BROAD ARROW TO HOST THE PORSCHE 75TH ANNIVERSARY AUCTION
GROSSE POINTE, Michigan, Feb. 24, 2023 (GLOBE NEWSWIRE) -- Broad Arrow Auctions, a Hagerty (NYSE: HGTY) company, is thrilled to announce The Porsche 75th Anniversary Auction.
GROSSE POINTE, Michigan, Feb. 24, 2023 (GLOBE NEWSWIRE) -- Broad Arrow Auctions, a Hagerty (NYSE: HGTY) company, is thrilled to announce The Porsche 75th Anniversary Auction. The single-marque sale will be held during the celebration of the marque’s 75th anniversary at the Porsche Experience Center in Atlanta, over the weekend of June 8-10, 2023.
Every Porsche anniversary is worth celebrating, but 75 years of manufacturing and motorsport is especially noteworthy. As the auction house of Porsche’s 75th Anniversary celebration by Porsche Cars North America in June, Broad Arrow’s sale will commemorate this milestone and feature a curated selection of 75 of the most desirable classic and collectible Porsche motor cars in today’s market.
Leading early consignments for the sale is the “No. 001/001” Porsche 911 Classic Club Coupe. This one-of-one Porsche Classic project created in collaboration with the Porsche Club of America (PCA) features a 996- generation 911 Carrera enhanced through Porsche’s Sonderwunsch one-off program. The sports car’s one-of-a-kind modifications enhance its appearance and performance, taking inspiration from the 2010 911 Sport Classic, a limited-edition model that was not sold in the U.S. Completed at Stuttgart-Zuffenhausen, the Classic Club Coupe has the complete drivetrain from a 2004-2005 996.2-generation 911 GT3, a water-cooled flat-six that makes 381 horsepower and revs to 8,000 rpm, and a six-speed manual transmission. The Classic Club Coupe’s chassis and brakes are also taken from the 911 GT3.
The design was headed by Porsche’s Director of Special Projects, Grant Larson, who is best known for designing the 986 Boxster and Carrera GT. A ducktail spoiler evokes the iconic 1972 911 Carrera RS 2.7, and a double-bubble roof pays homage to a motorsports practice to make room for the driver’s helmet. The Sport Grey Metallic paint is both unique and understated while the painted racing stripes are light Sport Grey Metallic with thin Club Blau accent stripes. The Classic Club Coupe toured North America in 2022, making stops at Porsche Parade and PCA events throughout the year. It will now seek a new home as part of Broad Arrow’s offering at The Porsche 75th Anniversary Auction this spring. The car is offered without reserve and will be displayed and available for preview at Broad Arrow’s Amelia Auction, March 2-4 at The Ritz-Carlton, Amelia Island.
Providing an ideal venue for the auction, the Porsche Experience Center Atlanta is the first immersive brand destination built by Porsche in North America and is also part of the corporate headquarters of Porsche Cars North America (PCNA). Auction attendees will have the opportunity to tour the newly-expanded facilities, which include the new, state-of-the-art home of Porsche Classic featuring Factory Restoration which opened in early 2023, and the incredible new driver development track (opening on April 1), inspired by some of the most dynamic elements of iconic race courses around the world.
“There are few brands as significant to all facets of the collector car hobby as Porsche,” comments Kenneth Ahn, President, Hagerty Marketplace. “From iconic sports cars to legends of motorsport, we look forward to hosting this auction for our network of collectors and clients to bring high points in the marque’s history together in a unique auction setting for a celebration with fellow Porsche enthusiasts. Our veteran team of specialists has been responsible for the sale of some of the most significant collectible Porsche cars the collector car market has ever seen, and their expertise will again drive the presentation of some of the best classic and collectible Porsche motor cars at auction this spring.”
“This auction is personally exciting to me because of my lifelong love of Porsche, but it’s also exciting for the entire team at Hagerty and our members to see these two great brands come together,” said McKeel Hagerty, CEO of Hagerty, which acquired Broad Arrow Auctions last year.
In its short lifespan, Broad Arrow has already established a strong track record for the presentation and sale of significant Porsche motor cars at auction and via private sale. This list includes the private sale of a 1979 Porsche 935, the last in a line of ever-evolving, factory-built customer 911-based race cars, and the overall winner of the 1979 24 Hours at Daytona. At the company’s inaugural Monterey auction, Porsche motor cars stood out within the top ten sales, including a 2015 Porsche 918 Spyder Weissach Package ($1,930,000), a 1987 Porsche 959 ($1,875,000), and a 2005 Porsche Carrera GT ($1,765,000).
Collectors interested in consigning their important Porsche to this world-class event are invited to contact a Broad Arrow specialist via broadarrowauctions.com. Further information on auction consignments as well as additional activities set for the 75th anniversary weekend in Atlanta will be available in the coming weeks.
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About Broad Arrow Group, a Hagerty Company
Broad Arrow Group, 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 Group operates Broad Arrow Auctions, Broad Arrow Capital, and Collectors Garage and is headquartered in Grosse Pointe, Michigan. Learn more at broadarrowgroup.com.
About Hagerty, Inc. (NYSE: HGTY)
Based in Traverse City, Michigan, Hagerty's purpose is to save driving and car culture for future generations and its mission is to build a global business to fund that purpose. Hagerty is an automotive enthusiast brand offering integrated membership products and programs as well as a specialty insurance provider focused on the automotive enthusiast market. Hagerty is home to Hagerty Marketplace, Hagerty Drivers Club®, Hagerty Drivers Club magazine, Hagerty Drivers Foundation, Hagerty DriveShare™, Hagerty Valuation Tools®, Hagerty Media, MotorsportReg, Hagerty Garage + Social®, The Amelia, the Detroit Concours d'Elegance, the Greenwich Concours d'Elegance, the California Mille, Motorlux, RADwood, Broad Arrow Group and more. For more information on Hagerty please visit www.hagerty.com, or connect with us on Facebook, Instagram and Twitter.
About the Porsche Experience Center Atlanta
As the first of its kind in North America, The Porsche Experience Center in Atlanta is a destination where customers and enthusiasts alike can immerse themselves in the Porsche brand. The highlight of the facility is the driver development tracks, designed to simulate everyday driving conditions and provide more challenging environments to experience the thrill of driving a Porsche. The venue is also home to a Heritage Gallery, Classic Factory Restoration Workshop and the Porsche Exclusive Manufaktur - Personal Design Studio. In addition, the experience center also includes a Driving Simulator Lab, the Porsche Driver’s Selection Store, the Carrera Café, and Restaurant 356 for the ultimate fine-dining experience.
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 24, 2022. 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
Ian Kelleher, CMO Broad Arrow Auctions 917-971-4008 [email protected] Meghan McGrail, Director of Media Relations Broad Arrow Auctions 519-365-8750 [email protected]