Hagerty Marketplace Launches Online Auctions with 10-Car Capsule Sale

2019 Ford GT Highlights Grouping of Enthusiast Cars from Nineteen Sixties to Modern Era

TRAVERSE CITY, Mich., Nov. 3, 2022 /PRNewswire/ — Hagerty, Inc., (NYSE: HGTY) an automotive life-style model and a number one specialty insurance supplier, immediately launched Hagerty Marketplace on-line auctions which permits members and fanatics to purchase and promote cars by a trusted, easy-to-use platform. The addition of on-line auctions builds upon Hagerty’s development technique and helps increase its present Marketplace business which incorporates labeled choices, Hagerty Valuation Tools^® and DriveShare^™ companies.

To make sure the shopping for and promoting course of is as easy and protected as potential, the Hagerty Marketplace crew does all of the heavy lifting. Each vendor will work with an skilled Hagerty Marketplace public sale crew member, who will present help with pre-sale and post-sale logistics, together with facilitating cost and switch of possession. Each purchaser will present a government-issued identification and bank card earlier than bidding, guaranteeing that actual fanatics are behind every bid.

Auctions stay immediately embody fanatic autos from a variety of eras and typologies together with a 2019 Ford GT, 1963 Ford Fairlane Squire Wagon, 2000 Mercedes-Benz E55 AMG, and 1992 Porsche 968 Cabriolet.

“Over the past few years, the collector car industry has seen exceptional growth in demand for online car auctions, driven by the convenience of bidding from practically anywhere,” mentioned Kenneth Ahn, President of Hagerty Marketplace. “But when car collectors are buying and selling five, six, or seven-figure cars online, we believe there are areas for significant improvement over the status quo. Our goal is to provide an online auction platform that is differentiated by trust, with unparalleled level of service and data-driven expertise. We are excited to launch Hagerty’s Marketplace online auctions and we are committed to continuing to innovate and grow along with this emerging market.”

In the 12 months ending June 30, 2022, Hagerty noticed its members purchase and promote greater than 300,000 collectible vehicles for practically $12 billion in worth. Following Hagerty’s acquisition of Broad Arrow Group – an public sale, non-public gross sales, and asset-based financing specialist – in August of 2022, the brand new Marketplace on-line auctions will additional increase Hagerty’s ecosystem of services and products to higher serve the huge neighborhood of automotive collectors and fanatics around the globe.

Broad Arrow Group made their stay public sale debut in August at Monterey Car Week with $55.3 million in gross sales and followed-up with October’s sale of the Jim Taylor collection which saw $21.3 million in sales. Broad Arrow’s crew will work in tandem with Hagerty Marketplace on-line auctions, to supply extra choices and alternatives for automotive collectors and fanatics to purchase and promote collectible vehicles.

More info on the way to register to bid and promote on Hagerty Marketplace on-line auctions will be discovered on the web site: Hagerty Marketplace.

Hagerty Marketplace additionally consists of collector favourite Hagerty Valuation Tools^®, which incorporates greater than 15 years of pricing for 40,000 fanatic vehicles, vehicles, vans and bikes from the post-war period to current.

Based in Based in Traverse City, Michigan, Hagerty’s function is to avoid wasting driving and automotive tradition for future generations and its mission is to construct a worldwide business to fund that function. Hagerty is an automotive fanatic model providing built-in membership merchandise and applications in addition to a specialty insurance supplier targeted on the worldwide automotive fanatic market. Hagerty is residence to Hagerty Marketplace, Hagerty Drivers Club^®, Hagerty Drivers Club journal, Hagerty Drivers Foundation, Hagerty DriveShare^™, Hagerty Valuation Tools^®, Hagerty Media, MotorsportReg, Hagerty Garage + Social^®, The Amelia, the Detroit Concours d’Elegance, the Greenwich Concours d’Elegance, the California Mille, Motorlux, RADwood, Broad Arrow Group and extra. For extra info on Hagerty please go to www.hagerty.com, or join with us on Facebook, Instagram and Twitter.

More info will be discovered at newsroom.hagerty.com.

Forward-Looking Statements

This press launch accommodates forward-looking statements throughout the that means of the Private Securities Litigation Reform Act of 1995. These statements replicate our present intentions, expectations, or beliefs concerning the business. Because forward-looking statements relate to the long run, they’re topic to inherent dangers and uncertainties which are troublesome to foretell and could also be exterior of our management. Some of the components which will trigger our precise outcomes to vary materially from these contemplated by our forward-looking statements embody: (i) our means to acknowledge the anticipated advantages of the topic of this press launch; (ii) our means to compete successfully inside our trade and entice and retain members; and (iii) the opposite dangers and uncertainties listed in our Form 10-Okay filed with the U.S. Securities and Exchange Commission (“SEC”) on March 24, 2022. This press launch needs to be learn in conjunction with the data included in our different press releases, reviews, and different filings with the SEC. Understanding the data contained in these filings is necessary so as to totally perceive our reported monetary outcomes and our business outlook for future durations. We don’t undertake any obligation to publicly replace or evaluate any forward-looking assertion, whether or not because of new info, future developments, or in any other case, besides as required by legislation.  

SOURCE Hagerty