Retro Motors Collection of 25 Modern Sports Cars Anchors Broad Arrow’s Inaugural Auction in Partnership with the Chattanooga Motorcar Festival
July 29 2024 - 12:30PM
GROSSE POINTE, Michigan, July 29, 2024 – Broad Arrow Auctions,
a Hagerty (NYSE: HGTY) company, is thrilled to announce the
consignment of the Retro Motors Collection of 25 collector cars,
many offered without reserve, to the upcoming Broad
Arrow Auction at the Chattanooga Motorcar Festival. The outstanding
collection of most late model US and European sports cars will lead
the way as the anchor for Broad Arrow’s final U.S.-based auction
for the 2024 calendar year. The partnership unites the fast-growing
Motoring Festival, now in its fifth year, alongside a Broad Arrow
boutique auction set to feature a wide array of collector cars on
October 12, 2024.
Barney Ruprecht, Senior Car Specialist and Head of
Auctions for Broad Arrow states, “The consignment of the 25 sports
cars from the Retro Motors Collection, many of which are being
offered without reserve, is an outstanding way to launch our
inaugural auction at the 2024 Chattanooga Motorcar Festival. We are
confident these mostly low-mileage examples will appeal to the
auction audience there and be a highlight attraction of the
audience onsite this October at the auction. We look forward to
announcing further highlights in the coming weeks.”
Highlights from the Retro Motors Collection include some of the
following:
- 2006 Ford GT Heritage Edition, estimate: $550,000 -
$650,000
- 2020 Ferrari Pista, estimate: $500,000 - $550,000
- 2019 Porsche 911 Speedster Heritage Edition, estimate: $325,000
- $375,000
- 2021 Mercedes-Benz AMG GT Black Series, estimate: $320,000 -
$350,000
- 2023 Aston Martin V12 Vantage Coupe, estimate: $280,000 –
$320,000
- 2021 Nissan GT-R, estimate: $180,000 - $220,000
Next on the Broad Arrow Auctions calendar is the Monterey
Jet Center Auction being held this August 14-15 alongside Motorlux
at the Monterey Jet Center. The company is also pleased to announce
a date change for this year’s Monterey auction as, for the first
time, the Hagerty Motorlux event will serve as the backdrop for a
selected offering of approximately 50 cars to be auctioned on
Wednesday evening, the 14th, with the auction beginning at 5:30 pm.
The auction will continue Thursday, the 15th with the sale
beginning at 3:00 pm. Please visit the Broad
Arrow website for additional information on the upcoming
auction. To purchase Motorlux tickets directly, please visit the
Motorlux website directly.
About Broad Arrow, a Hagerty Company - Broad Arrow, 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 operates Broad Arrow Auctions, Broad
Arrow Capital, and Broad Arrow Private Sales (formerly Collectors
Garage) and is headquartered in Grosse Pointe, Michigan. For
more information, please visit connect with us on Facebook,
Instagram, Twitter and LinkedIn.
About Hagerty, Inc. (NYSE: HGTY) - Hagerty is an
automotive enthusiast brand committed to saving driving and fueling
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 of more than 800,000 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 or connect with us
on Facebook, Instagram, Twitter, LinkedIn,
and YouTube.
About Chattanooga Motorcar Festival - Proceeds from
the Chattanooga Motorcar Festival support neuroscience research
through Fifty Plus Foundation, Inc. Approaching 13 years of
supporting Alzheimer’s and neuroscience research, Fifty Plus
Foundation created the Chattanooga Motorcar Festival to bring both
local and global support to back research that is already making a
difference in saving lives. Learn more at
chattanoogamotorcar.com.
Press materials can be found at newsroom.hagerty.com.
Forward-Looking Statements - This press release
contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. These statements
reflect our current intentions, expectations, or beliefs regarding
the business. Because forward-looking statements relate to the
future, they are subject to inherent risks and uncertainties that
are difficult to predict and may be outside of our control. Some of
the factors that may cause our actual results to differ materially
from those contemplated by our forward-looking statements include:
(i) our ability to recognize the anticipated benefits of the
subject of this press release; (ii) our ability to compete
effectively within our industry and attract and retain members; and
(iii) the other risks and uncertainties listed in our Form 10-K
filed with the U.S. Securities and Exchange Commission (“SEC”) on
March 14, 2023. This press release should be read in conjunction
with the information included in our other press releases, reports
and other filings with the SEC. Understanding the information
contained in those filings is important in order to fully
understand our reported financial results and our business outlook
for future periods. We do not undertake any obligation to publicly
update or review any forward-looking statement, whether as a result
of new information, future developments, or otherwise, except as
required by law.
- Overhead Shot of the Retro Motors Collection
- Black Series Mercedes-Benz
Ian Kelleher
Broad Arrow Auctions
917-971-4008
ian.kelleher@broadarrowgroup.com