British company seeks to broaden market with events at Bicester Heritage
British-based auction house Bonhams has announced a new division, Bonhams MPH, which will focus on “the growing modern and affordable classics market.”
Operating as a separate entity within Bonhams, the new division will be based at Bicester Heritage, a British business park dedicated to classic cars and motorsports, the company said, where it will hold monthly valuation and photography events as well as several auctions.
The inaugural auction is scheduled for September 26 for the new brand, which is being led by Rob Hubbard, who relocates from Bonhams’ New Bond Street department. Consignments are invited for the sale.
James Knight, the auction company’s executive director and Motoring Group chairman, said MPH is an effort to broaden thee auction company’s’ appeal.
“Bonhams’ motoring sales are known as the ‘Blue Riband’ Ribbon? of automotive auctions and until now, our sales calendar has served the higher end of the collector’s car market,” Knight is quoted in the release. “We recognize 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.”
Daniel Geoghegan, chief executive of Bicester Motion, owner of Bicester Heritage, noted, “The arrival of Bonhams MPH augments Bicester Heritage’s thriving Centre of Excellence for the classic car work, now with over 40 specialists on site alongside its events.”
In announcing its new endeavor, Bonhams went live with a new website specifically designed for the new auction division.