Hagerty Marketplace Brings Retro Motors Collection to Online Auction Platform

Rhea-AI Summary

On May 15, Hagerty Marketplace will launch its first-ever private collection sale, featuring the Retro Motors Collection, which includes over 30 American muscle and high-powered European sports cars. This rolling auction format will open bidding daily, allowing collectors to purchase meticulously inspected vehicles. Highlights include a 2020 Chevrolet Corvette, a 2006 Ford GT, and a 2008 Ferrari F430 Spider. The auction aims to attract enthusiasts by offering high-quality vehicles, with the entire collection cataloged by specialists. More details and bidder registration can be found at hagerty.com/marketplace.

Positive

• Launch of the first private collection on Hagerty Marketplace signifies expansion and innovation in online auctions.
• Diverse collection includes desirable American muscle and European sports cars, appealing to a broad market.
• Vehicles are thoroughly inspected and cataloged, ensuring quality and reliability for bidders.

Negative

• None.

May 15 launch marks first single owner private collection offered via Hagerty Marketplace

• The Retro Motors Collection includes desirable American muscle and high-powered European sports cars
• The Collection will open for bidding on May 15 in a rolling format, with a selection of cars going live each day
• First private collection to be offered via Hagerty Marketplace online auction platform
• Additional information and bidder registration available at hagerty.com/marketplace

TRAVERSE CITY, Mich., April 26, 2023 /PRNewswire/ -- Hagerty, Inc., (NYSE: HGTY) an automotive lifestyle brand and a leading specialty insurance provider, today announced the offering of Hagerty Marketplace online auction's first private collection sale. The recently launched platform allows members and enthusiasts to buy and sell automobiles through a trusted, easy-to-use system. The Retro Motors Collection comprises over 30 cars largely from the 1950s through today, with a focus on American muscle and high-powered European sports cars. 

The Retro Motors Collection will launch on Hagerty Marketplace online auctions beginning Monday, May 15 in a rolling format, with a handful of cars opening for bidding daily and closing five days following each launch. Complete date and time details will be available here. Offered by a lifelong, passionate enthusiast who has been buying and selling collector cars for decades, each car from The Retro Motors Collection has been inspected and cataloged by a Hagerty Marketplace specialist. 

Barney Ruprecht, Vice President of Auctions, Hagerty Marketplace, comments: "The Retro Motors Collection is offered by a passionate enthusiast and friend of Hagerty and Broad Arrow who has been collecting his entire adult life. The cars available for bidding offer broad appeal in today's market and collectors and enthusiasts will appreciate the owner's affinity for the best-optioned, highest-performing examples of each model. The online auctions platform has seen exciting growth in membership and in the variety of collector cars on offer over the last several months, and we're thrilled to present the very first private collection via Hagerty Marketplace."

Highlights from The Retro Motors Collection embody the owner's need for speed and passion for power, led by:

A fantastic example of the mid-engine 2020 Chevrolet Corvette, featuring the fully-loaded 3LT trim level and equipped with the Z51 performance suspension package with Magnetic Ride Control, electronic limited-slip differential, performance rear axle ratio, heavy-duty cooling system, and performance-tuned exhaust. Notably, the collection features six Corvette examples across the history of the model, including a handful of desirable six-speed modern classic Corvettes.

Desirably equipped with all four factory options, this 2006 Ford GT is finished in classic Centennial White accented by Blue over-the-top racing stripes and optional lightweight forged aluminum BBS wheels. Powered by a supercharged 5.4-liter V8 producing 550 horsepower with a six-speed manual transmission, this highly collectible "Pace Car For An Entire Company" is offered with just over 2,200 miles with its original Ford GT car cover and window sticker.

Another impressive highlight is this outstanding 1999 Shelby Series 1, one of just 249 built and powered by the 4.0 liter V8 equipped with the rare $22,000 Vortech supercharger factory upgrade. Notably, it was originally ordered by Tony Stewart Racing and is signed by both Stewart and Carroll Shelby. Showing just over 1,780 miles and very well-equipped from new and in excellent overall condition.

A low-mileage, unmodified, and well-specified 2008 Ferrari F430 Spider finished in Giallo Modena over a Nero leather interior with contrasting yellow inserts and stitching.  Powered by a 4.3-liter V8 engine mated to a six-speed paddle-shifted F1 transmission, the Ferrari is highly optioned via the Carrozzeria Scaglietti personalization program with 19-inch Challenge wheels, Scuderia Ferrari shields, Daytona style seats, yellow rev counter, carbon fiber dashboard inserts, and more.

A sporting family car, a 2018 Mercedes-AMG E 63 S 4MATIC+ Wagon, finished in designo Cardinal Red Metallic over an AMG Black Nappa Leather with Silver Stitching interior and powered by a twin-turbocharged 4.0-Liter 'M177' V8 engine generating 603 hp. The Wagon was claimed to be the world's fastest station wagon when new, setting a Nürburgring Nordschleife lap time of 7:45.19 in 2018.

A luxurious 2012 Mercedes-Benz SLS AMG Roadster offering remarkable performance. Finished in AMG Le Mans Red Metallic with a Red power-folding soft top over a two-tone Sand and Black designo leather interior, the Roadster is equipped with a hand-assembled 6.2-liter M159 dry-sump V8 engine rated at 563 hp.

To ensure the buying and selling process is as simple and safe as possible, the Hagerty Marketplace team does all the heavy lifting from pre-sale to post-sale logistics, including facilitating payment and transfer of ownership. Each buyer will provide a government-issued identification and credit card before bidding, ensuring that real enthusiasts are behind each bid.

More information on how to register to bid and sell on Hagerty Marketplace online auctions can be found at the website: Hagerty Marketplace.

Hagerty Marketplace also includes collector favorite Hagerty Valuation Tools®, which includes more than 15 years of pricing for 40,000 enthusiast cars, trucks, vans and motorcycles from the post-war era to present.

Photo Credits: Photos courtesy of Broad Arrow Group/Ryan Merrill

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)

Hagerty is an automotive lifestyle brand committed to saving driving and 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 69 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 750,000 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 https://www.hagerty.com/, or connect with us on Facebook, Instagram and Twitter. 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 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.  

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SOURCE Hagerty

FAQ

What is the Retro Motors Collection auction on Hagerty Marketplace?

The Retro Motors Collection auction on Hagerty Marketplace is the first private collection sale featuring over 30 collectible cars, starting May 15.

When does the Retro Motors Collection auction begin?

The auction begins on May 15 and will feature daily bids on selected cars.

What types of cars are included in the Retro Motors Collection?

The collection includes American muscle cars and high-powered European sports cars from various decades.

How can I participate in the Retro Motors Collection auction?

You can participate by registering on the Hagerty Marketplace website at hagerty.com/marketplace.

What significant cars are highlighted in the Retro Motors Collection auction?

Highlighted cars include a 2020 Chevrolet Corvette, a 2006 Ford GT, and a 2008 Ferrari F430 Spider.

Is the auction format rolling or fixed?

The auction is conducted in a rolling format, with different cars going live for bidding each day.