New acquisition brings auction monitoring into the Motorsport Network Driven Lifestyle Division.
Miami, May 20th, 2021 – Motorsport Network has acquired Hammer Price, a pioneering collector car pricing tool and auction data aggregator, presenting a new business solution for clients, the first and only way to follow multiple international car auctions in one streamlined format on a smartphone or tablet providing comprehensive data insights for car collectors, dealers and enthusiasts worldwide. This comes as recent reporting suggests growing interest in collectible cars worldwide.
For dedicated collectors and dealers, Hammer Price presents an unmatched experience with intricate hand-crafted auction data in real-time and an impressive reach as the largest source for international collector car auction results. The platform offers users the ability to view and follow multiple car auctions simultaneously. With year-round reporting, users can reference deep historical data on past sales, preview upcoming auctions, and receive customized alert notifications on vehicles of interest. Auction results instantly update as each car crosses the block. The advanced pricing tool features complete final sales results with buyer premiums and it seamlessly converts USD pricing into foreign currencies, with multi-language integration to follow shortly.
Hammer Price joins Motorsport Network’s Driven Lifestyle division along with the recently announced duPont Registry acquisition. The new division is the culmination of the culture, community and commerce of the world’s luxury and classic automotive lifestyle in one ecosystem. The Driven Lifestyle portfolio features Canossa Events, synonymous with excellence in road touring, that organizes nearly 270+ marquee experiences per year for driving enthusiasts. Part of Canossa Events, Cavallino is a preeminent media and concours events company, hosting landmark events for high-end automotive collectors and admirers such as the 30th Annual Palm Beach Cavallino Classic. Hammer Price is positioned as a perfect fit with Cavallino, which has established a powerful network of content serving a global Ferrari community. The new Hammer Price website will benefit from the cross-promotion and integration within the Driven Lifestyle division. Additionally, with FerrariChat, the leading global social platform and foremost voice on Ferrari, with 20+ years of experience connecting 200K engaged registered members, Hammer Price has direct access to a highly engaged and knowledgeable Ferrari audience.
Harley Cluxton IV, current owner of Hammer Price, will continue to work with the business, joining Motorsport Network as Product Manager for the service. Leveraging Motorsport Network's global audience reach, Cluxton will oversee the launch of the new Hammer Price platform, elevating the service from an app-only product to a diverse portfolio of integrated solutions.
The new business grows Motorsport Network's reach in the Automotive sector, expanding their expertise and knowledge to a new audience. The invaluable data on high-end luxury and classic cars auction history cataloged by Hammer Price provides an incredible opportunity for Motorsport Network to offer car collecting to more consumers, through their 56-million+ monthly users, and gain appeal to a new set of potential partners and business associates.
Harley Cluxton IV of Hammer Price said: "I am looking forward to joining the team at Motorsport Network. I believe in their vision for Hammer Price and its pivotal role in the expansion of the company’s portfolio. Motorsport Network’s powerful ecosystem of upmarket luxury and collector car automotive businesses provides the optimal stage for growth."
Nik Komarov, VP of Business Development, Motorsport Network said: "We welcome Harley Cluxton IV to Motorsport Network, and believe the acquisition offers the most data-rich insights into classic car auction history. Motorsport Network intends to launch a new website and offer new features and solutions to the existing experience enabling dealers and car collectors with a greater understanding of the market value of classic cars."
For more information, please contact:
Ravi Pankhania, Motorsport Network - Ravi.Pankhania@motorsport.com
About Motorsport Network
Every month over 56 million dedicated users visit a Motorsport Network digital property, to buy, to learn, to be entertained, or simply to feed their passion for cars and racing.
We sit at the heart of the Racing and Automotive industries and provide authoritative thought leadership as well as unique experiences to our customers. We take them on a customer journey that encompasses news and insights, events, tickets, games and esports, so we leverage the network effect to add value to their experience. We use our inhouse technology and modern data tools to continuously test, learn, and improve. Our processes, content creation and products are constantly evolving to better serve our audience.
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