[Q&A] Crossley & Webb: Putting A Spin On Motor Investment In Cape Town
Gareth Crossley and Bryan Webb make-up the dynamic duo of the premier motor investment company Crossley & Webb. They’ve turned a love for classic and sports car vehicles into more than an investment venture — rather a lifestyle for clients. In their new location across from Wembley Square in Cape Town, South Africa, multiple services are offered. Four of Crossley & Webb’s core services include: selling and investing; the car clinic; the eurie25 club, an international timeshare franchise of elite membership allowing access to over 50 cars like Lamborghini and Rolls Royce; and glass car storage along with conference rooms and the Truth coffee bar.
With a background of over 15 years working for top luxury car companies like Maserati, BMW, and Ferrari — reaching senior positions, Crossley understands what makes for good investments. Webb, an acclaimed engineer has a wealth of knowledge and the ability to make sound judgements on restoration for the various vehicles which the company exhibits. Altogether, the niche motor investing company has about 20 employees. AFKInsider caught up with Gareth Crossley to discuss the unique business of motor investment.
AFKInsider: For those who aren’t familiar, what is motor investment?
Gareth Crossley: A motor investment or motoring investment is an allocation of a portion of someone’s investment portfolio to alternative investments of passions such as classic and sports cars. Theses motoring investments have grown in popularity due to the poor performance of conventional investments.
AFKInsider: How did you and your partner(s) get into motor investment?
Gareth Crossley: Myself and Bryan Webb identified a need to provide a platform to promote motoring investments as there was a huge gap between the knowledge of European and South African collectors, which resulted in most of the finest South African investment-grade classics finding their way overseas.
AFKInsider: Explain your four core services and why they’re important to the company.
Gareth Crossley: Firstly, we buy and sell investment-grade classics and sports cars. Secondly, the ecurie25 Supercar club complements the classic and sports car sales by offering clients the most financially intelligent way to enjoy a fleet of modern supercars — and experience exciting supercar driving events.
We maintain the quality of our vehicles through our Classic Car Clinic and provide professional servicing and restorations. Finally, we provide high-end storage for classics and sports cars in our climate-controlled glass vault as we have discovered that our clients are prepared to allocate more funds to motoring investments if they have a safe and secure storage solution.
AFKInsider: For people considering motor investment — what’s most important to know?
Gareth Crossley: They need to know what they are buying by doing extensive research. A vehicle inspection by Crossley & Webb or the AA is vital as classic cars have many hidden secrets due to their age and short-cuts taken during previous repairs.
AFKInsider: Tell us about your target market in South Africa.
Gareth Crossley: Our key target market for Crossley & Webb consists of motoring enthusiasts who have bought modern Sports cars in the past and have begun to realize that with correct advice and knowledge they do not always have to lose money on a Sports car. We provide a professional entry point for these clients into the classic and collectable motoring segment.
These clients can enjoy the modern Sports cars through membership to our ecurie25 lifestyle club, invest in vehicles that retain value and allocate remaining funds to their businesses, etc. In addition to these clients, we will provide a consistent and high quality service to existing classic and Sports car enthusiasts.
AFKInsider: What makes Crossley & Webb unique in this industry?
Gareth Crossley: Crossley & Webb is multifaceted and our four business units are interconnected and complementary enabling us to offer clients a unique complete motoring solution.
In addition we have built a motoring lifestyle venue in Solan Street Gardens opposite the Virgin Active gym in Wembley Square, and encourage the public to visit Truth Coffee bar and the merchandising area to promote the venue.