Build Your Own Rolls-Royce: Inside the Arcadia Droptail Roadster, the Latest From the Company’s Coachbuild Operation
3 min
Rolls-Royce’s Bespoke division is exclusivity personified, and the highest rung in that ladder is Coachbuild—which goes far beyond selecting unique colors or interior finishes and gives customers the chance to help design their own new cars.
The first of the Coachbuild cars was the Phantom-based Sweptail, hand-built over four years, reportedly for Hong Kong businessman Sam Li. It has a dramatic fastback roof that was a hit when revealed to the public in 2017. Rolls didn’t confirm the car’s cost, but some reports said more than US$12 million. The Sweptail has been spotted on the road in Europe.
Rolls-Royce
The Boat Tail, shown (above) in 2021 and built on the Architecture of Luxury platform with Phantom V12 power, was the first commission from a consortium of three couples. It’s a unique convertible with a carbon-fibre parasol that opens to shade its occupants during al fresco parties. Beyoncé and Jay-Z are reported Boat Tail owners. Argentine footballer Mauro Icardi is said to be another keeper of the keys. The purchase price of these cars is around US$28 million, sources say.
There will be a total of four Droptail roadsters created, and these now include the Amethyst Droptail and the La Rose Noire Droptail, each with unique rear-deck treatments and personal detailing throughout. The newest, third commission is Arcadia Droptail, which will come with a removable hardtop (and no soft top). The car will be delivered to an international client in Singapore, said Rolls’ Americas spokesman, Gerry Spahn. The price tag is likely in Boat Tail territory.
Arcadia was known in Greek mythology as a place of “Heaven on Earth.” The one-off car has a vivid recessed wood-panelled rear deck that took 8,000 hours to create, according to the company, and recalls vintage Chris Craft power boats—or woodie station wagons. It’s in left-hand drive, reportedly to better facilitate its use around the world. Rolls used a 3-D environment to show the client how the car would look in various locales.
“Coachbuild commissions like Droptail Arcadia are immediately the classic Rolls-Royce collectibles. Coachbuild is more than Bespoke, it’s the ultimate personal statement,” says Martin Fritsches, president of Rolls-Royce Motor Cars in North America.
Alex Innes, head of Coachbuild Design, added (in a statement) that the Arcadia is “one of the most faithful expressions of an individual’s personal style and sensibilities we have ever created within the Coachbuild department.”
Design inspiration for the Arcadia came from sky gardens in Singapore, Indonesia, and Vietnam, in addition to British “biometric” architecture.
The white paint is infused with aluminium and glass particles to give it depth and shine. The lower sections of the Arcadia Droptail are in carbon fibre, painted silver. The wood on the rear panel is mirrored on the dashboard (in Santos Straight Grain veneer), door linings, and central armrest. The wood pieces were mounted on stiff bases developed using carbon-fibre layering techniques derived from Formula One racing.
Rolls-Royce
The hardtop, in a contrasting dark colour, slants down to a short rear greenhouse, giving the car a racy look. The doors are rear-hinged, with prominent chromed handles. The nose and grille are somewhat rounded, with narrow horizontal headlights, yielding a more aerodynamic prow than is customary in Rolls-Royce history.
The dash’s crown jewel is a clock with a face that took five months to assemble, after two years of development. Its raw metal geometric guilloche pattern has 119 facets. Rolls describes it as “the most complex Rolls-Royce clock face ever created.” The hands are partly polished and partly brushed, and have 12 hand-painted “chaplets” (hour markers) that are only 0.1 millimetres thick.
Many automakers are establishing bespoke divisions, but Rolls-Royce is, per tradition, taking it further than others.
Copyright 2020, Dow Jones & Company, Inc. All Rights Reserved Worldwide. LEARN MORE
Pure Amazon has begun journeys deep into Peru’s Pacaya-Samiria National Reserve, combining contemporary design, Indigenous craftsmanship and intimate wildlife encounters in one of the richest ecosystems on Earth.
Australia’s housing market defies forecasts as prices surge past pandemic-era benchmarks.
Selloff in bitcoin and other digital tokens hits crypto-treasury companies.
3 min
The hottest crypto trade has turned cold. Some investors are saying “told you so,” while others are doubling down.
It was the move to make for much of the year: Sell shares or borrow money, then plough the cash into bitcoin, ether and other cryptocurrencies. Investors bid up shares of these “crypto-treasury” companies, seeing them as a way to turbocharge wagers on the volatile crypto market.
Michael Saylor pioneered the move in 2020 when he transformed a tiny software company, then called MicroStrategy , into a bitcoin whale now known as Strategy. But with bitcoin and ether prices now tumbling, so are shares in Strategy and its copycats. Strategy was worth around $128 billion at its peak in July; it is now worth about $70 billion.
The selloff is hitting big-name investors, including Peter Thiel, the famed venture capitalist who has backed multiple crypto-treasury companies, as well as individuals who followed evangelists into these stocks.
Saylor, for his part, has remained characteristically bullish, taking to social media to declare that bitcoin is on sale. Sceptics have been anticipating the pullback, given that crypto treasuries often trade at a premium to the underlying value of the tokens they hold.
“The whole concept makes no sense to me. You are just paying $2 for a one-dollar bill,” said Brent Donnelly, president of Spectra Markets. “Eventually those premiums will compress.”
When they first appeared, crypto-treasury companies also gave institutional investors who previously couldn’t easily access crypto a way to invest. Crypto exchange-traded funds that became available over the past two years now offer the same solution.
BitMine Immersion Technologies , a big ether-treasury company backed by Thiel and run by veteran Wall Street strategist Tom Lee , is down more than 30% over the past month.
ETHZilla , which transformed itself from a biotech company to an ether treasury and counts Thiel as an investor, is down 23% in a month.
Crypto prices rallied for much of the year, driven by the crypto-friendly Trump administration. The frenzy around crypto treasuries further boosted token prices. But the bullish run abruptly ended on Oct. 10, when President Trump’s surprise tariff announcement against China triggered a selloff.
A record-long government shutdown and uncertainty surrounding Federal Reserve monetary policy also have weighed on prices.
Bitcoin prices have fallen 15% in the past month. Strategy is off 26% over that same period, while Matthew Tuttle’s related ETF—MSTU—which aims for a return that is twice that of Strategy, has fallen 50%.
“Digital asset treasury companies are basically leveraged crypto assets, so when crypto falls, they will fall more,” Tuttle said. “Bitcoin has shown that it’s not going anywhere and that you get rewarded for buying the dips.”
At least one big-name investor is adjusting his portfolio after the tumble of these shares. Jim Chanos , who closed his hedge funds in 2023 but still trades his own money and advises clients, had been shorting Strategy and buying bitcoin, arguing that it made little sense for investors to pay up for Saylor’s company when they can buy bitcoin on their own. On Friday, he told clients it was time to unwind that trade.
Crypto-treasury stocks remain overpriced, he said in an interview on Sunday, partly because their shares retain a higher value than the crypto these companies hold, but the levels are no longer exorbitant. “The thesis has largely played out,” he wrote to clients.
Many of the companies that raised cash to buy cryptocurrencies are unlikely to face short-term crises as long as their crypto holdings retain value. Some have raised so much money that they are still sitting on a lot of cash they can use to buy crypto at lower prices or even acquire rivals.
But companies facing losses will find it challenging to sell new shares to buy more cryptocurrencies, analysts say, potentially putting pressure on crypto prices while raising questions about the business models of these companies.
“A lot of them are stuck,” said Matt Cole, the chief executive officer of Strive, a bitcoin-treasury company. Strive raised money earlier this year to buy bitcoin at an average price more than 10% above its current level.
Strive’s shares have tumbled 28% in the past month. He said Strive is well-positioned to “ride out the volatility” because it recently raised money with preferred shares instead of debt.
Cole Grinde, a 29-year-old investor in Seattle, purchased about $100,000 worth of BitMine at about $45 a share when it started stockpiling ether earlier this year. He has lost about $10,000 on the investment so far.
Nonetheless, Grinde, a beverage-industry salesman, says he’s increasing his stake. He sells BitMine options to help offset losses. He attributes his conviction in the company to the growing popularity of the Ethereum blockchain—the network that issues the ether token—and Lee’s influence.
“I think his network and his pizzazz have helped the stock skyrocket since he took over,” he said of Lee, who spent 15 years at JPMorgan Chase, is a managing partner at Fundstrat Global Advisors and a frequent business-television commentator.
A divide has opened in the tech job market between those with artificial-intelligence skills and everyone else.
A bold new era for Australian luxury: MAISON de SABRÉ launches The Palais, a flagship handbag eight years in the making.
