There’s a lesson to be learned from this…
Rich Light, who is a premier car detailer in Las Vegas, Nevada, tells an interesting story of how the attempt to flip a Ferrari LaFerrari cost Steve Wynn his Ferrari dealership in Sin City. It’s a cautionary tale of how one bad deal can sink a business, especially when that deal has a high transaction cost.
Test your knowledge of the Ferrari F40 right here.
Light was introduced to Steve Wynn by Wynn’s brother-in-law, who was told Light was the best detailer for black cars. The man was definitely impressed with the impeccable work done, so much that Wynn hired Light to take care of all the Ferraris for his dealership as well as his personal fleet. This gave Light access to places and experiences few ever know.
Before you start getting romantic ideas about what that means, Light doesn’t provide details but he does say that he found some “peculiar things” in the cars sometimes. You probably know what he’s referring to, at least approximately, but the man hints that the stories you hear about the mafia running Las Vegas have some truth to them.
The whole relationship turned sour when Wynn offered Light a full-time job and the man declined. He tried to explain he like Wynn enjoyed being his own boss, but that was the end of him doing anything for Wynn.
Even though things didn’t end well, the Ferrari dealership still leaned on Light to detail cars for particularly discerning customers. After all, when you’re the best nobody can deny it. Because he was working with people at the dealership, he knew the details of why it went belly-up.
It all came down to a deal with a LaFerrari. Wynn bought one, hated it, and tried to sell it before his contractually-obligated time of ownership was over. For anyone who’s dealt with Ferrari, the automaker is great to work with, but you don’t try to pull the wool over its eyes. Well, Wynn did when trying to offload the supercar early and the result was the complete implosion of his dealership.
Check out the details of the story for yourself.