The heart won over the usual guidelines for buying a used car, but Scott Hutton's 1985 Mercedes SL500 has been worth it every morning he commutes to work.
When he purchased his car in 2010 from a Dubai second-hand car salesman, Scott Hutton was assured it had just been brought in from the Far East. However, the auto trader was at a loss to explain the 2001 Burj Al Arab sticker on the windscreen. Alarm bells might have been ringing in his ears, were it not for the louder twanging of Cupid's bow as the 37-year-old Glaswegian lawyer with Kilpatrick Townsend dreamily sized up the classic 1985 Mercedes SL500 5.0L V8.
"It was sitting in the forecourt with the hard top on when I saw it and I asked about the condition of the soft top, which the dealer explained was 'perfect' and, after I demonstrated how to remove the hard top, we discovered the soft top was covered in sand and had more holes than Swiss cheese," he exclaims. However, love is blind and, of course, Scott still justified the purchase, as there's less use for a soft top here in the UAE than somewhere with a less harsh climate.
He continues: "I think it's the most attractive car on the road. I don't remember seeing my first one, but I guess growing up in the 1980s I would have seen a few. I knew the car well from when I saw Eddie Murphy driving one in Beverly Hills Cop and it starred in the TV shows Dallas and Hart to Hart. I've always loved Mercedes and I think this remains one of their best. I admire even older styles too, such as the Pagoda, but it's a tad too rich for my tastes."
However, Scott remains quintessentially British at heart and could be swayed by a marque born back in Blighty. "I sometimes hanker after an E-Type Jaguar. A friend's father owned one when I was in my late teens. It was kept wrapped up in the garage and I only ever got to see it once, but it was stunning, resplendent in British Racing Green. It's a very different car to the Mercedes though, as I think of my SL as a modern classic. The E-Type is much older and I think you are getting into the realm of serious collectors who only take the car out on the odd occasion. I drive this car every day," he explains.
Admittedly nervous when he first saw the car, Scott was under no illusions that buying a classic car would be anything other than expensive, and has been proven right over the first two years of owning it.
"I've spent a fair bit to maintain it, but I would never consider modifying this car. I think it's great as it is and the only adjustments are to keep the engine and other moving parts in good condition. Just looking at it makes my daily commute to work an absolute pleasure. It's smooth and pretty quiet with enough guts to get you out of trouble, if required, and just loud enough to hear the V8 gurgle," he says.
Despite the refined elegance of the Mercedes, it doesn't exclude him from the chaos that too often ensues across the UAE's roads. A Land Cruiser, driven by a Moroccan on the way to Friday prayers with his family, hit him side-on. "After the collision he immediately left to drop his family off at the mosque. He proved to be an honest person and when he came back I carefully inspected the damage.
"I've heard this car referred to as 'the last of the Mercedes tanks' and they were clearly right about this solid little beast, which weighs close to two metric tons, heavy for a two-seater. The incident only put the smallest ding on my wheel arch, whereas every panel on the side of the Land Cruiser had to be replaced," Scott says proudly.
Having moved to Dubai with his wife, Emma, more than four years ago, Scott now has an 18-month-old son, Cooper, who waits for his daddy to pull up every day and seems to share the love for the SL. "When I come home, Emma brings him to the gate to wait for me. He can spot my car from a long way away and starts waving. It's very cute as he then climbs in with me and has a chat - maybe we will sit and speak in more detail about the car one day.
"He also insists on trying to pull the controls off the radio every time he gets in, which I'm pretty sure will just add to the costs of a classic at some point in the future," laughs Scott. It looks like this pretty little tank might just stay in the Hutton family for some time longer.
The smuggler
Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple.
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.
Khouli conviction
Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.
For sale
A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.
- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico
- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000
- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950
Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
F1 2020 calendar
March 15 - Australia, Melbourne; March 22 - Bahrain, Sakhir; April 5 - Vietnam, Hanoi; April 19 - China, Shanghai; May 3 - Netherlands, Zandvoort; May 20 - Spain, Barcelona; May 24 - Monaco, Monaco; June 7 - Azerbaijan, Baku; June 14 - Canada, Montreal; June 28 - France, Le Castellet; July 5 - Austria, Spielberg; July 19 - Great Britain, Silverstone; August 2 - Hungary, Budapest; August 30 - Belgium, Spa; September 6 - Italy, Monza; September 20 - Singapore, Singapore; September 27 - Russia, Sochi; October 11 - Japan, Suzuka; October 25 - United States, Austin; November 1 - Mexico City, Mexico City; November 15 - Brazil, Sao Paulo; November 29 - Abu Dhabi, Abu Dhabi.
THREE
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Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
Monster Hunter: World
Capcom
PlayStation 4, Xbox One
UAE%20medallists%20at%20Asian%20Games%202023
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
COMPANY%20PROFILE
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
MATCH INFO
Argentina 47 (Tries: Sanchez, Tuculet (2), Mallia (2), De La Fuente, Bertranou; Cons: Sanchez 5, Urdapilleta)
United States 17 (Tries: Scully (2), Lasike; Cons: MacGinty)
