Apple Pay Used for $1 Million Purchase of Vintage Aston Martin Car

October 25, 2016, Written By Lynn Oldshue

Apple Pay has officially processed its biggest purchase to date—a $1 million 1964 Aston Martin DB5. The buyer wishes to remain anonymous, but the vintage vehicle was purchased directly from the auction house’s profile on Vero, a social networking app popular in the UK.

The transaction was conducted by Coys of Kensington, a classic car auction house in London. It is believed to be the first classic car sale completed through social media. The buyer saw the vehicle at the Coys Paris Motor Show and bought it online afterward.

The CEO of Coys, Chris Routledge, said the buyer “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.”

Apple Pay has been out for two years, but did not make its UK premiere until July, 2015. Earlier this year, reports emerged of the UK version potentially storing drivers licenses in addition to payment cards, but that feature has not rolled out. The app is primarily used for smaller purchases, such as groceries and fuel, but this vehicle purchase could mark the beginning of a whole new trend in mobile payments.

The information contained within this article was accurate as of October 25, 2016. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.

About Lynn Oldshue

Lynn Oldshue has written personal finance stories for for twelve years. She majored in public relations at Mississippi State University.
View all posts by Lynn Oldshue