Broad Arrow celebrates record-breaking growth in 2024 with $316 million in collector car transactions and plans European expansion for 2025.
In just its third year of operation, Broad Arrow, a Hagerty company, achieved $316 million in transactions across auctions, private sales, and financing in 2024, representing a remarkable 75% year-over-year growth compared to 2023. This milestone comes despite challenging conditions in the collector car market and underscores Broad Arrow's position as a rising leader in the industry.
“Our 2024 success reflects the trust and enthusiasm of our global clients and car enthusiasts,” said Kenneth Ahn, President of Broad Arrow and Hagerty Marketplace. “As tastes evolve, we’ve curated offerings for both established and younger collectors, which contributed to 50% growth in auction sales and a significant increase in private sales and financing.”
Broad Arrow Auctions recorded $164 million in sales with a 92% sell-through rate across live and online memorabilia auctions. The top auction sale of 2024 was a 1997 Porsche 911 GT1 Rennversion, which achieved $7,045,000 at the flagship Monterey Auction. Other notable sales included a 1967 Ford GT40 ($4,405,000) and a 2022 Bugatti Chiron Pur Sport ($4,047,500).
The company hosted innovative events, such as a Porsche-themed auction in partnership with Air|Water, contributing to $15.6 million in sales. Additionally, their Motorlux Auction in Monterey brought in $71.5 million, significantly surpassing 2023 results. Broad Arrow Auctions also expanded its reach, with bidders participating from 37 countries and a 43% growth in registered bidders compared to the previous year.
Broad Arrow Private Sales facilitated $67 million in transactions, including iconic models such as a 1989 RUF CTR "Yellowbird" Lightweight and a 1972 Lamborghini Miura P400 SV. With an average sale price of $785,000, the division offered personalized services for buying and selling outside the auction format.
Broad Arrow Capital provided approximately $84 million in tailored financing, helping clients in the U.S., UK, and Europe acquire collector cars. The financing arm has positioned itself as a trusted partner for securing high-value transactions.
Looking ahead, Broad Arrow plans to expand into Europe in 2025, starting with its debut live auction at the prestigious Concorso d’Eleganza Villa d’Este in partnership with BMW AG. This marks a significant step in Broad Arrow’s journey to becoming a global leader in the collector car market.
With a strong foundation, record-breaking growth, and a focus on innovation, Broad Arrow is set to continue redefining the collector car industry in 2025 and beyond. Learn more about upcoming events and offerings at broadarrowauctions.com.
