The new era in classic car purchases may be upon us with the first ever sales transaction completed over social media using a mobile pay service.
Coys, the UK-based international auction house that has been in operation for nearly a century, sold a 1964 Aston Martin DB5 on the next generation platform Vero (a next-generation social network mobile app that attempts to replicate the nuance, control and consideration people use to connect and share in real life), and the payment method for the £825,000 purchase (about $1.33 million Canadian) was Apple Pay (the largest known transaction ever).
“This is an exciting achievement for COYS digital presence, which signals a new era for classic car sales,” said Chris Routledge, CEO of COYS. “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.”
“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,” said Ayman Hariri, Co-founder and CEO of Vero. “With Vero's unique Buy-Now feature, Coys is offering collectors a new way to purchase the cars they've always dreamed of owning.”
Coys had announced at the 2016 Mondial de L’Automobile in Paris that it would allow the purchase of certain historic cars through Vero including the classic Aston Martin, a highly-sought-after right-hand drive silver coupe with red leather interior. It had undergone an engine rebuild, and suspension and gearbox overhaul.
The anonymous buyer bought the DB5 after seeing it at the Paris show.
“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,” said Chris Routledge, CEO of COYS. “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.”
Other historic cars currently listed and available for instant purchase on Coys’ Vero profile include a Ferrari Dino 246 once owned by Peter Grant (manager of rock legends Led Zeppelin), an Ferrari Daytona and a Bentley Continental S2.