RM Sotheby’s, the revered car auction house, has forged an alliance with Motorsport Network, a prominent authority in the world of digital reporting with over 62 million monthly active users. The result of this powerful collaboration is Sotheby’s Motorsport, a high-end car auction platform for 21st-century machines. The partnership promises enthusiasts and collectors an exclusive opportunity to acquire some of the most coveted vehicles in the world.
What Is Sotheby’s Motorsport?
Sotheby’s Motorsport will cater to the market of sports, exotic, and luxury vehicles with price tags ranging from $100,000 (over AED 360,000) to $1 million (over AED 3.60 million). The auction will exclusively feature U.S.-sourced cars, showcased to buyers across the globe. However, in the future, the brand will expand its portfolio and list cars sourced worldwide. Additionally, the new auction platform is available in 15 different languages, ensuring seamless accessibility for a diverse clientele. Need to research on new cars? Check out DubiCars’ new-car section for detailed information.
How Does Auction Work?
This platform aims to combine the best aspects of live in-person and online auctions, providing buyers and sellers with a trustworthy and hands-on experience to ensure successful transactions. Each listing comes with unedited high-quality pictures of the car’s interior, exterior, engine bay, and undercarriage, as well as driving videos and a detailed inspection report or seller’s disclosure.
Buyers purchasing the car have the option to use the Proxy Bidding feature, which lets them set a maximum bid and win without being present at the end of the auction. For sellers, Sotheby’s Motorsport offers a full-service experience, handling the car’s auction end-to-end. This includes:
- Creating An Online Listing
- Photography
- Videography
- Inspections
- Transferring Ownership
- Paying off Collateral
- Bidders Screening
The buy fee is 5% of the transaction, capped at $25,000 (over AED 91,000), while the sell fee is 2.5%, also with the same cap. Looking to buy a used car in the UAE from a private seller? Here is a complete guide to a used car purchase.
Chip Perry, CEO of Sotheby’s Motorsport and former AutoTrader.com CEO, aims to provide a superior luxury experience in the $20 billion high-end automotive market. Sotheby’s Motorsport offers vetted vehicles, bids, and white-glove service for both buyers and sellers, ensuring unmatched confidence and satisfaction.
Initial Sotheby’s Motorsport Auction Line-up
Sotheby’s Motorsport’s first car, a 2022 twin-turbo Ferrari SF90 Spider with 300 miles, will be sold at no reserve between August 15 and August 22 at Monterey Car Week. Following this, 10 more exquisite cars will be auctioned, including a limited-edition 2011 Ferrari 599, 2019 Corvette ZR1 convertible, 2023 Porsche GT3, and others.
Most of these cars have low mileage, mimicking the pattern of offering high-end, late-model automotive treasures in their online sales. Looking to buy a classic car in the UAE? Here are a few things that you need to keep in mind to register a classic car in the UAE.
Check out the list of used cars on sale in the UAE and new cars on sale in the UAE.
