Peter Klutt Net Worth

What is Peter Klutt's net worth?

Peter Klutt is a Canadian entrepreneur, automotive expert, and television personality who has a net worth of $20 million. Peter Klutt is best known as the founder of Legendary Motorcar Company (LMC), one of North America's premier collector car restoration and sales firms. Since launching LMC in 1985, Klutt has built it into a global destination for high-end restorations, rare vehicle sales, and automotive media production. The company's sprawling 75,000-square-foot facility in Halton Hills, Ontario, houses a showroom of roughly 100 classic and exotic cars, along with advanced body, mechanical, and fabrication shops. Klutt's reputation for craftsmanship, authenticity, and passion has made him one of the most respected figures in the collector car industry, and his work has been recognized by the Canadian Motorsport Hall of Fame for contributions to preserving automotive heritage.

Early Life

Peter Klutt's fascination with cars began in his teens in Ontario, Canada. At 15, he purchased a wrecked 1971 Ford Mustang Mach 1 for $200 and rebuilt it with help from his father, a welder. After investing $600 in parts, he sold the finished car for $2,700, earning a $2,000 profit and discovering a lifelong passion for restoration. During high school and university, he continued buying, repairing, and selling cars to pay his tuition.

Klutt earned a degree in Management Economics from the University of Guelph, combining business training with his automotive instincts. After graduation, he decided against a traditional desk job and instead turned his hobby into a full-time business. In 1985, at about 23 years old, he founded Legendary Motorcar Company. What began as a one-car garage soon expanded into a full-fledged enterprise as Klutt gained a reputation for meticulous restorations and market insight.

Legendary Motorcar Company

Legendary Motorcar's success is rooted in Klutt's vertically integrated approach to the collector car market. The company buys, restores, sells, and consigns rare vehicles while offering in-house services for collection management, parts production, and long-term storage. Each division operates under the same roof, allowing LMC to maintain precise quality control. By the early 2000s, the company's growth prompted a move into a custom-built 75,000-square-foot complex featuring showroom space, restoration bays, conference facilities, and even a video studio for its television productions.

LMC's restoration work has been featured at major auctions and concours events, with many of its cars earning top awards and record-breaking sale prices. Its projects have included everything from vintage American muscle cars to multimillion-dollar Ferraris and Cobras. In 2017, the Canadian Motorsport Hall of Fame honored the company for preserving automotive history and supporting motorsports culture.

(Photo by Tony Bock/Toronto Star via Getty Images)

Television and Media Career

Klutt gained international recognition through television. He co-created and hosted the long-running series "Dream Car Garage," which aired for 11 seasons beginning in the early 2000s. Filmed at the LMC facility, the show chronicled the restoration and testing of rare performance cars, offering viewers behind-the-scenes access to the collector world. Klutt's on-screen expertise and charisma helped make the series a hit among enthusiasts.

After "Dream Car Garage," he launched "Legendary Motorcar," a reality-style program following Klutt, his son Gary, and the LMC crew as they tracked down, restored, and sold exceptional vehicles. The series, distributed through Discovery Velocity and BNN, showcased the company's day-to-day operations and introduced LMC to a wider audience of collectors and investors. Klutt has also appeared at numerous automotive events and in publications like Autostrada and Hagerty, where he shares insights on collector car values, trends, and investment strategies.

Family and Personal Life

Peter Klutt is married to Vicki Klutt, and their two sons, Gary and Ryan, are both involved in the family business. Gary Klutt is a professional driver in the NASCAR Pinty's Series and was named Rookie of the Year in 2015. He also co-hosts the "Legendary Motorcar" television show with his father. Ryan works within the company's restoration operations, continuing the family's hands-on approach to car culture.

Peter's personal and professional lives are uniquely intertwined. He built his private home directly behind the LMC facility in Halton Hills, allowing him to live steps away from his workshop and showroom. The property, located at 8220 Fifth Line North, functions as both his residence and headquarters, embodying his lifelong commitment to the automotive world.

Car Collection

Over the decades, Klutt has curated and restored an extraordinary range of vehicles. His company has handled some of the rarest and most valuable automobiles in existence, including the Shelby Cobra chassis CSX2196—Ken Miles' legendary 427 "flip-top" prototype—and numerous original Shelby Mustangs and Cobras. LMC has also restored high-profile European sports cars such as the Ferrari 275 GTB/4 "four-cam," valued around $4 million after restoration.

In 2015, Klutt auctioned several vehicles from his collection at the Pebble Beach Concours d'Elegance through Gooding & Company, including a Ferrari Dino 206 SP estimated between $2.6 and $3 million and a 1966 Shelby 427 Cobra valued at up to $1.4 million. These sales demonstrated both the quality and the financial magnitude of the vehicles that pass through his hands.

Klutt has often remarked that what excites him most is "the hunt"—tracking down rare cars, verifying their history, and bringing them back to life. This curiosity and craftsmanship have helped make Legendary Motorcar not just a business, but a hub for automotive artistry and preservation.

Legacy

Today, Peter Klutt stands as one of the leading figures in the collector car world. Through Legendary Motorcar, his television work, and his hands-on expertise, he has elevated Canada's standing in the global classic car market. Whether restoring an iconic Shelby, showcasing rare Ferraris, or mentoring the next generation through his sons and his shows, Klutt continues to embody the intersection of business, craftsmanship, and lifelong passion for the automobile.

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