112 mpg…yet previously, it was slapped with a 52 mpg rating by the EPA. This is a huge difference by any comparison!

Fisker Karma

If it sounds crazy to you to drop more on a parking spot than a brand-new drop-top Ferrari…do not move to Manhattan! For the bargain price of $225,000, you can purchase a prime spot in space-starved Manhattan…where parking space is considered prime real estate! Amazingly, there are actual waiting lists for these exclusive spots. I did cover the most expensive parking spot back in March of 2011, and it retains the title along with increasing media coverage. How much will the next most expensive spot set one back?

If you couldn’t imagine spending such a huge amount on a parking spot, just imagine lugging your groceries and shopping bags for blocks in winter weather (double that if you have kiddos)!

The past two years has seen a revival of the luxury market, once seemingly on hold. The economic downturn has not necessarily affected the wealthy, yet they did alter spending habits for a few months to avoid appearing boastful. Lately, however, the luxury lifestyle is back, shameless and cutting edge!

Global sales of luxury goods hit an amazing $254 billion in 2011, and it seems Chinese women buy luxury cars the fastest, shelling out cash for Maserati’s and other top-of-the-line automobiles.

The China luxury car market is fueled by females, too

When a new form of media emerges, you can bet that advertising is not far behind, and that includes celebrity endorsements. Now that Twitter is in its 5th year and boasts millions of users, celebs can rake in as much as $10,000 per Tweet…depending on their popularity. Think of it as a mini-advertising campaign…in 140 characters or less!

So who are some of the famous people out there using Twitter as a side source of income? Here are a few:

While some see cavernous potholes on India’s roads, Lamborghini sees opportunity. With a surging new crop of millionaires eagerly buying luxury items, Lamborghini has created a clever way to draw attention to their fleet of exotic sports cars. The rumor is that Lamborghini is fitting India units with a specialized “lifting system” to better scale the rugged roadways along with the ability to run on regular gasoline and high-octane fuel. These cars are so low to the ground that a lifting system would be awesome on our Lamborghini rentals...you can get one caught on a discarded coffee cup.

In case you are unfamiliar with the harsh reality that is India’s infrastructure…the above photo is quite accurate.

The macroeconomic outlook of major luxury car brands seems to be of much interest lately, as the recession begins to recede at the pace of drunken amoeba. It continually shocks some people that the wealthy are still spending. The fact is that they were rich before the recession, they remain wealthy, and will likely survive the entire downturn relatively unscathed. The point is, luxury carmakers are doing very well, especially Ferrari & Rolls Royce.

Rolls Royce & Ferrari

A Ferrari may be a better investment than actual gold! This would certainly seem true because at Gooding & Co. auction house, a 1957 Ferrari 250 Testa Rossa prototype sold for an astounding $16.4 million dollars during the Pebble Beach Concours d’Elegance last week!

1957 Ferrari 250 Testa Rossa