UP TO 99% LOWER FEES THAN TRADITIONAL AUCTIONS

The maths is simple: we take less so you get more. Our fees are up to 99% lower than other auctions.

UP TO 99% LOWER FEES THAN TRADITIONAL AUCTIONS

Collecting Cars has caused major disruption in the collector car auction industry this week, delivering the third in a series of top-tier results that challenge the biggest names in the business, while charging 99% less than them in fees.

In recent weeks, our team has sold three major Ferrari road cars with hammer prices totalling just over £7.53 million. Collecting Cars took a total of just £15,000 in buyer’s premiums – over £1.6 million less than traditional auction houses for like-for-like results.

Using identical sale prices, and worked out using seller’s commission and buyer’s premium rates at well-known auction houses (taking 10% from the hammer price plus a premium of 15%+VAT), Collecting Cars’ revenue was equivalent to just 1% of this total – meaning it was on average 99% cheaper in terms of fees across these three high-value deals. 

The first sale was a 2004 Ferrari Enzo; one of only around 40 delivered from the factory in black, and with the extended leather option. Showing 23,000 km from new, it had excellent Ferrari service history, looked after by the same main dealer for the first 13 years of its life. The winning bid was £3,276,005 – setting a collector car sales record for an online-only auction business in Europe. A traditional auction would have taken as much as £713,262 in fees from a deal of this value, but Collecting Cars earned just £5,000 – a 99.3% saving in fees. 

Another 2004 Ferrari Enzo was sold just two weeks later; this time finished in the popular Rosso Corsa colour, and with just 8,418 km on the odometer. It was one of just 31 cars originally delivered to the UK, and was also accompanied by Ferrari Classiche certification. A winning bid of £2,510,500 meant the sale price would have earned a traditional auction as much as £546,848, but again Collecting Cars took just £5,000 – a 99.1% saving in fees.

The third landmark model sold was a 1990 Ferrari F40 in factory ‘cat / non-adjust’ specification, referring to its emissions equipment and suspension setup. This original Italian market car had covered only 9,533 km from new and was fresh from a major service. Also accompanied by Ferrari Classiche certification, this F40 received a winning bid of £1,750,000. At a traditional auction, a sale at this level would have yielded up to £381,522 in fees, but Collecting Cars charged just £5,000 – a saving of 98.7%.

Launched in 2019, Collecting Cars has disrupted a 60-year-old auction business model using proprietary technology. The platform uses a ‘list for free, sell for free’ format, charging nothing to the seller of a car or bike, and only earning a 5% buyer’s premium in the event of a successful sale. As this premium is capped at £5,000 (or an equivalent value in different markets, +VAT for UK buyers), the percentage taken from a very high-value deal is remarkably low. On the sale of the black 2004 Ferrari Enzo sold for just over £3.27 million, the buyer’s premium was just 0.15%.

The maths is simple: we take less so you get more. If you have a high-value collectible car or bike to sell, and you want to keep more of the proceeds, then contact our Consignment Team today to take the first step.