Broad Arrow to Offer Ferrari 250 GT LWB California Spider Competizione at 2025 Amelia Auction

Ferrari Estimated to Bring $10-14 Million at March 7-8 Auction

Grosse Pointe, Michigan, Dec. 12, 2024 (GLOBE NEWSWIRE) -- Broad Arrow Auctions, a Hagerty (NYSE: HGTY) company, is thrilled to announce a 1959 Ferrari 250 GT LWB California Spider Competizione with coachwork by Scaglietti, chassis no. 1451 GT, to headline its third Amelia Auction on March 7-8, 2025. Arguably the most significant example in existence today, the car is estimated to bring $10,000,000 to $14,000,000 when it crosses the block at the Ritz-Carlton Amelia Island in Florida.

The second of only eight aluminum-bodied Ferrari 250 GT LWB California Spider Competizione examples ever produced, chassis no. 1451 GT boasts an impeccable Le Mans history and represents one of the most significant competition Ferraris extant. It is the first California Spider equipped from the factory with the competition-specification, outside-plug Type 128 F engine, among numerous other rare competition features including a Type 508 D ribbed gearbox, a 9.6:1 compression ratio resulting in 262.5 horsepower, an external oil cooler, stiffer suspension, and a long-range, 35-gallon fuel tank with an external fuel filler cap.

The car was completed on June 15, 1959, a mere five days before the 1959 24 Hours of Le Mans, where it was campaigned by Luigi Chinetti’s N.A.R.T. in the hands of its first owner, American car dealer and gentleman racer Robert “Bob” Grossman and co-driver Fernand Tavano. This hurried finish, nor the fact that it was Grossman’s first race at Le Mans, did not stop him from achieving the single most successful result in a 250 GT California Spider in competition, securing a remarkable fifth-place overall finish and third in the GT Class at Le Mans.

“This is the crown jewel of all open Ferraris and arguably the gold standard of desirability for any road-going collectible convertible,” says Barney Ruprecht, VP of Auctions, Broad Arrow. “Chassis no. 1451 GT’s existence helps define the very essence of what makes the 250 GT California Spider so revered—a car equally capable of securing podium finishes at Le Mans and best-in-show awards on the world’s most exclusive show fields. The car’s stand-alone significance and combination of Le Mans and U.S. racing history make it a perfect fit for The Amelia weekend at the racer’s concours.”

Following its racing debut, the Spider returned to the factory where it was finished properly in metallic silver, a livery it still wears today. The car was then imported to the United States, where it saw extensive racing success with Grossman throughout 1959 and 1960. Under subsequent ownership, the car’s dual-purpose nature was particularly evident, seeing successful historic racing and rallying outings as well as strong presence on the concours circuit, making appearances at the Pebble Beach Concours d’Elegance in the 1980s, 1990s, 2010s, and in 2024.

Today, this 1959 Ferrari 250 GT LWB California Spider stands as the definitive example of Ferrari’s legendary dual-purpose sports car. Few Ferraris of any era can match chassis 1451 GT's combination of period racing success and continued significance in concours venues. The car's exceptional status is furthered by its remarkable preservation of original components through multiple carefully considered restorations, as confirmed by its Ferrari Classiche certification.

Beyond being one of the most valuable cars offered in Amelia Island auction week history, the California Spider is the most valuable car that Broad Arrow has offered at auction to date. Interested bidders are invited to learn more at broadarrowauctions.com and contact a Broad Arrow car specialist at +1 313 312 0780. Broad Arrow is inviting consignments for limited remaining opportunities at its 2025 Amelia Auction. Additional information on selling with Broad Arrow is also available at broadarrowauctions.com.

###

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 850,000 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.

Attachments

• 1959 Ferrari 250 GT LWB California Spider Competizione
• 1959 Ferrari 250 GT LWB Scaglietti California Spider Competizione at the 1959 24 Hours of Le Mans