"Supreme Chancellor and Glorious Leader SaveTheIntegras" (jegoingout)
12/11/2018 at 09:35 • Filed to: None
0
3|
"Supreme Chancellor and Glorious Leader SaveTheIntegras" (jegoingout)
12/11/2018 at 09:35 • Filed to: None | 0
| 3 |
!!! UNKNOWN CONTENT TYPE !!!
My co worker showed it to me cause well...it fits well in my line of work. That being said, I’m not exactly sure how treating the classic car market like a stock market is easy. I understand the simple aspect of it though, I help fund a group buy of a car, maintain my stake it in as it appreciates, cash out when the car sells, repeat.
Considering chucking $200 into it and seeing what happens. Looking at their future funding cars, the only thing I can clearly see being a positive flip is that Ford GT.
someassemblyrequired
> Supreme Chancellor and Glorious Leader SaveTheIntegras
12/11/2018 at 09:56 |
|
Ah, it’s a not very liquid investment, you really have no guarantees about whether the company managing the cars is competent (or has your best interests in mind).
I mean if you can afford to lose the $200, then it might be worth a punt. But the collector car market is highly correlated with the stock market, which has been circling the toilet for the last week or so.
Thomas Donohue
> Supreme Chancellor and Glorious Leader SaveTheIntegras
12/11/2018 at 09:58 |
|
Keep in mind that they don’t have any plans to auction/sell any cars any time soon , these are all long term investments. Also, I imagine costs for storage, maintenance, insurance, etc will all come off the top.
They open trading windows to sell your shares before they ever sell the car, kind of like their own little market . This window is currently one day per month for each car. That’s where you can buy/sell shares in the cars they have already purchased.
Not sure how good it will be as an investment, but it’s a cool idea. And hey, I own (a piece of) a Ferrari 512BB !!!!
WilliamsSW
> Supreme Chancellor and Glorious Leader SaveTheIntegras
12/11/2018 at 10:44 |
|
It’s a very illiquid investment, into a highly volatile commodity. Don’t plan on seeing your $200 back - cashing out depends on a) them selling or b) finding a greater fool AND the company itself to stay afloat.
I think we’re likely headed for a recession, and when you combine that with the boomers getting pretty old, you have a perfect recipe for a collapse. And the fact that this even exists is a pretty strong indicator that we are right around the peak of the market to begin with.