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Broad Arrow Releases Video Featuring Ferrari 250 GT LWB California Spider Competizione Drive Head of Amelia Auction

1. Hagerty's Broad Arrow Auctions features a $10M Ferrari at Amelia Auction. 2. The 1959 Ferrari 250 GT Competizione is rare and historically significant. 3. Broad Arrow Auctions is expanding and launching in Europe by May 2025. 4. The auction will host 169 lots, including high-value cars and collectibles. 5. Hagerty emphasizes its commitment to the automotive enthusiast community.

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Why Bullish?

The auction's spotlight on high-value cars like the Ferrari boosts Hagerty's brand prominence, similar to successful auctions in the past that have positively influenced stock prices for firms in collector car markets.

How important is it?

The article highlights a significant auction event, which can drive interest and potential sales for Hagerty, leading to long-term positive impact.

Why Long Term?

Ongoing success and expansion of Broad Arrow will enhance Hagerty’s market position over time, similar to how successful auction houses have increased their valuation over years.

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Grosse Pointe, Michigan, March 03, 2025 (GLOBE NEWSWIRE) -- Broad Arrow Auctions, a Hagerty (NYSE: HGTY) company, has released a video of the revered 1959 Ferrari 250 GT LWB California Spider Competizione, chassis no. 1451 GT, at speed ahead of its offering at the Amelia Auction later this week. The short film features Broad Arrow Senior Car Specialist and Vice-President of Auctions, Barney Ruprecht, walking through the finer competition history and features of the car before he jumps behind the wheel, providing driving impressions of the Competizione variant over a standard California Spider. Estimated at $10,000,000 - $14,000,000, the Ferrari is the undisputed feature car of Broad Arrow’s upcoming Amelia Auction on March 7-8 at the Ritz-Carlton Amelia Island. Introducing the car in the film, Ruprecht states, “One of only 10 Competiziones, this is the full fat version, so to speak, with all of the features: competition motor, [aluminum body], stiffer suspension, outside filler tank, 36-gallon long-range fuel tank. Everything about it is optimized for racing, and racing it did, finishing a 5th overall at the 24 Hours of Le Mans." The second of only eight aluminum-bodied Ferrari 250 GT LWB California Spider Competiziones (10 Competizione examples total), chassis no. 1451 GT achieved a remarkable 5th overall, capturing a GT class podium at the 1959 24 Hours of Le Mans with its first owner, Bob Grossman. Extensive racing success followed the pair to the United States throughout 1959 and 1960. Presented in its original silver metallic Le Mans livery, it is the first California Spider equipped from the factory with the competition-specification, outside-plug Type 128 F engine, among numerous other competition features. Offered with Ferrari Classiche certification and as a three-time Pebble Beach Concours d'Elegance participant, it is arguably the most significant 250 GT California Spider in existence. Behind the wheel for a spirited drive, Ruprecht continues, “So what is it like to drive one of 10 Competizione California Spiders? Initial impressions are, it’s dominated by one thing and one thing only—the engine. Dramatically different to a standard California—the noise, the smell, the handling, the brakes even, everything here is set up for competition.” The 1959 Ferrari 250 GT LWB California Spider Competizione is set to be offered on day two of Broad Arrow’s Amelia Auction on Saturday, March 8. The California Spider leads 169 desirable lots on offer at The Amelia Auction on Friday afternoon and Saturday morning (166 cars, 2 tractors, and 1 child’s go-kart), ranging from pre-war coachbuilt classics to motorsport icons, supercars, RADwood-era modern classics, and more. More than half of the catalog is offered without reserve. Additional featured highlights include: Further legends of motorsport across all categories, including a 1954 Jaguar D-Type Works Competition “OKV 2” (Estimate: $6,500,000 - $8,500,000, offered without reserve), a 1960 Chevrolet Corvette 283/290 “Fuelie” Camoradi USA Factory Race Car (Estimate: $1,000,000 - $1,300,000), and a 1975 Lancia Stratos HF Stradale (Estimate: $575,000 - $650,000).A host of sought-after supercars from the collector car hobby’s top marques, led by a 1971 Lamborghini Miura P400 SV (Estimate: $4,500,000 - $5,000,000), a 1990 Ferrari F40 (Estimate: $3,800,000 - $4,200,000), and a 2015 Porsche 918 Spyder (Estimate: $2,250,000 - $2,400,000).A group of AMG-modified Mercedes-Benz models from the 1980s and 1990s, which have developed an increasing following in the collector car market in recent years. The group is led by a 1986 Mercedes-Benz 500 SEC AMG 6.0 "Wide-Body" (Estimate: $500,000 - $600,000) and a 1990 Mercedes-Benz 560 SEL AMG 6.0 (Estimate: $300,000 - $350,000).A colorful curation of best-of-category Lamborghini Countach and Diablo examples, including a Rosso Targa over Crema 1999 Lamborghini Diablo VT Roadster (Estimate: $650,000 - $750,000) and a Giallo Fly over Dark Brown 1987 Lamborghini Countach 5000 QV (Estimate: $550,000 - $650,000).A lineup of bespoke modern performance Ferraris, led by a 2019 Ferrari 488 Pista “Piloti Ferrari” (Estimate: $775,000 - $900,000) and a 2014 Ferrari 458 Speciale (Estimate: $650,000 - $750,000). The complete Amelia Auction digital catalog, full event details, and information on bidder registration is available at broadarrowauctions.com. Interested bidders are invited to speak with a Broad Arrow car specialist or a member of our client services team at +1 313 312 0780. ________________________________________________________________________________________________________ Photo Credits: All stills from film are by Halcyon Photo / Courtesy of Broad Arrow Auctions. 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 865,000 who can’t get enough of cars. For more information, please visit www.hagerty.com or connect with us on Facebook, Instagram, Twitter 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 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 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. The 1959 Ferrari 250 GT LWB California Spider Competizione on the road ahead of Amelia Auction Senior Car Specialist and VP of Auctions for Broad Arrow, Barney Ruprecht, behind the wheel of the Ferrari 250 GT LWB California Spider Competizione The 1959 Ferrari 250 GT LWB California Spider Competizione on the road ahead of Amelia Auction A screen capture from Broad Arrow's just-released film on the Ferrari 250 GT LWB California Spider C... Senior Car Specialist and VP of Auctions for Broad Arrow, Barney Ruprecht, behind the wheel of the F... A screen capture from Broad Arrow's just-released film on the Ferrari 250 GT LWB California Spider C...

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