LaSource Launches Exclusive Global Off-Market Auction Platform
LaSource, one of the world’s leading services connecting buyers and sellers of the most exclusive and elusive cars, has launched a new off-market auction platform: LaSource Auctions. This innovative service redefines the process of selling and buying rare and valuable cars, offering unmatched discretion, efficiency, and access to an elite global audience for the exclusive sale of models like the Mercedes-Benz 300SL ‘Gullwing’ and – coming Sunday 2nd February – a one-of-27 1991 road-legal Jaguar XJR-15.
Built on an “off-market and double-blind” process, the web application provides sellers with the unique ability to solicit offers from a carefully vetted pool of buyers while ensuring absolute privacy. Unlike traditional auctions, only approved users can view the cars listed, and offers are presented to sellers at the end of a typical 14-day auction period. Sellers can select the most suitable offer, considering both the bid amount and the buyer’s location. Once an offer is accepted, only the seller can initiate contact, maintaining confidentiality throughout the transaction.
The LaSource Auctions platform
The LaSource Auctions platform has been meticulously designed to cater to the needs of both sellers and buyers, using LaSource’s expertise in securing sales for the rarest and most valuable cars in the world. For sellers, it offers a fee-free, discreet way to test the market, particularly for rare collectable cars that don’t often come to market. This service is especially beneficial for those looking to sell cars quickly, privately, or to gauge interest without committing to the high fees of traditional auction houses. Buyers, on the other hand, gain access to a curated selection of highly desirable, off-market vehicles and benefit from competitive premiums and a simplified, transparent process, free from any worries of fraud or ‘broker chains’, in which sellers claim to have access to a car, but in fact only have access to another broker who may or may not have direct access to the car.
Adam Geake, Co-founder and COO, LaSource Auctions, said: “Registration is a rigorous process to ensure each user of the platform is fully vetted. Applicants must provide photo identification, proof of address, and proof of funds, ensuring the exclusivity and integrity of the platform. Approved users can then access a seamless, four-step process to list their vehicles, with guidance available from LaSource’s dedicated Client Services Team.
James Banks, founder of LaSource, said: “This platform reflects our dedication to providing a service that prioritises discretion, trust, and efficiency. It empowers sellers to connect directly with serious buyers while eliminating the hurdles of broker chains or even the complications and expenses of a traditional physical auction. With a portion of the cars we deal in being invite-only build slots for in-demand hypercars, there’s an additional layer of trust, with buyers free from the worry of the condition of the car, since it comes straight from the factory.”
The platform’s standout features include its non-binding offers, ensuring flexibility for both parties and the optional concierge service, which assists with everything from contract drafting to global logistics. Additionally, the buyer’s premium for early adopters is set at an industry-leading rate of 2% (plus applicable taxes), making it an attractive option for collectors and dealerships alike.
Sellers also enjoy peace of mind knowing that offers are subject to inspection and final agreement, protecting all parties involved. Notifications keep users informed throughout the process, including alerts for outbids and auctions nearing their conclusion.
Keith Holland, Head of Competition Cars at LaSource Auctions, said: “The platform addresses a crucial need in both the collector and competition car markets, where discretion is paramount. The rarest road cars and significant competition vehicles have historically changed hands through private networks rather than traditional channels. Our platform provides the perfect balance – offering exceptional automobiles to a highly qualified audience while maintaining the confidentiality that both buyers and sellers expect at this level of the market. It’s a valuable outlet for active race teams managing their fleets, as well as for collectors looking to discreetly adjust their portfolios of the world’s most significant motorcars.”