Thursday 28 January 2016
H&H CLASSICS’ NEW DEAL WITH LENDERS UNBOLTED
H&H CLASSICS’ NEW DEAL WITH LENDERS UNBOLTED HELPS CLASSIC CAR AND MOTORCYCLE CONSIGNORS GAIN ACCESS TO LIQUIDITY MUCH FASTER
Leading classic car auctioneer H&H Classics have struck a finance deal that will allow auction consignors to access a significant portion of the value of their car or motorcycle well in advance of sale.
The supply agreement with Unbolted, a peer-to-peer lending platform, creates a sale advance facility providing up to 70% of the low-estimate valuation to the consignor where an agreement is struck.
Unbolted lets individuals plus small and medium enterprises borrow against their assets with the lowest lending rate in the business.
The two partners in the project are also developing a new financing solution for buyers to help them capitalise on new opportunities at auction.
Nick Delaney, Business Development Manager of H&H Classics, says: “Both types of facility are safe and reliable methods designed to bring liquidity to asset-rich collectors and entrepreneurs, allowing them to move quickly on opportunities rather than missing the boat while negotiating cumbersome and costly credit facilities with banks.
“This dynamic approach heralds a new era for H&H Classics following the ground-breaking sale of the Richard Colton collection in October.”
That multi-million pound sale at the Imperial War Museum, Duxford, Cambridgeshire included some of the world’s finest cars, such as the late Richard Colton’s 1960 Ferrari 250GT SWB, sold for £7,392,000 ($11.5m), a world record for a steel-bodied example, which alone made H&H Classics one of only five auction houses to sell a car at auction for more than $10,000,000.
The sale made headline news round the world as the proceeds from that and another Colton Ferrari, which took £2.16m, constituted the largest single gift ever made to Britain’s favourite charity, the Royal National Lifeboat Institution (RNLI), the sea rescue service that patrols the country’s coasts.
Mark Magnacca, Chief Marketing Officer of Unbolted says: “H&H is one of the leading motor vehicle auction houses and they have already been providing the valuations and storage for our existing customers. This new facility will easily unlock the investment value for H&H’s network of collectors and car enthusiasts.”
Unbolted is part of the technological revolution. It is an online-only, peer-to-peer (p2p) asset lending platform. “We saw the transformation of financial services and wondered why no-one had provided the mass affluent with access to the same type of services that private banking customers have received for years,” explains Co-Founder Rito Haldar.
Nick Delaney agrees: “H&H Classics are constantly looking at ways of making it easier for our clients to do business. Removing unnecessary barriers, as with this scheme, is part of that process.”
H&H Sales this year take place at the following venues and dates.
Donington Park – Wednesday 24th February
Duxford – Wednesday 20th April
Chateau Impney: Hill Climb – Saturday 9th July
Donington Park – Thursday 28th July
Duxford – Wednesday 12th October
Donington Park – Wednesday 16th November
Chateau Impney – Wednesday 7th December
COYS AUCTION UPDATE
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Wednesday 27 January 2016
H&H CLASSICS WINS TOP MARKETING NOMINATION FOR RNLI- COLTON FERRARI CAMPAIGN WHICH RAISED £8.5M FOR THE LIFEBOAT CHARITY
H&H CLASSICS WINS TOP MARKETING NOMINATION FOR RNLI-COLTON FERRARI CAMPAIGN WHICH RAISED £8.5M FOR THE LIFEBOAT CHARITY
H&H Classics have been nominated by the Chartered Institute of Marketing for its SME Marketing Campaign of the Year Award for the work the classic car auction house did on the Colton Classic Car Collection sold on behalf of the RNLI at IWM Duxford last year.
H&H Classics has been chosen as one of the top ten finalists from a list of thousands of entrants by the CIM which is one of the biggest marketing institutes in the world.
H&H Chairman, Simon Hope said: “A huge thank you and congratulations to everyone who contributed to the marketing and sale of the Colton Ferraris, which made a world record price which will pay for several new lifeboats for the RNLI. We won the right to sell the Ferraris against stiff opposition on the basis of our marketing expertise which this nomination once again spotlights.”
The classic sports cars were bequeathed to the Royal National Lifeboat Institution (RNLI) by millionaire businessman Richard Colton, who died last year aged 82. The two Ferraris were a 1960 Ferrari 250 GT short-wheelbase (SWB) Berlinetta chassis 1995 GT, of which just 167 were made with only 10 being supplied new to the UK market, and a 1967 Ferrari 275 GTB/4 chassis 10177 GT, thought by many to be the ultimate front-engined, Enzo-era Ferrari road car. They both exceeded expectations, the 1960 Ferrari 250 GT taking £6,600,000 and the 1967 Ferrari 275 GTB fetching £1,930,000.
Speaking after an auction at the Imperial War Museum Duxford, in Cambridgeshire, the RNLI's chief executive Paul Bossier said: "We are overwhelmed by the sale price of the two Ferraris, a legacy so generously gifted to our charity by car enthusiast Richard Colton.
"His legacy will help our volunteer crews carry out their lifesaving work around the coast. In line with Mr Colton's wishes, some of the money raised from the sale will go towards funding a new Shannon class lifeboat which will be named after his Mr Colton and his late wife, Richard and Caroline Colton."
Simon Hope, managing director of H&H Classics which ran the auction, said: "This is a dream result for us. We have worked relentlessly with the RNLI over the past few months, promoting the cars all over the world, to ensure that we honoured the memory of Richard Colton properly. The sale result, including a new world record price for a steel-bodied Ferrari 250GT SWB, vindicates that effort and we are more than proud to have been a part of a legacy that will help save lives in the future."
Mr Colton, a Northamptonshire businessman, had a distinguished career in footwear distribution and collected classic cars for 40 years.
What are the Awards?
CIM’s prestigious Marketing Excellence Awards were developed to recognise and reward brilliance in the field of marketing. Now entering its seventh year, these awards are a fantastic way to raise awareness of the creativity and originality delivered by marketers who are at the forefront of our profession, as well as recognise and celebrate the achievements of marketing teams and individuals alike.
H&H CLASSICS WINS TOP MARKETING NOMINATION FOR RNLI- COLTON FERRARI CAMPAIGN WHICH RAISED £8.5M FOR THE LIFEBOAT CHARITY
H&H Classics have been nominated by the Chartered Institute of Marketing for its SME Marketing Campaign of the Year Award for the work the classic car auction house did on the Colton Classic Car Collection sold on behalf of the RNLI at IWM Duxford last year.
H&H Classics has been chosen as one of the top ten finalists from a list of thousands of entrants by the CIM which is one of the biggest marketing institutes in the world.
H&H Chairman, Simon Hope said: “A huge thank you and congratulations to everyone who contributed to the marketing and sale of the Colton Ferraris, which made a world record price which will pay for several new lifeboats for the RNLI. We won the right to sell the Ferraris against stiff opposition on the basis of our marketing expertise which this nomination once again spotlights.”
The classic sports cars were bequeathed to the Royal National Lifeboat Institution (RNLI) by millionaire businessman Richard Colton, who died last year aged 82. The two Ferraris were a 1960 Ferrari 250 GT short-wheelbase (SWB) Berlinetta chassis 1995 GT, of which just 167 were made with only 10 being supplied new to the UK market, and a 1967 Ferrari 275 GTB/4 chassis 10177 GT, thought by many to be the ultimate front-engined, Enzo-era Ferrari road car. They both exceeded expectations, the 1960 Ferrari 250 GT taking £6,600,000 and the 1967 Ferrari 275 GTB fetching £1,930,000.
Speaking after an auction at the Imperial War Museum Duxford, in Cambridgeshire, the RNLI's chief executive Paul Bossier said: "We are overwhelmed by the sale price of the two Ferraris, a legacy so generously gifted to our charity by car enthusiast Richard Colton.
"His legacy will help our volunteer crews carry out their lifesaving work around the coast. In line with Mr Colton's wishes, some of the money raised from the sale will go towards funding a new Shannon class lifeboat which will be named after his Mr Colton and his late wife, Richard and Caroline Colton."
Simon Hope, managing director of H&H Classics which ran the auction, said: "This is a dream result for us. We have worked relentlessly with the RNLI over the past few months, promoting the cars all over the world, to ensure that we honoured the memory of Richard Colton properly. The sale result, including a new world record price for a steel-bodied Ferrari 250GT SWB, vindicates that effort and we are more than proud to have been a part of a legacy that will help save lives in the future."
Mr Colton, a Northamptonshire businessman, had a distinguished career in footwear distribution and collected classic cars for 40 years.
Thursday 21 January 2016
H&H AUCTIONEERS - DONINGTON PARK AUCTION NEWS
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