James Banks. Image: LaSource
Every now and then, you’ll come across a company that’ll pique your curiosity and then make you fall in love with its cause. LaSource is one such company. Founded by a man whose love for cars knows no bounds, LaSource takes motorcar brokerage to a whole new level.
Often times with brokerage, potential buyers and sellers are separated by several degrees of connections. It’s almost never a simple buyer-seller negotiation. LaSource aims to provide this process with what its sorely lacking: a personal connection. LaSource offers an exclusive membership programme that allows car enthusiasts to connect and perform seamless transactions. It also takes on bespoke commissions and restoration projects, as well as provide expert advice on buying and selling rare motor cars.
To find out more about this intriguing company, we caught up with its founder James Banks, who has spent many years in charge of McLaren’s heritage and bespoke car programme. He talks to us about his love for cars, what LaSource is all about, and where he thinks the motor car industry is heading.
Brabham BT621. Image: LaSource
You had a successful career at British supercar manufacturer McLaren, but you decided leave the company and establish LaSource. What was your motivation?
When I was at McLaren I actually spent many years on the engineering side and moved on to manage their customer commissions within their bespoke department much later, which led me into a lot more customer-facing work. Several of the projects we developed for these clients were genuine one-off, two-off or three-off cars, and I ended up building a lot of very solid relationships with people over the years through those commissions.
Fast-forward to 2019 and I set up LaSource. I wanted to create a network between the most passionate car collectors in the world, allowing them to buy and sell directly between owner and buyer – no intermediaries. We wanted to make the whole process completely trustworthy and transparent.
The reason for that is that with the rise of Instagram, people who are passionate about motorcars can share their passion with other people online. Suddenly it’s possible for a stranger to access a billionaire car collector and build a level of rapport. “Bedroom brokers” is a term you might have heard in the past.
People will approach you saying, “I’ve got an X, Y, or Z for sale.” — almost always something extremely sought after. As the deal starts to progress, the initial claim starts to morph and before you know it, it transpires that the broker, actually knows a broker, who knows another broker who claims to be acting for the seller and you are not corresponding with the seller’s agent at all. I’ve seen extreme cases when the car evaporates along with a significant down payment made to the broker!
Brabham BT622. Image: LaSource
So, what exactly does LaSource offer?
There are really three things at the core of the LaSource offering. The first is the sale of iconic performance cars between private buyers and sellers at the very top end of the market, which includes the sale of build slots. In this latter case, if for whatever reason a buyer may not wish to own the car that they have a build slot for we will help them to discreetly move it on to an interested customer.
Secondly, we are the official sales agent and consultant for several manufacturers, including Brabham Automotive, CALLUM, and Gordon Murray Automotive, and classic car business Thornley Kelham. And finally, we’re your trusted partner through a bespoke build creation. Using my background as an engineer and my experience with few-off builds at McLaren, LaSource can
By: Terence Ruis
Title: LaSource: This Company Wants To Help You Build The Car Of Your Dreams
Sourced From: www.luxuo.com/motoring/automobile/lasource-dream-car-interview.html
Published Date: Mon, 23 Aug 2021 23:00:14 +0000