Marqued expands into online marketplace to widen appeal of classic car ownership

Marqued aims to foster excitement and expand car culture Marqued expands into online marketplace to…

Marqued aims to foster excitement and expand car culture

Marqued expands into online marketplace to widen appeal of classic car ownership

Marqued online platform

Marqued online platform

Palo Alto, California, Jan. 19, 2022 (GLOBE NEWSWIRE) — For some people new to the classic and collectible car market, the search for the perfect vehicle can be daunting. Now, Marqued makes the search easier by providing more context, more background and more time for potential buyers to act. Marqued, which launched in June 2021 as an independent brand and venture of Porsche Digital, Inc., has added an online marketplace for classic and collectible cars of all brands as the next pillar of its platform.

Marqued’s mission is to create a brand that celebrates everything it can mean to be a car enthusiast. When the editorial platform launched, the initial goal was to share unique automotive content with enthusiasts. But soon, something else became apparent. “We saw good early traction, in the form of subscriber growth and at the same time saw a developing interest in owning the vehicles we were writing about.” says Stephan Baral, Managing Director at Porsche Digital, Inc. “While there are already some great auction sites out there in this space, we identified a need to complement them by building something aimed at those new to the world of classics.”

Marqued was created by a small, passionate team of young enthusiasts with experience in building and scaling digital products who really want to create their ideal site – one that would welcome a broader audience and perhaps appeal to those new to owning classics with the level of detailed information, guidance and reassurance they might need.

“The process of purchasing a classic car for the first time is perceived by many people to be cost prohibitive or overwhelmingly complex” says Baral. “I experienced first-hand how hard it is to overcome this barrier when I bought my first classic, a 1984 911 Carrera, a couple months ago. Since then, I’ve discovered a whole world of great encounters and experiences that I cannot imagine living without. We want to breakdown these barriers and demonstrate how attainable the goal of owning a classic car really is and by doing so, provide an entry point for many more people to experience the great joy and fulfillment that comes along with classic car ownership.”

The marketplace is geared towards people new to participating in online auctions. The listings are highly curated and experts carefully vet every vehicle submission. Each accepted listing includes extensive photos, detailed descriptions, and a vehicle history report. While most online auctions run for one week, Marqued’s auctions are two weeks long. Bidders have ample time to arrange inspections and ask questions. Sellers have more flexibility to promote their vehicles.

Since the first auctions launched in late 2021, the team has steadily added additional vehicles and will continuously scale the product as part of the launch.

“Marqued is a ‘brand agnostic’ platform for car enthusiasts”, says Max Esslinger, Product Manager of Marqued. “It’s about taking what we understand about the emotion and excitement around classic and collectable cars and sharing that with a wider community. By catering to the needs of new enthusiasts, and listening to them about what they need and want from the platform, we aim to democratize car enthusiasm and grow the space as a whole.”

About Porsche Digital, Inc.| 214 Homer Ave. Palo Alto, CA 94301 USA

Porsche Digital, Inc. (PDI) is the U.S. operation of Porsche Digital GmbH (PDG), which was founded in 2016 as a subsidiary of the Stuttgart-based sports car manufacturer. This North American competence center focuses on innovation, digital product development, and venture investments. Its Silicon Valley teams work on business model innovations by collaborating closely with the local startup and venture capital ecosystem. This work includes Marqued,, a digital platform for people who are passionate about cars. The Atlanta, GA, office, co-located with Porsche Cars North America, Inc. headquarters, works on the sports car owners site “My Porsche”, a central e-commerce platform as well as digital services for wholesale and retail. The global PDG headquarters are in Ludwigsburg, Germany. Further locations in Berlin, Tel Aviv and Shanghai complement the global platform and network of Porsche Digital.

Attachments

CONTACT: Marcus Kabel Porsche Cars North America, Inc. +1.770.290.3843 [email protected] Jade Logan Porsche Cars North America, Inc. 770-290-3880 [email protected]

https://finance.yahoo.com/news/marqued-expands-online-marketplace-widen-132600611.html