The hedonistic scene was first painted by then-pensions minister Steve Webb.
At the time, critics said pensioners would blow their pension pots when restrictions on withdrawals were torn up then-chancellor George Osborne in the 2014 budget.
Webb said: “If people do get a Lamborghini, and end up on the state pension, the state is much less concerned about that, and that is their choice.”
He was backed by government, which thought it was unlikely dealerships would be inundated by retirees.
So far International Adviser hasn’t tracked down a Lamborghini-owning pensioner, but what if someone had bought a Lambo in 2015?
And how would it compare to sitting on cash, which appears to be a popular choice and a cause for concern as illustrated by the recent Retail Outcome Review?
Good Lamborghinis
According to James Haithwaite, Jersey-based client services director at trust group First Names, it depends on the Lamborghini.
“Yes, there certainly are some Lamborghinis that have appreciated in value since 2014 and the Miura and LM002 are cases in point,” he said.
“It all comes down to the numbers of the cars made and desirability.”
The Miura produced between 1966-73 pioneered the rear mid-engined, two seat layout which has gone on to be the super car format of choice.
“The Miura was arguably the first supercar ever made – making it extremely desirable,” said Haithwaite.
The Lamborghini LM002 (pictured) nicknamed the “Rambo Lambo” was an off-road truck in production between 1986 and 1993.
“An LM002 is rare because it was very expensive to run. Originally designed as a military vehicle I filled one with £150 ($196, €169) of fuel and 70 miles later I was doing the same, a tyre costs £2,500, so not many were sold.”
An LM002 could be picked up for £70,000 at the time of the 2014 budget and is now worth £300,000.
A Miura has increased in value from £140,000 to £380,000 over the same time period.
Bad Lamborghinis
“A brand new Aventador would have certainly depreciated like any modern car as would a Huracan,” said Haithwaite.
“The only modern supercars which have any chance of appreciating are the limited series Ferraris like the La Ferrari of which there are only 400 made.”
Haithwaite specialises alternative assets, especially classic cars. He also specialises in the management and curation of collectable cars often carrying out due diligence checks on car’s provenance and originality, and advising wealthy collectors on portfolios of cars.
