Successful Start for The Market by Bonhams US

February 23, 2022 by Bonhams

SALE OF MITSUBISHI 3000GT VR-4 SETS NEW AUCTION WORLD RECORD

The Market by Bonhams, the fastest-growing online car and motorcycle marketplace which launched last month in the US, has witnessed an impressive debut with several six-figure automobiles successfully selling and a new auction world record being set.

One of the highlight cars of the launch, a 1999 Mitsubishi 3000GT VR-4, quadrupled its pre-sale estimate to sell for $100,499, setting a new auction world record for the model.

Following a bidding war across the US, the successful buyer effectively became the first registered owner of the 168-mile youngtimer which had been kept in dealer inventory until purchased by the vendor who kept it off the road on static display.

Another six-figure sale was achieved by a 2019 Porsche 911 GT2 RS 'Weissach' which sold above estimate for $435,500. A single-owner, 363-miles example for Porsche's top of the line racing car for the road, this Miami blue supercar featured the high-performance Weissach option, making it one of the most powerful 911s ever.

Caroline Cassini, General Manager of The Market by Bonhams US, said: 'Our successful debut has shown that we clearly have the viewers and real-time bidders engaging with The Market. To have such a strong first week like this is a fantastic achievement.'

Other lots successfully sold since launch include a one-of-a-kind 2017 Dodge Viper GTC ACR Extreme Dealer Edition which made $299,500 and a rare coach-built 1964 Rolls-Royce Silver Cloud III Continental, which realised $79,500.

The newly launched Market by Bonhams US has introduced its innovative digital platform to North America, combining technology and traditional auction practices, with its winning formula of no buyer fees and a flat 5% sellers' commission, which has proved a success in the UK and Europe resulting in an average 90% sell-through rate.

The simple auction process allows an auction to be set up in a few days from initial contact. Sellers receive a comprehensive professional auction listing at no extra cost, written by a team of motoring experts, depicting all aspects of the car.

Each auction is live for seven days, during which time registered bidders submit their bids to their desired maximum. Would-be bidders can quickly register with their credit card details and are immediately able to bid. The successful buyer pays a 5% deposit to The Market by Bonhams and then agree payment terms with the seller before collecting their new vehicles.

In line with The Market by Bonhams US' policy of transparency, all auction results are listed and remain visible on the website.

Forthcoming auctions include a brace of Aston Martins: a 1977 V8 Vantage Saloon, estimate $70,000 – 100,000, and a 2003 DB7 Vantage Convertible, estimate: $25,000 – 35,000, both offered at No Reserve.

Caroline and other members of The Market by Bonhams US team will be in attendance at the Bonhams Amelia Island Auction in Florida on March 3 where they will showcase the platform's latest consignments and will be on hand to give advice to potential buyers and vendors.

Photo credit: Bonhams
posted on conceptcarz.com