Nicolas Cage, Compulsive Spender

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They are among more than a dozen other homes Cage has bought in the last decade or so, in places like Newport Beach; Venice Beach; Malibu; San Francisco; Middletown, Rhode Island; New York; and Las Vegas. There was a castle near Bath, in England, an 11th-century estate in Etzelwang, Germany, and not one but two Bahamian islands, which Cage bought in their entirety. (Movie stars, after all, like privacy, so long as you’re paying attention to them onscreen.)

The bulk of those properties have been sold or are in the process of being sold.

Cage also had a serious car and motorcycle habit. In June 2004, he owned 18 motorcycles and 30 cars, a member of his entourage says. And that was on the low end: At another point, two sources say, the car total was around 50.

In 1997, Cage spent nearly half a million dollars on a Lamborghini Miura SVJ that had been owned by the shah of Iran and was confiscated from the Imperial Garage during the 1979 revolution. Never mind that at the time he bought it, the car was trading for an estimated $250,000 to $300,000. “He didn’t care,” says a close source. “Nic at an auction is dangerous. There’s just no limit to what he’d spend.” He kept the cars in a hangar at the Santa Monica Airport, where neighbors with their own hangars included Jerry Seinfeld, Tom Cruise, and Charlie Sheen.

The most bizarre display of Cage’s conspicuous car consumption? A 1955 Jaguar D-Type that he decided to put on exhibit in his billiard room at the Bel Air house, where it was lit from above, like something out of a car dealership. (There was also at least one expensive motorcycle sitting in the foyer, according to three people who visited the house. “It was an eclectic way of decorating,” one shrugs.)

Nor did Cage limit himself to vintage cars, which are typically better investments than new ones. “He had one of every thing that was new and fantastic,” says one source. “Ferraris, Lamborghinis, Rolls Royces, Bentleys. If Aston Martin was coming out with a new model, chances are, he would have it.” At one point, the source says, Cage was snapping up cars at a rate of about “one per month.” For a time, the actor also employed a full-time car mechanic, whose job was solely to service his cars, two sources say.

Cage’s penchant for acquisition was aided by the fact that for years, many of the things he spent money on appeared to be good investments. The vintage cars he bought frequently doubled in value, so Cage made a lot of money buying and selling them. (In his case, most sales were followed by more purchases). Real estate was seen as an even safer bet. According to a source from his inner circle, when the first few houses he bought began to accrue in value, Cage began to borrow heavily against them to buy more properties. Unlike the cars, though, he didn’t do nearly enough selling, which placed him in a particularly precarious position when the market began to collapse over the last two and a half years.

And then there were two yachts, at least, and the Gulfstream jet.

Until he sold them in 2002 for a reported $1.6 million, Cage was also a voracious comic-book collector. The most prized of these included Action Comics #1 (which contained the first appearance of Superman), and Detective Comics 38, (which was the first strip in which Batman’s sidekick Robin appeared). For safekeeping, Cage housed them at his Bel Air pad in museum-like glass cases.

Three people who visited his house also report seeing shrunken heads. None is sure whether they were actual people’s heads (which are illegal to import) or simply those of animals (which generally are not). Still, one thing was for certain. “They were pretty weird,” says a source.

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