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Why I Bought a Bentley and What It's Like

In 2003, Rick Rubin offered me a ride in his Bentley Arnage. I declined because I thought the place we were going was within walking distance, and only after he drove off did I realize that I was thinking of the wrong place and had missed a chance to ride in what I still believe is the most beautiful car ever built.

Ten years later I was reading an article of the top ten most depreciated cars, and the journey from number ten to number one ended in that very car, the Bentley Arnage. Bentleys retail for $250,000 or more, but at the time of the article the Arnage could be had for $30,000. That was still more than I would spend, but it brought the idea to earth at least.

I'm not really a car guy. I have a soft spot for Mercedes, coupes in particular, but I'm mostly interested in getting from point A to point B. I've never financed a car, and when I bought my last car the only three categories I'd consider were Japanese minivan, barest-bones econobox, or 90s era Mercedes. I ended up buying a 1996 Mercedes C220 for $1600 and spending $900 to get a couple problems fixed up. It shifted with a bit of a thud and the AC was cool, but not quite cold. I figured it would last a year or so, but it's still going strong two years later.

A few months ago I decided to see if Bentleys had depreciated further. Sure enough, they had. Some could be had as cheaply as $20k. The Mercedes was still clunking along, but at that price I couldn't help but do a little research. What I found whipped me into a bit of a frenzy.

God bless people who buy low and sell high

On SEBASTIAN MARSHALL

Arbitrage and speculation get a bad rap sometimes, but they're incredibly useful.

I'm leaving Ulaanbaatar shortly and I'll be heading to Japan. I went to stock up on some basic supplies - personable consumables and work stuff.

Strikingly, paper is really expensive here for Western-grade, Western-style paper. The local shops literally don't carry it. Instead, they have this checkered sort of paper. It's like graph paper, but with thick black lines. I prefer black ink, and after trying out one of those notebooks, I couldn't read what I'd written.

I tried some of the upscale department stores (Sky Department Store, State Department Store) and there's literally no Western-style, 60 sheet lined notebooks in the $1 to $2 range like you'd see in the USA. They have high end notebooks for $6 to $12, and they have these thin flimsy 20-page booklet-type things for around $1. I settled for the booklet.

Now, if there was the demand to make it worth it, someone importing Western style paper from China at 20 cents a notebook and selling it here for $2 per notebook would be creating a lot of value. If this presented a large enough opportunity, eventually you'd see the margins go down towards cost, as happens in almost all industries.

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