The High-end car auction business is booming, but it can prove a minefield if you haven’t got the proper guidance. To prevent any obstacles and horror stories when looking for your Marque and model of choice, deal with experts like Tim and Joe at PaddlUp.
People have been investing in cars for years; the classic market has been around nearly as many years as the cars themselves. Car enthusiasts in the know bought makes and models they believed would become highly sought after and bring a good return on their investment. In the 1970s, when the “Supercar” era took off, people again looked to buy these up not to drive but to collect and keep for future profit.
In 2021, nothing has changed except the ways people can purchase a supercar, be this for using, showing or as an investment. PaddlUp, a new online auction company, uses the latest technology and methods to guide and protect purchasers through what can be a stressful and challenging experience when it should be a pleasure. The aim is to remove all the negatives from car buying, so purchasers get a reliable, provenanced vehicle.
PaddlUp’s Founders use their years of experience in the Motor Industry and Wealth Management to provide exceptional service for those that want to sell their supercar too. The same skills the staff have, guide the seller through the process, enabling them the best experience possible. The team believe in putting people first, and I will explain more about this in the article.
Tim and Joe’s unique concept is auctioning supercars and Exotics, valued at over £100,000 from their state of the art showroom near Chippenham. The facility allows potential buyers to see the car they are interested in, touch it, inspect it, sit in it. The only thing they can not do is drive it. They can take their time looking at the vehicle, even getting to see underneath if they wish, as PaddlUp has a scissor lift to raise the car.
Appointments to view a car have to be arranged so people can’t just drop in. The potential buyer then registers their interest and awaits the date of the online auction for the car.
At this stage, you might be asking why the name PaddlUp? Well, many names were thought of and worked through but didn’t sound correct for the business. Then Tim came up with PaddlUp, which has a two-pronged meaning; the first refers to traditional auctions where bidders raise a Paddle up in the air to show the Auctioneer their bidding number. The second reference is to the modern sportscars, which have paddles to change up through the gears.
The PaddlUp rooms, as the facilities are known, will open in August, with the first online auction taking place at the end of August.
How PaddlUp Works
There are three phases in the PaddlUp system involving a metric of 21 cars, with each phase lasting seven days.
Phase One is the receiving of the car from the seller. The supercar can be collected by dedicated staff, taken to the PaddlUp rooms where it is inspected. Any remedial work that requires attention is agreed upon with the seller and carried out by expert mechanics. The vehicle has to be in showroom condition with no faults at all. At this stage, the car is photographed either outside the PaddlUp rooms or in their Photographic studio.
By taking each consigned car to the PaddlUp Rooms, it means that sellers do not have to answer questions to potential buyers, nor do they have people visit their premises to view the car. It also means that buyers are purchasing a vehicle in the safe knowledge that they will receive it in the same condition as when the hammer goes down. Twenty-one cars at phase one will be stored at the facility on purpose-built racking.
Phase Two is where the car is immaculate and ready for auction; here, it enters the open plan showroom awaiting potential buyers. They would have seen the vehicle online and booked an appointment to view it. At this phase, twenty-one cars will be in the expansive showroom.
Phase Three sees the sold cars taken to the racks in the secure warehouse awaiting delivery to their new owner. Again PaddlUp can organise this for the buyer, so the process is seamless. Only three cars a day will be auctioned over seven days, so twenty-one sold cars will be in the warehouse, and they go to their owner within seven days from purchase.
The people behind PaddlUp
Tim Mayneord, Co-Founder of PaddlUp, comes from many years in buying and selling cars. He started work aged sixteen in a Parts department then moved to his Father’s dealership learning the business. He went on to grow a successful Peugeot dealership before selling the entire concern.
Tim said, “We want to bring a truly premium and trusted experience to the new age of digital auctions. Our approach will take the latest innovations combined with a complete focus on customer care. Our team of dedicated experts are there to deliver the seamless sale of your supercar.”
Joe Priday is involved in Wealth Management and came up with the idea for the PaddlUp concept. He has known Tim for many years and knew he wanted him to partner him in this project. Joe is a car lover and is fortunate to own and driven many unique models.
To enhance the experience of buyers and sellers, they will have the opportunity to join an exclusive members club that will bring many benefits. Members can attend Track Days, Road Trips, participate in exclusive events and much more. A Members Lounge above the showroom at the PaddlUp Rooms will be available when they wish to use it. This will be a haven, fully equipped. Fully equipped with wi-fi, desks etc., it can be used as a hot-desk if members want to work while there, or if they’re going to relax, they will find plenty to do.
Four race simulators will be in place to test your skills on the tracks worldwide; large sofas will enable you to relax while taking a drink from the barista coffee machine. PaddlUp will also hold members events at the facility, where they have a stunning silver Airstream for food provision.
The whole experience of PaddlUp is one of professional customer service where visitors to the PaddlUp Rooms are called Guests. They receive attention similar to visiting a Hotel, and the rooms benefit from a concierge service to look after guests. As I mentioned, the company is people and customer service driven. This attention to detail should elevate them above any other auction operation.
PaddlUp – Where and How?
PaddlUp charge a 5% buyers fee on all purchases. They do not charge the seller any fees.
Buyers can organise self-collection from the PaddlUp facility or have their car delivered to a UK location using the company’s professional fleet of covered trailers.
Paddlup is FCA regulated and can offer a full range of funding options for buyers and sellers, including CRYPTO currencies.
The PaddlUp Rooms,
For more information, telephone 01666 727000 or visit www.paddlup.com.
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