The Market


Bonhams to be official Formula 1 Paddock Club auction partner

Bonhams to be official Formula 1 Paddock Club auction partner 1st December 2022

The Bond St firm has signed a partnership agreement with the owners of F1 that will see a Bonhams auction of cars and “associated luxury lots” under the lights on the starting grid at the final race of the 2023 season at Abu Dhabi. The announcement was made at this year’s Championship-closer on 19 November.

The deal was put together by Maarten ten Holder, Managing Director, Bonhams Collector Cars, and Brandon Snow, Managing Director – Commercial, Formula 1. While at RM' Sotheby's, ten Holder was at the rostrum for its inaugural venture at the same event in 2019. On that occasion the Canadians did their usual impressive job, but with local tax issues, and the fact that serious Gulf collectors usually just buy cars new (often owning the franchise), it proved hard going and the final sell-through by number was an only average 58%.

In future years the new set-up envisages sales at other venues, and the Brits are known for specialising in collectable watches, jewellery and luxury vintage luggage. Which begs the question, when will the latter feature in an early morning, pre-practice auction?

Handbags at dawn at a Grand Prix – it’s not been unknown.

Photo courtesy of Bonhams (copyright Motorsport Images)