RM Sotheby’s and Motorsport Network Joining Forces to Form High-End Online Auto Auction | FerrariChat
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RM Sotheby’s and Motorsport Network Joining Forces to Form High-End Online Auto Auction

Discussion in 'Ferrari Discussion (not model specific)' started by rob lay, Aug 3, 2023.

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  1. rob lay

    rob lay Administrator
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    #1 rob lay, Aug 3, 2023
    Exciting news for FerrariChat along with buyers and sellers of luxury/exotic cars. Through the white glove live auction experience at RM Sotheby's and Motorsport Network partners like FerrariChat, DuPont Registry, Canossa, Cavallino, etc there is a first for online auctions. There was a need for a platform that handled the best of both sides. Welcome to Sotheby's Motorsport! More in-depth verifications on both sides buyers and sellers, holding the title, and other services that had only been found with live auctions previously.

    My role is two-fold, FerrariChat will be part of the marketing of Sotheby's Motorsport and individually I have taken the role of Social and Community Manager. My role and partnership here at FerrariChat is unchanged.

    I think this Baron's exclusive with our CEO (one of the AutoTrader founders) is a good introduction.

    https://www.barrons.com/articles/rm-sothebys-and-motorsport-network-joining-forces-to-form-high-end-online-auto-auction-1473f6c9?mod=Searchresults
     
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  2. rob lay

    rob lay Administrator
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    #2 rob lay, Aug 3, 2023
    Today is just the launch of our preview cars. Official launch is later this month.

    https://sothebysmotorsport.com/

    To help out my role as Social Manager, please follow/like the other social platforms you have an account at. It is much appreciated! Through the day we'll start rolling out content.

    https://www.facebook.com/SothebysMS/

    https://www.instagram.com/sothebysmotorsport/

    https://twitter.com/SothebysMS

    https://www.pinterest.com/SothebysMotorsport/

    https://www.youtube.com/@SothebysMotorsport

    https://www.threads.net/@sothebysmotorsport
     
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  3. Texas Forever

    Texas Forever Eight Time F1 World Champ
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    #3 Texas Forever, Aug 3, 2023
    I only have a youtube account. Nothing there yet.
     
  4. Devilsolsi

    Devilsolsi F1 Veteran
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    #4 Devilsolsi, Aug 3, 2023
    Followed on FB and IG
     
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  5. Texas Forever

    Texas Forever Eight Time F1 World Champ
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    #5 Texas Forever, Aug 3, 2023
    Just FYI, looks too high end for me. One of the joys of BaT is having a cup of coffee and looking at the variety of cars.
     
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  6. rob lay

    rob lay Administrator
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    #6 rob lay, Aug 3, 2023
    I'm waiting for video on the SF90 Spider.
     
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  7. rob lay

    rob lay Administrator
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    #7 rob lay, Aug 3, 2023
    Certainly.

    BAT and especially Cars & Bids target the lower end. BAT is successful with higher end, mainly because there were few alternatives except live and consignment. We think there will be real demand with the higher end cars for the verification, inspections, title handle, and other services that the others don't do online. Different needs we hope to meet.
     
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  8. rob lay

    rob lay Administrator
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    #8 rob lay, Aug 3, 2023
    If anyone wants to be a verified seller or bidder, let me know by message. I was going to reach out to several I know personally, but will always miss a couple.
     
  9. schao

    schao Formula Junior

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    #9 schao, Aug 3, 2023
    Very interesting development; who decides whether a particular vehicle will be auctioned live or online, the car owner? Best wishes!
     
  10. Garbageman

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    #10 Garbageman, Aug 3, 2023
    Following on IG
     
  11. JSinNOLA

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    #11 JSinNOLA, Aug 3, 2023
    Anything that can bring more transparency to cars entering the auction market is a good thing in my book.

    I hope it turns out to be massively successful!
     
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  12. Texas Forever

    Texas Forever Eight Time F1 World Champ
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    #12 Texas Forever, Aug 3, 2023
    Keep in mind, BaT made its bones slinging Miatas. They then stepped up to Porsches. Today current listings are over 800. When you're bidding on a $10,000 car, it is no big deal. Bidding on a $250,000 car is another story. My guess is you will need to do a lot of handholding, including getting a PPI to people to open their wallet.

    But I could be wrong.
     
  13. italiafan

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    #13 italiafan, Aug 3, 2023
    I hope you personally stand to gain from this new venture and I wish you every success Rob!
     
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  14. Caeruleus11

    Caeruleus11 F1 World Champ
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    #14 Caeruleus11, Aug 3, 2023
    Congratulations and best of luck!


    Sent from my iPad using FerrariChat
     
  15. Sunshine1

    Sunshine1 Two Time F1 World Champ
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    #15 Sunshine1, Aug 3, 2023
    Congratulations! The mix of some of the best and most powerful names in the automotive community, well done.
     
  16. Jack-the-lad

    Jack-the-lad Seven Time F1 World Champ
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    #16 Jack-the-lad, Aug 3, 2023
    For me an important component is the interface between the auction house and the consignor, especially when dealing in the higher end, and most especially since the auction house is taking on a lot of logistical and administrative responsibilities. Are sellers going to have direct contact with the same representative through the entire process? I have to say that not all of my contacts with RM had been that helpful until I got one of the more senior guys involved….and they’ve all gone to the competition. I have a couple of cars I’m considering selling next year and this might be the way to do it.
     
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  17. Texas Forever

    Texas Forever Eight Time F1 World Champ
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    #17 Texas Forever, Aug 4, 2023
    One thought is many high-end buyers prefer to register their car in a state other than the one they live in. But I'm not sure you'd want to go there.
     
  18. Jack-the-lad

    Jack-the-lad Seven Time F1 World Champ
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    #18 Jack-the-lad, Aug 4, 2023
    I think I misunderstood. Apparently this will be just for high end modern luxury cars, not necessarily collector cars of all vintages. I guess that would be cannibalizing RM’s live auction business.

    Image Unavailable, Please Login
     
  19. rob lay

    rob lay Administrator
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    #19 rob lay, Aug 4, 2023
    yes, that's a big part. don't want to cannibalize RM Sotheby's or compete directly with the hoards of live auctions, also don't want to compete on low end with hoards of online auctions with lower priced cars and less auction services.

    21st century cars

    $100k+

    full auction services inspection, photo shoot, verifications, title handling, shipping.
     
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  20. Jack-the-lad

    Jack-the-lad Seven Time F1 World Champ
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    #20 Jack-the-lad, Aug 4, 2023
    It makes sense. Now I understand the business model, I’m just not part of the target clientele.
     
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  21. rob lay

    rob lay Administrator
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    #21 rob lay, Aug 4, 2023
    YouTube is a go. This is the SF90 Spider up for auction. It will be on display at RM Sotheby's in Monterey. Stop by Friday to meet our team, maybe see me, and maybe if lucky meet Lin too. :D

     
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  22. Jdubbya

    Jdubbya The $10 Trillion Man
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    #22 Jdubbya, Aug 5, 2023
    Cool concept and wish you all the best with it. Followed on Twitter to see what's happening. :)
     
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  23. henryr

    henryr Two Time F1 World Champ
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    #23 henryr, Aug 5, 2023
    so you've partnered with who / how to take pics and videos in every major city or?
     
  24. rob lay

    rob lay Administrator
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    #24 rob lay, Aug 5, 2023
    It can come from multiple sources, just like partners for Transport and Finance. However, most right now have been through Snappr.
     
  25. rob lay

    rob lay Administrator
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    #25 rob lay, Aug 6, 2023
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