London South East were delighted to talk to David Spickett, CEO at The Car Crowd, the UK’s first classic car investment platform. Cars generally depreciate in value and so make bad investments. However the Coutts Passion Index, an index for Alternative Investments, shows that classic cars top the alternative investment league tables having risen 245% since 2005.
The Car Crowd was launched last October and already provides ‘fractional ownership’ of five classic cars. The idea is to make investing in classic cars available to those who couldn’t buy one for themselves. Each car becomes a limited company, with ownership divided into 1,000 shares which investors can buy and sell, with a 10% limit on ownership so that no one shareholder can dominate the decision making process.
In an informative and educational interview, David talks us through a wide range of subjects, from what makes a classic car and why do they go up in value, to the The Car Crowd investment process and how it works, and the importance of being FCA regulated and keeping investors protected.