Broad Arrow's European Auction Milestone
Broad Arrow Auctions recently celebrated a significant milestone at its inaugural European auction. This event showcased a stunning array of luxurious cars, boats, and motorcycles at the prestigious Concorso d’Eleganza Villa d’Este, marking a remarkable entry into the European auction scene.
A Record-Breaking Sale
Among the most notable outcomes of the auction was the sale of the exceptional 1948 Ferrari 166 Spyder Corsa. This remarkable vehicle sold for an outstanding €7,543,750, setting a new record for the highest auction price for a Ferrari 166. This specific model, one of only two commissioned by one of Ferrari's earliest patrons, has established itself as a beacon of automotive heritage.
Outstanding Auction Performance
The auction itself was a resounding success, with an impressive 78% of lots sold, leading to total sales exceeding €31 million. This event was a testament to the enthusiasm of car collectors and the allure of vintage automobiles, as many bidders were drawn to the opportunity to own a piece of automotive history.
Exciting Highlights from the Auction
In addition to the Ferrari, the auction featured other notable sales, including a record-breaking price of €934,375 for a 2003 Honda NSX-R, demonstrating the demand for modern classic cars. The event also included a BMW-only sale, which saw a spectacular 1980 BMW M1 fetching €602,500. Collectors eagerly converged to place bids on some of the most sought-after models from the German manufacturer.
Modern Classics Take Center Stage
Among the numerous modern classic highlights was a remarkable 1989 Ferrari F40 Competizione that sold for €2,312,500, along with a 2023 Ford GT that achieved €613,750. The auction attracted international bidders, showcasing the global interest in rare and pristine vehicles.
Collector Community's Enthusiasm
The excitement of the auction was palpable, with over 8,000 viewers tuning in to watch the bidding unfold. Joe Twyman, VP of Sales for Broad Arrow’s EMEA Region, expressed his pride in launching the company in such a magnificent setting, stating, “The opportunity to present such a spectacular collection of the world’s most desirable cars on the shores of Lake Como was a great way to launch our first European sale.”
Appreciation for Community and Collaboration
Kenneth Ahn, President of Broad Arrow, conveyed heartfelt gratitude for the support received from collectors and partners, particularly BMW AG, during this monumental event. His reflections on the success of the auction highlight the importance of community and collaboration in the collector car world.
Upcoming Auction Plans
Broad Arrow is eager to expand its presence and is already planning the next auction at the Monterey Jet Center in California on 13–14 August 2025. This event promises to be another exciting opportunity for collectors and car enthusiasts to find unique automotive treasures.
Future for Broad Arrow Auctions
As a subsidiary of Hagerty (NYSE: HGTY), Broad Arrow Auctions is poised for growth and further success. Their commitment to delivering exceptional vehicles and unparalleled auction experiences has established them as a notable player in the collector car auction market.
Frequently Asked Questions
What was the highest sale at the Broad Arrow auction?
The highest sale was the 1948 Ferrari 166 Spyder Corsa, which sold for €7,543,750.
How many lots were sold at the auction?
A total of 78% of the lots were sold during the auction, totaling €31,172,625.
What else was notable about the auction?
Notable sales included a 2003 Honda NSX-R that sold for €934,375 and a 1980 BMW M1 fetching €602,500.
When is the next Broad Arrow auction?
The next auction will take place at the Monterey Jet Center on 13-14 August 2025.
Who operates Broad Arrow Auctions?
Broad Arrow Auctions is a subsidiary of Hagerty, a company specializing in automotive enthusiast services.
