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The Market hammers away its competitors in classic car auction house ranking

The Market hammers away its competitors in classic car auction house ranking

Classic car auction disruptor, The Market, has ended 2019 with huge success as the year’s sales results rank the company as the second most successful classic car auction house in the UK.

Completing 2019 with an overall sales rate of 82 per cent, the online-only auction platform out-performed all but one traditional classic car auction house, while far exceeding the UK industry average sales rate of 66 per cent.

The Market also achieved an impressive 135 per cent growth in number of cars offered for auction in 2019, which generated a total sales value of £3.6 million.

“We’re absolutely delighted with the success we’ve achieved in 2019,” comments Tristan Judge, director, The Market. “While many traditional auction houses have struggled in the softened classic car market, we’ve managed to achieve huge growth and outperform almost all of our competitors. Our Trustpilot score of 4.9 out of 5 proves our online model works for both sellers and buyers, and we expect to see more and more classic car enthusiasts adopting our modern approach.”

The Market closed the year with an 86 per cent sales rate in December with highlights including a concours winning 1994 BMW 850 CSi, which sold to a bidder in the United States of America for £48,000, and a low mileage 1974 De Tomaso Pantera L which was won by its new owner for £49,000.

Upcoming sales for January and February 2020 include a rare 1969 Aston Martin DBS Vantage with an auction estimate of £110,000 to £130,000 and a 1987 Audi Quattro S1 EVO2 Rally Recreation guided at £150,000 to £200,000. 

The Market is also introducing a number of new features to its auction platform and app in 2020 to further enhance user experience. New for January, users can activate an email alert system to notify them when an auction of interest begins, and all auction winners will now automatically receive the car's full digital history file via Patina, the auction house’s sister platform, once the sale completes.

“Our aim is to provide an auction service which offers industry leading levels of user experience, customer service and value for our customers. I encourage anyone who has not yet seen our auctions to visit the website or download the app to see how we can assist with their next sale or purchase of a classic car,” concludes Tristan.

Classic car owners looking to sell their car with The Market benefit from just 5 per cent sellers’ commission and no entry fee, while buyers only pay what they bid with no fees.

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