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Hot shots with plenty of extra cash to blow have typically dominated the world of classic cars. I'm talking the sorts of folks who tend to frequent high-end auctions where antique cars, American muscle cars, European sports cars, and the like go for hundreds of thousands of dollars.
You could be the biggest classic car enthusiast in the world, but not having serious dough could seriously limit you when it comes to your ability to participate in the lifestyle. But now, thanks to an iPhone app called Rally Rd., you won't have to shell out the big bucks to get a taste of the classic car experience.
Of course, the iOs app will not actually allow you to physically amass a garage of hot rods and luxury rides that would make someone like Jay Leno blush, but it does add another interesting opportunity: classic car investment.
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Per Bloomberg:
Rally Rd.'s mobile app tempts investors with its sleek images of luxury vehicles. Recently it was a 1995 BMW M3 Lightweight, the only car on the platform open to invest in [in June], though five other vehicles have already been fully funded. The app provides users with specs - including mileage, rarity, manufacturing location and restoration details, where applicable - and then offers a simple yes-no proposition: to invest or not.
These days, Rally Rd. offers more than just one car selection. There's also the 1983 Ferrari 512 BBi, which has actually doubled in value over the past five years, from $142,000 in September 2013 to $300,000 in May 2018. Shares are available for around $175 a piece, but if you're looking for a cheaper buy-in, a stake in Jerry Seinfeld 1989 Porsche 911 is available for $89. The BMW M3 Lightweight, on the other hand, is $59.25 a share.
In other words, the Rally Rd. app offers you a decent amount of opportunities to make the big bucks on collector cars in the United States. While before you may have been gawking at the outlandish prices car collectors pay for classic cars, with Rally Rd., you'll now be able to potentially rake in some of those profits.