The Finest Automobile Auctions Company is undergoing a management reorganization and says its inaugural online sale will take place in late September.
Faced with ongoing and major health issues, Bradley Farrell, Finest founder and chief executive, will take a leave of absence. Meanwhile, the company’s board of directors is pursuing a new executive to run the auction house, which recently was sued by vendors who say they were not paid for their work at the company’s live auctions.
“We put on three incredible auctions in Hershey, Aspen and Boca while we developed my original vision of online auctions,” Farrell told ClassicCar.com Daily News in an email. “Now, as I recover from some recent surgeries, I leave the Finest in very capable hands as new management drives the company in the right direction.”
Farrell, who is in his early 40s yet is a long-time car collector (especially of pre-war French cars) and business entrepreneur, was part of the staff that staged the Keno Brothers’ Rolling Sculpture sale in 2015.
He established his own auction company to address issues that sometimes left him uncomfortable with traditional collector car auctions, including the pressure put on consignors to lift their reserves during the sale. At Finest auctions, cars unsold on the block go through a multi-day sales process Farrell designed to take pressure not only off the seller, but also off potential buyers.
Farrell also wanted to stage online auctions that further relieved the pressure on buyers by allowing them to participate actively if virtually in an auction from the comfort of their homes or offices.
The company has established a 48,000-square-foot headquarters/showroom facility in Danbury, Connecticut, that will serve as the hub for such sales, including the one planned for late September.
Vehicles consigned for that sale will be displayed on the company’s website.