Currently reading: How online car auctions are changing legacy auction business model

Traditional classic car auctioneers are facing a threat from booming online marketplaces

Faced with extended lockdowns, reduced travel, a squeeze on new car sales and not much else to spend money on, the wealthier among us have been going online to buy classic and enthusiast cars. In fact, the pandemic has substantially boosted the income of online auction companies and changed the business model of the traditional auction house.

Last year, for example, Collecting Cars, a London based online classic car auction, claimed it had sold cars totalling £135 million, a record for the company, which started in 2018.

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