You Can Now Buy Shares In Your Favourite Classic Cars
A new app called Rally Rd. allows users to invest in vintage cars by buying shares in the same way you would when trading stocks. Rather than investing in corporations, traders can invest in classic cars which have been bought by Rally Rd.
To date, those include a Jaguar XJ220, a Lotus Esprit and an E36 BMW M3 Lightweight. The company is quick to point out that owning shares in the cars does not entitle you to drive them; this is strictly a money-making enterprise.
The cars are owned and maintained by RSE Collection LLC, a subsidiary of the trading company. Rally Rd. buys cars that it expects to appreciate in value, which in turn increases the value of the shares.
The more money is invested, the more cars can be bought. The more cars the company owns, the more the value of the overall stock increases as the cars become more valuable. The more that happens, the more valuable the shares get. The sky would be an unambitious limit for this ingenious project.
Individual shares start at around £38 ($50). The business is regulated by the US Securities & Exchange Commission. Rally Rd. provide ownership history, photos, videos and market prices for comparable assets on each available vehicle.
This is a company that does not take its classic car maintenance lightly, which ought to be music to the ears of potential investors. The cars are kept under 24/7 surveillance in a special climate-controlled facility.
In order to keep the mileage down (and therefore the value up) driving them is strictly only allowed for maintenance purposes. Rally Rd. says it is working on a scheme which would allow investors to visit the collection and potentially even drive selected models at events.
Anyone over the age of 18 with a US Social Security number can invest. The company is expanding rapidly; it has already made its way into 32 states and is growing by the day.
The Rally Rd. app is available on the App Store. Trade responsibly.