Broad Arrow Auctions Announces Partnership with the Chattanooga Motorcar Festival, Will Host Collector Car Auction Alongside Festival Programming for 2024

By: Broad Arrow Auctions via GlobeNewswire

July 09, 2024 at 10:54 AM EDT

Grosse Pointe, MI, July 09, 2024 (GLOBE NEWSWIRE) -- Broad Arrow Auctions, a Hagerty (NYSE: HGTY) company, is thrilled to announce the addition of a fourth and final U.S.-based auction for the 2024 calendar year that will see approximately 100 collector cars crossing the block as part of the 2024 Chattanooga Motorcar Festival. The partnership unites the fast-growing Motoring Festival, now in its fifth year, alongside a Broad Arrow boutique auction set to feature a wide array of collector cars on October 12, 2024.

Kenneth Ahn, President of Hagerty Marketplace and Broad Arrow, states, “We are thrilled by the opportunity to be working with the Chattanooga Motorcar Festival, its founder Byron DeFoor, and his talented team. Chattanooga, Tennessee is a tremendous backdrop to hold our auction, and we could not be more pleased to partner with the Chattanooga Motorcar Festival to support the Neuroscience Innovation Foundation, raising funds and awareness for a worthy cause, while shining a light on the exciting developments in downtown Chattanooga.”

Byron DeFoor, Founder of the Chattanooga Motorcar Festival states, “It gives me great pleasure to welcome my automotive enthusiast friends to our beautiful city each October and this year, we could not be more pleased to welcome Broad Arrow and Hagerty to be an integral part of the event and witness the transformation that our city undergoes in preparation for the festivities. I am equally proud that our event will again benefit the Neuroscience Innovation Foundation (NIF). I am humbled by the opportunity to not only support such worthy causes but to do so through the collector car community. We look forward to welcoming everyone to our wonderful city this October 11-13 for an exciting weekend of activities.”

Donnie Gould, Senior Car Specialist, states, “Chattanooga has long been a key location in the car collecting world and there are a number of significant collectors and collections located in the region with whom we have very strong relationships. Notably, Chattanooga is only a day’s drive away from nearly 80% of the continental US population, so it sits virtually at the epicenter of so many population hubs. We are delighted to support their passion in the region and an outstanding motorcar festival and concours by assembling a roster of cars of interest to our core global clientele. Even now, as we announce the auction, we expect consignment interest to be quite strong.”

For consignment inquiries or for more information on this exciting auction please visit our website at www.broadarrowauctions.com for additional event details. Next on the Broad Arrow Auctions calendar is the Monterey Jet Center Auction being held this August 14-15 alongside Motorlux at the Monterey Jet Center. The company is also pleased to announce a date change for this year’s Monterey auction as, for the first time, the Hagerty Motorlux event will serve as the backdrop for a selected offering of approximately 40 cars to be auctioned on Wednesday evening, the 14^th, with the auction beginning at 5:30 pm. The auction will continue Thursday, the 15^th with the sale beginning at 3:00 pm. Please visit the Broad Arrow website for additional information on the upcoming auction. To purchase Motorlux tickets directly, please visit the Motorlux website.

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.

About Chattanooga Motorcar Festival - Proceeds from the Chattanooga Motorcar Festival support neuroscience research through Fifty Plus Foundation, Inc. Approaching 13 years of supporting Alzheimer’s and neuroscience research, Fifty Plus Foundation created the Chattanooga Motorcar Festival to bring both local and global support to back research that is already making a difference in saving lives. Learn more at chattanoogamotorcar.com.

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.

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Ian Kelleher
Broad Arrow Auctions
917-971-4008
ian.kelleher@broadarrowgroup.com

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Broad Arrow Auctions Announces Partnership with the Chattanooga Motorcar Festival, Will Host Collector Car Auction Alongside Festival Programming for 2024

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