Questions About | Sealed

Sealed isn’t constrained by a conventional auction schedule, though we do typically offer small groups of cars together on a monthly cadence. The regular schedule ensures greater client awareness and benefits from joint marketing efforts, while bidders may also be interested in more than one car in a particular sale.

No, each car and each sale are dealt with on an individual basis according to a client’s needs and to maximise interest in a lot. Certain high value or historically significant lots can be offered as standalone Sealed auctions. Please reach out to a member of the team to discuss all the available options.

Providing all documentation is in order and processes duly followed, it can be possible to bring your car to market in as little as three weeks. However, a greater lead time will enable a more comprehensive marketing strategy and, ultimately, a stronger result.

Since its launch in 2022, Sealed has handled the sale of all manner of collector cars ranging from pre-war to the latest modern-day hypercars, with values ranging from $20,000 to $20,000,000+. The platform has also been used to sell other collectibles, from game-worn sports jerseys to precious stones. To discuss your lot in further detail, please reach out to a member of the team.

Sealed has bricks and mortar showrooms and storage facilities in the US, the UK, and Continental Europe, but operates globally thanks to a broad specialist network supported by Sotheby’s and RM Sotheby’s. There are very few territories in which a Sealed sale isn’t possible, though tax implications can affect your decision. To find out more, contact a member of the team.

Please visit our Register to Bid page here. Please note that you will be required to create an account on rmsothebys.com. Once your registration has been processed, you will receive a confirmation from one of our Client Service Representatives via email.

Unlike traditional auctions, there is no fee for registering to bid.

Photo identification (driver’s license or passport) and a valid credit card used for the authorization. We also require a document providing proof of funds (recent bank statement, brokerage account statement, or a letter directly from your bank). Samples can be found on our website here.

If registering as a dealer, we require a copy of your dealer license and resale tax certificate. If you are registering as a company, we require proof of company, which includes copies of incorporation documents, VAT/Tax number. 

Credit cards serve as a means to verify credit history as well as a security measure for payment. All information will be kept confidential.

The authorization placed on your credit card is not an actual charge. This is simply a hold that will automatically drop off your account between 7-30 days following the auction (depending on your financial institution). This will show as pending on your account and will not cause interest to accrue on your account. This is required to register as a bidder and simply acts as a security measure for payment. 

A document providing proof of funds can be a recent bank statement, a brokerage account statement, or a letter directly from your bank providing an available or average balance and showing your name is tied to the account. Samples can be found on our website here.

Yes – typically to show that you have sufficient funds to cover estimate, unless prior financing has been agreed.

You will receive an email from a Sealed team member within 24 hours of registering. If we have received all required documentation, we will inform you in the email that you are fully approved to bid. If additional information is required to approve your registration, it will be explained in the email.

If a lot is offered without reserve, it means it will sell to the highest bidder, regardless of the price achieved. 

Our terms and conditions for each Sealed auction describe the conditions of business under which RM Sotheby’s and the consignor agree to sell a lot to the purchaser. Please review the conditions carefully before bidding. By registering to bid and/or by bidding in a Sealed auction, you agree to these terms.

For a Sealed auction, you will only be able to see your own submitted bid—not the high/winning bid (unless you are the high bidder). The delta between bidder positions will not be disclosed.

Please enter the amount you would like to bid and click “Place Bid.” If your bid is greater than the current high bid, you will be the new high bidder, otherwise you will see where your current bid ranks.

You may elect to raise your bid at any time while the lot is still open for bidding.

OUTBID NOTIFICATIONS: If you were the high bidder, but a bid placed by another bidder exceeds your bid, you will be notified via the email address or mobile number you have set in your account preferences, and the lot page will indicate you have been outbid by the change in your ranking.

ANTI-SNIPE FEATURE: If a bid is placed within the final 90 seconds that causes that bidder to be ranked in the top three, the time remaining in the auction will reset to 90 seconds to prevent a bidder from trying to place a high bid in the final moments of the auction. This also gives the new bidder time to consider raising their bid further if they are not the high bidder.

LOTS WITH RESERVE: Some lots may be subject to a reserve price, or a minimum amount that a seller will accept as the winning bid. The reserve price will remain confidential. For lots with a reserve price, your bid must meet or exceed the reserve to win the lot. If any bid meets or exceeds reserve, that will be noted on the bid portal. In the event you are the highest final bidder, but your bid has not met the reserve price, the lot will not sell.

Note: When a motor car or any other lot is sold subject to such reserve bid, the auctioneer (RM Sotheby’s)  may bid on the Consignor’s behalf in an amount not to exceed the amount of the reserve bid.

LOTS WITHOUT RESERVE: If you are bidding on a lot that is “offered without reserve,” you will win the lot if you are the high bidder at the time bidding closes.

Following the close of the auction, please contact an Sealed Car Specialist to make an offer.

All payments must be made in the form of certified funds. This includes cash, wire transfers, and certified checks. You may also pay with a personal/company check as long as it is accompanied by a Bank letter of Guarantee. A sample of the bank letter of guarantee can be found on our website here. We now also accept Cryptocurrency as a form of payment via BitPay. This requires a BitPay account to be able to use for any payments. 

To discuss buying a car offered in inventory, please contact one of our representatives at private@rmsothebys.com or one of our private sale team members listed here.

Prior to an RM Sotheby’s auction, the intended buyer must have a pre-approved BitPay ID

• To get a BitPay ID you can visit https://bitpay.com/signup
• RM Sotheby’s and BitPay reserve the right to deny any BitPay ID application
• If you are the winning bidder, BitPay will then send you an email invoice to which you will complete your payment using your BitPay ID and following BitPay’s payment procedure. In general, the steps are:

1. Sign in to your BitPay account that correlates with your BitPay ID
2. Select the 'View Bill' button within your email invoice
3. Review and verify the invoice details, selecting the 'Pay with BitPay' button to proceed
4. Select the wallet and cryptocurrency you want to pay with
5. Scan the QR code or copy and paste the payment details into your wallet
6. Confirm the payment request in your wallet
7. Congratulations! Your payment has been successfully processed

Further instructions can be found here: https://support.bitpay.com/hc/en-us/articles/115005559826-How-do-I-pay-a-BitPay-invoice-

DISCLAIMER: In Step 5, the exchange rate is locked for 15 minutes. RM Sotheby’s and BitPay are not responsible for any exchange rate changes when payment does not occur within the 15-minute period.

BitPay is the world’s largest provider of bitcoin and cryptocurrency payment services. Founded in 2011, while Bitcoin was still in its early stages, they set out to revolutionize the financial industry—making payments faster, more secure, and less expensive globally. BitPay pioneered blockchain payment technology to transform how businesses and people send, receive, and store money worldwide. A decade later, BitPay is still creating more tools and services for everyone to use in innovative ways.

Bitcoin is a secure, digital currency that can be used to exchange money over the Internet. There are no central banks or authorities. Bitcoin is truly open—compatible across platforms, technologies, and even borders. It's great for fraud protection too! With no credit card numbers for someone to steal, it's safe and secure.

A cryptocurrency is a digital or virtual currency that is secured by cryptography. Many cryptocurrencies are decentralized networks based on blockchain technology—a distributed ledger enforced by a disparate network of computers. The word cryptocurrency is derived from the encryption techniques which are used to secure the network. Examples of cryptocurrencies include Bitcoin, Bitcoin Cash, Dogecoin, Ethereum, and Litecoin.

BitPay supports leading coins including Bitcoin (BTC), Bitcoin Cash (BCH), Dogecoin (DOGE), Ethereum (ETH), Litecoin (LTC), Wrapped Bitcoin (WBTC), and 5 USD-pegged stable coins (BUSD, DAI, GUSD, USDP, and USDC).

BitPay supports more than 90 different crypto wallets and exchanges including BitPay, Coinbase, Exodus Wallet, Ledger Wallet, Trust Wallet, Electrum Wallet, Blockchain Wallet, Metamask, Crypto.com, Gemini Wallet, Kraken, BRD Wallet, and more.

In order to process cryptocurrency, there is a vendor fee of 1% that is applicable to the total invoice amount. The total invoice amount includes the hammer price of your bid, plus any applicable VAT. The embedded BitPay invoice includes the 1% added vendor fee.

You can see current exchange rates for all supported coins by visiting https://bitpay.com/exchange-rates/.

All individuals are required to pay tax unless otherwise exempt. To understand exemptions, please contact a member of our Client Team.

Following the auction, you will receive an invoice and payment instructions from our Client Team. Payment is due in full on the first business day following the sale. The Client Team will then work with you to arrange transport of the lot to its final destination.

Reliable Carriers
Contact - Bob Sellers
+1 413 537 3354
bsellers@reliable-carriers.com

CARS
James Walker
+44 7908 645 852
james@carseurope.net

Cosdel
Sara Rider
+1 925 451 1136
sara@cosdel.com

Title and registration documents will be sent to you within 20 business days following the auction and/or receipt of funds.

Yes, we are pleased to offer several options for financing including Consignor advantages, Equity Releases, Acquisition financing/Bridge loans, and Portfolio loans. More detailed information can be found on our website here.

Clients are invited to contact a member of our specialist team to discuss the potential consignment directly, or can submit a request for valuation here.

To sell a vehicle with Sealed, the consignor is responsible for a marketing fee as well as a seller's commission. These costs differ depending on the route to sale. One of our specialist team will review with you when discussing your property.

We are pleased to offer a variety of routes to sale, including Sealed Auctions, private treaty sale transactions, and live auctions through RM Sotheby's.

The seller’s commission is a percentage of the sale proceeds owed to Sealed for conducting the sale of your consignment(s).

You must provide any and all titles, registration documents, or appropriate documents evidencing your ownership and/or government registrations (such as Purchase Agreements and Bills of Sale) to your vehicle. Your title/registration must reflect the correct year, make, model, and VIN number of the vehicle.

Your title/registration must be given to a member of the Administration team prior to your vehicle being sold. Details on where to send these items will be outlined on your consignment agreement.

Any historical documents, photos etc. should be scanned to our archivist or couriered to one of our offices at the time of consignment. Accompanying items such as tool rolls, trophies, etc. should be placed within your vehicle prior to being shipped following a private sale or online auction.

All Sealed consignments should be in the possession of RM Sotheby’s or an agreed third-party storage facility. If you require assistance arranging transportation, a member of our Logistics team would be happy to assist you with this. Depending on the location of your car, we have preferred domestic and international shippers that we work with to transport your consignment(s).

Proceeds are paid within 21 business days after the auction, provided that all required documentation has been submitted.

If your vehicle is not sold, per our standard consignment agreement, RM Sotheby’s will retain the right and authority to advertise and sell the vehicle within 90 business days. If the vehicle fails to sell, note that you must arrange for collection by the next business day following the auction. A member of our Administration or Logistics team can assist you with this.

We provide tailored financing solutions to our clients. All of our loans are secured by motor cars, whether classic cars or modern supercars, and are mostly in the form of term loans or short-term advances against a client’s consignments with RM Sotheby’s.

The loan amount is determined as a percentage of the estimated value of the collateral (as advised by the relevant RM Sotheby’s Car Specialists). Generally, we lend about 50–60% of the estimated value of the motor car proposed as collateral, and we typically focus on loan amounts above US$200,000.

No, not at all. While we provide advances against auction and private sale consignments for Sealed clients, this is not a requirement. In fact, most of the loans provided by RM Financial Services are term loans with no commitment to sell any motor car with Sealed.

We have in-depth knowledge of the international collector car market with a world-class team of Car Specialists, allowing us to assess each car and/or collection and devise truly bespoke financing solutions, particularly for important, high-value motor cars that are typically outside the scope of traditional lending institutions. Our unparalleled market expertise and unique underwriting approach enable us to offer loans discreetly and expeditiously. Unlike conventional lenders, we are focused primarily on your motor car and less on your financial circumstances. This significantly reduces the amount of information needed from you to process the loan and allows us to fund the transactions on a timetable that traditional financial institutions would have difficulty matching.

We aim to make funds available to our clients within ten (10) days after deal terms are agreed. Processing times depend on jurisdictions and clearance of any existing liens on the collateral and inspection of motor car(s) as needed.

RM Sotheby’s Car Specialists and in-house USPAP-compliant appraisers produce comprehensive appraisal reports by considering the quality, condition, provenance, and current market for each motor car. We charge our clients approximately $500-$1,000 per vehicle (depending on the type of car and level of research required) for the appraisal of the proposed collateral.

The client is responsible for maintaining insurance coverage on the motor car(s) pledged as collateral. RM Financial Services must be named as an additional insured party and loss payee (to the extent of its interest in the collateral) under the borrower’s insurance policy.

Generally, our loans are structured for twelve (12) months and tend to be renewed at maturity.

We first ask our prospective clients to provide us with details on the motor car(s) intended for collateral and the amount of borrowing needed. Details of motor cars should include full descriptions, history and records, and high-resolution images so that our specialists may produce a more accurate initial valuation of the motor car. Our experts generally need to physically inspect the motor car prior to closing, but in most cases, we can provide preliminary valuation and financing terms based on basic information and high-resolution photographs.

As our underwriting and diligence focus mostly on the motor car(s), we require documents that allow us to verify the provenance and legal ownership for the motor car(s) proposed as collateral. The related proof of ownership is usually in the form of a title or a Bill of Sale. To the extent the proposed borrower is a corporate entity, legal documents establishing the authorization and existence will be required for such corporate borrowing.

This will depend on each circumstance and jurisdiction in which loans are underwritten and the car(s) is/are registered. In certain jurisdictions, we may allow the client to remain in possession of the pledged motor car, but the option may not be available in other locations and under varying circumstances.

An RM Financial Services expert can be reached by emailing financing@rmsothebys.com.