Sotheby's Motorsport Is The New Go-To Auction Site For Exotics

Auction house RM Sotheby's and Motorsport Network have joined forces to launch Sotheby's Motorsport, a new online auction website dedicated to modern luxury vehicles, exotics, and sports cars priced between $100,000 and $1,000,000. Yes, no longer will wealthy Ferrari orPorsche aficionados like Jerry Seinfeldhave to scroll through scores of beat-up Corollas and Civics to find the latest addition to their car collections.

By total sales, RM Sotheby's is the largest auction house in the world. Recently, itauctioned off a fleet of 21 Le Mans racersworth millions. Motorsport Network is recognized on the global stage for representing the motorsport and automotive industries. Sotheby's Motorsport aims to combine the best of online and live in-person auctions that cater to a high-end clientele.

"The high-end segment of the automotive market, which accounts for $20 billion in annual sales in the United States, deserves a superior level of service, confidence, and client satisfaction than what is currently offered by many auction sites," said Chip Perry, CEO of Sotheby's Motorsport. "Sotheby's Motorsport is a true luxury experience that is designed to serve this untapped market. With this new experience, both buyers and sellers can have confidence knowing that we have vetted the vehicles [and] bids and will deliver a white-glove service from start to finish."

Each listing on Sotheby's Motorsport will include high-res, unedited images of all angles of the car, including the exterior, interior, engine bay, and undercarriage. Driving videos and a third-party inspection report will be included, giving buyers the best possible look at the car they're considering. A Proxy Bidding feature will allow bidders to set a maximum bid and win even if they can't be present when the auction closes.