CLASSIC CAR: A 1964 Aston Martin DB5 has become the first classic-car sale completed via social media when it was sold for more than R14-million on the next-generation platform Vero.Image: Newspress
England - Gone are the days of walking into a dealership or bidding at a vehicle auction. With new technology and social media it's now possible to view and purchase vehicles from your smartphone.
One buyer purchased a classic British sports car via a social platform and paid for it via an app.
The future of classic-car buying
A 1964 Aston Martin DB5 has become the first classic-car sale completed via social media when it was sold for £825 000 (more than R14-million) on the next-generation social platform Vero.
The sale, organised by by international auctioneers Coys, marks the largest known transaction made via Apple Pay.
In storage for 20 years
According to Coys: "The car is one of the highly sought-after right hand drive silver birch models with red leather trim. It has undergone a full restoration - including engine rebuild, suspension and gearbox overhaul following 20 years in dry storage, during which time it was not used."
Coys had announced earlier in October at the Paris Motor Show, that customers would be able to purchase a selection of historic cars via Vero, including the iconic DB5.
The buyer, who wished to remain anonymous, purchased the DB5 with Apple Pay directly from the Coys profile on Vero.
Hitting the 'buy now' button
Chris Routledge, CEO of Coys, said: “The proud new owner saw the DB5 at the Paris Motor Show, he was overjoyed to see the car of his dreams and didn’t want to lose it… he was keen to quickly get in front of the queue, so a few days later he hit the ‘Buy Now’ button on Vero to guarantee the purchase, leaving two other collectors disappointed in his wake.
"This is an exciting achievement for Coys digital presence, which signals a new era for classic car sales. The ‘Buy Now’ feature on Vero will give informed and savvy collectors a crucial head start in a highly competitive market place. Collectors worldwide fight fiercely amongst themselves to obtain the best machines and we certainly feel that Coys presence on Vero will give our clients that essential edge.”
Ayman Hariri, co-founder and CEO of Vero, said: “Classic cars set the pulse racing like few other things. We’re delighted that Coys have chosen Vero as the platform to express their love of classic cars. Coys remind us of the influence classic cars have on us through movies such as the Italian Job, Ronin, and of course, Bullitt. With Vero's unique Buy-Now feature, Coys is offering collectors a new way to purchase the cars they've always dreamed of owning.”
CLASSIC BRITISH SPORTS CAR: This 1964 Aston Martin DB5 has been sold for more than R14-million. Image: Newspress/Coys
Other historic cars currently listed and available for instant purchase on Coys’ Vero profile include a £400 000 Ferrari Dino 246 once owned by Peter Grant (manager of the legendary band Led Zeppelin), an £800 000 Ferrari Daytona and a £295 000 Bentley Continental S2.