iPhone app allows users to invest in classic cars like the stock market

0
41


Rally Rd. is an that allows to in vintage cars, buying shares similar to the way you would in the . Basically, Rally Rd. is an investment firm for classic cars rather than corporations. Instead of putting money into a business, users put money into that are have been acquired by Rally Rd. Models include a Jaguar XJ220, a Lotus Esprit and an E36 BMW M3 Lightweight. Unfortunately, while you may own a slice of the pie, you can’t eat it.

All the cars are bought and maintained by a subsidiary, RSE Collection LLC. Each car that’s purchased by the Rally Rd. team is expected to increase in value, increasing the value of each share. Individual shares start around $50. The entire business is regulated by the U.S. Securities & Exchange Commission. Rally. Rd. will provide ownership history, photos and videos, and market prices for comparable assets on each available vehicle.

The vehicles are kept under 24/7 surveillance in a special climate-controlled facility. Typically, the more miles a car has, the less it’s worth, and since the cars are considered an investment and not just cool classics, the only time they are driven is for maintenance purposes. Rally Rd. does say it’s working on a way to allow investors to come visit the collection or even drive similar models at select events.

Anyone over age 18 with a U.S. Social Security number is free to invest, though Rally Rd. is currently only available in 32 states. The company expects to expand that number in the future. The app is currently only available for iPhones.

Such investing is not new. For example, we told you about the IGA Automobile Fund way back in 2011, guided by Pink Floyd drummer and renowned car enthusiast Nick Mason, and there are others. But the app adds a level of convenience to Rally Rd.’s business model.

Of course, there’s no guarantee that you’ll make money on these cars. Just like with regular stocks, investors need to research each car to try and read the value for themselves.

Related Video:



Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here