The crypto market may be freezing, but the Lambo market is still hot

The Lamborghini brand became an unofficial symbol of success for crypto investors when the Bitcoin price first skyrocketed. After making some easy money on crypto, it became a tradition to buy a Lambo. Rows of these cars flaunted at conferences dedicated to cryptocurrency, and crypto exchanges placed their ads on Lamborghini.

But what is going on in the market of these expensive cars now, during the prolonged crypto winter?

 

The essentials

Now that Bitcoin has fallen on hard times, the second-hand market is filled with luxury items that crypto investors have begun to sell off. Expensive watches, jewelry, houses and supercars are on sale, but not the Lambo. Even during the crypto winter, crypto investors prefer to keep them.

Bloomberg’s sources confirm two facts:

• Lambda has become a brand heavily oriented toward crypto fans.
• Despite the crypto winter and the general crisis, sales of these particular cars are only increasing.

What is the secret of Lambo?

There are several reasons. One of them is that Lamborghini has proven to be a great physical asset, which cannot dramatically lose value like Bitcoin. Today’s high prices for this supercar prove that. The standard price for such a car is around $200,000.

In addition, the price is held up by the particular mania of investors — the desire to buy a Lambo even with the last money (and many do exactly that). Bloomberg sums up the current state of affairs with the following phrase:

The markets may be chaos, but people still want $200,000 cars.

Car dealerships have adjusted perfectly to this type of buyer, and in 2022 most major car dealerships are selling these cars directly for crypto. The web is flooded with “wen Lambo?” memes, which greatly contributes to this brand’s viral promotion, specifically in the rich crypto environment.

How are car dealerships feeling?

All Bloomberg respondents confirm that Lamborghini dealers are loaded with orders. Despite the world’s financial problems, sales are not only not dropping but are even growing. Crypto investors have played an important role in this. Drawing their memes about Lambo as an image of success, they made the strongest PR for the brand. Now, even in a crisis, customers are willing to stand in line for these sports cars.

For example, the Bloomberg author mentions a new type of car dealership that focuses specifically on crypto investors. AutoCoinCars is an online platform that has never had an actual offline showroom and sells cars through the network, mainly for crypto.

Chief Operating Officer Luke Willmott boasts that sales of this online salon have doubled in the last year to $12 million.