That social media platforms can play a big role in making or breaking businesses isn’t news. But someone making an in-app payment of £825,000 (Dh3.72 million) to buy a classic car, that’s definitely news. Especially so for us, as there’s a Middle East angle to it. The car in question is a 1964 Aston Martin DB5, and it has been sold by auction house Coys on social media platform Vero, co-founded by Ayman Hariri, the billionaire son of former Lebanese Prime Minister Rafik Hariri.
Said to be the largest known in-app purchase ever, it also marks the first time a historic car has been sold directly on social media. Earlier this month, at the Paris motor show, Coys had announced that customers would be able to purchase a selection of historic cars via Vero, including the iconic DB5 which was on display at the expo. The buyer, whose identity has been withheld, saw the car at the Paris show and promptly went to Coys’ profile on the app, and used Apple Pay to purchase it. “The proud new owner saw the DB5 at the Paris Motor Show, he was overjoyed to see the car of his dreams and didn’t want to lose it… he was keen to quickly get in front of the queue, so a few days later he hit the ‘Buy Now’ button on Vero to guarantee the purchase, leaving two other collectors disappointed in his wake,” says Chris Routledge, CEO of Coys.
This particular Aston DB5 is right hand drive silver birch model with red leather trim, and has undergone a full restoration, including engine rebuild, suspension and a gearbox overhaul, before which it was left in storage for two decades. “Classic cars set the pulse racing like few other things. We’re delighted that Coys have chosen Vero as the platform to express their love of classic cars,” says Ayman Hariri, co-founder and CEO of Vero.
If you’re in the mood to spend a few millions this weekend, there are still quite a few gems available on Coys’ Vero profile, including a £400,000 (Dh1.8 million) Ferrari Dino 246, a £800,000 (Dh3.6 million) Ferrari Daytona and a £295,000 (Dh1.3 million) Bentley Continental S2 among others.