Sell used cars like an stock? Why not, especially if the units in some rare Roadster can bring you more profit.
There’s this car — Porsche Turbo 1994 3.6-liter engine. It is also called “flat-nosed” because of the characteristic shape of the hood. Christopher Bruno was dreaming about this car more than anything in life. But Porsche has released only 100 such vehicles, and Bruno was 14-year-old bent on wheelbarrows son of a car mechanic from Brooklyn. He had no more chance to get a Porsche than to go on a date with Winona Ryder. However, he still continued to follow this model.
14 years later one of these cars was in Manhattan. Bruno knew that its price has fallen to a minimum. At that time it could be bought for 100 thousand dollars. “I only thought about how to get it — says Bruno. But then I’d have to pay for it almost everything I had. I wasn’t ready to spend all your money on the car.” Even on a car — the car of his dreams. Instead, Bruno invested in the purchase of a home, which, according to him, today is the same as then and even less with interest. “Grey” Posrche is now estimated at 1.4 million dollars. Bruno vowed never to miss this opportunity.
In the world of vintage cars to get is not easy. The owners of these cars entered into between the secret deal, agreeing about everything, even before the auctions.
“All my life I felt that I was not allowed in this circle of the elect, — said Bruno in an interview with the Observer. — To the ordinary person there is no access. Everything happens in secret, and this invisible process causes a feeling of injustice that is happening.”
To remedy this situation Bruno, co-founder of HealthGuru medical platform, run Road Rally, which allows investors to buy shares in vintage cars and trade them as normal stock. You will never brag about standing in your garage antique Roadster — actually, you and the garage may not be — but you can own a part of such a machine, and to make a profit.
Today there are several cars: Ferrari Testarossa 1985 Ford Mustang “7UP Edition” 1990 Porsche 911 Speedster 1989, previously owned by Jerry Seinfeld, and BMW Lightweight 1995. Some of these cars belong directly to the Road Rally, and in other cases, the company enters into a transaction with the previous owner, in which 10% go to the founders of the application, 10% will remain the owner of the car, and the rest is for the investors who may not understand all these subtleties.
For investors the app is completely free. Bruno and his business partner Rob Petrozzo do not charge any commissions. There is no payment for asset management or auction of the collection. An investor only has to buy at least one share.
“I don’t think this is such a original idea, says Bruno. — I wanted to talk about what we need to sell the car as stock. We just made it so that it all worked.”
All machine Road Rally meet a certain standard. They must be the factory engine and transmission. In case of repair the numbers on the parts should match. They should have the original color, and all documents must be in order. In the history of the car could not be any spaces:
investors have a right to know who owned this car and what work was carried out.
Proof that such an app might be popular, was the purchase of a Lotus Esprit 1977 — the cars of James bond, played by Roger Moore. Bruno and Petruzzo bought this car in your account with car dealer from long island.
Billy blaze, a financial planner from Los Angeles, after watching an interview with Bruno Fox Business, began to recommend to some customers the app Road Rally and he is something invested in old cars. Blaze put $2000 ($57,50 per share) in the Boss Mustang 1969 and since then has acquired a stake in Jaguar in 1993, Ferrari Testarossa, BMW and Porsche Speedster 1995.
“I’m not a fan of cars, he admits, but that’s the beauty of the platform. Each machine is divided into shares. Quite nice to feel that you are part of something special.”
William, My 30-year-old medical consultant from Queens, says he bought some shares in Ferrari Testarossa on the recommendation of my adoring friends cars and I do not regret it. “My last investment was in the Porsche with 89-go year, — he said. — I think before that it belonged to Jerry Seinfeld. They quickly bought up all the shares. It was an interesting experience. I like to own something that has collectible value.”
Blaze says that he invested in a car Rally from the Road about 11 thousand dollars and in a short time received a 4% profit. “This is a deliberate investment, he explains. — If you look at it from the point of view of a complete set of briefcase, it is a unique asset class. I’ve invested in this not to get rich, and to diversify your portfolio and have something in addition to ordinary shares”.
While private investors receive on the Rally car Road stable but modest profits, the creators of the application is ripe for more ambitious plans. This week Bruno announced the start of the funding round of Serie A, during which it is planned to collect 10 million dollars. Road Rally is going to open a shop in SOHO at the end of this year, and then to establish branches in Los Angeles, Miami and Houston. It is also planned to expand the business, giving investors the opportunity to buy shares in a collectable sports paraphernalia and art objects. Investing in rare assets suddenly ceases to be so rare.
However, all this does not bring Bruno to the fulfillment of his dream of a Porsche in 1994.
“I really want to see on our platform was the Porsche 911 of this model,” he says, ” but I’m afraid we missed our chance. If we talk about the best Porsche 90-ies, we can find more effective options. I try not to mix business and personal. Although sometimes it’s very difficult.”
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