KITCO NEWS -- Gold, often a symbol of luxury, has done it again! Its lustrous yellow tint has attracted the attention of Hong Kong billionaire Stephen Hung, who recently commissioned luxury automaker Rolls-Royce to make him not one but two gold-covered Phantom vehicles.
Hung is behind the company's biggest order in history -- he commissioned a fleet of 30 Rolls-Royce motor cars for his luxury hotel in Macau.
Speaking with Kitco News, Rolls Royce's head of communications, Gerry Spahn, says that although he cannot give exact pricing on each vehicle, "They are 7-figure cars, more than $1 million."
What's more, aside from the gold used in the interior of the cars, the figurine sitting at the hood of every Rolls-Royce -- known as the Spirit of Ecstasy -- is itself made of gold. "It's an 18-carat Spirit of Ecstasy," he explained. "Between the Spirit of Ecstasy and the Rolls-Royce logo ... you're looking at the use of around 97 grams of gold."
At current prices, that amounts to almost $3,000 just for some features on the hood of the car.
This article is commentary by an independent contributor. At the time of publication, the author held TK positions in the stocks mentioned.