- The Market expands its classic and collectible car auction model into four key European countries
- European buyers and sellers expected to embrace a new way of buying and selling classics
- Digital platform investment expected to unlock further expansion and overseas licensing opportunities
Classic and collectible car owners and enthusiasts across Europe will now be able to buy or sell their next cherished vehicle more easily than ever before following the launch of a brand-new operation licensed by online classic car auction disruptor, The Market.
Based near St. Moritz and operating online classic car auctions in Switzerland, Germany, Italy and France, www.themarket.eu replicates the pioneering customer-centric model successfully employed by The Market in the UK for the past four years. Furthermore, it will utilise the disruptor’s industry leading online technology to give buyers and sellers a highly transparent, affordable and easy way to buy or sell a classic.
“Following on from our most successful year to date, we’re delighted to announce the launch of our very first overseas operation,” comments Tristan Judge, director, The Market. “Since our creation in 2016, classic car fans in the UK have embraced our new way of doing business. Indeed, hundreds of classics and collectibles worth a total of more than £15 million have now been sold online via our proprietary platform so it’s incredibly exciting that enthusiasts in four major European countries will now be able to share and benefit from a similar online experience.”
Trust and transparency will remain at the heart of the new platform, www.themarket.eu, with vehicles receiving extensive listings and photo galleries. Unlike traditional auction houses, the new platform ensures that more money is returned to sellers because it does not charge any buyers fees and sellers pay just a very small commission. Sellers will also be able to benefit from the company’s popular turnkey Concierge service which includes premium photography, on-site storage, hosting of viewings and vehicle handover.
The technology at the heart of the new platform is the result of a major six-month investment and development period which will feature both multi-language and multi-currency formats, allowing the flexibility and scope for further expansion and licensing overseas. Other technical developments will be introduced back into The Market’s UK platform, enhancing the experience for UK users too.
“Having seen the success of The Market’s operation in the UK, we’re incredibly excited to be able to introduce this technology and new way of buying and selling classics to motoring fanatics across Europe,” comments Tisa Pusnik, CEO, TheMarket.eu who will be leading the brand-new team and operation. “Our licensing arrangement has made it incredibly quick and easy to set up - from processes, to the technology, through to the branding and other operational aspects, everything has been covered and we’re ready to hit the ground running with our first sales in just a few weeks’ time.”
The Market expects to make announcements regarding further overseas expansions in due course. In the meantime, buyers and sellers of classic cars in Europe can find out more and bid on cars listed by visiting www.themarket.eu.
The Market was launched in 2016 and is a privately held company based near Oxford in the UK. The Market helps people to buy and sell their classic vehicles through innovative curated auctions via its state-of-the-art, high security online platform and app.
The Market was conceived from a passion for classic cars and motorcycles as well as for technology and the crossovers that exist between the two. This crossover is disrupting the classic car auction market by providing the highest levels of transparency, accessibility and security as well as highly competitive buyers’ and sellers’ fees. The Market charges a seller’s commission of just 5 per cent + VAT with no fees for buyers.
To date, The Market has sold over 800 vehicles with a total value of over £10 million and a sales rate of over 80+ per cent. Prices range from £20,000 to £200,000.
Auction results spreadsheets are available on request.