How business, doctors and journalists prey on your food anxieties I
How business, doctors and journalists prey on your food anxieties I
How business, doctors and journalists prey on your food anxieties I
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i<br />
Agile brokers are makingfortunes off the spreads<br />
between luxury-car, prices around the world .<br />
Carbitrage<br />
BsNinaMunk '<br />
A'ttrtrnurv .rcrvI lµ/aqllal Irm'( .harnkrcmS4?,972Lm- Saa,hcsass,havcdoublcdinca .hof<br />
ushipinTor<strong>on</strong>toaC,und(henke intapmhto1S73`0 .Trenzsayshe thcpastlourycars .<br />
LimiredV-8liststoitltecqulvalentit mmri60%othismetaltoGnmans, Thercareplenooff, emupl .ying<br />
US52R,125 .Acrosxrhebordeqintltc thch,ilancetobuccrsinRussia,Po- intciromttn'yrpriespreads .Jlagx-<br />
But}ulnsuburboPWestSeneca,thc I<str<strong>on</strong>g>and</str<strong>on</strong>g>,theCicchRapublic,SuudrA(ri- zineslikeGermam%sAuroMorornmd<br />
samc rnodcl tri¢h identical opti<strong>on</strong>s ca,'llukev, Zairc <str<strong>on</strong>g>and</str<strong>on</strong>g> Kaeakhstan . 9portorepackedssithadvertixmenu<br />
aan'ies a sdck¢ pricc of 532,590 .<br />
Across tlte ocean, in Munich, Cemtuny,<br />
the price is Yb6,lA)0,<br />
Ondtescspreads dealers rvith inrernad<strong>on</strong>al<br />
mnnectiuns are rruking a<br />
bundle Tepical is WolWng Tnn2<br />
Bnsed in Weiherlrammer, about 112<br />
miles no¢h of \'tunich, Trenz's<br />
Americyn Morors Trenz GmbH sells dlc Gmnd Chcrokee i<br />
.imircd fisr<br />
aUaut 546,3§2, 17% Ic% than the<br />
official pdcn in Ccrntanp . StocHng<br />
almost e~dueivcly Iccps nnd Vopagar<br />
minitnns. Ticnz latt vcar sold 1,000<br />
nqv curs <str<strong>on</strong>g>and</str<strong>on</strong>g> 200 uscd ars . T¢nc<br />
says he ntadc abaut $3 mflli<strong>on</strong>, rnt<br />
saks of 536 niilll<strong>on</strong> .<br />
Hosv can he wdercut thc other<br />
dealas? Trcnz Is a cW'bitrager. Bypacsing<br />
Chryslcr dLstribud<strong>on</strong> ehanuds,<br />
lie buys ]ceps whcmver thcy arc<br />
cheapest, paytng trtail but knmvmg<br />
he can sell them for much ntore .<br />
These days nccchmpesr placcis Canada,<br />
whcrc tile dautzchc mark has<br />
dirnbcd hv 58%agvnst the Canadian<br />
dollar in the past four ycars .<br />
By tdeph<strong>on</strong>c <str<strong>on</strong>g>and</str<strong>on</strong>g> fax, Tmnz tap<br />
into his neovork ofClnvsLer dealets in<br />
Ontano, Qaubec <str<strong>on</strong>g>and</str<strong>on</strong>g> Nova Scntia .<br />
Latcfy Itc's paid a Carudiar dcalcr<br />
stLcker, or$28,125, forzGr<str<strong>on</strong>g>and</str<strong>on</strong>g> Cberokee<br />
[imited . Transp<strong>on</strong>atinn <str<strong>on</strong>g>and</str<strong>on</strong>g>'<br />
Gcnnunv's 10$durynnd 7 5°A'i s21cs tas<br />
add 510,000 to tlte msc . Trenz irr<br />
stalls nrn' lighrs, adjusrs the elecnical<br />
mtcm <str<strong>on</strong>g>and</str<strong>on</strong>g> chanb's the tires m ntect<br />
C rm:m vchidr- y c-ihcad<strong>on</strong>s <str<strong>on</strong>g>and</str<strong>on</strong>g><br />
oserodes a mmputcr chip that limits<br />
the North Americvt Chcmkec's prp<br />
sp ee d to 112 miles an hour. Finalp,<br />
Trcnz sats aside S I, L00 pervehicle to<br />
cnrer svarrann , costs .<br />
All this brinp tile nail cost uf<br />
al}'ering rlnterican unliq'rrhidcs <str<strong>on</strong>g>and</str<strong>on</strong>g><br />
miuinns at big discuunrs .<br />
/4rd'not just P<strong>on</strong>cncan cars- In<br />
Russia a nmv 52ai purehxscd duoagh<br />
an o1licYal nwv dealcr mns abnur<br />
$73,755, sersus S38,SOf1-beforc<br />
raxcs-in Gcmun)r . Wolfgang Vollath,<br />
managing dimcror of nznv's<br />
Moxow ol&e, says Russia's grav<br />
nrukct BM tVd~ale isntnsplashytelcvisum<br />
ads <str<strong>on</strong>g>and</str<strong>on</strong>g> ouudl his licensed dcaltrs<br />
10-to L<br />
Taiwan is a ha makct for gray<br />
marker Volvos, Maecdes <str<strong>on</strong>g>and</str<strong>on</strong>g> n+nvs .<br />
Thanks tn mriffs<str<strong>on</strong>g>and</str<strong>on</strong>g> caxes omt importcd<br />
luxury cars, a Volvo 850 Turlw<br />
Wag<strong>on</strong> thatretails at 533,550 in l .os<br />
16001 eely have to eumyete wilh Chryflm Eeelers . I have to be wmething beHr,<br />
uy . WolfgengTrem .Rborerirenr, m .chaniu altar leeysto mM German<br />
dneecv p,oa for $62,535 in T,dpci .<br />
7ne gmc ma*cr broker eiisscrosses<br />
(amde md thc CIS . loaking lor rhe<br />
mudels lie needs schiLe his Taimsi¢se<br />
partner druou up customas . Within<br />
¢n days of an oiilcr coming in, rhe<br />
cars arc delivcred to the dosest port,<br />
r adv Ra shipmcnt ro Tuipei .<br />
"1Ne'ce got this busincss dosvn tn a<br />
scicncq" tile brokcr' says. "I'd buy<br />
ten tlmes as munyMerccdes if I mu/d<br />
pmgram, svhich dupliares Chnslds<br />
oll3eial eanzntr . His serci¢ departmene<br />
in Weihcrhmnmar r'arrics so<br />
many Clnvsler spare pans (purcha>cd<br />
<strong>on</strong> the gray market) that o/rioal<br />
Gtrysler duulers often cnmt ro Trcnz<br />
flsr part .<br />
Manuf5crwvs arc nving to crack<br />
dmmt <strong>on</strong> tile gray nraka trade . Last<br />
fall ent instituted a pulio, asking that<br />
Canadian dealers make all pm