Broad Arrow Helps Clients Buy, Sell, and Finance Collector Cars with More than $180 Million in Transactions across Auctions, Private Sales, and Financing in its Second Year of Operation

 

• 334 lots sold for total sales of $108.5 million across three auctions 
• 46 private sale transactions totaling more than $34 million
• Approximately $38 million in new financing transactions with year-end loan book in excess of $50 million for 2023
• 2023 auction results and information on upcoming events available at broadarrowauctions.com.

 

Grosse Pointe, MI, (December 20, 2023) - In its second year of operation, Broad Arrow Auctions, a Hagerty (NYSE: HGTY) company, achieved $108.5 million in total sales across three live auction events. Broad Arrow’s auction schedule included a highly curated catalog sale as the official auction house of The Amelia ($31 million total) as well as a spectacular single-marque Porsche auction ($20 million total) in celebration of Porsche’s 75th Anniversary and a flagship Motorlux Auction in Monterey in ($57.5 million total). The team, led by industry veterans, achieved 16 world record auction prices over the course of the year, with an overall sell-through rate of 86 percent, selling 334 lots (285 cars, 49 memorabilia) in total. View year in review video  here.

 

“2023 has been an outstanding year for Broad Arrow in its second year of operations with significant growth across three businesses – auctions, private sales, and financing. In addition to achieving exceptional live auction results, our private sales team has conducted an impressive number of transactions, successfully and discreetly, while our global Broad Arrow Capital team has built an impressive lending business with a loan book of over $50 million,” said Kenneth Ahn, President of Hagerty Marketplace, and Co-Founder of Broad Arrow. 

 

 

Broad Arrow’s top auction sales of 2023 were led by a trio of Ferraris sold during the Monterey Jet Center Auction, representing high points in the marque’s illustrious history. Total sales in Monterey reached $57.5M with an 84% sell-through rate over two days, the second-highest sell-through rate of all auction houses on the Monterey Peninsula in 2023. Top sales from the auction included the exquisite 1995 Ferrari F50, which achieved a sale price of $4,240,000, followed by the 1985 Ferrari 288 GTO with a sale price of $3,910,000. The stunning 1964 Ferrari 250 GT Berlinetta Lusso realized a final price of $2,810,000 to cheers from the audience.

 

 

 

BROAD ARROW TOP TEN AUCTION SALES 2023

1. - 1995 FERRARI F50 — $4,240,000
2. - 1985 FERRARI 288 GTO — $3,910,000
3. - 1964 FERRARI 250 GT LUSSO BERLINETTA — $2,810,000
4. - 1964 PORSCHE 904 CARRERA GTS — $2,535,000
5. - 2015 MCLAREN P1 — $2,425,000
6. - 2015 PORSCHE 918 SPYDER — $1,985,000
7. - 1956 MERCEDES-BENZ 300 SL “GULLWING” COUPE — $1,930,000
8. - 1954 OLDSMOBILE F-88 CONCEPT CAR — $1,765,000
9. - 1937 MERCEDES-BENZ 500K CABRIOLET A — $1,710,000
10. - 1987 PORSCHE 959 KOMFORT — $1,710,000

 

Broad Arrow will kickstart its 2024 calendar with The Amelia Auction on March 1st and 2nd as the official auction of The Amelia at The Ritz-Carlton, Amelia Island. The two-day auction will feature exceptional collector cars ranging from pre-war classics to modern supercars. Collectors interested in consigning their cars to this world-class event are invited to contact a Broad Arrow specialist at broadarrowauctions.com.

 

NOTE: All prices are listed in USD and include the applicable buyer’s premium. Broad Arrow’s buyer’s premium for all motor car lots is equal to the sum of twelve percent (12%) of the first $250,000 of the Hammer Price and ten percent (10%) of the amount by which the Hammer Price exceeds $250,000. Buyer’s premium for all non-motor car lots is twenty percent (20%) of the Hammer Price.

 

About Broad Arrow Group, a Hagerty Company - Broad Arrow Group, a Hagerty (NYSE: HGTY) company, is an advisor, market maker, and financier for car collectors with a commitment to integrity, trust, and innovation. Broad Arrow Group operates Broad Arrow Auctions, Broad Arrow Capital, and CollectorsGarage and is headquartered in Grosse Pointe, Michigan. Learn more at www.broadarrowauctions.com.

 

About Hagerty, Inc. (NYSE: HGTY) - Hagerty is an automotive lifestyle brand committed to saving driving and car culture for future generations. The company is a leading provider of specialty vehicle insurance, expert car valuation data and insights, live and digital car auction services, immersive events and automotive entertainment custom made for the 67 million Americans who self describe as car enthusiasts. Hagerty also operates in Canada and the UK and is home to Hagerty Drivers Club, a community of750,000 who can’t get enough of cars. As a purpose-driven organization, Hagerty Impact aims to be a catalyst for positive change across the issues that matter most to our teams, our members, the broader automotive community, our shareholders and the planet at large. For more information, please visit www.hagerty.com.

 

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Photo captions and credits:

1. (Courtesy of Broad Arrow Auctions.)
2. (Credit - Ted7 / Courtesy of Broad Arrow Auctions.)
3. (Credit - Robin Adams / Courtesy of Broad Arrow Auctions.)
4. (Credit - Robin Adams / Courtesy of Broad Arrow Auctions.)