Broad Arrow Auctions Announces Partnership with the Chattanooga Motorcar Festival, Will Host Collector Car Auction Alongside Festival Programming for 2024
July 09 2024 - 10:54AM
Broad Arrow Auctions, a Hagerty (NYSE: HGTY) company, is thrilled
to announce the addition of a fourth and final U.S.-based auction
for the 2024 calendar year that will see approximately 100
collector cars crossing the block as part of the 2024 Chattanooga
Motorcar Festival. The partnership unites the fast-growing Motoring
Festival, now in its fifth year, alongside a Broad Arrow boutique
auction set to feature a wide array of collector cars on October
12, 2024.
Kenneth Ahn, President of Hagerty Marketplace and Broad
Arrow, states, “We are thrilled by the opportunity to be working
with the Chattanooga Motorcar Festival, its founder Byron DeFoor,
and his talented team. Chattanooga, Tennessee is a tremendous
backdrop to hold our auction, and we could not be more pleased to
partner with the Chattanooga Motorcar Festival to support the
Neuroscience Innovation Foundation, raising funds and awareness for
a worthy cause, while shining a light on the exciting developments
in downtown Chattanooga.”
Byron DeFoor, Founder of the Chattanooga Motorcar
Festival states, “It gives me great pleasure to welcome my
automotive enthusiast friends to our beautiful city each October
and this year, we could not be more pleased to welcome Broad Arrow
and Hagerty to be an integral part of the event and witness the
transformation that our city undergoes in preparation for the
festivities. I am equally proud that our event will again benefit
the Neuroscience Innovation Foundation (NIF). I am humbled by the
opportunity to not only support such worthy causes but to do so
through the collector car community. We look forward to welcoming
everyone to our wonderful city this October 11-13 for an exciting
weekend of activities.”
Donnie Gould, Senior Car Specialist, states, “Chattanooga
has long been a key location in the car collecting world and there
are a number of significant collectors and collections located in
the region with whom we have very strong relationships. Notably,
Chattanooga is only a day’s drive away from nearly 80% of the
continental US population, so it sits virtually at the epicenter of
so many population hubs. We are delighted to support their passion
in the region and an outstanding motorcar festival and concours by
assembling a roster of cars of interest to our core global
clientele. Even now, as we announce the auction, we expect
consignment interest to be quite strong.”
For consignment inquiries or for more information on this
exciting auction please visit our website at
www.broadarrowauctions.com for additional event details. Next
on the Broad Arrow Auctions calendar is the Monterey Jet
Center Auction being held this August 14-15 alongside Motorlux at
the Monterey Jet Center. The company is also pleased to announce a
date change for this year’s Monterey auction as, for the first
time, the Hagerty Motorlux event will serve as the backdrop for a
selected offering of approximately 40 cars to be auctioned on
Wednesday evening, the 14th, with the auction beginning at 5:30 pm.
The auction will continue Thursday, the 15th with the sale
beginning at 3:00 pm. Please visit the Broad
Arrow website for additional information on the upcoming
auction. To purchase Motorlux tickets directly, please visit the
Motorlux website.
About Broad Arrow, a Hagerty Company - Broad Arrow, a
Hagerty (NYSE: HGTY) company, is an advisor, market maker, and
financier for car collectors with a commitment to integrity, trust,
and innovation. Broad Arrow operates Broad Arrow Auctions, Broad
Arrow Capital, and Broad Arrow Private Sales (formerly Collectors
Garage) and is headquartered in Grosse Pointe, Michigan. For
more information, please visit connect with us on Facebook,
Instagram, Twitter and LinkedIn.
About Hagerty, Inc. (NYSE: HGTY) - Hagerty is an
automotive enthusiast brand committed to saving driving and 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 UK and is home to Hagerty Drivers Club,
a community of more than 800,000 who can't get enough of cars. As a
purpose-driven organization, Hagerty Impact aims to be a catalyst
for positive change across the issues that matter most to our
teams, our members, the broader automotive community, our
shareholders and the planet at large. For more information, please
visit www.hagerty.com or connect with us
on Facebook, Instagram, Twitter, LinkedIn,
and YouTube.
About Chattanooga Motorcar Festival - Proceeds from
the Chattanooga Motorcar Festival support neuroscience research
through Fifty Plus Foundation, Inc. Approaching 13 years of
supporting Alzheimer’s and neuroscience research, Fifty Plus
Foundation created the Chattanooga Motorcar Festival to bring both
local and global support to back research that is already making a
difference in saving lives. Learn more at
chattanoogamotorcar.com.
Press materials can be found at newsroom.hagerty.com.
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.
- Photo Courtesy of Broad Arrow Auctions
- Photo Courtesy of The Chattanooga Motorcar Festival
Ian Kelleher
Broad Arrow Auctions
917-971-4008
ian.kelleher@broadarrowgroup.com