Broad Arrow Auctions Totals $71.5m in Monterey

Broad Arrow’s annual Monterey auction returned to the Monterey Jet Center on August 14 and 15 with a wide selection of classic and sports cars on offer. In total, the company achieved $71.5m in sales, with 85% of the lots selling to new homes.

The high sale of the event was a 1997 Porsche 911 GT1 Rennversion — one of 9 such cars built by Porsche — sold for $7,045,000.

Broad Arrow claimed five new world records at this event, including a 1998 RUF CTR 2 that set a new high water mark for the make at $2,095,000.

“We would like to thank the guests who joined our third annual Motorlux event and auction at the Monterey Jet Center. We had record attendance with 42% of bidders registering to bid with Broad Arrow for the first time,” said Kenneth Ahn, President of Hagerty Marketplace and Broad Arrow. “Auction results during Monterey Car Week showed a greater bifurcation in the market, especially at the $1 million-plus level – more collectors were on the sidelines for $1 million-plus cars compared to recent years, but others engaged and bid actively, especially for more modern, next-generation enthusiast cars.”

“Broad Arrow serves a wide range of collecting interests; however, our catalog curation is decidedly ‘younger’ than many of our competitors, a reflection of both the shifting tastes of the next generation of collectors and the expertise of our unmatched team of specialists,” said Barney Ruprecht, Vice-President of Auctions for Broad Arrow. “Modern and ‘youngtimer’ cars taking center stage in the highest auction realm is no longer just a trend but is backed by a defined collecting base. Broad Arrow’s success in this segment, including our market leadership of marques like Porsche and RUF, is well-illustrated by our Monterey auction results and beyond.”

Broad Arrow Auctions Monterey 2024 Top Ten Sales

1. Lot 275, 1997 Porsche 911 GT1 Rennversion,$7,045,000

2. Lot 147, 2003 Ferrari Enzo, SOLD AFTER AUCTION

3. Lot 243, 1957 Maserati 200Si by Fantuzzi, SOLD AFTER AUCTION

4. Lot 127, 1972 Lamborghini Miura P400 SV, $2,700,000

5. Lot 236, 1965 Ferrari 275 GTB, $2,535,000

6. Lot 121, 2015 Porsche 918 Spyder Weissach Package, $2,480,000

7. Lot 151, 1990 Ferrari F40, $2,425,000

8. Lot 130, 1998 RUF CTR 2, $2,095,000

9. Lot 257, 1988 Porsche 959 Komfort, SOLD AFTER AUCTION

10. Lot 114, 1998 RUF Turbo R Limited, $1,710,000

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