Bonhams is shutting down its MPH arm based at Bicester Heritage, with its director, Rob Hubbard, expected to join Silverstone Auctions in early 2022 to take up the role of sales director.
MPH was launched in June 2019 as a way into the enthusiast market, with Hubbard moving from New Bond Street to lead the project.
Despite the pandemic it has hosted 12 auctions since the first in September 2019, the initial plan being to run five sales per year for cars of between £1000 and £100,000.
MPH was launched as a Bonhams sub-brand to cater for modern-classic and lower-value enthusiast cars
The purchase by Bonhams of The Market in April 2021 signalled the parent company’s intention to improve its online presence, which has conspired against MPH.
The Market had been expected to launch in America in November, with Caroline Cassini as its GM, but Bonhams says sales will now begin in January.
‘The popular Beaulieu Sale will continue and will be brought back under the Bonhams brand next year,‘ a statement from Bonhams added.
Selling for £213,750, this Aston Martin DB6 was the top lot at the final Bonhams MPH auction
