Author Topic: How To Turn $250,000 Into $1 And Then Into $4.2 Million  (Read 568 times)

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Offline trapeze

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How To Turn $250,000 Into $1 And Then Into $4.2 Million
« on: January 20, 2013, 07:59:35 PM »
Quoted entirely from the wikipedia entry...

Quote
The Lincoln Futura was a concept car designed by the Lincoln division of Ford Motor Company. It was originally designed by Ford Motor Company lead stylists Bill Schmidt and John Najjar and built by Ghia entirely by hand in Italy at a cost of $250,000 and displayed on the auto show circuit in 1955.

The Futura's styling was original by the standards of the 1900s,' with a double, clear-plastic canopy top, exaggerated hooded headlight pods, and very large, outward-canted tailfins at both ends of the vehicle. Nevertheless, the Futura had a complete powertrain and was fully operable in contrast to many show cars then and now. Its original color was white, and was one of the first pearlescent color treatments, using ground pearl to achieve the paint effect. The Futura was powered by a 368 cubic inch Lincoln engine and powertrain; the chassis was that of a Lincoln Mark II.


The Futura was a success as a show car, garnering a great deal of favorable publicity for Ford. It was released as a model kit and a toy, and in a much more subdued form its headlight and tailfin motifs would appear on production Lincolns for 1956 and 1957, such as the Lincoln Premiere and Lincoln Capri.

The Futura played a prominent part in the 1959 movie "It Started with a Kiss," starring Debbie Reynolds and Glenn Ford. For the movie, it was painted red, as the pearlescent finish did not photograph well.

After that, though, the car would have been forgotten and perhaps destroyed, as most show cars of that time were. However, it was sold into the hands of George Barris, an auto customizer. Despite the car's original cost of $250,000, the Lincoln Futura was sold to Barris for $1.00 and "other valuable consideration" by Ford Motor Company. As the car was never titled and was therefore uninsurable, it was parked behind Barris' shop where it sat idle for several years and was allowed to deteriorate.

In 1966 Barris was requested to design a theme car for the Batman television series. Originally the auto stylist Dean Jeffries was contracted to build the car for the show in late 1965, but when the studio wanted the car faster than he could deliver, the project was handed to Barris. With the short notice, Barris thought the Futura might work well, and using Jeffries initial car, decided that its unusual winged shape would be an ideal starting point for the Batmobile. Barris hired Bill Cushenberry to do the metal modifications to the car.


Barris went on to build three fiberglass replicas using the frames and running gear from 1966 Ford Galaxie cars for the show circuit, three of which were covered with a felt-like flocking finish in the 1970s. Barris later acquired a fourth replica, a metal car built on a 1958 Thunderbird.

After its conversion to the Batmobile, Barris continued to retain ownership of the car, leasing it to the TV studio for filming. After production of the TV series ended, Barris continued to own the car, which was displayed in Barris' own museum in California. It has been displayed in the Cayman Motor Museum on Grand Cayman Island.

Barris sold the Batmobile to Rick Champagne at the Barrett-Jackson collector car auction on Saturday, January 19, 2013 in Scottsdale, Arizona for $4.2 million dollars.

So actually Barris made well over $4.2 million for his $1 investment. The television studio first paid him to customize and modify the car and then after "Batman" was cancelled he continued to lease the thing out until he sold it at auction yesterday. This car was like a career for Barris with a very big pension payment at the end.

And, BTW...I saw this on the FNC site where they had the news of the sale at auction but they didn't include any of the above info which is what makes the story really interesting. Such is the state of "journalism" these days that they miss an opportunity to turn a tidbit into a real tale. Hey, I can even do video in "my story."

« Last Edit: January 20, 2013, 08:07:39 PM by trapeze »
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Offline AlanS

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Re: How To Turn $250,000 Into $1 And Then Into $4.2 Million
« Reply #1 on: January 20, 2013, 08:24:57 PM »
I'd heard about the sale, but didn't realize Barris was still alive. He must be older than dirt by now. I can remember quite a few of his creations when I was a youngster. IIRC, he did the cars for the TV show "The Munsters".
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