This new platform will allow folks to "invest" in classic cars.https://rallyrd.com/While I don't personally think that the rise in prices of classic/vintage/super rare cars in recent years is at all indicative of their true value (and thus not sustainable), but is more related to the overall rise of the stock market subsequent to 2008, I do think this platform could provide decent entertainment value if nothing else. As someone who used to read Motor Trend, Automobile, and Car and Driver as an 8 thru 12-ish year old (who recalls that the first 0-60 time I ever heard was 5.2 seconds as quoted in a country music song and recalls immediately that the Ford GT90 concept car had 720 hp), I plan to at least follow this concept, if not depositing any actual money onto their platform (which presently only includes an iOS app, no Android app, which seems absurd in the year 2018). -volfan84not really a car guy as of today, but was a big fan of the Viper as a 9/10 year oldno position in any classic car, just a 2008 Honda Accord coupe (V6, with a stick shift)
I'm a car nut, and I think this is a pretty terrible idea. Part of what fuels the vintage/rare car market is status. A rich dude can plunk down a couple hundred grand (or more) on something awesome, and he has the status of owning it. He can go down to his garage and look at it. He can show it to his friends that come by. On a really nice day, he can even take it out and enjoy the car. That is where some of the "value" lies for a buyer.Or, a bunch of people buy fractional shares in a similar car, which essentially goes into storage as a purely speculative investment. Then you just cross your fingers and hope the car market continues up so you can make a few bucks. There's no "value" in this type of ownership model.Long term, I don't think the car market is not going to perform as it has in recent years. What we're seeing today is a symptom of the concentration of wealth, at least at the high end. There is no other explanation for dropping $15M on a vintage Ferrari that's about as fast as a modern sport sedan. Sure, it's pretty, but how do you justify that valuation?I think eventually, the bottom will fall out. We're already seeing that millennials seem to be less interested in driving, and in material "stuff" in general. I'll be shocked if vintage cars continue to hold value once we're all in old people homes and they take over. ;)
And for those who have been on this board for a while:Will the valet parking attendant park my classic car certificate in front of the restaurant?GeeB
who recalls that the first 0-60 time I ever heard was 5.2 seconds as quoted in a country music songAlabama, I'm In A HurryDon't know whyI have to drive so fastMy car has nothing to proveIt's not newBut it can do zero to 60 in five-point-two-ohI'm in a hurry to get things doneI rush and rush until life's no funAll I really have to do is live and dieBut I'm in a hurry and I don't know whyI was working for Compaq/HP when that song came out and into country music - loved that song.
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