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Seminal 1948 Ferrari 166 Spyder Corsa Headlines Inaugural Broad Arrow Concorso d'Eleganza Villa d'Este Auction

1. Broad Arrow Auctions to auction rare 1948 Ferrari 166 Spyder Corsa. 2. The auction features a highly significant Ferrari with extensive provenance. 3. HGTY's auction house expands its influence by hosting this prestigious event. 4. Collector interest may drive higher bids, impacting HGTY's brand prestige. 5. The vehicle's auction value is estimated between €5.5M - €7.5M.

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Why Bullish?

The auction of a high-value collector car can enhance HGTY's market position, similar to historic successful auctions.

How important is it?

The article represents a significant event for HGTY, highlighting its role in the collector car market.

Why Short Term?

The immediate effects from the auction are likely to be felt shortly after, though long-term effects depend on overall sales performance.

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HGTY
Grosse Pointe, Michigan, Jan. 17, 2025 (GLOBE NEWSWIRE) -- Broad Arrow Auctions, a Hagerty (NYSE: HGTY) company, is thrilled to announce the consignment of what many consider to be one of the most original early Ferrari models extant to its inaugural Concorso d’Eleganza Villa d’Este Auction. Never before offered for public sale, the 1948 Ferrari 166 Spyder Corsa with Coachwork by Carrozzeria Ansaloni (Estimate: €5.500.000 - €7.500.000), is one of two examples purchased by the Besana brothers, Ferrari’s earliest customers. Notably, the Spyder Corsa on offer, chassis number 004 C, finished sixth overall at the 1948 Targa Florio and is a veteran of the 1948 and 1949 Mille Miglia races, while also boasting period Formula Two competition and hill climbs to its credit. Complete with Ferrari Classiche White Book certification with its original body, chassis, 2.0-liter V12 engine, and five-speed racing gearbox, it is further complemented by 50-year family ownership from 1965 to 2015 with multiple in-depth editorial pieces documenting its impressive provenance. The car has received numerous awards, including a 2004 Pebble Beach Concours d’Elegance class award in addition to being displayed at Pebble Beach within Casa Ferrari in 2019 and 2022. Further accolades include a Best of Show at the 2003 FCA National Meet, Cavallino and FCA Platinum Awards, and display as a feature car at the 2006 Cavallino Classic. “The 1948 Ferrari 166, with chassis 004 C, that we have the pleasure of presenting at our inaugural Concorso d’Eleganza Villa d’Este auction in May is undoubtedly one of the most significant examples of any early Ferrari built. With its outstanding provenance and long, well-documented history, we could not think of a more fitting and appropriate example to highlight our first Italian auction,” says Barney Ruprecht, VP of Auctions, Broad Arrow. “Chassis no. 004 C’s existence aptly represents the very building blocks of the legendary Ferrari brand and stands the test of time as a watershed example for the marque.” 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. Broad Arrow will welcome Thomas Forrester—one of the UK’s top auctioneers—to the Concorso d’Eleganza Villa d’Este podium this spring. Thomas has auctioneering in his blood and trained at both Phillips and Bonhams before launching his own Specialist Collectors Auctioneers more than 20 years ago, holding over 50 calendar auctions annually. Thomas also works around the world raising funds for international causes in the UK, Europe, the Middle East, and Asia, not least including the Royal Commonwealth Society at events attended by high commissioners, ambassadors, and royalty. Thomas previously took the sale at Broad Arrow’s successful inaugural Porsche Air|Water Auction in April 2024. Learn more about Thomas at broadarrowauctions.com. For additional information about this auction, including consignment information, bidder registration, and general inquiries, please email info@broadarrowauctions.com or call +44 2045 920 169. ____________________________ Photo Credits: All modern photography courtesy of Ryan Merrill/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. 1948 Ferrari 166 Spyder Corsa by Carrozzeria Ansaloni, Chassis No. 004 C 1948 Ferrari 166 Spyder Corsa by Carrozzeria Ansaloni, Chassis No. 004 C 1948 Ferrari 166 Spyder Corsa by Carrozzeria Ansaloni, Chassis No. 004 C Quite possibly the most original early Ferrari extant, a 1948 Ferrari 166 Spyder Corsa to be offered... 1948 Ferrari 166 Spyder Corsa by Carrozzeria Ansaloni, Chassis No. 004 C Quite possibly the most original early Ferrari extant, a 1948 Ferrari 166 Spyder Corsa to be offered...

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