Broad Arrow Auctions, a Hagerty Company, Announces Partnership with BMW AG to Become the Official Auction Partner of The Concorso d’Eleganza Villa d’Este Beginning May 2025
26.11.2024 16:42:21 CET | GlobeNewswire by notified | Press release
Grosse Pointe, Michigan, Nov. 26, 2024 (GLOBE NEWSWIRE) -- Broad Arrow Auctions, a Hagerty (NYSE: HGTY) company, is thrilled to announce its partnership with BMW AG to become the official auction partner of the Concorso d’Eleganza Villa d’Este, starting in May 2025. As part of the Concorso d’Eleganza Villa d’Este event, Broad Arrow Auctions is expected to offer up to 70 of the highest quality collector cars for sale on the shores of Lake Como.
Founded in 1929, the Concorso d’Eleganza Villa d’Este is one of the world’s oldest and most esteemed concours d’elegance events. Hosted by BMW Group Classic and Grand Hotel Villa d'Este, Saturday’s tickets for the events at Villa d'Este are limited, while the parade of Historic Cars is open to the public on Sunday at Villa Erba. Broad Arrow’s auction will be held on Saturday, May 24, 2025 at Villa Erba.
“We could not think of a better, more prestigious location and partner to launch our first ever auction in Europe than the Concorso d’Eleganza Villa d’Este. We are grateful for our partnership with BMW as the official annual auction house of the Concorso d'Eleganza Villa d'Este, their choice speaks volumes to the proven track record of our team of specialists,” said Kenneth Ahn, President of Hagerty Marketplace and Broad Arrow Auctions. “As the crown jewel in the concours world, we are excited to present some of the most exceptional collector cars available with a premium auction experience next May and beyond.”
“We are happy to welcome Broad Arrow Auctions as the new auction partner of the Concorso d’Eleganza Villa d’Este,” says Helmut Käs, Head of BMW Group Classic and President of Concorso d’Eleganza Villa d’Este. “They will bring a large number of spectacular cars to be auctioned at the grounds of Villa Erba. With this, they will create a highlight for all visitors. We are looking forward to a rewarding partnership during the coming years.”
Broad Arrow Auctions makes its overseas live auction debut following successful annual North American sales, including the Monterey Jet Center Auction and The Amelia Auction, where Broad Arrow is the official auction house of The Amelia (Concours d’Elegance). At each of these auctions, Broad Arrow has seen rapid growth, continuing to increase total sales and the average value of cars sold year over year.
"It's an incredible honor to partner with one of the most internationally renowned concours, offering a world-class auction to complement what car lovers around the world recognize as one of the key moments every year,” added McKeel Hagerty, CEO and Chairman of Hagerty. “Broad Arrow’s presence at Villa Erba, as a part of the Concorso d'Eleganza Villa d’Este, builds upon our existing European efforts and provides us better ways to serve our global high net worth clientele and connect more meaningfully with automotive enthusiasts across the continent. I'm proud of what Broad Arrow has achieved in just three short years. They are paving the way for a whole new auction experience focused on the next generation of collectors.”
With this announcement, Broad Arrow formally launches its auction calendar overseas and continues to position itself as one of the fastest-growing global leaders in the collector car auction industry. Additional information on the auction will be available in the coming weeks at www.broadarrowauctions.com. Consignors interested in offering their exceptional motor car at The 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.
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