Auction house profile: The Market

Founded in 2016, The Market isn’t like other classic car auction houses. All our auctions are online and are hosted on our own state-of-the-art bidding platform and phone apps, offering the highest levels of transparency, accessibility, convenience and security. We have the highest sales rate in Europe (~90%) as well as the most competitive fees in the industry (5% sellers’ commission (inc VAT) and zero buyers’ fees). 

How is my car valued?

The first step is to submit your entry online or use the contact form to request a call back from a member of our team.

We value your car based on a discussion, details about your car, photos etc and an analysis of how much similar cars have sold for recently.

How many sales do you have a year?

Our online-only auction format means that there are auctions starting and ending every day, meaning you don’t have to wait weeks or months for auction day. Each auction typically lasts 7 days. We are now selling approximately 40 cars per month and have sold a total value of over £4 million.

Is there a seller's fee?

We charge only 5% commission (inc VAT) on a successful sale price (minimum £250).  Remember, we have no buyer’s commission which means that the seller receives 95% of the buyer’s ‘cheque’. This is market-leading and a huge difference compared to established auction houses. On a £50,000 sale price, The Market usually returns more than £8500 more. See how much you save by using our commission calculator here: https://themarket.co.uk/save.

What differences are there for having the auction listings online?

The Market produces the richest auction listings available by having over 100 photos of each car showing all relevant details, plus we display all parts of the car’s history. We also write the text detailing all relevant facts allowing bidders from across the country and worldwide to know all about the car. Our online knowledge then allows us to optimise our digital marketing and advertising ensuring each listing is inspected by thousands of potential buyers.

All of these features can be delivered at very low costs compared to running a physical auction in a smart venue, thereby allowing us to dramatically reduce our commissions.

Of course all bidders can visit each and every car, start them up and take it for a ride, increasing their bidding confidence; great for both buyers and sellers.

How are auction listings generated?

There’s no fee to list a car for sale on The Market. If you would like to keep the car at home and host viewings, we recommend using one of our photographers who can generate the full photography for around £125.

We also have the Concierge service at our HQ to provide professional photography, storage, handling of all viewings and handover for just £250.

All auctions include a professionally written auction listing which always aims to offer the most transparent description of any car.

Is there a buyer’s fee?

No. Zero, zilch, nada - you pay what you bid. There is no buyers’ commission and no hidden charges.

How long after the auction will I have to wait for payment?

Once the auction closes the winning bidder will be asked to place a 5% deposit via The Market platform. The remaining 95% will be settled directly between the seller and buyer via a method that you both agree on. This is all expected to be completed within 7 days.

Are there any hidden charges? 

None at all.