StockNews.AI
HGTY
StockNews.AI
112 days

RUF CTR YELLOWBIRD LEADS BROAD ARROW'S $15.3 MILLION PORSCHE AIR|WATER AUCTION

1. Hagerty's auction unit, Broad Arrow, achieved $15.3 million in sales. 2. 76% of lots sold, showing strong collector interest in rare Porsches. 3. Top sale was a 1989 RUF CTR Yellowbird, fetching $4.68 million. 4. Upcoming European auction set for May 2025, expanding global reach. 5. Overall market demand for high-end collector cars remains strong.

12m saved
Insight
Article

FAQ

Why Bullish?

Strong auction sales can positively influence investor sentiment towards HGTY. Historical trends show that robust results in auction markets have led to favorable price movements in associated stocks, like during RM Sotheby’s recent record sales boosting their stock prices significantly.

How important is it?

The successful auction results directly showcase Hagerty's growing influence and financial stability, indicating solid performance in luxury segments that can attract investment. The growing passion for collectible cars reflects positively on brands associated with them.

Why Short Term?

Immediate market reactions to sales figures can impact stock performance quickly. Short-term gains in interest and investment are likely as results are fresh and lead to heightened trading activity.

Related Companies

RMCMACOO
Grosse Pointe, Michigan, April 29, 2025 (GLOBE NEWSWIRE) -- Broad Arrow Auctions, a Hagerty (NYSE: HGTY) company, saw strong results at its second annual Porsche Auction in partnership with Air|Water on April 26 at The Hangar at the OC Fairgrounds in Costa Mesa, California. The all-Porsche auction totaled $15.3 million in sales, with 76 percent of all lots sold. A passion for Porsche drew thousands of attendees and bidders, as Broad Arrow Auctioneer Thomas Forrester conducted several bidding contests across the nearly four-hour sale. The top sale of the Porsche Air|Water Auction was an exceptional 1989 RUF CTR Yellowbird, chassis no. 023, one of a mere 29 W09 Group C Turbo Ruf (CTR) Yellowbirds built and the singular example specified with a lightweight interior. As the fastest production car at the time of its introduction, the Yellowbird is equipped with a 3.4-liter twin-turbocharged flat-six engine with a RUF six-speed manual transmission producing 469 horsepower and capable of a 213-mph top speed. A truly important modern collector car, the RUF CTR Yellowbird saw strong bidding from the opening bid, eventually selling for a final $4,680,000. “We had a fantastic weekend at Air|Water once again this year,” said Alexander Weaver, Senior Car Specialist and Vice-President of Private Sales for Broad Arrow following the auction. “There was strong attendance and bustling energy throughout the sale, and the results prove market demand for very special, exceedingly rare Porsches. The RUF CTR Yellowbird is a fantastic example of the ultimate collector car for a new generation, the 918 Spyder is the rarest of rare with the most desirable options available, and the 906 is an incredibly good-looking, pedigreed, and well-preserved competition car from a golden age of Porsche racing prototypes. We’re grateful to our bidders, consignors, and our partners at Air|Water, and we look forward to continuing to bring the best-of-the-best Porsches to market throughout the year.” The top 10 cars sold at Broad Arrow’s 2025 Porsche Air|Water Auction point to collector passion across the full spectrum of Porsche lineage with representation from every decade from the 1960s through today. The 1966 Porsche 906, 1990 Porsche 911 Reimagined by Singer, 1994 Porsche 911 Turbo 3.6 X88, 1960 Porsche 356 B Super 90 Zagato Coupe "Sanction Lost", and the 2019 Porsche 911 Speedster in Lava Orange all ignited spirited bidding contests between parties in the room and on the phones and internet. Broad Arrow Auctions Porsche Air|Water 2025 - Top 10 Sales 1.              Lot 243  1989 RUF CTR Yellowbird - $4,680,000 2.              Lot 225  2015 Porsche 918 Spyder Weissach Martini Racing - $2,590,000 3.              Lot 232  1966 Porsche 906 - $1,528,500 4.              Lot 220  1990 Porsche 911 Coupe Reimagined by Singer - $1,006,000 5.              Lot 224  1994 Porsche 911 Turbo 3.6 X88 - $555,000 6.              Lot 238  2019 Porsche 911 Speedster - $461,500 7.              Lot 217  2003 Porsche 911 GT3 RS Yankees - Orbit Racing - $445,000 8.              Lot 228  1960 Porsche 356 B Super 90 Zagato Coupe "Sanction Lost" - $445,000 9.              Lot 227  1974 Porsche 911 Carrera MFI Coupe - $329,500 10.           Lot 231  1989 Porsche 911 Speedster - $282,750 Complete results from Broad Arrow’s 2025 Porsche Air|Water Auction are available at broadarrowauctions.com. Upcoming Auctions Broad Arrow Auctions will continue its 2025 calendar with the Spring Memorabilia Online Auction, an outstanding sale of more than 130 lots of desirable motorsport memorabilia—offered entirely without reserve. The European-based online auction features iconic helmets, most of which have been used in Formula One by well-known drivers such as Mika Häkkinen, Jean Alesi, Charles Leclerc, and more. The sale also includes a Dario Franchitti racing kit and helmet that the champion driver is offering with all proceeds to benefit Sir Jackie Stewart’s Race Against Dementia charity. Bidding is now open until May 4 at broadarrowauctions.com. On May 24-25, Broad Arrow will host its debut auction in Europe as the official auction house of the prestigious Concorso d’Eleganza Villa d’Este. The inaugural sale will present more than 70 of the hobby’s most desirable collector cars across all categories on the stunning shores of Lake Como, including a dedicated BMW-only sale on the evening of Saturday, May 24. Final headlining entries and the complete digital catalog for the Concorso d’Eleganza Villa d’Este Auction will be announced this week. Bidder registration and additional event details are available at broadarrowauctions.com. From one Porsche to another, Broad Arrow also displayed an early highlight for its flagship annual Monterey Jet Center Auction at the Air|Water event this past weekend. An exceedingly rare lightweight 1957 Porsche 356 A Carrera GT, chassis no. 100913, is set for the August 13-14 auction with a pre-sale estimate of $900,000 - $1,200,000. Factory-built for competition use, the matching-numbers car retains its original factory-installed four-cam engine, its original numbered bodywork, and was factory-equipped with an alloy hood, engine lid, doors, and bumpers, bucket seats, and Plexiglas windows. Campaigned by “The Flying Dentist”, SCCA Champion Dr. Dick Thompson when new, the car won its class as a factory entry at the 1958 12 Hours of Sebring at the hands of “der Rennbaron” Huschke Von Hanstein and longtime factory racer Herbert Linge. Wearing a multi-award-winning restoration completed in 2021, the extensively documented artifact is offered with a copy of its factory Kardex and Porsche Certificate of Authenticity. Learn more about the Monterey Jet Center Auction, now inviting consignments, at broadarrowauctions.com. NOTE: All prices are listed in USD and include buyer’s premium, which is equal to the sum of twelve percent (12%) of the first $250,000 of the Hammer Price and ten percent (10%) of the amount by which the Hammer Price exceeds $250,000 for all motor car lots.  For non-motor car lots, Buyer’s Premium is equal to twenty-five (25) percent of the Hammer Price. Results include lots sold privately immediately following the auction. Editors Notes  Photo Captions and Credit – All images by Robin Adams / Courtesy of Broad Arrow Auctions. The top-selling RUF CTR Yellowbird and Porsche 918 Spyder Weissach greet attendees at Broad Arrow's 2025 Porsche Air|Water Auction.The bustling crowd during Broad Arrow's 2025 Porsche Air|Water Auction in Costa Mesa, California.Broad Arrow Auctions COO, Alain Squindo, and Broad Arrow Auctioneer, Thomas Forrester, take the sale at Broad Arrow’s 2025 Porsche Air|Water Auction.The Porsche 906 shines on display at Broad Arrow’s Porsche Air|Water Auction preview on April 25.The 1957 Porsche 356 A Carrera GT, an early highlight for Broad Arrow’s 2025 Monterey Jet Center Auction, on display at the Porsche Air|Water Auction. 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.  The top-selling RUF CTR Yellowbird and Porsche 918 Spyder Weissach greet attendees at Broad Arrow's 2025 Porsche Air|Water Auction The bustling crowd during Broad Arrow's 2025 Porsche Air|Water Auction in Costa Mesa, California The top-selling RUF CTR Yellowbird and Porsche 918 Spyder Weissach greet attendees at Broad Arrow's ... Credit - Robin Adams / Courtesy of Broad Arrow Auctions The bustling crowd during Broad Arrow's 2025 Porsche Air|Water Auction in Costa Mesa, California Credit - Robin Adams / Courtesy of Broad Arrow Auctions

Related News