Not sure if this is what you’re looking for, but I downloaded an app called Rally Road that let’s you invest fractionally in tangible collectibles. I haven’t invested anything yet, but they’ve got everything from some older cars to Honus Wagner card to Hermès bags.

Cool app.

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Posted by Jag_Warrior

Virginia

Member since May 2015

4140 posts

Posted on 12/16/19 at 8:29 am to southernelite

quote:
I downloaded an app called Rally Road...

I downloaded that app a year or two ago too. Since I’m a gearhead at heart, the idea of investing in exotic cars was appealing. But in reality, holding an equity stake in something that’s parked in someone else’s garage just didn’t make sense to me. With other things, like art, coins, wine, etc., you *really* have to be an expert, or you just wind up being a lamb led to slaughter.

I would love to tag along with Wayne Carini (of Chasing Classic Cars), just to be his gopher and see what he sees on a daily basis. But to actually put money into his deals, I think you have to be a close friend or associate. He’s worth $20 million +/-, so it’s not like he’d need my little money to make his next vintage Ferrari deal.

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Posted by baldona

Florida

Member since Feb 2016

20561 posts

Posted on 12/16/19 at 8:37 am to southernelite

quote:
I downloaded an app called Rally Road that let’s you invest fractionally in tangible collectibles. I haven’t invested anything yet, but they’ve got everything from some older cars to Honus Wagner card to Hermès bags.

I'm not saying this specifically is bad, but this entire idea of fractional ownership of an "investment" in large scale is absolutely full of thieves. This is straight from White Collar Crime 101.

If you want to invest in something tangible, it HAS to be something you enjoy and make as a hobby. Going out and buying a couple of gold coins because a "friend or family member" told you they were a good investment is a horrible idea.

Part of the enjoyment of tangible investing is getting the joy of owning the investment. That way if it doesn't appreciate you still enjoyed it.

I would absolutely never tell someone to invest in something they didn't know a lot about. SOOOO many ways to scam people with "tangible" assets.

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