Passionate asset investment platform, The Car Crowd, brings fractional ownership to the UK classic car market. Already an established concept in the US, The Car Crowd aims to offer investors the chance to invest in classic cars.
The objective of the business is to open this asset class to those who can’t afford to purchase a classic outright but see the opportunity classic cars are as an asset. Over the last decade, classic cars have appreciated 193%.* (*Reference Knight Frank Wealth Report pg 68). With nearly 8 million UK millennials not holding any form of investments (data from the FCA financial lives survey 2019), this could be a way to give young classic enthusiasts the chance to invest in something they are passionate about.
Throughout summer The Car Crowd will initially offer investment opportunities in a Jaguar E-Type and a rare Spyker C8 with more cars to be introduced.
Shareholders will be consulted twice a year on whether they would like to sell the vehicle or hold onto it for another six months. They will also be able to list their shares via a bulletin board style secondary market and will be added to the platform once development is complete.
David Spickett, managing director of The Car Crowd commented, “For decades classic cars have been recognised as an extremely high performing asset class, but the high cost of entry has made them inaccessible for all but the most wealthy investors, we are opening the market up for investors to realise the potential of classic cars as an investment at an affordable level. Each car will be carefully selected as an investment, our team are constantly looking for attractive examples that we feel will offer strong returns.”
For more information on the investment platform please visit The Car Crowd’s website.
Do you think this is a good idea? Are you in the ‘investment camp’ or ‘enjoyment camp’, or can you be in both? Let us know in the comments below.
The information contained in this blog post is based on sources that we believe are reliable and should be understood as general information only. It is not intended to be taken as advice with respect to any specific or individual situation and cannot be relied upon as such.