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Originally Posted by Matt Monson
It was an article Reuters published and you are right, it was about actual collector grade cars, stuff well into 6 figures or even 7 and 8 figures. It had zero real crossover to us plebes even though Petrolicous and 20 other blogs shared the article for a couple days.
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About a month ago I was at the Simeone car museum with my son for some sort of show. I struck up a conversation with a 20 something year old who had brought a pristine 55 Speedster and a Testa Rossa....I had to ask what he did for a living, figuring daddy was someone big. He worked for a company that buys cars you can invest in. They sold 2000 shares in the cars they bought. If the cars go up in value your shares should appreciate accordingly. Having been a trader for 20 plus years I asked him a few questions....
Who is the buyer when I want to sell my shares ( who provides liquidity who makes markets) ?
If I buy 1001 shares do I own the car?
Who sets the value of the cars if no live market in the shares is around?
When you trailer up the cars and drag them down from NY for a show who pays for that, or does it go against the value of the car (and therefore the shares)?
I didn't like any of the answers. I thanked him for his time.
There are some ways to invest in those high dollar cars without owning 100% of the car. That's not one I would get involved with.