Classic Car Investment App Rally Rd's Downtown NYC Pop-Up
The digital platform's Wooster Street hub, featuring two supremely beautiful beasts
Per the Knight Frank Luxury Investment Index, classic car values have increased by 404% in the last 10 years. That's not why the team behind Rally Rd developed their unique platform, however. The goal with this alternative investment program happens to be to allow enthusiasts to feel involved in the classic car world by owning a portion of a vehicle, while watching the value of that investment grow. And, when stepping into the NYC-based start-up's 40 Wooster St pop-up, you get a sense as to how enthusiastic they themselves are about the vehicles they're taking on and sharing. On site, there's a 1985 Ferrari Testarossa ($165,000) and a 1956 Porsche Speedster—both in meticulous condition and with unexpected, original nuance. A share of the former goes for just over $82, and for the Speedster, a little over $212. One share equates to 1/2000th of the blue-chip collector cars. Events like the pop-up will grant investors access to the vehicles, and other events down the line could also generate additional revenue, which will be kicked back to investors.
"You look at fine art and architecture for investment purposes, but stuff like this hasn't had a push from behind. I think it comes from the fact that so many things like these vehicles are tucked away somewhere, in a collection of things," explains Christopher Bruno, CEO of Rally Rd. Right now, the group (which has partnered with FINRA registered broker-dealers to oversee and protect transactions) presently has 10 assets. They plan on growing quickly, with one of the next lots being a coveted 1992 Jaguar XJ220, in silver on silver. They also plan to host live IPO activations, allowing people to invest on the spot. It's more than a new way of investing, or even a new way of imagining investing. Anyone who wants such an event can actually experience the vehicle and the transaction. Perhaps the greatest joy, investors don't need to look after the car's themselves: they live in a climate-controlled facility.
The 40 Wooster Street pop-up is open to the public but closes after 8 December. You can download the Rally Rd iPhone app for free.
Images courtesy of Rally Rd.