Historically, classic car auctions have tended to focus on rare and exotic vehicles with values to match, yet the market for affordable classics has been growing steadily and now a number of auction houses are catering for this trend with bespoke offerings. International auction house Bonhams is the latest big name to enter the affordable classics market, with the launch of their Bonhams MPH offering, operating as a separate entity within the Bonhams brand and located at Bicester Heritage, the UK’s historic motoring hub.
James Knight, Bonhams executive director and motoring group chairman, said, “Bonhams’ motoring sales are known as the ‘Blue Riband’ of automotive auctions and, until now, our sales calendar has served the higher end of the collector’s car market. We recognize that the market is evolving and now covers a much broader spectrum that, until now, we have not been able to provide our service or expertise to. We are delighted that Bonhams MPH will allow us to offer the same Bonhams values to a wider audience, via a more streamlined service. We cannot wait to develop Bonhams MPH: the potential is enormous.”
Headed up by Rob Hubbard, who will be relocating from the Bond Street department, Bonhams MPH will host four drive-through sales each year to cater for modern and popular classics. The first sale will take place on Thursday 26 September and in-between events there will be monthly onsite evaluations and photography days. Another first for Bonhams will be the new MPH portal, an online step-by-step consignment method which will assist both buyers and sellers in the sales process.
The seller can complete a 100-point condition report, whereafter a member of the Bonhams MPH team will contact them to finalize the consignment process for the upcoming auction. Simplifying the process even further are three clearly defined packages, ranging from an online mention and half-page entry in the printed catalog to professional-quality photography, valeting and detailed vehicle coverage.
In keeping with the more accessible nature of the Bonhams MPH offering auction fees are modest too with sellers paying five percent + VAT and buyers 12.5 percent + VAT. Consignments are being invited for the debut sale in September with confirmed lots including an interesting collection of ex-SAS and military Land Rovers, as well as three Renault Sport hot hatches.
Images courtesy of Bonhams MPH
