Online auction platforms are nothing new — but they’ve evolved to a new level in the post-COVID world. Gone is the requirement for every high-level classic car auction to be hosted live and in person at an exclusive venue. There’s been demand for the at-a-distance approach taken upscale for quite some time now — and most of the high-level auction houses have entered into this segment to suit that demand with their own unique styles. But of course, the market is evolving, and so too are the auction houses.
RM Sotheby’s announced today a new venture called Sotheby’s Motorsport — an all-new digital auction platform for fine exotic, luxury and sports cars of the 21st century. This venture is specifically aimed at collector cars with 17-digit VIN numbers, clean CARFAX reports and values ranging from $100,000 to $1,000,000 — or to be more specific, only high-quality cars built after the 17-digit VIN became a standard in January, 1981.
To create this, they’ve joined with Motorsport Network — and the net result is a new online auction platform that aims to bring RM Sotheby’s standards of quality to buyers and sellers of these newer cars in the online space.
In addition to the cars themselves, Sotheby’s Motorsport will also offer assistance with all the transactional aspects of the deal, including the transferring of money and ownership documents. They’ll present in-depth listings that feature all the relevant documentation, inspection reports and disclosure documents for bidder review, as well as offer professional photography and third-party inspections at no extra cost to sellers — a big deal in and of itself. They also offer post-sale help in paying off outstanding liens.
As an initial offering, Sotheby’s Motorsport has listed a 2022 Ferrari SF90 Spyder with 300 miles on the clock. It’s up with no reserve on www.sothebysmotorsport.com now, along with several other vehicles. Bidding opens on August 15 — during Monterey Car Week.