On January 24, Bonhams new online marketplace went live in the U.S. The Market by Bonhams is now active, with classic cars available for bidding via The Market’s online portal.
Five launch lots are currently live, with the first — a 1959 MGA Roadster — closing on January 31.
The Market is new to the U.S. collector car auction scene — but it’s not new. The venture was first launched in the UK in late 2016 and quickly became successful in selling both Youngtimer and classic cars in Europe and the UK, with an overall sales rate of 89%. Bonhams acquired The Market in early 2021 to further its own digital presence, and launching it in the U.S. does just that. Transparency is key to The Market’s plan — all its results will be published for all to see, which should help buyers and sellers make better informed decisions.
Sellers who choose to list with The Market receive a professionally written auction listing with limitless photos as part of the deal. There’s no buyer’s fee, and the seller pays just 5% of the sold price. This is a competitive setup compared to other online auctions in this space, and it’s powered by Bonhams’ longstanding experience in presenting lots in the best light possible.
Lots are live for seven days each, and new ones are posted frequently.