The Car Crowd, a passion asset investment platform, has launched today offering investors the chance to take advantage of the opportunity offered by classic cars, adopting a concept that is already established in America.
The Car Crowd is bringing fractional ownership to the previously closed-off classic car market, once the preserve of established investors and collectors. The objective of the business is to open up this potentially lucrative asset class for those who don’t have the funds to acquire a classic outright but see the opportunity that the class, which has appreciated 193%* in the past ten years. *Reference Knight Frank Wealth Report pg 68.
Initial offerings include a Jaguar E-Type and an incredibly rare Spyker C8 with more cars due to be introduced throughout the summer. Classic Cars are a high performing asset class, with the Knight Frank Wealth Report 2021 stating that they have appreciated 193% over the last decade.
The company itself has recently finalised a funding round and Sky Sports F1 presenter Natalie Pinkham is part of the founding team.
“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,†said David Spickett, managing director The Car Crowd “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.â€
The shareholders of each car 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 which is currently in development and will be added to the platform.
“When you are looking at investment options, classic cars have appreciated faster than the traditional stocks and shares isas and are actually an extremely attractive option,†said Kirsty Spickett, CMO The Car Crowd. “The investment is secured against the vehicle so unlike the more common investment options, there isn’t the risk that your investment will be worth nothing. Having come from a career in financial services it was key for me that The Car Crowd had FCA regulation, which we achieved through being an appointed representative of Kession Capital. As an investor this is an absolute must. We estimate that around 8 million UK millennials hold no form of investments and hope that an affordable passion asset investment platform will open up the world of investment to a generation that has been overlooked.â€
*Article Source https://thecarcrowd.co.uk
