Lamborghini Countach (© Adnane Terrahi)
Have you always dreamed of owning a Lamborghini, but barely have enough money to buy a Lada? The Belgian/Dutch start-up WeHave has the solution: by dividing the 1982 Lamborghini Countach into 2,000 shares, you can become a co-owner of this iconic sports car for as little as 400 euros. A childhood dream that can also turn out to be an excellent investment, because sports cars have seen their value increase by 10 to 15 percent every year in recent decades. WeHave co-founder Oliver Wolfs dreams of a real community around rare collector’s items. “Why should only wealthy collectors be allowed to own something so unique?”
In the movie ‘The Wolf of Wall Street’ stock market trader Jordan Belfort (brilliantly played by Leonardo Di Caprio) crashes into a white Lamborghini at one point. That iconic 1982 Lamborghini Countach is a real collector’s item. Only 235 copies rolled off the production line.
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These kinds of rare sports cars almost always end up with extremely wealthy collectors. But WeHave managed to get hold of a Lamborghini Countach and makes it accessible to the general public. Anyone who wants to can become the owner of this ultimate childhood dream on wheels. The Belgian/Dutch start-up divided the Lamborghini into 2,000 pieces. From 400 euros you can buy one of the 2,000 shares. So you have to share the glitzy sports car with others, but you are the proud (co-) owner of a Lamborghini.
The ultimate collector’s item
“When I was 18, I dreamed of a Ferrari F40,” says Oliver Wolfs, one of the three founders of WeHave. “That car is the ultimate collector’s item for every car enthusiast. 1,200 were made, but the Ferrari F40 especially appeals to the imagination because it is the last model designed by Enzo Ferrari. himself was designed. A poster of that car hung in millions of boys’ rooms.”
As a student, Wolfs unfortunately did not have 300,000 euros to purchase such a Ferrari F40. “A shame, because today that car is not worth 300,000 euros, but 2.4 million euros. It has quadrupled in value after more than ten years. Luxury cars such as a Ferrari or a Lamborghini have increased in value by 10 to 15 percent every year in recent decades. That is also the case for other exclusive collector’s items, such as art or watches.”
That is how the idea for WeHave grew, says Wolfs. “Why should only wealthy collectors own such a unique product? What if we made it accessible to the people who really have an affinity with it and have been fascinated by it all their lives? That is not a must, you can just as well join our story because you are looking for an interesting investment.”
“We mainly wanted to lower the threshold. When that Lamborghini Countach came on the market, we saw our chance and jumped. 800,000 euros is a lot of money, but if you divide it by 2,000, it becomes a completely different story.”
Don’t joyride
The start-up has taken out a purchase option on the Lamborghini, explains the co-founder. “If we can raise 800,000 euros within two months, then the Lamborghini is ours,” says Wolfs. “If that doesn’t work, the option simply expires after two months and the car will be put back on the market. We or the co-owners therefore do not take any risks. If we can arrange the financing, the car will be sold within five years and the profit will be distributed to the shareholders. Of course – before that moment arrives – we will first check with our community.”
Just to be clear: becoming the owner of a Lamborghini Countach does not mean that you can also drive it. Anyone hoping to tear it down the highway or parade it through the city is therefore well worth the effort. “No collector buys such a unique, iconic car to actually drive it”, says Wolfs. “The risk of hitting something or someone else colliding with you is far too great. The Lamborghini is safe in a special garage, which is ultra-secure and where no one enters and certainly does not drive back out.”
That does not mean that you are only a paper owner, emphasizes the co-founder of WeHave. “We organize community events where the Lamborghini is central and where you come together with other fans. So you can absolutely admire your sports car in real life. You just can’t go joyriding with it (laughs).”
Pokémons and soccer jerseys
The Lamborghini is WeHave’s first project, but exclusive collector’s items are planned to followWolf explains. “That can be all kinds of rare products. Cars, art or watches are obvious. But why couldn’t it be an extremely rare Pokémon card? Or a soccer jersey? What if Lionel Messi ever sells the jersey in which he won the World Cup final? Wouldn’t it be a shame if that ended up somewhere in a villa with a billionaire in Qatar, who may not even like football that much? It would be so much nicer if a community of football fans could jointly own such a unique item.”
My ultimate dream is that a brand like Ferrari, for example, will launch a limited collection of ten cars, one of which it will reserve exclusively for our community
In the long term, the entrepreneurial trio therefore also wants to work with brands. “For them, it’s a way to build a community around their brand, create ambassadors and increase consumer engagement. That’s what every brand is looking for today. My ultimate dream is that a brand like Ferrari, for example, will launch a limited collection of ten cars, one of which it will reserve exclusively for our community.”
At the police
Wolfs became an entrepreneur after a ten-year career with the police. “I actually wanted to join the Special Forces. But unfortunately I had to put that dream away after an accident during training at the Quick Response Team of the Antwerp Local Police. As a result, I couldn’t move my left arm for eight months.”
“It has always bothered me that in the police, as a civil servant, you are never really rewarded for your hard work. Whether you work your ass off every day or cut corners, it doesn’t really make a difference. Ambition is not rewarded. As an entrepreneur it is different, there you have much more control over your own destiny. If you take risks and work hard, you will get something in return. You can really develop something all by yourself.”
As an entrepreneur you have much more control over your own destiny. If you take risks and work hard, you will get something in return. You can really build something yourself
“I notice that I am very hungry to learn. We went through an intensive process at Birdhouse and start it @KBC, and there is a chance that we will soon be allowed to participate in an accelerator program that ranks among the top three in the world. That professional support is very valuable, because we encountered quite a few obstacles along the way.”
“Fortunately, I can count on both co-founders who have strong technical skills, because the blockchain part in particular was a serious living. We do everything in blockchain. For example, the ownership of the collector’s items is registered one hundred percent reliably at all times. No discussion is possible, no cumbersome agreements are necessary. That was a prerequisite for WeHave to succeed and to get a license, but it was a toil to get it all done. I am very proud that we have overcome those hurdles.”
