Market Intelligence
The RM Guarantee
This article analyzes the results of RM's online auction, Open Roads, that was held in May and June. The author studies the sales data and discusses how the auction market has responded to RM's specific target audience and guarantee offered by the brand. The author also examines specific car sales at the auction, including two Ferraris from the collection of Guy Berryman, the bassist from Coldplay, to determine if the notoriety of the owner increases the value of the car. The article concludes that the data indicates that RM has created its own market segment, but there was no indication that the market gave Guy Berryman's cars a particular premium for the celebrity connection.
As I study the sales lots from RM’s online auction with the radio nearby, Coldplay’s latest single comes on. Coincidentally, I notice that among the cars offered at this auction, there are also two Ferraris from the collection of Higher Power, the bassist from Coldplay. Will the Higher Power work for him too, that is, will the value of his cars increase as a result of the notoriety of the owner?
Before we find out we should look at the last two “Open Roads” auctions, the name given to RM’s online-only auctions. The first with offers that opened on 19th May and closed on 26th May, the other from the 23rd to the 30th of June.
