A man who purchased 240 Land Rover Defenders in 2015 shares how much he earned from his biggest career risk.
In 2015, Charles Fawcett made a bold move. He purchased 240 Land Rover Defenders, which were about to be discontinued.
This decision cost him over £8 million. Many people thought he was crazy for spending so much money on these vehicles.
Last chance for the defender model
The Land Rover Defender is an iconic vehicle that has been around for nearly 70 years.
In 2015, Land Rover announced that they would stop making this beloved model.
This news upset many fans. However, Charles saw this as a chance to invest in something that would become rare and valuable.
Overcoming financial challenges
Buying 240 vehicles was not easy. Charles faced significant financial challenges.
He did not have enough cash to pay for the cars upfront. To make the purchase, he had to borrow money.
He also had to set up a plan to sell six modified vehicles each month during the first year. This was a big gamble for him.
Charles owns a company called Twisted, which specializes in customizing Land Rover Defenders.
After acquiring the vehicles, his team began to modify each one. They put around 1,500 hours of labor into every build.
This level of craftsmanship and attention to detail made the Defenders unique and appealing to buyers.
He recounted: “Land Rover are very protective of their brand, they didn’t want people taking the product, changing it and making money off it.
“When I placed the order, what I didn’t tell [Land Rover] was that I had no money to pay for them and I didn’t have anywhere to put them.
“So when we finally got them to agree [to the sale], we had to scurry around and find the money. We had to borrow every single penny of that money and we had to pay back every single penny of that money back.
“Everyone thought we were nuts. But, I always felt it was a good investment and I always knew there was a get out if I needed it.
“These vehicles would always sell even if they sold for what they cost me.”
Selling for higher prices
At first, Charles sold the modified Defenders for between £70,000 and £90,000 each (approximately 91,000to91,000 to 117,000).
Now, almost ten years later, the prices have skyrocketed. They now sell for anywhere between £180,000 and £320,000 (approximately 234,000to234,000 to 416,000).
This increase in value shows how wise Charles’s investment was, as he believed these vehicles would appreciate over time.
Out of the 240 Defenders Charles bought, only 25 remain today. As he prepares to sell the last few, he reflects on how far he has come.
He feels proud of what he has achieved and plans to keep a couple for himself.
The remaining Defenders have become rare treasures for collectors.
“The bit that gets missed in the middle is that we also put 1,500 hours into every single build. That’s 1,500 hours of labour using parts, components and processes developed over 25 years.
“It really is an extraordinary level of craftsmanship and attention to detail that justifies the premium price point, but it was still a huge risk. Ultimately, we build something no one needs but the desire for it is huge.
“Having that stock of vehicles has enabled the business to grow over the nine year period since production ended and in those nine years we will have turned well over in excess of £50 million. Without those core vehicles I suspect the business would look quite different.
“We are down to the last 25 now, I will be sad to see them go, but I’m going to keep some for myself.”
Enjoying the challenge of risk
Taking risks has not only been about financial gain for Charles. He enjoys making bold decisions that others might view as foolish.
He believes that trying something new can lead to great rewards. His adventurous spirit has driven him to succeed in ways he never imagined.
“A number of times through my journey with Twisted I’ve had people advise me not to do things, or tell me something’s a bad idea,” he said.
“I have to be honest, it makes me want to do it more. If someone says ‘no’ it’s like red rag really, at any of these points in the past I had nothing to lose so why would I not try something?”
Looking forward, Charles has big plans for his business.
He aims to expand Twisted into the marine industry and has already launched Twisted Marine in 2020.
His next goal is to modify one of the remaining Defenders to sell for half a million pounds. This project will require even more creativity and skill.