The George Foreman Collection is Live for Auction on Hagerty Marketplace: 52 Classic, Enthusiast, Muscle, and Sports Cars, All Offered Without Reserve and Available for Bidding Now

Rhea-AI Summary

HGTY: Hagerty, Inc. Announces Online Auction of George Foreman's Collection of 50+ Collector Cars on Hagerty Marketplace

Positive

• Hagerty, Inc. collaborates with George Foreman to auction his diverse collection of over 50 collector cars spanning every decade from the 1930s to present on Hagerty Marketplace, highlighting the platform's growing strength and reach.
• The collection includes standout examples such as a 2005 Ford GT with less than 790 miles, a 2000 BMW Z8 in a rare color combination, and a pair of modern Ferraris, adding significant value to the auction.
• Hagerty Marketplace offers extensive pre-sale and post-sale services, including payment facilitation and transfer of ownership, ensuring a simple and safe buying and selling process.

Negative

• The collection has been in long-term static storage, and certain vehicles have sustained corrosion due to a garage fire caused by a golf cart battery in March 2019, potentially affecting their value.
• Bidders are responsible for due diligence as all lots are sold as-is, which may pose a risk in terms of the condition of the vehicles.

TRAVERSE CITY, Mich., Nov. 15, 2023 /PRNewswire/ -- Hagerty, Inc. (NYSE: HGTY), the leading specialty vehicle insurance provider and auto enthusiast brand, announced the George Foreman Collection of more than 50 collector cars, spanning every decade of production from the 1930s through present, are now available for online auction through Hagerty Marketplace, a trusted, easy-to-use platform to buy and sell automobiles. The auction lots will close between December 11th and December 21st, with multiple cars ending each weekday. 

George Foreman, a former Olympic gold medalist and two-time heavyweight champion of the world, is best known for his prowess in the boxing ring, with his 76 wins in 81 fights with 68 by knockout. Today, the Hall of Famer still is the face of his eponymous franchise, the George Foreman Grill, which has sold more than 100 million units worldwide. Mr. Foreman also recently saw the release of his biopic major motion picture, Big George Foreman, this past summer.

Also an avid car collector, George Foreman said, "I have been a car collector and enthusiast most of my life, but the time has come for me to share my cars with other like-minded enthusiasts. Being able to offer them to the more than million-strong Hagerty audience is the best way to ensure they get the attention they deserve."

President of Hagerty Marketplace, Kenneth Ahn noted, "It is our pleasure to feature for auction the collection of Mr. George Foreman, former heavyweight boxing champion of the world, on Hagerty Marketplace. Our team has been working with Mr. Foreman to prepare each of the cars to be offered for auction, and we anticipate a strong interest and bidding for the cars on Hagerty Marketplace. The addition of the George Foreman Collection to the Hagerty Marketplace continues to highlight the growing strength and reach of our Marketplace platform."

The vehicles in The George Foreman Collection have been in long-term static storage and will benefit from additional mechanical attention prior to being driven. Bidders are encouraged to review the Additional Documents section of each lot for any recent mechanical service rendered to help return certain vehicles to running condition.

Additionally, bidders should carefully review the photos of each lot in the collection, which may highlight the corrosion of metal components certain vehicles sustained as the result of a garage fire caused by a golf cart battery in March 2019. Although none of the vehicles sustained fire damage from the fire itself, the cosmetic effects of the corrosive soot for certain vehicles can be observed in the detailed photo galleries of each lot and noted in the description. All lots are sold as-is, and bidders are encouraged to contact a Hagerty Marketplace car specialist and are responsible for due diligence before placing a bid.

Hagerty Marketplace Car Specialist Cason Vogel weighs in on the mixture of cars within the Foreman Collection, saying, "The Collection is certainly unique and diverse, with the earliest example being a 1931 Ford Model A Cabriolet A400 and one of the latest being a 2005 Ford GT. The more than 50 motor cars offered are highlighted with a plethora of marques, including Chevrolet, Chrysler, Ferrari, Dodge, Plymouth, BMW, Porsche, Rolls-Royce, Bentley, and Volkswagen.

Standout examples from the collection include the previously mentioned 2005 Ford GT, finished in Mark IV Red paintwork with Ebony Black leather interior and highlighted by all four options, including the painted calipers, McIntosh Stereo System, BBS lightweight aluminum wheels, and white painted racing stripes. Perhaps most impressively, the Ford shows less than 790 miles from new as a single-owner example.

Another highlight is the 2000 BMW Z8, a single-owner example owned by George Foreman since new and one of just 37 finished in Topaz Blue Metallic over a Crema and Black interior, one of the rarest color combinations produced. Meanwhile, a pair of modern Ferraris highlight the European cars of the George Foreman Collection and are showcased by the 2002 Ferrari 360 Modena and the 1987 Ferrari Testarossa.

To ensure the buying and selling process is as simple and safe as possible, the Hagerty Marketplace team provides extensive pre-sale and post-sale services, including facilitation of payment and transfer of ownership. 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.

About Hagerty, Inc. (NYSE: HGTY)

Hagerty is an automotive lifestyle brand committed to saving driving and 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 800,000 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 www.hagerty.com or connect with us on Facebook, Instagram, Twitter and LinkedIn.

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SOURCE Hagerty

FAQ

What is the George Foreman Collection of collector cars auctioned by Hagerty, Inc.?

The George Foreman Collection is a diverse assortment of more than 50 collector cars spanning every decade from the 1930s to present, including standout examples such as a 2005 Ford GT, a 2000 BMW Z8, and a pair of modern Ferraris.

Where can I find more information on how to register to bid and sell on Hagerty Marketplace online auctions?

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

What are the services provided by Hagerty Marketplace for buyers and sellers?

Hagerty Marketplace provides extensive pre-sale and post-sale services, including facilitation of payment and transfer of ownership, ensuring a simple and safe buying and selling process.