Online auction marketplace Collecting Cars has launched a new car auction format called Sealed Bids – where only bidders know their position and only winners know the final price.
Sealed Bids will focus on blue-chip classics and supercars, and any car in the world is eligible… provided it costs more than £250,000.
During each seven-day Sealed Bids auction, all parties remain anonymous until the winning bidder is connected with the seller after the auction closes.
Auctions follow the same seven-day format as Collecting Cars auctions. The only difference is that the pre-vetted bidders will never know how much the other bids are for.
They also won’t know what the car ultimately sells for, or who the other bidders were. The aim is to keep competition discreet, preserve the integrity of the sale and help protect future values for all parties.
“With Sealed Bids, we’re addressing the evolving needs of the collector car market,” said Collecting Cars founder Edward Lovett.
“Buyers and sellers increasingly seek a process that balances transparency and professionalism with the privacy essential for high-value transactions.”
Sealed Bids will provide “a discreet, structured environment where collectors can confidently compete for rare cars, or those requiring a more discreet sales approach”.
Six cars are confirmed to go live in the inaugural auction, which commences on 28 August. They “perfectly illustrate the calibre of collector-grade cars that will benefit from this new format,” said Lovett.
Following the inaugural auction, which completes on 4 September, the aim is for four to six exotic cars to be auctioned by Sealed Bids each month.
As with Collecting Cars, winning bidders only pay the hammer price – with no buyer’s premium – while sellers pay a pre-agreed fee.
Since its launch in 2019, Collecting Cars has sold more than 20,000 lots and generated sales of more than £900 million.
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