Grosse Pointe, Michigan, March 10, 2025 (GLOBE NEWSWIRE) -- Broad Arrow Auctions, a Hagerty (NYSE: HGTY) company, saw great success with its third annual Amelia Auction on Friday, March 7 and Saturday, March 8—the official auction of The Amelia Concours d’Elegance. The auction achieved $61.7 million in total sales, with 88 percent of all lots sold. A well-attended preview in the ballroom and on the ocean-front lawn of the Ritz-Carlton Amelia Island translated to standing-room-only across both auction days. The energy was palpable throughout the auction, with Lydia Fenet, Broad Arrow’s Principal Auctioneer, moderating spirited bidding battles on Friday and Saturday. Bidder registration was the highest for any Broad Arrow auction to date. Registrations increased 22 percent over the 2024 Amelia Auction, with 60 percent of bidders attending the auction in person. The auction also drew more than 15,000 viewers on Broad Arrow’s YouTube channel and was viewed by millions on Hagerty’s Samsung TV Plus and newly launched Tubi channels. 

The top sale of the Amelia Auction was a revered, Ferrari Classiche-certified 1959 Ferrari 250 GT LWB California Spider Competizione, chassis number 1451 GT. The second of only eight aluminum-bodied Ferrari 250 GT LWB California Spider Competiziones, the Ferrari achieved a remarkable 5th overall, capturing a GT class podium at the 1959 24 Hours of Le Mans with its first owner, Bob Grossman. It is the first California Spider equipped from the factory with the competition-specification, outside-plug Type 128 F engine, among numerous other competition features. Arguably the most significant 250 GT California Spider in existence, the car commanded a back-and-forth competition between a bidder on the phone and in the room before selling at a final $9,465,000 to the telephone bidder.

“We’re thrilled with the results from our third Amelia Auction,” said Barney Ruprecht, Senior Car Specialist and Vice-President of Auctions for Broad Arrow following the sale. “We presented a high-quality offering that saw frequent bidding competitions between bidders both in the room and over the phones and internet throughout the two days and across all categories of the market. The California Spider becomes the most valuable car Broad Arrow has ever sold, and the Miura is—significantly—the second most valuable example of the model ever sold at auction. We also saw the continued strength of the Porsche market with the sale of the 918 Spyder and numerous strong individual prices for exceptional 911s as we head into our Porsche Air|Water Auction next month in California.”

Beyond the Ferrari California Spider sale, the top 10 cars sold at Broad Arrow’s 2025 Amelia Auction are led by stand-out supercars from across the last 50 years of production, from an Arancia Orange 1971 Lamborghini Miura P400 SV which attracted a considerable amount of attention before selling at a final $4,460,000, to a 2018 Pagani Huayra Roadster at a strong $3,415,000. The list also includes post-war sports and racing legends and a million-dollar Classic-Era Auburn 851 Super-Charged "Boattail" Speedster, which sold for $1,011,500.

Broad Arrow Auctions Amelia 2025 - Top 10 Sales

Complete results from Broad Arrow’s 2025 Amelia Auction are available at broadarrowauctions.com. The auction house will continue its 2025 calendar with the Spring Memorabilia Online Auction, an outstanding sale of desirable motorsport memorabilia—offered entirely without reserve. The German-based auction features iconic helmets, most of which have been used in Formula One by well-known drivers such as Mika Häkkinen, Jean Alesi, Charles Leclerc, and more. The auction runs online from April 21 to May 4 at broadarrowauctions.com.

Broad Arrow’s next live auction is the second annual Porsche Air|Water Auction, set for April 26^th in partnership with the creators of Luftgekühlt. Held at the Orange County Fairgrounds in Costa Mesa, California, the single-day auction will once again feature approximately 50 desirable Porsches along with a selection of sought-after Porsche automobilia pieces. Interested consignors are encouraged to speak with a Broad Arrow car specialist about the limited remaining consignment opportunities for both the Porsche Air|Water and Concorso d’Eleganza Villa d’Este Auctions. Additional information is available at broadarrowauctions.com.

NOTE: 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 equal to twenty-five (25%) percent of the Hammer Price. 

Editors Notes 

About Broad Arrow Auctions - Broad Arrow Auctions, a Hagerty (NYSE: HGTY) company, is a leading global collector car auction house. Founded in 2021 by highly experienced industry veterans, Broad Arrow offers exceptional quality cars to collectors and enthusiasts around the world. As the fastest growing auction house in its segment, Broad Arrow’s flagship annual events include The Monterey Jet Center Auction, in conjunction with Motorlux in California, The Amelia Auction, as the official auction of The Amelia (Concours d’Elegance) in Florida, and The Porsche Auction, in conjunction with Air | Water by Luftgekühlt in California. Broad Arrow expanded its global footprint in 2023, with renowned car specialists joining the team in the UK and Europe. Broad Arrow is launching its first auction in Europe in May 2025 as the new official auction house of the Concorso d’Eleganza Villa d’Este in Italy. Learn more at broadarrowauctions.com and follow us on Instagram, Facebook, LinkedIn, and Twitter.  

About Hagerty, Inc. (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 865,000 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.   

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. 

Attachments

• The top-selling 1959 Ferrari 250 GT LWB California Spider Competizione from Broad Arrow's 2025 Amelia Auction ($9,465,000)
• The 1971 Lamborghini Miura P400 SV sold for $4,460,000 at Broad Arrow's 2025 Amelia Auction

Ian Kelleher
Broad Arrow Auctions
+1 917-971-4008
ikelleher@hagerty.com

Meghan McGrail
Broad Arrow Auctions
+1 519-365-8750
mmcgrail@hagerty.com