Car buying service LaSource has launched a new off-market auction platform called LaSource Auctions. The site is designed to redefine the process of selling and buying rare and valuable cars, offering discretion, efficiency and access to an elite global audience.
Exclusive sales include models such as the Mercedes-Benz 300SL Gullwing and—coming next week—a one-of-27 1991 road-legal Jaguar XJR-15.
Built on an “off-market and double-blind” process, the web application allows sellers 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 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, meanwhile, gain access to a curated selection of highly desirable, off-market vehicles and benefit from competitive premiums and a simplified, transparent process.
“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,” said Adam Geake, co-founder and COO, LaSource Auctions. “Approved users can then access a seamless, four-step process to list their vehicles, with guidance available from LaSource’s dedicated Client Services Team.”
The platform’s features include non-binding offers, ensuring flexibility for both parties, and the optional concierge service, which assists with everything from contract drafting to global logistics. The buyer’s premium for early adopters is set at 2% (plus applicable taxes), making it an attractive option for collectors and dealerships.
“This platform reflects our dedication to providing a service that prioritizes discretion, trust, and efficiency,” said James Banks, founder of LaSource. “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.”