New Startup Offers Fractional Ownership of Multimillion Dollar Collectible Cars
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Drift Capital is a new company offering fractional investments in collectible cars worth over $1 million. The market for these cars is $50 billion.
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Collector cars have historically increased in value and outperformed other assets like real estate and fine art. Examples include Ferraris, Mercedes, and Porsches.
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The collector car market cooled recently after being overheated during the pandemic, but is expected to recover.
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Drift will build a portfolio of cars with a track record of long-term gains, not seeking short-term profits. The portfolio will be diversified and stored in multiple locations.
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Investors in Drift may get opportunities to drive some of the cars in the portfolio.