When luxury cars go public
The New York start-up Rally Rd. Enables small investors to invest in valuable vintage cars via an iPhone app. One of the founders comes from Düsseldorf.
Dhe New York’s Soho neighborhood is known for its fashion stores. On a cool January evening, it is hardly noticeable that behind a glass facade on Lafayette Street young people are standing together and sipping cocktails under neon lights. There is a clothes rail with T-shirts and hoodies in front of a black wall, and baseball caps and scented candles are on the display opposite. On a pedestal in the middle stands a red sports car with folded scissor doors in the angular style of the eighties. If you stroll through the quarter and take a quick look inside, you might think that a boutique is currently presenting its new collection with the help of casual props. However, the sports car is not a backdrop. He is the occasion for the party. The New York start-up Rally Rd. (Road) is celebrating the car’s upcoming IPO this evening.
It sounds somewhat unusual that not only young companies are placing their shares with investors, but also old cars. It is a novelty indeed. The financial technology company Rally Rd., Founded two and a half years ago, enables small investors to invest directly in valuable vintage cars for the first time. So far, such investments have been primarily a playground for multimillionaires who can afford the complete cars. For some years now, there have also been investment funds that specialize in these investments.