F1 Miami welcomes Bonhams auction house

 F1 Crypto.com Miami Grand Prix is attempting to solidify its position as a stronghold of South Florida luxury through a new agreement with Bonhams auction house's automotive section.

The agreement, announced this afternoon, centres on Bonham staging a live auction over the May race weekend at the Miami International Autodrome circuit around Hard Rock Stadium in Miami Gardens. The third edition of the event is scheduled for May 3-5, and the auction will take place on Saturday of that weekend, with approximately 25 collector vehicles being driven on the track before the sale in front of the podium area.

While the auction will be invitation-only for visitors and Bonham customers, the cars will be displayed throughout the venue during the race weekend for all fans to view. They plan to add supercars and used F1 race vehicles.

F1 Miami president Tyler Epp told SBJ that the agreement "isn't just a new thing -- it's a new thing with a purpose," noting that luxury automobile collectors and aficionados make up an increasing proportion of ticket purchases. "This is a bit of an ode to that group, and I think [Bonhams] will bring additional experiences specifically for that segment of the population."

F1’s Paddock Club also worked with Bonhams for an auction at the Abu Dhabi Grand Prix last year, with over 30 collector cars including Mario Andretti’s Lotus 79 from 1978, Kimi Raikkonen’s McLaren MP4 from 2006 and a Ferrari F2001 show car during the time Michael Schumacher was driving for the team.

Former F1 Miami CEO Richard Cregan helped introduce the sides. Dolphins owner Stephen Ross set up a new entity, South Florida Motorsports, which technically runs and operates the event. Miami is the first of what has now turned into three annual F1 races in the U.S. alongside COTA and Las Vegas.

Epp stated that the event is "in really good shape" as it prepares for its third year, focusing its operational and business efforts on the race. He also mentioned that ticket sales are "in really good shape" and that they anticipate a sellout.

"The Bonhams deal is really representative of the commitment that [Ross and Dolphins Vice Chair and CEO Tom Garfinkel] have made to this autodrome between different car segments, luxury, off-track experiences," he said. "It's a proud moment for us."