Press & News

Via Col Tempo & Sottile announces Joint venture Astex Italy Auction House

Messina, Italy
July 1, 2021

LuxuryTime Srl of the De Domenico family and Sottile MobilityStore of the Sottile group today announced the birth of the joint venture called Astex Italy, which will organize and manage the auctions of collection cars and prestigious watches. 

Founders Fabio and Francesco have stated that the company's mandate will include start-up, consolidation, and expansion in auction sales to become the dominant player in a rapidly expanding and currently unmanned market in the Sicilian territory is to be enhanced. 

The two historic founding companies will each have a substantial interest in the new company. Fabio De Domenico, Responsible for Via Col Tempo Jewelry/watch store, was chosen as president of the new joint venture. Francesco Sottile, will have Operational responsibility. 

The partner of the Sottile group provides strategic capabilities in the Automotive market, in fact, Sottile Mobility Store is the most important dealer in Sicily for the long-term rental of sports cars and their contacts will bring buyers and sellers to the table.

Among the partners and supporters, there is also SAMO. Club, which is a reference association in the sector of historic and collectible cars, federated ASI - Automotoclub Storico Italiano - and boasts ten years of activity enhancing the Sicilian automotive technological heritage. Together, the segments represent important opportunities for the new company. 

De Domenico and Sottile agree that the move is strategic as well as one of passion and spirit of service. Fabio De Domenico said, "Mid-range and high-end auction sales are fast becoming the most effective way to sell a car and a watch because competition between bidders often generates higher selling prices." Francesco Sottile, said “Today's busy and successful buyer is fascinated by the world of motors and hands. The catalog of an auction provides them with more information on cars and watches in a simple and safe way, so as to guarantee them a transaction in absolute safety. Furthermore, the auction is the only instrument that establishes the true market price in a transparent way. that an object has at a given time and place ". 

Astex Italy takes advantage of the consolidated experience of Luxury Time Srl, a company operating in the luxury segment of watches and jewelry with a thirty-year presence and know-how that has allowed it to satisfy over 1 million customers all over the world, thanks also to partner with the most exclusive and prestigious brands.

The operational core business will be the organization of events in the most exclusive and beautiful locations in Sicily to host auctions with their sellers and buyers, but above all their beautiful cars and magnificent timepieces, which will be the absolute protagonists of the sessions. Participation will always be reserved for accreditation. 

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