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1948 FERRARI 166 SPYDER CORSA SETS NEW AUCTION RECORD AT BROAD ARROW’S INAUGURAL CONCORSO D’ELEGANZA VILLA D’ESTE AUCTION SELLING FOR €7.54 MILLION

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Broad Arrow Auctions, a Hagerty (NYSE: HGTY) company, achieved remarkable success at its inaugural European sale at the Concorso d'Eleganza Villa d'Este, generating total sales of €31.17 million with a 78% sell-through rate. The highlight was a 1948 Ferrari 166 Spyder Corsa setting a new auction record at €7.54 million. The two-day auction featured over 70 premium vehicles, with notable sales including a 2003 Honda NSX-R setting a record at €934,375 and a 1989 Ferrari F40 Competizione selling for €2.31 million. The BMW-exclusive sale saw a 1980 BMW M1 with Procar specifications sell for €602,500. The event attracted significant interest, with over 8,000 viewers watching the live stream on YouTube.
Broad Arrow Auctions, società di Hagerty (NYSE: HGTY), ha ottenuto un successo straordinario alla sua prima asta europea al Concorso d'Eleganza Villa d'Este, generando vendite totali per 31,17 milioni di € con un tasso di vendita del 78%. Il momento clou è stato un Ferrari 166 Spyder Corsa del 1948 che ha stabilito un nuovo record d'asta a 7,54 milioni di €. L'asta di due giorni ha presentato oltre 70 veicoli di alta gamma, con vendite degne di nota come una Honda NSX-R del 2003 che ha raggiunto un record di 934.375 € e una Ferrari F40 Competizione del 1989 venduta per 2,31 milioni di €. La vendita esclusiva BMW ha visto una BMW M1 del 1980 con specifiche Procar venduta per 602.500 €. L'evento ha suscitato grande interesse, con oltre 8.000 spettatori che hanno seguito la diretta streaming su YouTube.
Broad Arrow Auctions, una empresa de Hagerty (NYSE: HGTY), logró un éxito notable en su primera subasta europea en el Concorso d'Eleganza Villa d'Este, generando ventas totales de 31,17 millones de € con una tasa de venta del 78%. El punto culminante fue un Ferrari 166 Spyder Corsa de 1948 que estableció un nuevo récord de subasta en 7,54 millones de €. La subasta de dos días presentó más de 70 vehículos premium, con ventas destacadas como un Honda NSX-R de 2003 que estableció un récord en 934.375 € y un Ferrari F40 Competizione de 1989 vendido por 2,31 millones de €. La venta exclusiva de BMW incluyó un BMW M1 de 1980 con especificaciones Procar vendido por 602.500 €. El evento atrajo un gran interés, con más de 8,000 espectadores siguiendo la transmisión en vivo en YouTube.
Broad Arrow Auctions는 Hagerty(NYSE: HGTY)의 자회사로, Concorso d'Eleganza Villa d'Este에서 열린 첫 유럽 경매에서 총 3,117만 유로의 매출과 78% 판매율이라는 놀라운 성과를 거두었습니다. 하이라이트는 1948년형 페라리 166 스파이더 코르사가 경매 신기록인 754만 유로에 낙찰된 것입니다. 이틀간 진행된 경매에는 70대 이상의 프리미엄 차량이 출품되었으며, 2003년형 혼다 NSX-R93만 4,375 유로로 신기록을 세웠고, 1989년형 페라리 F40 컴페티치오네231만 유로에 판매되었습니다. BMW 전용 경매에서는 1980년형 BMW M1 프로카 사양 차량이 60만 2,500 유로에 낙찰되었습니다. 이 행사는 유튜브 라이브 스트리밍을 통해 8,000명 이상의 시청자가 참여하며 큰 관심을 모았습니다.
Broad Arrow Auctions, une société de Hagerty (NYSE : HGTY), a connu un succès remarquable lors de sa première vente européenne au Concorso d'Eleganza Villa d'Este, générant un chiffre d'affaires total de 31,17 millions d'euros avec un taux de vente de 78%. Le point fort a été une Ferrari 166 Spyder Corsa de 1948 établissant un nouveau record aux enchères à 7,54 millions d'euros. La vente aux enchères de deux jours a présenté plus de 70 véhicules haut de gamme, avec des ventes notables telles qu'une Honda NSX-R de 2003 établissant un record à 934 375 € et une Ferrari F40 Competizione de 1989 vendue pour 2,31 millions d'euros. La vente exclusive BMW a vu une BMW M1 de 1980 aux spécifications Procar vendue pour 602 500 €. L'événement a suscité un grand intérêt, avec plus de 8 000 spectateurs suivant la diffusion en direct sur YouTube.
Broad Arrow Auctions, ein Unternehmen von Hagerty (NYSE: HGTY), erzielte bei seiner ersten europäischen Auktion beim Concorso d'Eleganza Villa d'Este bemerkenswerten Erfolg und generierte einen Gesamtumsatz von 31,17 Millionen € bei einer Verkaufsquote von 78%. Das Highlight war ein 1948er Ferrari 166 Spyder Corsa, der mit 7,54 Millionen € einen neuen Auktionsrekord aufstellte. Die zweitägige Auktion umfasste über 70 Premiumfahrzeuge, darunter bemerkenswerte Verkäufe wie ein 2003er Honda NSX-R mit einem Rekordpreis von 934.375 € und ein 1989er Ferrari F40 Competizione, der für 2,31 Millionen € verkauft wurde. Die exklusive BMW-Versteigerung beinhaltete einen 1980er BMW M1 mit Procar-Spezifikationen, der für 602.500 € verkauft wurde. Die Veranstaltung zog großes Interesse auf sich, mit über 8.000 Zuschauern, die den Livestream auf YouTube verfolgten.
Positive
  • Strong auction performance with 78% of lots sold and €31.17 million in total sales
  • Record-breaking sale of 1948 Ferrari 166 Spyder Corsa at €7.54 million
  • Successful expansion into European market with first auction
  • High-profile partnership with BMW AG as official auction partner
  • Strong online engagement with over 8,000 YouTube live stream viewers
Negative
  • None.

Insights

Hagerty's Broad Arrow Auctions achieved €31.2M in sales at their first European auction, signaling expansion and strong luxury market performance.

Broad Arrow Auctions, a Hagerty (NYSE: HGTY) company, has successfully completed its inaugural European auction as BMW AG's official auction partner, achieving total sales of €31,172,625 with a 78% sell-through rate across over 70 lots. This represents a significant milestone in Hagerty's European expansion strategy.

The auction's headline sale was a 1948 Ferrari 166 Spyder Corsa that fetched €7,543,750, setting a new auction record for this model. Another record was established with a 2003 Honda NSX-R selling for €934,375. These record-breaking sales demonstrate robust demand in the high-end collector car market despite broader economic concerns.

The two-day event held at Villa Erba attracted substantial engagement both in-person and digitally, with over 8,000 viewers watching via Broad Arrow's YouTube channel. This multi-channel engagement strategy appears effective in maximizing bidder participation.

Kenneth Ahn, Broad Arrow's President, indicated plans for continued European expansion throughout 2025, suggesting this auction serves as a strategic entry point to the European market. The partnership with BMW AG and the prestigious Concorso d'Eleganza Villa d'Este provides Hagerty with valuable brand positioning in the premium European collector car market.

For Hagerty investors, this successful European debut may signal new revenue streams and market expansion beyond North America. The strong sell-through rate and record prices achieved indicate that Hagerty's auction subsidiary is successfully targeting the ultra-high-net-worth collector segment, which often proves resilient during economic uncertainty.

LONDON, England, May 27, 2025 (GLOBE NEWSWIRE) --

  • Broad Arrow celebrates Concorso d’Eleganza Villa d’Este Auction, its first European sale
  • 78% of lots sold achieving total sales value of €31,172,625
  • 1948 Ferrari 166 Spyder Corsa sold for €7,543,750 – a new auction record for a Ferrari 166
  • Another auction record was broken as an outstanding 2003 Honda NSX-R sold for €934,375
  • BMW-only sale saw a stunning 1980 BMW M1 built to Procar specification sell for €602,500
  • A full list of auction results can be viewed here, and high-resolution images here
  • The next Broad Arrow sale takes place at the Monterey Jet Center, 13-14 August 2025

Broad Arrow Auctions, a Hagerty (NYSE: HGTY) company, is celebrating the success of its first European sale as the official auction partner of BMW AG after presenting over 70 of the world’s finest cars, boats and motorcycles at the prestigious Concorso d’Eleganza Villa D’Este.

Two vibrant sales, held on Saturday May 24th and Sunday May 25th in the Rotunda at Villa Erba, saw packed sales rooms and an atmosphere charged with excitement. Both auctions, also watched live by over 8,000 viewers on the Broad Arrow YouTube channel, achieved €31,172,625 in total sales, with 78 percent of all lots sold. Note, these figures include three lots sold within hours of the live auction ending.

“Our Concorso d’Eleganza Villa d’Este auction has been a resounding success,” says Joe Twyman, VP of Sales for Broad Arrow’s EMEA Region. “The opportunity to present such a spectacular collection of the world’s most desirable cars on the shores of Lake Como at the world famous Concorso was a great way to launch our first European sale.”

Star of the Sunday sale was a 1948 Ferrari 166 Spyder Corsa, quite possibly the most original early Ferrari extant, which sold for an auction record price of €7,543,750. Never before offered publicly for sale, it is one of two 166 Spyder Corsa models commissioned by one of Ferrari’s earliest customers. It has received awards at multiple prestigious shows and has competed in some of the greatest events, including the Mille Miglia and Targa Florio. The room was captivated by fast and competitive telephone bidding as two potential buyers fought for the chance to own this very special piece of Ferrari history.

The last of just 33 Motto-bodied Siata 208S Spiders, from 1954, was another highlight, with strong interest from bidders attracted by its beautiful style and remarkable provenance to achieve a sale price of €1,750,000.

Broad Arrow also presented a number of very special modern classic cars, including a spectacular 2003 Honda NSX-R. With just 15,800 kilometres, the Championship White, lightweight supercar attracted attention from around the world with bidders from the UK, Australia, Argentina, South Africa, and the US competing to own this rare supercar. Another electrifying sale saw a final bid duel lead to a world auction record-winning bid of €934,375.

Other modern classic highlights saw an outstanding 1989 Ferrari F40 Competizione attract a winning bid of €2,312,500 and a a 2023 Ford GT sell for €613,750.

To further demonstrate the broad range of enthusiast vehicles offered, a 1990 Ducati 851 F90 Corsa, owned by John Surtees but never ridden, tempted many bidders and sold for €81,250.

Broad Arrow also held a dedicated BMW-only sale, featuring cars from private collectors, on Saturday evening which produced equally impressive results. Featuring some of the most highly collectible models from the German marque, hosts of the Concorso d’Eleganza Villa d’Este, an outrageously beautiful 1980 BMW M1, enhanced to Procar specification by BMW Motorsport, took the spotlight. Causing a stir in the sale room it sold for an impressive €602,500.

“Not only did we achieve remarkable sales for some of the world’s most collectible models, but collectors were clearly excited by the carefully curated selection of cars we presented,” says Twyman. “We are extremely proud to have achieved such strong results, and a number of auction record sale prices, at our first European auction, and I now look forward to expanding Broad Arrow’s European sale calendar throughout 2025.”

Kenneth Ahn, President of Broad Arrow, added, "First and foremost, thank you to everyone for the tremendous interest and support for our very first auction in Europe, held on the stunning shores of Lake Como. By all accounts, it was an incredible success. We’re also deeply grateful to our wonderful partner, BMW AG, and the Concorso d’Eleganza Villa d’Este. We look forward to welcoming even more car enthusiasts and industry friends as we continue to grow our presence in Europe."

Broad Arrow Auctions Concorso d’Eleganza Villa d’Este 2025 - Top 10 Sales

1. 1948 Ferrari 166 Spyder Corsa by Ansaloni - €7,543,750

2. 1938 Talbot Lago T150 C Lago Speciale Teardrop Coupe by Figoni et Falaschi - €3,606,250

3. 1989 Ferrari F40 Competitzione - €2,312,500

4. 1954 Siata 208S Motto Spider - €1,750,000

5. 1965 Ferrari 275 GTS - €1,525,000

6. 2006 Porsche Carrera GT – Sold Ahead of Auction

7. 1957 Mercedes-Benz 300 SL Roadster - €1,007,500

8. 2003 Honda NSX-R - €934,375

9. 2023 Ford GT - €613,750

10. 1980 BMW M1 - €602,500

The next auction on the Broad Arrow calendar is Monterey Jet Center, California on 13-14 August 2025, held in conjunction with Motorlux.

Interviews and further information available on request.

NOTE: All prices are listed in Euros and include buyer’s premium, which is equal to the sum of fifteen percent (15%) plus VAT of the first €250,000 of the Hammer Price 12.5% plus VAT 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. 

Event images by Tom Clutterbuck.

Ends.

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 875,000 who can’t get enough of cars. For more information, please visit www.hagerty.com or connect with us on FacebookInstagramX 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 recognise 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



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

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

FAQ

What was the total sales value at Broad Arrow's Villa d'Este auction 2025?

The auction achieved total sales of €31,172,625, with 78% of all lots sold across the two-day event.

How much did the 1948 Ferrari 166 Spyder Corsa sell for at the Villa d'Este auction?

The 1948 Ferrari 166 Spyder Corsa sold for a record-breaking €7,543,750, setting a new auction record for a Ferrari 166.

What were the top 3 most expensive cars sold at the 2025 Villa d'Este auction?

The top 3 sales were: 1948 Ferrari 166 Spyder Corsa (€7.54M), 1938 Talbot Lago T150 C (€3.61M), and 1989 Ferrari F40 Competitzione (€2.31M).

When and where is Broad Arrow's next auction after Villa d'Este 2025?

The next Broad Arrow auction will take place at the Monterey Jet Center, California on August 13-14, 2025.

What was significant about the Honda NSX-R sale at the Villa d'Este auction?

The 2003 Honda NSX-R set a world auction record, selling for €934,375, attracting global bidders with just 15,800 kilometers on the odometer.
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