The fledgling Broad Arrow Group, a Hagerty firm, achieved $86.7 million in complete gross sales throughout three dwell public sale occasions within the firm’s inaugural public sale season, August–November 2022.
In its first yr, Broad Arrow confirmed hosted a trio of dwell auctions: The high-end, extremely curated catalog sale with the Monterey Jet Heart Public sale at Motorlux in August ($55.3 million complete); a single-owner non-public assortment sale with The Automobiles of Jim Taylor in October ($21.3 million complete); and a sale for all tastes and worth ranges with the West Palm Seaside Public sale in November ($10.2 million complete).
Broad Arrow realized 17 world file public sale costs, with an total sell-through price of 84 p.c, promoting 838 tons in complete.
Watch the season overview video HERE.
“It’s actually unimaginable what our group has achieved throughout Broad Arrow’s first full yr of operations. What we realized—each quantitatively and qualitatively—well-exceeded our expectations,” famous Kenneth Ahn, President of Hagerty Market and Co-Founding father of Broad Arrow Group. “We recognize the collector automotive neighborhood who supported and entrusted us in our first yr. Heading into 2023, I’m enthusiastic about what we will do as a Hagerty firm, and we are going to proceed to enhance and innovate to raised serve automotive lovers for years to come back. We stay up for welcoming everybody because the official public sale home of The Amelia in March.”
Broad Arrow’s high public sale gross sales of 2022 have been led by a trio of Ferraris bought throughout Motorlux on the Monterey Jet Heart Public sale, representing excessive factors within the marque’s illustrious historical past. The group included a 1957 Ferrari 250 GT LWB Berlinetta Scaglietti “Tour de France” (essential picture) which bought for $5,500,000; a 1995 Ferrari F50 (its promoting worth of $5,175,000 was a brand new world public sale file on the time of sale); and a 2015 Ferrari LaFerrari (bought for $3,910,000).
Further high 10 gross sales embody standout motor vehicles from the market’s most sought-after marques together with Mercedes-Benz, Aston Martin, and Porsche.
Based in December 2021, Broad Arrow Group has shortly gained momentum inside the collector automotive market, providing a brand new platform for purchasing and promoting throughout a number of channels together with auctions, non-public gross sales, and financing options. In 2022, Collector’s Storage—Broad Arrow’s non-public gross sales enterprise—accomplished greater than 60 non-public gross sales with a mean transaction worth effectively in extra of $1M, highlighted by a number of the market’s most vital motor vehicles, together with one of many lowest mileage Ferrari F50s on this planet. One other spotlight is the sale of a formidable 1979 Porsche 935, the final in a line of ever-evolving, factory-built buyer Porsche 911-based race vehicles and the general winner of the 1979 24 Hours at Daytona. Collectors Storage is concentrated on matching consumers and sellers privately with professionalism, integrity, and full discretion.
In August 2022, Hagerty, an automotive life-style model and a number one specialty insurance coverage supplier targeted on the worldwide automotive fanatic market, entered right into a definitive settlement to accumulate Broad Arrow Group. Broad Arrow Group purchasers now profit from entry to Hagerty’s spectacular attain and vary of providers provided to collector automotive lovers.
In November 2022, Hagerty additionally launched its Market on-line auctions, which permit members and lovers to purchase and promote vehicles via a trusted, easy-to-use on-line public sale platform. Collectively, Hagerty and Broad Arrow now supply a full suite of shopping for and promoting choices to the collector automotive neighborhood based mostly on their particular person wants, from each dwell and on-line auctions to personal gross sales, classifieds, and financing options.
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Broad Arrow will kickstart its 2023 calendar with the corporate’s inaugural Amelia Public sale and debut because the official public sale of The Amelia. Set for March 3-4 at The Ritz-Carlton, Amelia Island, the Amelia Public sale will function distinctive collector vehicles starting from pre-Conflict classics to fashionable supercars. Preliminary highlights embody an exceptionally well-prepared and offered 1961 Mercedes-Benz 300 SL Disc Brake Roadster.
