unilad homepage
unilad homepage
  • News
    • UK News
    • US News
    • World News
    • Crime
    • Health
    • Money
    • Sport
    • Travel
  • Music
  • Technology
  • Film and TV
    • News
    • DC Comics
    • Disney
    • Marvel
    • Netflix
  • Celebrity
  • Politics
  • Advertise
  • Terms
  • Privacy & Cookies
  • LADbible Group
  • LADbible
  • SPORTbible
  • GAMINGbible
  • Tyla
  • UNILAD Tech
  • FOODbible
  • License Our Content
  • About Us & Contact
  • Jobs
  • Latest
  • Archive
  • Topics A-Z
  • Authors
Facebook
Instagram
X
Threads
TikTok
YouTube
Submit Your Content
Why Elon Musk paid $1,000,000 for a rusty old car found in a $100 storage unit
Home>Celebrity>News
Published 15:05 14 Dec 2024 GMT

Why Elon Musk paid $1,000,000 for a rusty old car found in a $100 storage unit

Elon Musk wasn't just flinging his cash about for the sake of it

Gerrard Kaonga

Gerrard Kaonga

google discoverFollow us on Google Discover
Featured Image Credit: Anna Moneymaker/Getty/Jacob SUTTON/Gamma-Rapho/Getty

Topics: Elon Musk, Celebrity, Money, US News, Cars

Gerrard Kaonga
Gerrard Kaonga

Gerrard is a Journalist at UNILAD and has dived headfirst into covering everything from breaking global stories to trending entertainment news. He has a bachelors in English Literature from Brunel University and has written across a number of different national and international publications. Most notably the Financial Times, Daily Express, Evening Standard and Newsweek.

Advert

Advert

Advert

If you're the richest person in the world then why not splash excess cash on an old car, eh?

Well, you'd hope that Elon Musk wouldn't have completely more money than sense in that regard - he is the CEO of companies such as Tesla and SpaceX, after all.

Indeed, when he reportedly decided to splurge a whopping $997,000 in 2013 to buy a car a couple found in a storage unit, there was thankfully a bit more of a reason for the excessive spend than it first seems.

The unlikely history of a storage unit car

Back in 1989 a young couple, who to this day remain anonymous, paid $100 for an unclaimed storage unit. As the auction was a blind one, neither themselves or the seller actually knew what was inside the unit - making it even more risky or exciting, depending on how you look at it.

Advert

The couple, from Long Island, New York, were left with the biggest surprise of their lives.

Under some dusty, old blankets was the 1976 Lotus Esprit sports car used in the 1977 Bond movie, The Spy Who Loved Me.

The sports car transforms into a submarine and fires missiles while underwater in the film. So, you can clearly see why it'd be such a hot commodity.

The car may've not been worth much but it is iconic (Jacob SUTTON/Gamma-Rapho via Getty Images)
The car may've not been worth much but it is iconic (Jacob SUTTON/Gamma-Rapho via Getty Images)

The Lotus was left in the storage unit for more than a decade after the Roger Moore Bond movie was released.

When the couple first found the car, 'they really didn’t know what it was', according to Doug Redenius, the man who authenticated the car.

Speaking to NBC in 2013, Redenius said that the couple had never watched a Bond film before and 'had no idea how valuable their discovery was'.

The husband planned on making some improvements to the car's dented roof and also some general car improvements, but after they loaded the car onto the truck, truckers contacted them to let them know they were in possession of a Bond car.

Musk reportedly splashed out on the motor (Alex Wong/Getty Images)
Musk reportedly splashed out on the motor (Alex Wong/Getty Images)

After displaying it at occasional exhibits over a period of two decades, the couple decided to put it up for auction in 2013.

At the RM Sotheby, the car was sold to a secret buyer and of course everyone was delighted.

This is when Musk stepped in, with it later being revealed that the same man who wants to put humans on Mars by 2029 had made the car purchase.

Fair enough.

Choose your content:

3 hours ago
9 hours ago
12 hours ago
  • John Lamparski/Getty Images
    3 hours ago

    Reality star Hannah Brown explains how GLP-1 medication helped her to tackle life with PCOS

    The Bachelorette alumni opened up about using a GLP-1 drug to manage severe insulin resistance and manage her chronic PCOS symptoms.

    Celebrity
  • Jason LaVeris/FilmMagic
    3 hours ago

    Amy Adams reveals she saved a man’s life after he was stabbed in the neck using skills from a cancelled TV role

    Long before Enchanted or Arrival, the actress picked up emergency first-aid tips for a failed Rob Lowe show that ran for just five episodes.

    Celebrity
  • John Nacion/WireImage
    9 hours ago

    Millie Bobby Brown explains why she apologized to her Stranger Things co-stars after show ended

    Stranger Things concluded with a bombshell finale on 31 December, 2025

    Celebrity
  • (Photo by Jeff Schear/Getty Images for Acrisure Amphitheater)
    12 hours ago

    Lionel Richie abruptly cancels concert mid set after falling ill on stage and sitting down in concerning footage

    The 77-year-old took a 40 minute break before it was announced he wouldn't be returning

    Celebrity
  • Elon Musk wiped $14,000,000,000 off Tesla's value with just a single tweet
  • Elon Musk has made a '$32,000,000,000 loss' since taking over Twitter
  • Elon Musk’s record-breaking $56,000,000,000 Tesla payout denied causing shares to fall
  • 21-year-old footage footage of Elon Musk outlining his plans for SpaceX leaves people mind-blown