David Lee, the owner of the $300 million watch and investment empire Hing Wa Lee Jewelers, also possesses a car collection valued at over $50 million, featuring some of the world’s rarest vehicles.
Lee’s impressive collection is stored in an unassuming garage beneath a shopping plaza, located 40 minutes from downtown Los Angeles. Among his prized models are cars from Rolls-Royce, Pagani, Porsche, and Mercedes-Benz.
“At 29, I bought a Diablo VT, but it was always in the shop,” Lee shared during an interview in Los Angeles. “I didn’t get to enjoy the car, so I bought a Ferrari 355 Spyder. Since then, I have focused on collecting Ferraris. I just had a love for them.”
A modest 51-year-old father of two, Lee is a familiar face at the world’s top car shows, hosts exclusive dinners for Chopard in Geneva, travels to Asia and the Middle East to visit clients, and enjoys drives with friends who own Koenigseggs.
Despite having the means to acquire any car, Lee admits it can become monotonous. “I thought when I got certain cars, I would be the happiest. And I was, for a few years,” Lee explains. “But I started to get tired of it. With hyper-cars, if you have money and you present yourself well to the ownership, you can buy a car. A lot of people have them.”
Traditionally, high-end car collectors have gone to great lengths to preserve the original specifications of their cars. Car shows and historic rally races typically emphasize that vehicles should remain unaltered, including retaining original bolts, to maintain authenticity and value.
However, a year ago, Lee purchased a black 1972 Dino for $260,000 and spent over $1 million to update it, a practice known among enthusiasts as “outlawing.” This project, which took more than 3,000 hours over a year with Moto Technique, a body shop in Surrey, England, resulted in the creation of the Monza 3.6 Evo.
The Dino, introduced by Ferrari in the late 1960s and early 1970s, was designed as an affordable sports car but was often dismissed by Ferrari purists due to its higher production numbers, small engine, and modest 192 horsepower. It was so distinct from Ferrari’s usual offerings that it was marketed simply as “Dino,” without the Ferrari badge.
Lee is not the first to modify a special car. Singer, for instance, has been restoring Porsche 911s for upwards of $600,000, following the trend set by private individuals who have been “outlawing” classic cars for years. Lee was inspired to modify his own car after a friend invited him to join a drive in his heavily altered 1971 Porsche 911 along California’s Highway 2. Realizing he didn’t have a car from that era that could keep up, Lee decided to take action.
Lee’s modified Dino, though not extremely fast, is quicker and more precise than the original. Its low profile makes it easy to step over the door to enter; the steering and braking are assisted by semi-automatic systems. The hardtop roof can be removed and fits neatly behind the two cockpit-style seats.
With a V8 engine now producing 400 horsepower, compared to the original’s 192 hp, Lee’s Dino has caught the attention of auction experts like Hagerty’s Jonathan Klinger, who believe the Dino has significant investment potential.
David Lee’s Monza 3.6 Evo, a modified Ferrari Dino, stands next to his original ’73 Dino 246 GTS. Ferrari has yet to officially see the vehicle. The brand has had some history with Lee, who claims he was denied the opportunity to buy a LaFerrari Aperta due to not being a preferred customer.
Ferrari, when asked for comment, emphasized the importance of authenticity in the classic car market. In an emailed statement, the company highlighted the Ferrari Classiche certification process, which ensures the authenticity of historic cars and generally increases their sale value, granting access to prestigious official events organized by Ferrari.
