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BROAD ARROW TO HOST EXCLUSIVE BMW SALE AT CONCORSO D'ELEGANZA VILLA D'ESTE

1. Hagerty's Broad Arrow Auctions to host BMW-only auction on May 24. 2. The auction features 70 exceptional collector cars from BMW's history. 3. Notable cars include the 1958 BMW 507 and 1980 BMW M1. 4. Broad Arrow emphasizes its growth and heritage at prestigious events. 5. Broad Arrow expects high engagement from collectors at this event.

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Why Bullish?

The BMW auction showcases high-value cars, enhancing Hagerty's brand visibility and valuation. Past events show that celebrity involvement and rarities can significantly boost auction prices, positively impacting HGTY's market standing.

How important is it?

The auction's nature directly ties to Hagerty's core business of vehicle valuation and auctions, enhancing growth potential. Events showcasing rare cars typically attract positive market sentiments.

Why Short Term?

The event is immediate, with results influencing price and interest quickly. Previous auctions have led to instant market reactions in related stocks, indicating a similar potential for HGTY.

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London, United Kingdom, April 03, 2025 (GLOBE NEWSWIRE) -- BMW-only sale on 24 May celebrates history of BMW as hosts of revered ConcorsoBroad Arrow is the official auction partner of the Concorso d’Eleganza Villa d’Este, with sale set for 24-25 May at Villa Erba, Italy70 of the world’s finest automobiles will feature across the two-day auction Broad Arrow Auctions, a Hagerty (NYSE: HGTY) company, continues to add exceptional collector cars to the offering for its inaugural year as the official auction partner of the prestigious Concorso d’Eleganza Villa d’Este. Today, Broad Arrow is delighted to announce that a significant BMW-only sale will feature as part of its two-day Concorso d’Eleganza Villa d’Este auction. Taking place on the evening of Saturday 24 May, Broad Arrow’s BMW auction will celebrate the heritage of BMW as hosts of the revered Concorso. Early featured collector cars for the BMW-only auction represent halo cars for the marque across nearly 70 years of production. “It is a real honour for us to host a special auction to celebrate BMW and its legacy of hosting the famous Concorso d’Eleganza Villa d’Este,” said Joe Twyman, VP of Sales for the EMEA Region at Broad Arrow. “We have collated some of the very best cars from BMW’s illustrious history, including both classic and modern as well as iconic motorsport racers. Our evening sale adds a new dimension to the premier event in the concours world, and I am excited to present some of the most exceptional collector BMW cars available, with more soon to be announced.” Featured cars offered from private collectors at the BMW-only sale include: 1958 BMW 507 Series II Roadster (Estimate: €2.000.000 - €2.300.000) It is rare to come across a BMW 507 that was under original ownership for nearly its first half-century on the road. Yet this 507, chassis number 70127, can tell such a story. First registered to “Fa. W. Bartels jr.” of Braunschweig, Germany in 1958, it remained in the family for nearly half a century before they reluctantly parted with it. Subsequent owners lavished a great deal of attention on the 507, including a partial interior retrim and a fresh black soft-top. Its most recent owner purchased the car in 2018 and clearly saw great value in its exceptional originality, fastidiously maintained over the previous six decades, though he added just seven kilometres over seven years. This rare BMW 507 Series II Roadster is offered as a highly original example and is among the most collectible BMW models. Additionally, this sought-after and timeless mid-century sports car celebrates its 70th anniversary this year and is eligible for the most prestigious driving and concours d’elegance events worldwide. 1980 BMW M1 (Estimate: €450.000 - €550.000) BMW’s "M" division created the M1 as its first fully independent engineering project. Designed to compete with Porsche in Group 5 racing, the M1 featured a mid-engine layout, a tubular space frame chassis by Gianpaolo Dallara, and a striking wedge design by Giorgetto Giugiaro. Just 453 examples were made between 1978 and 1981, including road and racing versions, with the M1 playing a key role in the Procar BMW M1 Championship with drivers Niki Lauda and Nelson Piquet winning the first two seasons. One of only 71 road cars finished in red from new, this BMW M1 was originally delivered in Berlin to German record producer, Frank Farian. Producer for famous names such as Boney M and Meat Loaf, Farian commissioned BMW Motorsport to modify the bodywork to match that of the famous M1 Procars. This included a large rear wing and a front splitter, while the flared wheel arches allowed wider 16-inch BBS RS multipiece wheels. Additional upgrades performed by Farian included reupholstering the seats with full leather, and unsurprisingly, the car's sound system was upgraded with a Becker Mexico stereo, Clarion 150EQB graphic equaliser and additional speakers.   Farian owned the M1 for over a decade before selling it to an employee who kept it for the next 18 years when it found a new owner in Belgium. It returned to Germany in 2012 with a new owner and in 2020 it won the Owner’s Choice Award at the prestigious Salon Privé Concours in the U.K. Following this showing, the car was sold to its current caretaker and was taken to a noted specialist in Sweden for servicing and the paintwork was restored to its original red. On completion, it was displayed at the inaugural 2024 The Aurora Scandinavian Concours in Sweden.  This remarkable BMW M1 has covered just under 91,000 kilometres (56,000 miles), has known celebrity ownership, and benefits from period modifications by BMW Motorsport. 2000 BMW Z8 (Estimate: €200.000 - €225.000)  Inspired by the 1956 BMW 507, the Z8, introduced in the late 1990s, blended retro design with modern performance. Designed by Henrik Fisker, the Z8's styling incorporated nods to the 507, including a sculpted dashboard and front fender vents. Built on a bespoke aluminium chassis with a two-seat roadster body, it features the 4.9-litre V8 engine from the E39 BMW M5, producing 400 cv and 500 nm of torque. With a weight of 1,585 kg, the Z8 could accelerate from zero to 100 km/h in just 4.7 seconds, reaching a top speed of 250 km/h. Delivered new in Italy on 22 June 2001 by Autosport Brescia, this Z8 was specified in sleek Titanium Silver over a striking two-tone Sport Red and Black leather interior. Offered by just its third owner, the Z8 is in excellent condition, having covered just over 23,000 kilometres during its lifetime. 1981 BMW M1 (Estimate: €475.000 - €575.000) This M1 was completed on 30 January 1981, one of 11 M1s delivered new to the BMW importer in the United Arab Emirates. It was purchased by Vijay Mallya, co-founder of the Force India Formula One Team, with the digital history file showing it was first registered in the U.K. on 30 January 1989. It remained under Mallya's ownership and travelled with him to Dubai, then to the U.K. and on to Alaska in 2012 before returning to the U.K. in 2014. Having owned it for 29 years, he sold the car in 2016 to its current owner in the Netherlands. “These wonderful cars are just a taste of what is to come,” added Joe Twyman. “More fine examples from BMW’s wonderful history are soon to be announced.” Broad Arrow will conduct its inaugural European auction in partnership with BMW AG as the official auction partner of the Concorso d’Eleganza Villa d’Este. As a crown jewel in the concours world, Broad Arrow is excited to present 70 of the highest quality collector cars with a premium auction experience during the Concorso weekend on the shores of Lake Como. The current and continually updated catalogue for the Broad Arrow Concorso d’Eleganza Villa d’Este sale can be viewed here. Consignors interested in offering their exceptional motor car at The Concorso d’Eleganza Villa d’Este Auction at Villa Erba are invited to contact a Broad Arrow Car Specialist at +44 20 4592 0169 (UK/Europe) or on +1 313 312 0780 (North America) or via email at info@broadarrowauctions.com.  NOTE: The Broad Arrow BMW sale is an independent auction, offering consignments from private collectors. 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 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.  1958 BMW 507 Series II Roadster and 1981 BMW M1 1980 BMW M1 1958 BMW 507 Series II Roadster and 1981 BMW M1 The 1958 BMW 507 Series II Roadster and the 1981 BMW M1 offered from a private collection at Broad A... 1980 BMW M1 The 1980 BMW M1 offered at Broad Arrow's inaugural Concorso d'Eleganza Villa d'Este Auction (Credit ...

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