New Online Marketplace Provides a Trusted High-Touch Experience for
BLENHIEM, ONTARIO, CANADA and MIAMI, FLORIDA – August 3, 2023 – (Motor Sports NewsWire) – Today, RM Sotheby’s and Motorsport Network announced the launch of Sotheby’s Motorsport (www.SothebysMotorsport.com), a new online automotive auction destination focused on 21st century sports, exotic, and luxury vehicles priced between $100,000 – approximately $1,000,000.
RM Sotheby’s is the world’s largest auction house by total sales, responsible for the sale of 7 of the top 10 cars sold at auction, selling through a combination of live auctions and bespoke online sales of rare, desirable and highly-collectable cars. Motorsport Network is the globally recognized voice for motorsport and automotive industries and their fans, with expansive holdings that include, inside its Driven Lifestyle division, duPont REGISTRY, Canossa Events, Cavallino and FerrariChat.
By partnering together on this new venture, the two industry-leading firms believe that Sotheby’s Motorsport combines the best aspects of live in-person and online auctions and provides both buyers and sellers with a trusted, high-touch experience to ensure a successful transaction.ch
“The high-end segment of the automotive market, which accounts for $20 billion in annual sales in the United States, deserves a superior level of service, confidence, and client satisfaction than what is currently offered by many online auction sites,” said Chip Perry, CEO of Sotheby’s Motorsport and former founding CEO of AutoTrader.com. “Sotheby’s Motorsport is a true luxury experience that is designed to serve this untapped market. With this new experience, both buyers and sellers can have confidence knowing that we have vetted the vehicles, bids, and will deliver a white-glove service from start to finish.”
“Sotheby’s Motorsport is a perfect complement to our industry-leading auctions and live events and a turnkey solution to anyone who wants to sell or purchase a high-end modern vehicle,” said Gord Duff, RM Sotheby’s global head of auctions. “Today’s announcement illustrates our commitment to give both buyers and sellers diversified offerings that best meet the needs of collectors and enthusiasts who are selling or are in the market for timeless vehicles.”
Instilling Confidence with Buyers
With Sotheby’s Motorsport, buyers receive a premium vehicle and seamless transaction experience. Each listing includes unedited high-res images of the interior, exterior, engine bay, and undercarriage, driving videos, and a comprehensive third-party inspection report or detailed seller disclosure. Buyers can also use the Proxy Bidding feature, which enables bidders to set a maximum bid and win without being present at the auction’s close.
White-Glove Service for Sellers
For sellers, Sotheby’s Motorsport is the only online platform in the industry to provide a white-glove service from beginning to end. Sotheby’s Motorsport takes care of creating the online listing, which includes the arrangement of photography, videography and inspections, and following completion of sale, manages transferring title or ownership documents, paying off liens as necessary, and transferring funds. All bidders are securely vetted in advance for peace of mind following a winning bid.
Inaugural Auction tied to Monterey Car Week
Starting today, members can join the community and create an account to become a registered bidder or seller. Twelve vehicles are being offered as the inaugural auctions, including a 2022 Ferrari SF90 Spider with 300 miles on the odometer. This low production twin turbo gas/electric V8 is AWD and will be open for bidding on Tuesday, August 15 without reserve. The vehicle will be on display at the Portola Hotel & Spa in Monterey during the Monterey Car Week and the auction will conclude on Tuesday, August 22.
Sotheby’s Motorsport is currently available for buyers globally and sellers with vehicles registered in the United States.
About RM Sotheby’s
RM Sotheby’s is the world’s leading collector car auction house. With over 40 years of proven results in the collector car industry, RM’s vertically integrated range of services, from auctions (live and online) and private sales to estate planning and financial services, coupled with an expert team of Car Specialists and an international footprint, provide an unsurpassed level of service to the global collector car market. RM Sotheby’s is currently responsible for the most valuable motor car ever sold at auction.
About Motorsport Network
Motorsport Network is a global media and technology company sitting at the intersection of the motorsport and automotive industries. With over 62 million monthly active users and 21 million social media users, the company operates digital and print properties in 15 different languages.
Source: RM Sotheby’s