You Can Now Easily Own Blue-Chip Collector Cars
Ever wondered what it would be like to own a collector Ferrari? Well now you have the chance… the chance to own a piece of one anyway. There is a first-of-its-kind app being released that will allow users to purchase shares of a collector vehicle like buying stock shares in a company.
With investments in classic collector cars outperforming other assets like gold, art and real estate, it seems like a perfect time for this investment service to make its entrance in to the market.
The app is called Rally Rd and they are making it possible for just about anyone to invest in the collector car market. You no longer need to hand over hundreds of thousands of dollars, or even millions, to be an owner of a high-end collector car. Rally Rd is utilizing blue-chip collector cars as the initial investable asset class, but more are sure to follow.
Each vehicle that is chosen to become an investible asset by a team of collector car experts. They are chosen on factors they believe make each vehicle a sound investment like rarity, significance, history, originality, value, condition and additional data-driven factors.
The cars are then insured, securely stored in a climate-controlled facility and monitored 24/7 in order to protect the investment vehicles. There is also a dedicated team that is responsible for maintaining and repairing the vehicles.
Shares for these vehicles will range with the overall value of the vehicle, but many shares are said to start around $50 each. All the information about the car will be available on the app in story form. The story will include photos, videos, records, receipts and provenance. There is also information in the app that shows the market price for a comparable asset and other market trend resources.
There are many other details about this new investment model on the Rally Rd FAQ page. One question quickly came to mind as that was, “Are these cars driven?” The answer is no. The only time they are driven is for maintenance purposes and they are only handled by qualified professionals.
They do mention that they are planning on allowing investors to visit the collection and participate in unique driving experiences with similar cars starting in 2018. In addition, a 24-hour live feed from the state-of-the-art storage facility will be available so you can log in and keep an eye on your investment at any time. This will be a cool feature to use when you wish to show off your new investment to your buddies.
Each vehicle will technically be owned by a subsidiary company, RSE Collection, LLC. When you invest in a car, you become a shareholder in a specific sub-company that owns a specific asset. To ensure trust and safety, Rally Rd has partnered with FINRA registered broker-dealers who confirm investor identities, issue shares, and oversee all transactions. Rally Rd intends on providing a wide range of vehicle investment opportunities so there will be options for different tastes, time horizons and investment strategies.
The CEO, Christopher Bruno, explains to FOX News in this video how Rally Rd works and discloses that Rally Rd invests 2-10% into each vehicle themselves. It’s a way to show users that they believe in what they do and are also looking forward to the dividends.
No longer do you need to write a 6 to 7 figure check and pay outrageous 10-20% auction premiums or broker fees at an auction house. Instead, you can just fire up the app, take a look around, find a car of your dreams and invest. While you might not be able to cruise it around the block, you certainly will have bragging rights.
Tags: Classic Car Investment, Collector Cars, Rally Rd
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