Premier event featured Broad Arrow Auction
which generated $71.5M during two-day
sale
TRAVERSE
CITY, Mich., Aug. 20,
2024 /PRNewswire/ -- Motorlux, a Hagerty event,
once again served as the iconic party that sets the stage for
Monterey Car Week at the Monterey Jet Center on Wednesday, August 14, 2024. The luxury event
represented the best-of-the-best including 225 enthusiast vehicles
and 14 aircraft, all surrounded by the finest culinary creations
and cocktails served by 25 local chefs.
The first day of the Broad Arrow Auction was held during
Motorlux. The innovative collector car auction was one-of-a-kind,
introducing a fashion show-inspired runway format complete with
dual viewing galleries allowing bidders and audience members to
immerse themselves in the automotive auction energy set against the
backdrop of a festive party.
Vehicles making their global or North American debuts included
the Kindred Motorworks EV Bronco, Meyers Manx Tarmac Touring
Edition, McMurtry Sparrow and
Evoluto 355. Displayed alongside the new were dozens of established
icons including a Lancia Stratos,
Lamborghini Essenza SCV12 and McLaren Speedtail.
More than 4,100 attendees experienced automotive installations,
each paired with specialty food and drink including:
- 'Adventure Machines' which hosted overland vehicles
- 'American Graffiti' that paid tribute to midcentury hot
rods
- 'British Invasion' that celebrated the 100-year anniversary of
Morris Garages Limited
- 'Honoring Marcello Gandini'
which highlighted the life of one of Italy's greatest car designers
Aircraft are a unique fixture at Motorlux which hosted over a
dozen, including vintage fighters, private jets and helicopters.
Among them was a P-51D Mustang known as "Plum Crazy" which boasts a
history of air racing and air shows as well as a Citation 560XLS in
a unique floral livery.
"Motorlux exemplifies the perfect blend of luxury and community
spirit," said Peter Fink,
Hagerty Vice President of Events and
Experiences. "We are honored to unite thousands of automotive and
aviation enthusiasts to enjoy the world's finest cars, aircraft,
local cuisine and refreshments. We are grateful to our partners,
sponsors, guests and would like to thank the generous drivers and
pilots who showcased their remarkable machinery."
Broad Arrow returned to the Jet Center for its third annual
Monterey Auction, August 14 and 15.
The two-day sale totaled $71.5
million* with 85 percent of all lots sold. The auction
culminated in the sale of the 1997 Porsche 911 GT1
Rennversion, a highly regarded and superbly preserved example,
at a final $7,045,000**. Additional
highlights include no less than five auction records, led by a rare
1998 RUF CTR 2 at $2,095,000,
representing a new record for any RUF at auction. The CTR 2 crowned
a trio of highly desirable RUF models at the sale, all of which
found new homes at strong prices.
"We would like to thank the guests who joined our third annual
Motorlux event and auction at the Monterey Jet Center. We had
record attendance and a record number of first-time registered
bidders," said Kenneth Ahn,
President of Hagerty Marketplace and Broad Arrow. "Despite a
greater bifurcation in the market across Monterey Car Week, Broad
Arrow saw engaged and active bidding on many lots, especially for
more modern, next-generation enthusiast cars. Broad Arrow's success
in this next-gen segment, including our market leadership of
marques like Porsche and RUF, is well-illustrated by our
Monterey auction results and
beyond."
Motorlux is proud to benefit the CHP 11-99 Foundation, a
501(c)(3) non-profit dedicated to helping families of California
Highway Patrol officers in times of need. The event also supports
the Navy Post Graduate School Foundation, from which young men and
women of the school's Car Club will assist at Motorlux and serve as
car pushers for the Broad Arrow Auction. Motorlux returns to
Monterey Jet Center on August 13, 2025. Please click here for
access to the press kit.
*These figures include post-block sales which occurred
immediately following the auction.
**All prices are listed in USD and include buyer's premium,
which 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 for all motor car lots. For
non-motor car Lots, Buyer's Premium is twenty-five percent (25%) of
the Hammer Price.
About Motorlux
Motorlux is a vibrant celebration
of cars, craft and community held during Car Week at the Monterey
Jet Center. Now under the stewardship of Hagerty, an automotive
enthusiast brand, Motorlux remains faithful to its entertaining and
elegant roots while elevated with artfully curated experiences
celebrating automotive, aviation, fashion and design. For more
visit the Motorlux website at Motorlux.com.
About Hagerty (NYSE: HGTY)
Hagerty is an
automotive enthusiast brand committed to saving driving and to
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
U.K. and is home to Hagerty Drivers Club, a community of over
850,000 who can't get enough of cars. For more information, please
visit www.hagerty.com or connect with us on Facebook, Instagram,
Twitter and LinkedIn.
About Broad Arrow
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.
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SOURCE Hagerty