Broad Arrow Auctions, a Hagerty (NYSE: HGTY) company, is pleased to
announce the results for the exclusive Porsche-only auction in
partnership with the first-ever Air|Water standalone event held
this past Saturday, April 27th at the Orange County
Fairgrounds in California. The auction consisted of 56
cars and 41 lots of memorabilia and saw strong attendance from both
registered bidders and their guests alongside show spectators,
resulting in a standing-room-only atmosphere for the entire event.
Total sales surpassed $15.6 with a sell-through rate of 80% for the
event.
The top sale from the auction was the 2015 Porsche 918 Spyder
Weissach, which sold for $2,865,000, with second
spot honors going to the 1988 Porsche 959
Komfort, which sold for $1,930,000. The 2005
Porsche Carrera GT rounded out the top three with a sale
price of $1,792,500. A notable aftersale included the 1997
RUF BTR Twin which sold for $1,150,000 post
auction.
Alexander Weaver, Senior Car Specialist and Head of
Private Sales for Broad Arrow states, “The Broad Arrow team was
delighted with the sale results from this past weekend. It was
terrific to see so many clients and familiar faces in the bustling
crowd on Saturday. Working with Patrick Long and the entire
Luftgekühlt/Air|Water team was outstanding, and being able to host
more than 11,000 attendees, many of whom attended their first-ever
auction event, was an exciting and unique element for the weekend.
We look forward to continuing to find new avenues to present the
Broad Arrow brand alongside Patrick and
Luftgekühlt/Air|Water.”
Patrick Long, Founder of Luftgekühlt and Air|Water
states, “From an all-around perspective, having the Broad Arrow
auction that thousands of our attendees could attend, witness and
even participate in as an experiential element to the day’s events
was tremendous. Over 11,000 people attended the first-year show,
and we quickly sold out of car space, with more than 1,000 included
in the show. We were delighted with not only how well
the event went but also with how well the auction fit in within the
day’s festivities.”
Further additional highlights from the auction included a pair
of historic race cars, the 1986 Porsche 962 IMSA GTP Dyson
Racing car, which achieved a final price of $775,000, and
the 2007 Porsche 911 GT3 RSR Flying Lizard which
sold for $747,500.
Top Ten Auction Results (All prices inclusive of
Buyer’s Premium)
- 2015 Porsche 918 Spyder Weissach - $2,865,000
- 1988 Porsche 959 Komfort - $1,930,000
- 2005 Porsche Carrera GT - $1,792,500
- 1997 RUF BTR Twin - $1,150,000
- 1986 Porsche 962 IMSA GTP Dyson Racing - $775,000
- 2007 Porsche 911 GT3 RSR Flying Lizard - $747,500
- 2023 Porsche 911 Sport Classic - $478,000
- 1994 Porsche 911 Turbo 3.6 - $423,000
- 2023 Porsche GT3 RS Weissach $423,000
- 1957 Porsche 356 A 1600 Super Speedster - $362,500
Air|Water is the brainchild of Luftgekühlt founder Patrick Long,
who is well-known and respected in the Porsche world and has
organized world-class gatherings for the Porsche community to
celebrate not only Porsches but the camaraderie of the Porsche
enthusiast community.
In January 2024, Hagerty and The Porsche Club of America, Inc.
(PCA) announced Hagerty and Broad Arrow as the official insurance
and auction partner, respectively, for key PCA national events. PCA
is the largest single marque car club in the world with over
160,000 members. This auction, in partnership with
Air|Water and collaboration with PCA, reflects Hagerty and
Broad Arrow’s continued commitment to the Porsche community to help
Porsche enthusiasts to protect, buy/sell, and enjoy their Porsches.
More information about the Hagerty and Porsche Club of America
partnership can be found here, and more information about PCA
can be found here.
Broad Arrow’s next auction will take place alongside the Hagerty
Motorlux event in Monterey, CA on 15-16 of August and will feature
approximately 150 cars over the course of the two-day auction.
Early highlights include a 1955 Mercedes-Benz 300 SL
Gullwing and a 1998 RUF CTR II. More
information on the auction can be found
at www.broadarrowauctions.com or via the
link in our bio.
Photo Credits: All event photography courtesy of Broad
Arrow/Robin Adams
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.
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.
- Photo Courtesy of Broad Arrow/Robin Adams
- Photo Courtesy of Broad Arrow/Robin Adams
Ian Kelleher
Broad Arrow Auctions
917-971-4008
ian.kelleher@broadarrowgroup.com