A new collectible car platform Commody has been launched

Commody, a platform for collectible cars has been launched today, offering car enthusiasts the opportunity to buy a share of a real collectible cars and become co-owners.

This is a first-of-its-kind platform in Europe, aiming to make collectible cars accessible to a wider audience. We plan to offer 5 collector cars this year and an additional 10 cars next year.

The creator of the idea is a financial expert and investor Vilius Oškeliūnas. He says: “With this idea, we aim to democratize the world of collectible cars, which is traditionally available only to a narrow, closed, and usually very wealthy circle of collectors and investors. Now all car fans will be able to become co-owners of the most iconic cars and build the garage of their dreams. Meanwhile, the platform will allow owners of collectible cars to generate income while remaining the ownership of the cars and continue using them.”

Upon registering on the platform, users will find a list of collectible cars with detailed descriptions, photos, documents, history, and later this year – historical changes in the value of these cars. In the second half of the year, buyers will be able to purchase a selected number of collectible car units directly at the initial sale or later by repurchasing them from other buyers who own collectible units of the car. Cars on Commody platform are divided into collectible units based on NFT technology.

For example, if the owner of a collectible car worth 100,000 euros decides to sell 30% of the car. This part will be converted into, for instance, 1,000 collectible car units, each worth 30 euros. Buyers of collectible car units will be officially registered in the state car register as co-owners in the country where the car is registered.

The first car offered for purchase at the platform’s launch is an exclusive 2003 Porsche 911 Turbo, valued at 149,000 euros. According to Commody’s rules, the main owner will take care of the car’s storage, insurance, and maintenance, so this will not create any costs for the co-owners.

The price of the first car collectible units will be only 25 EUR. Interested individuals are invited to register on the platform and join the queue to become car co-owners.

About Commody:

Commody is the first collectible car platform in Lithuania and Europe, allowing the sale and purchase of a share of a real collectible cars. Commody is an officially registered closed joint-stock company operating and regulated according to the laws of the Republic of Lithuania. The Commody team consists of 6 professionals, including financial expert and wealth manager Vilius Oškeliūnas, marketing strategist Gerda Oškeliūnė, fintech representatives, founders of Savy and HFinance Vytautas Zabulis and Gintautas Ščerbavičius, IT solutions expert Martynas Pranaitis, and motoring enthusiast and auto journalist Vitoldas Milius.

This information is based on the press release dated 13.06.2024.