Car-collecting start-up Commody is offering enthusiasts the chance to co-own and invest in classic cars from as little as €25 (£22).
Investors are registered as co-owners and Commody divides ownership into a limited number of collectible units, which is based on a fully registered vehicle.
The first car Commody has on offer is a 2003 Porsche 911 Turbo with a current market value of €128,000 (£113,000).
The main ownership share remains with the current owner, who is responsible for the vehicle’s maintenance and insurance.
Commody founder and financial expert Vilius Oškeliūnas said: ‘Our goal is to have approximately 200 cars listed on our platform, with a total value of €40 million, over the next three years. Negotiations are underway to secure more exclusive vehicles for the platform so that users can choose from the widest and most valuable range of collectible cars.
‘That way, every enthusiast of rare and historic cars can become a co-owner of some of the most legendary vehicles that have ever been produced.’
Classic cars are increasingly part of the global alternative investments market, valued at $33 trillion (£25.3 trillion) from research by JP Morgan.
Vilius Oškeliūnas added: ‘Our aim is to turn Commody into a gateway to the world of collectible cars – a digital space where every enthusiast can get their hands on legends that until now have been accessible only to a select few. In the long run, collectible cars often generate higher returns than traditional investment products. So, in addition to their emotional value, such vehicles have also become an attractive investment opportunity.’
