Coys, a name synonymous with the classic car scene for many decades, has been purchased by the family office of the Calleri family, run by Richard Calleri and advised by his father Antonio Calleri.
The business, one of the best-known dealers and international classic car auction houses in the world, has been restructured and fully recapitalised, to provide a more streamlined and customer-orientated service to global classic car enthusiasts with financial full backing. It is the first time that the company has had a complete overhaul and change in ownership in over 20 years.
Richard Calleri commented: “We are delighted to be relaunching this world-recognised 101-year-old classic car business.” He added: “Coys will bring new sources of value to buyers and sellers of classic cars and propel the auction house into the next stage of its development.”
“The way we conduct our business is vital: we are impartial sales agents with simple and transparent processes linked to ring-fenced client bank accounts. We are also setting up a formal executive board and an additional advisory board of directors drawn from across the world of classic cars. They will provide additional guidance on the development of the business, share their market knowledge, assist with strategic alliances and new product launches as well as provide day-to-day senior counsel to the management team .”
Coys famous showroom in Richmond is currently being completely refurbished and will reopen early in Spring to visitors.
The newly relaunched Coys will initially concentrate on private sales, brokerage services and valuations in addition to auctions and events.