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Broad Arrow Group, a Hagerty (NYSE: HGTY) company, is thrilled to announce a selection of early consignments to its upcoming Amelia Auction on March 3-4, the inaugural year for the company serving as the official auction house of The Amelia.
Broad Arrow Auctions Senior Car Specialist Barney Ruprecht comments, “We are honored to be the official auction house of The Amelia and are thrilled with the outstanding response from clients looking to participate, whether in the auction or Concours events throughout the motoring weekend. It is truly one of the most special automotive experiences on the annual collector car calendar and the team at Broad Arrow is actively working on what will undoubtedly be a flagship event. It goes without saying, we are truly delighted to be executing a world-class event in March of 2023.”
In this, its first full year of operation, Broad Arrow has demonstrated the breadth of live auction experiences offered to its bidders and sellers, from a high-end, highly curated catalog sale with the Monterey Jet Center Auction in August ($55.3 million total), to a single-owner private collection sale with The Cars of Jim Taylor in October ($21.3 million total), and a sale for all tastes and budgets with the West Palm Beach Auction in November ($10.2 million total). The industry-veteran team realized 17 world record auction prices across the season, with an overall sell-through rate of 84 percent.
The Amelia Auction is set to build on this momentum, with a curated catalog sale featuring more than 100 exceptional motor cars. Automotive highlights slated for the 2023 Amelia Auction to date include a 1961 Mercedes-Benz 300 SL Disc Brake Roadster (Estimate: $1,350,000-$1,550,000), a car whose ownership has defined its useability, its gentleman owner having driven the car extensively on tours and events throughout the country. Aside from its exquisite color combination, it is an original disc brake car, optioned with a Becker Mexico AM/FM Radio and Hirschmann antenna, and additionally features a full set of fitted luggage and a painted black hardtop.
The first of two noteworthy Ferraris consigned to the auction is a 1969 Ferrari 365 GTB/4 Daytona Competizione Conversion (Estimate: $600,000-$650,000), which benefits from a comprehensive engine and differential rebuild conducted in 2016 and was expertly converted to Competizione specification by Roelofs Engineering, Rheden, Netherlands in 1985. Notably, it is race-prepared and materially unchanged since its latest FIA certification in 2014, complete with rear spoiler and a spare set of Campagnolo wheels. The Daytona Conversion was built to resemble one of the 15 factory-built Daytona Competizione examples and is a faithful tribute to one of the greatest GT cars in Ferrari history that is offered expertly sorted and highly usable. It is equally notable in that it has competed in the Monterey Motorsports Reunion, Classic 12 Hour at Sebring, and Classic 24 Hour at Daytona.
The second Ferrari, a 1982 Ferrari 512 BBi (Estimate: $300,000-$350,000), is an exceptionally original Berlinetta Boxer showing only 11,664 kilometers, or approximately 7,428 miles from new. Wearing its original Rosso Corsa finish over Nero Stoffa leather upholstery, it is believed to be one of 27 ‘Ermenegildo Zegna’ BBis, wearing designer wool inserts in the seats, door panels, and headliner. The Ferrari is accompanied by its original exhaust, books, toolkit, spare wheel, Ferrari service light, and a comprehensive history file.
Further early highlights include:
1967 Aston Martin DB6 Mk I – Restored in 2006 and finished in Silver Birch with a black interior, the Aston benefits from some key mechanical upgrades, engine upgrades to Vantage specification and a Tremec five-speed gearbox, along with a host of Steel Wings handling upgrades and subtle cosmetic improvements (Estimate: $325,000 – $350,000).
1967 Iso Grifo GL Series 1 – Finished in Rosso Cordoba Metallizzato over a tan leather interior and subsequently judged a Best in Class Winner at the 2017 Amelia Island Concours d’Elegance. Complete with optional ZF five-speed manual transmission, designed by Giorgetto Giugiaro based on the racing car of Giotto Bizzarrini, this is an excellent long-distance grand-tourer with a comfortable interior and dependable American V8 powertrain (Estimate: $350,000 – $400,000).
Broad Arrow’s debut as the official auction of The Amelia will kickstart the company’s 2023 calendar on March 3-4 at The Ritz-Carlton, Amelia Island. The Amelia Auction will feature exceptional collector cars ranging from pre-War American and European classics to modern supercars. Collectors interested in consigning their car(s) to this world-class event are invited to contact a Broad Arrow specialist via broadarrowauctions.com.
Broad Arrow’s auction is held alongside The Amelia, set for March 2-5, 2023 at The Ritz-Carlton, Amelia Island and The Golf Club of Amelia Island. NASCAR Hall of Famer and Vice Chairman of Hendrick Motorsports, Jeff Gordon, will serve as Honoree. Featured classes for the 28th annual event include Le Mans Winners, the 120th Anniversary of Buick, Porsche Fiberglass Racing Spyders, and more. For additional information and to order tickets visit AmeliaConcours.com.
In August 2022, Hagerty (NYSE: HGTY), an automotive lifestyle brand and a leading specialty insurance provider focused on the global automotive enthusiast market, entered into a definitive agreement to acquire Broad Arrow Group. Broad Arrow Group clients now benefit from access to Hagerty’s impressive reach and range of services offered to collector car enthusiasts. In October 2022, Hagerty launched its Marketplace online auctions, which allows members and enthusiasts to buy and sell automobiles through a trusted, easy-to-use online auction platform, with consignments powered by the Broad Arrow Group team. Together, Hagerty and Broad Arrow now offer a full suite of buying and selling options to the collector car community based on their individual needs, from both live and online auctions to private sales, classifieds, and financing solutions.
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 Collectors Garage and is headquartered in Grosse Pointe, Michigan. Learn more at broadarrowgroup.com.
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 24, 2022. 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.