The Bugatti Divo was revealed back in 2018 and is one of the rarest hypercars in the world, with only 40 units produced for the entire world. With a base price of five million euros (around RM23.7 million), the track-focused version of the Chiron was sold out in its first day of availability, and one of the lucky few that managed to secure a unit is a Malaysian and avid car collector, Chin Jit Pyng (JP Chin).
In a video posted by JPM Collection recently, Chin talks about his new Divo, which took two years to be built and was delivered to Singapore in June this year, making him possibly the only person to own one in the Southeast Asia region.
Why not Malaysia? According to Chin, cars are “tax-free” in Singapore if they are not registered and they don’t require an AP to be brought in, unlike here. Currently, the car is being taken care of by Wearnes Singapore, which holds the Bugatti franchise for the Southeast Asia region.
Chin adds that cars like these are bought as investments, so having properly trained personnel and facilities to maintain them are important. Besides the Divo, he also has two other limited-production cars in Singapore, namely a Chiron and a Porsche 918 Spyder.
With the keys to such exotic machines, Chin admits that he has never driven the three cars he has in Singapore. However, he has been to Bugatti’s headquarters in Molsheim, France to experience a Chiron for himself back in 2017.
Chin says in the video that he hopes to bring some of his cars to Malaysia one day as a public attraction for public viewing or to drive it on the Sepang International Circuit, although this is highly dependent on whether he can secure the necessary paperwork from local authorities.
As for how he built his car collection to include a Divo, Chin said he first bought a Ferrari Enzo in 2000 after selling his company, which was then followed by a Lamborghini Murcielago. As more cars came in, his reputation as a car collector grew and he formed a relationship with Bugatti when he purchased a Chiron.
He then convinced some friends to buy the Chiron too, which made Chin an ambassador of sorts for Bugatti – he hosted the Malaysian introduction of the Chiron Super Sport in 2018. As a result, when the Divo was revealed, he was one of a few customers that received a special invitation to buy it – only current Chiron owners are eligible to buy a Divo.
What’s next? Well, Chin isn’t saying outright, but he did hint that the car recently debuted at this year’s Pebble Beach Concours d’Elegance and is possibly the fastest track-only car in the world. All signs point to the Bolide, which is Bugatti’s extreme track-only racer unveiled in November last year.
Chin also said he specifies his purchases carefully as they are investments, so any personalisation options are carefully chosen (launch colour, specific interiors) to ensure their values are not heavily affected. The only exception is his Chiron, which has a plaque inside the cabin bearing the JPM logo.
Chin says it’s not always cars that cost millions that he looks at, as he has asked his staff to source a Perodua Kancil because he believes it to be a future collectors’ item. If you’re curious about what cars he has in his collection, check out JPM Collection’s Instagram page.
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It’s like collecting thoroughbred horses, but they’re all locked up in the stables & not allowed to run freely.
if run freely then kantoi by tax agency woh
The collector mentioned about his hope of bringing some of his collection to SIC for driving on the track.
thoroughbred horses does not increase in value the older it becomes, unlike collectible cars and motorcycles.
Just look at the 2020 and 2021 price differences of cars like Toyota Supra, Lancer Evo9, Mazda RX-7 FD3S. Even cars like Satria GTi has significantly increased in value from 2020 to 2021.
Motorcycles, especially 1980s and 1990s two-stroke engined ones, are also currently skyrocketing in values all over the world
Even older thoroughbred horses have some value because they’re used to breed the next generation of thoroughbreds.
better than somebody still typing on keyboard and giving his 2 cents which is probably his entire networth
If you think that coffee people like us are worth their 2 cents each, then welcome to the club.
exotic cars and bella are favorite past-time toys for playboy
this dude did the same for his enzo. duty not paid. Helang dan pipit.
don’t let Vin Diesel know about this car otherwise he will release the beast by driving the car building to building.
If the reason JP purchased the car in Singapore was to avoid Malaysia’s AP, why not just buy/register it in Europe or some place with low/zero taxes like Monaco (though he has to live there)? Then, won’t he able to actually drive it as well? Right now in Sg, it can’t be driven on a public road. But seeing that it is a collector’s car, driving it might harm resale value.
You think he doesnt have cars overseas?
Okay I admit. He got me beaten. Time to get daddy reelect me as MB of some other place.
I collected hotwheels….still searching for Brian’s Supra
pls la.. ppl can collect and using their own money to collect.. we just enjoy it la.. no need to sour here and there la.. not using your money also
While you’re not totally wrong to say so, these wealthy collectors are just the minority of car fans. The majority have only sufficient money to buy the best they can afford as means of personal transportation for most of the time.
Dont call yourself a car collector if you buy cars just to gain from resell them and never drive them.
Who is JP Chin?