Broad Arrow's Radius Auction Achieves $57.5M in Sales with an 84% Sell-Through Rate with Sales Led by Ferrari F50, 288 GTO, and 250 GT Lusso
Grosse Pointe, MI, (July 27, 2023) - Broad Arrow Auctions is pleased to announce results from the Radius Auction held at the Monterey Jet Center this past 17-18 August. The auction followed on the heels of the successful and sold out Hagerty Motorlux party held on Wednesday evening. The party saw more than 3,000 attendees celebrate the start of Monterey’s annual car week with exceptional dining and entertainment, alongside the auction preview of Broad Arrow’s 170 cars on display.
Total sales achieved $57.5M with a 84% sell-through rate over two days. Top sales from the auction included the exquisite 1995 Ferrari F50, which achieved a sales 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 elated cheers from the crowd.
Kenneth Ahn, President of Hagerty Marketplace states, “On behalf of our team at Hagerty and Broad Arrow, we want to thank all of our clients and friends for their support this past week. We were delighted to host so many car lovers and enthusiasts for our second-ever auction on the Monterey Peninsula with 143 cars sold for $57.5 million, in conjunction with Hagerty Motorlux.”
Friday’s auction was headlined by the pair of single-owner collections with the Hendricks Collection of the Gateway Museum up for auction first. Impressively, the collection achieved a 100% sell-through rate with $7.9M in total sales led by the spectacular 1954 Oldsmobile F-88, which sold for $1,765,000 while the one-of-two Hibbard & Darrin 1930 Duesenberg Model J Transformable Cabriolet sold for $1,435,000.
The sale concluded on Friday with the Academy of Art University collection, which saw strong bidding and interest on all lots, selling all but one car from the collection, which was sold after the auction. Results included a final price of $1,105,000 for the exquisite 1937 Delage D8-120 Coach JeLM by Letourner et Marchand while the 1937 Bugatti Type 57C Atalante sold for $1,325,000.
Top Ten Auction Results From the Two-Day Auction (All prices inclusive of Buyer’s Premium)
- - 1995 Ferrari F50 - $4,240,000
- - 1985 Ferrari 288 GTO - $3,910,000
- - 1964 Ferrari 250 GT Berlinetta Lusso - $2,810,000
- - 2015 Porsche 918 Spyder - $1,985,000
- - 1956 Mercedes-Benz 300SL Gullwing - $1,930,000
- - 1954 Oldsmobile F-88 - $1,765,000
- - 1935 Mercedes-Benz 500K Cabriolet A - $1,710,000
- - 1930 Duesenberg Model J Hibbard & Darrin Transformable Cabriolet - $1,435,000
- - 1930 Duesenberg Model J Murphy Convertible Sedan - $1,380,000
- - 1937 Bugatti Type 57C Atalante - $1,325,000
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.broadarrowgroup.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.
Photo captions and credits:
- (Credit - D. Paul Graham / imageGRAHAM, LLC / Courtesy of Broad Arrow Group.)
- (Credit - Ted7 / Courtesy of Broad Arrow Group).
- - 5. (Credit - D. Paul Graham / imageGRAHAM, LLC / Courtesy of Broad Arrow Group).