LaSource: The supercar broker that deals in unicorns

“A lot of the current members I’ve got to know through my career. They have an absolute passion and enthusiasm for motor cars, be that as an art form or a track weapon.” Banks reckons a quarter of members own an average of 60 cars, while one decadent player has a fleet of 1000 motors.

LaSource doesn’t sell only built supercars but also build slots for such cars – but how does a broker get an inroad to an elusive build slot for the likes of Ferrari or McLaren?

“Once a car collector enjoys a position on a VIP list which gives you access to limited-edition models, he won’t rush to leave it,” says Banks. “But it might be that one’s financial situation changes or they don’t care for a specific model. There are many reasons people choose to pass on a build slot but would want to do it discreetly. On the buying side, people don’t have time to engage on a merry-go-round to get access to the dream cars they want. They will pay a premium to build a breathtaking collection.”

Unsurprisingly, it’s not popular with supercar makers. Banks says: “It’s fair to say manufacturers don’t particularly like it. Some will turn a blind eye – if they’ve got a long-term customer who is faithfully buying most cars and quietly offsetting those costs by selling on those very special cars, for example. Ferrari is probably going to be as aggressive as anybody. But equally these businesses know what side their bread is buttered on. This market has existed forever so one does it quietly without causing a fuss.”

LaSource currently has “a beautiful P1 GTR, a delivery-mileage Senna GTR”, plus McLaren Speedtail and Aston Martin Valkyrie build slots on its books. It also represents brands such as Gordon Murray and Brabham to sell build slots for the upcoming T50 and BT62. “In turnover terms, that’s a bigger part of business. We will only represent what we absolutely believe in.”

Banks, inspired by his years as an engineer working on special commissions (during his tenure, McLaren produced models such as the MP4-12C HS and MSO HS), wants to grow LaSource by assisting buyers who want to commission bespoke cars, using his knowledge of engineering and procurement.

He says: “We are in the process of negotiating a couple of ideas with people. I’ve had clients come to us saying: ‘I want to commission a oneoff car. This is what I have in mind. Who should I commission it with?’ We’ve been able to give feedback. The timelines were unbelievably short, so the recommendation was a smaller-scope project with a smaller party as opposed to an OEM. It’s something we’d like to do more.”

Life in these circles doesn’t mean constant jet-setting, though: “I don’t do an excessive amount of global travel. Pebble Beach is a number-one priority, plus special events such as Villa d’Este and Concours of Elegance. Speaking with like-minded people is when I decide that we need to source a certain car.”