Epiris Fund II has acquired The Market, a digital classic car auction platform, enhancing Bonhams' digital strategy and market presence in the growing automotive sector.

Target Information

Bonhams, a prestigious global auction house and a portfolio company under Epiris Fund II, has successfully acquired The Market, a dynamic digital marketplace specializing in classic car auctions. This strategic acquisition marks the fifth add-on investment made by Fund II in its portfolio, although specific financial terms have not been disclosed. Bonhams, established in London in 1793, operates internationally with flagship locations in major cities including New York, Los Angeles, Paris, and Hong Kong, and it conducts over 400 specialized sales yearly across various categories.

The Market is a cutting-edge digital auction platform that connects buyers and sellers of classic and collectible cars and motorcycles. Since its inception in Oxfordshire in 2017, the platform has experienced rapid growth, selling vehicles worth £13 million in the past year. The acquisition will enhance Bonhams' already established motoring department, recognized for hosting prestigious sales of rare and significant motor vehicles, and will also cater to a broader audience through more affordable classic and modern car offerings.

Industry Overview

The global art and collectibles industry has shown resilience and steady growth over the past decade. The increase in online transactions, fueled by advancements in technology and changing consumer behaviors, is partic