A new player has joined the collector-car auction game.
Collectors Xchange went live today — April 27 — with a mobile app and online auction website.
The first car to cross the online block will be a 1992 Ferrari 348 tb with less than 8,000 miles on the clock. The auction for this car will start at 6 pm ET on Friday, April 30
Bidding on the Ferrari — and all other Collectors Xchange lots — will be for seven days.
In a press release, Collectors Xchange said their business is focused on three tenets: mobility, transparency and their CX Report — which is a standardized, third-party service that verifies the condition of each car on the online block.
“There just isn’t another auction experience that caters to today’s emerging generation of collectors,” said J.R. Amantea, Founder and CEO of Collectors Xchange. “Smart phones are where business happens today, whether it’s checking messages or making a huge purchase, so we knew that we had to lead with mobility. And because trust is paramount when you’re considering spending money through an app, we also knew we needed to focus on transparency. Our CX Report is the key that we believe will drive that transparency and the comfort level required to motivate buyers and sellers to use our platform.”
The standardized CX Report provides insights from an unbiased third-party perspective, establishing unparalleled transparency. In addition, a CARFAX report will be offered for newer models to further ensure accurate vehicle history. Further benefits for sellers are CX’s flat-fee listings and commission-free transactions. All sales exceeding $150,000 will include free shipping.
CX was born from the deep, passionate roots its three co-founders planted in the automotive world. Amantea and fellow lifelong car-lovers Michael Yager and Chandler Briscoe grew up in families whose worlds centered on automotive.
Amantea helped his father restore his first Corvette at the age of 6, and he judged in a Corvette show a year later. He parlayed that passion into a collector car brokering business that he started in high school. Yager, whose family owns Mid America Motorworks, spent his childhood at car shows and racetracks. Briscoe has led development of the app and the accompanying web platform, and he inherited a 1968 Pontiac GTO from his father at the age of 16, and he competes in auto races every chance he gets.
“Bringing this level of collector car to a mobile-native platform has been our focus from day one, so seeing it come to fruition is especially significant,” said Briscoe. “Presenting an auction experience that is intuitive and user friendly from smartphones and tablets is equally as important for people just beginning to build their collections as those who have participated for decades.”
Prospective buyers and sellers can join the virtual auction experience by downloading the mobile apps and registering with Collectors Xchange. The iOS version can be downloaded through the Apple App Store while the Android version can be accessed from the Google Play Store. Visitors can also experience Collectors Xchange through the desktop version.
Collectors Xchange will offer many treasured makes and models, including exotics, pre-war classics, luxury cars, American muscle, European sports cars and the latest from the JDM sector. Some of the first vehicles to go live on the platform will include:
- 1992 Ferrari 348 tb with less than 8,000 miles on the odometer.
- 2015 Panoz Esperante Spyder GT, one of only a handful of street versions of the GT2 race car.
- 1967 Corvette 427/435, all-original, Bloomington Gold-certified and NCRS-awarded.
- 1999 BMW Z3M with less than 5,000 miles.
- 2017 Corvette Grand Sport owned by 2019 Indy 500 Rookie of the Year Santino Ferrucci.
“This first selection of auction vehicles is indicative of the types of unique cars that we will present on the CX platform,” Yager said. “Through our resources here in the U.S. as well as throughout the world, we’re able to consign and offer cars with truly distinctive features and provenance. This will be a common theme among every car that will be seen on our app and site.”