BROAD ARROW’S EXPANSION IN EUROPE CONTINUES WITH THE ZOUTE CONCOURS AUCTION IN BELGIUM
- Successful European debut auction achieved €31.2 million in sales with 78% sell-through rate
- Strategic expansion into European market with new prestigious auction event
- Partnership with established Zoute Grand Prix Car Week enhances market presence
- Diversification of revenue streams through high-end collector car auctions
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Insights
Hagerty's Broad Arrow expanding in Europe with successful auctions and strategic partnerships, strengthening its international collector car market position.
Hagerty's strategic expansion of its Broad Arrow Auctions subsidiary into Europe represents a methodical internationalization of its collector car services ecosystem. The announcement of the Zoute Concours Auction in Belgium marks the second European event following their successful debut at Villa d'Este, which generated
This European expansion demonstrates Hagerty's execution of a multi-pronged growth strategy: geographic diversification beyond North America, strategic partnerships with prestigious events (BMW AG's Concorso d'Eleganza and now Zoute Grand Prix), and leveraging specialized expertise in the high-value collector car segment.
The European collector car market represents a significant opportunity with different dynamics than the North American market. By establishing operations in key European locations and partnering with prestigious events that attract wealthy collectors, Hagerty is positioning Broad Arrow to capture market share in the lucrative international auction space dominated by established players like RM Sotheby's and Bonhams.
The company's methodical approach—starting with Villa d'Este in Italy and now expanding to Belgium—suggests a deliberate strategy to build presence at Europe's most prestigious automotive events where ultra-high-net-worth collectors gather. The 70-car offering planned for the Zoute auction indicates a carefully curated approach focused on quality over volume, appropriate for the European market's appreciation for exclusivity.
AUCTION SET FOR 10 OCTOBER IN COLLABORATION WITH ZOUTE GRAND PRIX CAR WEEK | NEW SALE ANNOUNCED ON THE HEELS OF BROAD ARROW’S SUCCESSFUL FIRST EUROPEAN AUCTION AT THE CONCORSO D’ELEGANZA VILLA D’ESTE IN PARTNERSHIP WITH BMW AG
LONDON, England, June 02, 2025 (GLOBE NEWSWIRE) -- Broad Arrow Auctions, a Hagerty (NYSE: HGTY) company, is delighted to announce the addition of a new event on its global auction calendar—The Zoute Concours Auction, held in collaboration with Zoute Grand Prix Car Week (8-12 October 2025) in Belgium. Set for Friday, 10 October on the grounds of the beautiful Approach Golf in Knokke-Heist, a stone’s throw from the beach, the single-day auction will present approximately 70 exceptional collector cars across a wide variety of categories, marques, and price points.
“We are thrilled to announce the Zoute Concours Auction as our newest sale date just days after a fantastic European auction debut for Broad Arrow,” says Karsten Le Blanc, Head of Broad Arrow’s EMEA Region & Broad Arrow Capital. “Our great success at the Concorso d’Eleganza Villa d’Este Auction is a testament to the team of experienced car specialists and seasoned industry operators we have assembled in EMEA, and we look forward to collaborating with Koen Van Hout and the Zoute Grand Prix team to bring the Broad Arrow experience to Belgium this fall.”
Gregory Tuytens, Head of Consignments in Belgium & The Netherlands for Broad Arrow adds: “I’ve personally enjoyed a longstanding relationship with Zoute Grand Prix, an event beloved by European collectors and enthusiasts alike. The exclusivity of the event and the genuine passion for motoring exhibited throughout the week make Zoute a fantastic next step in expanding Broad Arrow’s European presence. The festival draws important collectors from around the world, and we’re excited to curate an exceptional selection of collector cars for auction to suit their tastes and enhance the incredible cars that descend on Belgium for the Zoute Grand Prix Car Week in October.”
Zoute Grand Prix Car Week, a staple on the European and international motoring calendar, is a five-day festival that blends exceptional automobiles, avant-garde art, and a luxury lifestyle, promising a truly unforgettable celebration in beautiful Knokke-Heist. Broad Arrow’s Zoute Concours Auction will be held in conjunction with the return of the prestigious Zoute Concours d’Élégance by ING Private Banking on Saturday 11 and Sunday 12 October. The auction is expected to offer approximately 70 highly curated cars, alongside an impressive display of automotive elegance at the Zoute Concours d’Élégance by ING Private Banking.
Koen Van Hout, CEO, Zoute Grand Prix adds: "We are very proud to announce our partnership with Broad Arrow, a second international auction house, during the Zoute Grand Prix Car Week, a natural and exciting collaboration between two ambitious companies united by a shared vision of the future, a passion for excellence, and the drive to expand our global reach. This is a partnership that will strengthen the international character of our event and take the Zoute Grand Prix Car Week to new heights."
The announcement of the Zoute Concours Auction follows Broad Arrow’s European auction debut as BMW AG’s official auction partner of the Concorso d’Eleganza Villa d’Este. Held on 24-25 May at the stunning Villa Erba, the inaugural auction was a resounding success, totalling
Additional information on the Zoute Concours Auction is available at broadarrowauctions.com. Early consignments will be announced in the coming weeks. Collectors interested in consigning to or attending the auction are invited to speak with a Broad Arrow car specialist about this exciting new sale.
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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 launched its first auction in Europe in May 2025 as the new official auction house of the Concorso d’Eleganza Villa d’Este in Italy in partnership with BMW AG. 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 Facebook, Instagram, X and LinkedIn.
About Zoute Grand Prix Car Week
Zoute Grand Prix is a captivating celebration of high-end lifestyle, art, and automotive excellence. What began in 2010 as a rally of historic cars among friends, has evolved into one of Europe’s most prestigious events for lovers of both classic and contemporary automobiles. Now in its 16th edition, this five-day festival draws passionate collectors, connoisseurs, and car enthusiasts from around the world. Held in the heart of Knokke-Heist—one of Europe’s most refined coastal towns—Zoute Grand Prix Car Week features a Classic Rally, a Concours d’Elegance, a GT Tour, and exclusive exhibitions of art and design. Visitors can admire iconic historic models alongside cutting-edge premieres from the world’s most luxurious manufacturers, many making their European debut. In 2021, the event received international recognition as Motoring Event of the Year at the Historic Motoring Awards in London.
Beyond the automotive allure, guests enjoy top-tier gastronomy, with celebrated chefs and premium dining experiences. Every detail reflects world-class hospitality and understated elegance, making Zoute Grand Prix an unmissable event for those who appreciate beauty, performance, and exclusivity. Discover more at zoutegrandprix.be
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
- Karsten Le Blanc (left), Head of Broad Arrow’s EMEA Region & Broad Arrow Capital, Koen Van Hout, CEO of Zoute Grand Prix Car Week, and Kenneth Ahn, President of Broad Arrow, at the Concorso d’Eleganza Villa d’Este Auction in May 2025
- A selection of significant collector cars on display at the Zoute Concours d’Élégance 2023 on the grounds of the Royal Zoute Golf Club.
Ian Kelleher Broad Arrow Auctions 917-971-4008 ikelleher@hagerty.com Meghan McGrail Broad Arrow Auctions 519-365-8750 mmcgrail@hagerty.com
FAQ
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