Grosse Point, Michigan, July 29, 2024 (GLOBE NEWSWIRE) -- 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.
Attachments
Ian Kelleher Broad Arrow Auctions 917-971-4008 ian.kelleher@broadarrowgroup.com
