Sharing the art of living well
The Luxury is a global concierge company founded in 2014 by Constantin Catalin Dascalu. The company is headquartered in London and operates 6 offices worldwide. The Luxury is a member-only "luxury lifestyle management service" that provides concierge services including travel bookings, restaurant recommendations, and access to events. The Luxury includes 4 brand services, including Lifestyle Management, Influencers Talent Agency, Retail, and The Luxury Academy. In 2018, the company was estimated to have about 2500 subscribers, including 12 billionaires. One of the most talked about markets worldwide is that of cryptocurrencies. On November 3rd, 2018, the market’s capitalization was estimated to $206 611 billion revealing exponential growth over time. Over the last few years, we’ve watched in amazement as the market for tokenized blockchain based assets has exploded. Literally from nothing a few years ago to more than $6 billion in the first 3 months of 2018, but the reality is the majority of utility and security token offerings are nothing more than a good idea and a whitepaper.
After seeing this up close we came to the conclusion that the greater opportunity isn’t just in hypothetical businesses but real-world assets. Over the last several months we’ve extensively researched the space and discovered a huge opportunity to fractionalize hard to access assets also known as illiquid using blockchain based technology.
From a high level, an illiquid asset refers to the state of a security or other asset that cannot easily be sold or exchanged without a substantial loss in value. Some examples of inherently illiquid assets include properties, luxury cars, yachts, fine art, private jets or watches.
Though these items may have inherent value, the marketplaces in which they are sold often have few buyers in comparison to those interested in the purchase of more liquid assets. The market for luxury assets is potentially a multi-trillion dollar market. The global private equity market alone is a $4 trillion.
This is where The Luxury comes into play. Our goal is to use modern blockchain based technology to unlock a vast world of assets that were previously inaccessible.
The Luxury will be a fractional investment platform that will bring potential buyers together in syndicates to purchase luxury assets that they may not be able to afford on their own. Pre-sales is open, ahead of its retail launch in 2019. Unlike other fractional investment offerings, The Luxury is the first to give a choice of investing in any available asset, anywhere in the world. Investors can even choose to use the asset they co-own. Once they will register on The Luxury platform, investors will have the option to search and view any asset for sale worldwide. They can set up their own investor syndicate with friends, family or workmates or they can choose to join a syndicate of other seasoned investors. Once the syndicate is full, The Luxury will purchase the asset at market price and will administrate for an annual fee of $1000 per syndicate asset owned. The owners of the coins can use them also as a corporate currency to pay for various The Luxury services. Once the syndicate is started, The Luxury divides the asset into 1000 blocks, each representing a zero point one percent (0.1%) ownership stake. Investors then reserve the number of blocks they wish to purchase by paying a zero point one percent (0.1%) deposit of their total investment amount.
If all 1000 blocks are not reserved within 31 days, the syndicate closes and anyone who has put down a deposit then gets the option of choosing another syndicate to join.
If all 1000 blocks are reserved, The Luxury will then purchase the asset on the syndicate’s behalf.
Once the asset is purchased, The Luxury will engage a service provider to attend to the conveyance and, upon settlement, the asset will be held in a trust, which all of the investors hold an interest in that is proportionate to the number of blocks they own. An individual trust is created for each asset purchase, so there is no co-mingling of interests. The asset is held by the trust for five (5) years, during which time investors will be paid their potential share of the rent, less fees and expenses, on a quarterly basis.
In the case of an Invest & Rent Property syndicate, the person who started the syndicate can also apply to be the property’s tenant. After five (5) years, investors vote to either retain or sell the asset– hopefully at a capital gain. For an Invest & Rent Property syndicate, the minimum investment is 5% percent of the property purchase price, plus costs and stamp duty. The successful applicant will have a 5-year tenancy (subject to terms and conditions).
27th of October 2018 / 2PM UTC to
13th of November 2018 / 2PM UTC
15% Bonus on any purchase amount
14th of November 2018 / 5PM UTC to
5th of January 2019 / 5PM UTC
7.5% Bonus on any purchase amount
We are happy to announce that we are well on our way of reaching our milestone and The Luxury community is growing at a rapid pace. Now anyone can buy The Luxury Coins online right within our website for USD, EUR, BTC, ETH and 80+ cryptos.
Do not hesitate to come up with suggestions, ask questions, or criticize this project, I think only together with a common goal, we can move with The Luxury from an idea, to success.
