F1 and RM Sotheby's in auction collaboration
Formula 1 motor racing has entered into a multi-year global partnership with RM Sotherby’s, the international automobile auction company.
As part of the agreement, RM Sotherby’s will collaborate with F1 to stage auctions at selected Grands Prix to sell Formula 1 cars and memorabilia.
Through the partnership the two parties “plan to grow in both scope and scale, incorporating both live Grand Prix-based sales and online auction capability."
The first year of the partnership will culminate with an auction at the season-ending Abu Dhabi Grand Prix, which will represent the region’s first ever international collector car auction.
The auction will take place at the Yas Marina Circuit on 30 November.
The deal was brokered by MPA Commercial, the commercial arm of MPA Creative, the UK-based motor sport and event communications agency.
Burrows, chief operating officer of MPA
Commercial, said: “The partnership between Formula 1 and RM Sotheby’s brings together two global leaders in their respective fields. The chance to host the first ever event at the Yas Marina Circuit over the Abu Dhabi GP weekend is the perfect setting to launch the partnership. We expect the auctions will establish themselves as a great addition to the F1 spectacle long-term.”