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Auction house Bonhams launches MPH to target modern classic market

Published 17 June 2019

Auction house Bonhams has created a new operation aimed selling modern, affordable classics. Headed up by Rob Hubbard, who relocates from the New Bond Street department, Bonhams MPH is based at Bicester Heritage - the UK's only hub for historic motoring excellence.

Bonhams will hold four drive-through sales a year at the site to meet demand from the growing market for modern and popular classics. The first sale will take place on Thursday, 26 September, and Bonhams MPH will host monthly on-site valuation and photography days on the last Friday of the month from 26 July.

The Bonhams MPH service will include a simple online consignment process, which will offer both sellers and buyers an efficient way to sell or purchase a car, via the new MPH portal - a first for Bonhams. Sellers will be guided by a user-friendly step-by-step process, which includes a unique 100-point condition report detailing all aspects of the vehicle to provide buyers with as much advance information as possible. They will then be contacted by one of the Bonhams MPH team to discuss the vehicle and finalise the consignment process for the next auction.

Bonhams MPH

Sellers can then choose one of three entry fee packages to suit their needs. Bronze is the basic package and costs £125 + VAT - it provides full display on the online catalogue and a half page entry in the printed edition. Silver includes a full page in the printed catalogue at £175 + VAT, while Gold includes professional-quality photography of the vehicle by an MPH representative, as well as a minimum one-page entry in the printed catalogue and full online inclusion. In addition, the vehicle will be valeted at the sale venue (£300 + VAT).

MPH offers sellers and buyers a competitive fee structure with sellers paying 5%+VAT and buyers 12.5%+VAT. Buyers can bid the traditional way in person at the auction, by telephone, by submitting an absentee bid or online via the Bonhams MPH dedicated platform – at no extra charge.

James Knight, Bonhams executive director and motoring group chairman, said, ‘We recognise 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.’

Consignments are being invited for the debut sale on 26 September with confirmed lots including a unique collection of ex-SAS and military Land Rovers, including two of only 20 remaining‘Pink Panthers’, which are to be offered on the open market for the first time in 20 years; plus a trio of ‘hot hatch’ Renaults.

Comments

expertad    on 18 June 2019

£300 for a valet? I am in the wrong job.....

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