The U.S. sellers with The Market by Bonhams will pay an up to $5,000 commission, and they are receiving a comprehensive, professional auction listing at no extra costs, written by a team of motoring experts, who are detailing the offered car aspects. After that, the auctioning process will begin in a few days, and it will be live for a week. Otherwise, the bidding process is straightforward and transparent, like those from the Bring a Trailer and Doug DeMuro's Cars and Bids.
One particular aspect for The Market by Bonhams is that it doesn't charge the buyer. Yet, it takes a 5% of the seller fees. "This is a natural progression for our Bonhams Motoring business to further expand into the U.S. The launch marks a key milestone for our 'always on' approach, offering cars at all price points, around the clock, to collectors wherever they are in the world," said Maarten ten Holder, Managing Director of Bonhams Motoring. He then added: "Prospective clients want to choices when working with auctioneers and we are now able to provide these options, from live sales to online timed auctions and daily online sales via The Market. There is clearly an appetite from buyers and sellers for this service and the launch marks the next step in our motoring strategy."
For now, the U.S. sellers cannot upload new offers on The Market by Bonhams platform, but they can already see what's coming. And, as far as we can see, there are some neat offers such as UK jewels like Aston Martins or American favorites such as a 1969 big-block Chevy Corvette or a 1977 Cadillac Eldorado. The platform will be fully operational starting with January 24th.