The boutique "dealership" selling supercars to the ultra-elite

Welcome to another edition of expert insights from the Car Dealership Guy Podcast, an episode recap that breaks down the high-level takeaways from the conversation.

In this episode, John Temerian, co-founder of CURATED, explains what it’s like to run a supercar dealership, and how he became the go-to car concierge for the rich and powerful looking to build world-class car collections.

You can stream the full episode now on YouTube, Spotify, or Apple.

1. A family affair.

John grew up around luxury cars thanks to his father, an authorized Lamborghini service provider, and his grandfather, who became one of the first people in his state to service luxury vehicles, including Ferrari, Jaguar, and Rolls Royce. While John didn’t plan on working in the auto industry, his knowledge of rare, collectible vehicles allowed him to network with various car clubs during his stint as a nightclub promoter.

2.Moving past business mistakes.

While he had found success in the nightclub business, this was not to last. John explains that he eventually got in with some bad business partners, a decision that led to debt and even arrest after accidentally writing a bad check. However, this taught him a very important lesson about choosing his colleagues carefully, something he would keep in mind as he worked to restart his career.

3. The start of CURATED.

Around 25 years old, John began developing a business plan for an exotic car rental business. While running this company, he realized that many of his colleagues in the supercar community and his father’s service clients would contact him to inspect vehicles. John realized that few people had taken this generation of luxury cars seriously at the time and that most people lacked the knowledge to really value these models.

While some laughed at his dream, John was determined to make it work and eventually developed a business around retailing the most high-quality collectible, rare cars he could find. Although the rental car business would eventually close, John notes that his failures provided invaluable lessons that led him to where he is today.

4. Collectible cars are investments.

John believes that high-end, Blue Chip vehicles are an investment opportunity, similar to fine art, and markets them as alternative assets to his clients. This emphasis on value and high quality is where the name CURATED would come from. He also notes that these vehicles are more in demand than one might expect — entire generations have grown up seeing these classic vehicles in everything from video games to movies.

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5. How to acquire the right inventory.

John refuses to go through consignment to acquire inventory. Classic cars, many of which were made decades ago, need to be serviced and maintained. This has led John to be very selective when it comes to picking out which vehicles to sell.

6. Funding an ultra-luxury dealership.

In the beginning, John leveraged institutional funding to secure inventory for his dealership, explaining that traditional floorplan lenders weren’t an option. This reliance on outside investors led him and his business partner to keep things as lean as possible, keeping a close eye on finances and under promising while overdelivering.

However, this alone wasn’t enough to cover the business’ overhead as it continued to grow, which is why John now relies on additional business partners who help him secure additional institutional funding.

7. How does John make money?

Unlike most dealers, John doesn’t sell any value-added products like extended warranties, relying almost solely on the sale of vehicles to generate profits.

But the company’s gross margins vary heavily depending on the model. While some are cheaper to maintain than others, John notes that many rare models are “temperamental” and require constant service. In some cases, the amount of work needed to prepare the vehicle is so much that he only breaks even on the sale.

CURATED is also different from most other deals in terms of how long it carries inventory. Currently, John estimates his vehicles take roughly 200 days to sell, although this is mainly because 2024 has been a difficult year. On most occasions, he typically targets anywhere from 90 days to 100 days, which results in an annual sales volume of approximately 100 vehicles.

8. Next level servicing and reconditioning.

Reconditioning can be extremely expensive when dealing with classic cars. John estimates he spends an average of $30,000 to $40,000 on reconditioning costs for each vehicle, many times the typical expense for dealers.

While this emphasis on quality and customer care was difficult to uphold in the early days, John notes that it has paid off in the long run by boosting retention. Roughly 80% of CURATED’s business today are repeat customers.

9. Finding buyers and sellers.

Acquiring inventory is an uphill battle when dealing with classic cars. Although today, around 50% of his leads come through sellers reaching out to CURATED, John relies on every avenue to obtain supply, particularly social media and content marketing. John has even relied on cold calling, following up on rumors by getting in touch with car clubs and collectors.

10. Thriving in the classic car market.

While one would expect many buyers to come from Dubai, John notes that he purchases from Middle Eastern collectors more than he sells to them. This is because consumers in the region are more interested in modern vehicles than vintage models.

Even CURATED’s location in Miami is only slightly beneficial, as a majority of his buyers are looking online from across the country. John notes that the main advantage of being located in Florida is his dealership’s close distance to the airport.

You can stream the full episode now on YouTube, Spotify, or Apple.

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