Hagerty’s footprint in the collector-car world resembles Paul Bunyan’s more every day, with its recent acquisition of the Broad Arrow Auctions group. Full disclosure, I have been working with Broad Arrow on prepping some of the catalog listings for their auction events, specifically the group’s impressive debut with a live auction at the Monterey Jet Center last week as part of Hagerty’s renamed Motorlux event at that venue, which drew several thousand notables to enjoy the cars, aircraft and Monterey gourmet cuisine that was offered. But at its core, this was a high-end auto auction, and Broad Arrow performed proudly during its star turn.
As the photo shows, Broad Arrow presented an intimate setting for its sale, which included this 1995 Ferrari F50, which hammered at a world record price of $5.175 million. Just edging it out for top sale of the event was another Ferrari, a gorgeous 250 GT SWB Berlinetta “Tour de France” from 1957, which rolled out of the hangar for an even $5.5 million. The lot we were watching was the one spotlighted in this space, the 1964 Aston Martin DB5 from the estate of Sir Sean Connery, which brought $2,425,000 and included a personal drive with Sir Jackie Stewart. All together, the Monterey sale rang up $55.3 million in sales, with a 88 percent sell-through rate of the 93 lots offered. Broad Arrow now moves toward its sale liquidated the famed upstate New York collection of Jim Taylor before taking on another live sale this November in West Palm Beach. Broad Arrow has also been named as the official auction house at The Amelia, another Hagerty holding, beginning next year.