The Market


2024 Florida sales – Broad Arrow’s final day at The Amelia

2024 Florida sales – Broad Arrow’s final day at The Amelia 3rd March 2024

We might not have the final results in from the official auction of the Hagerty-owned concours until early next week, but we understand with after-sales the firm’s gross has now reached $58.9m at a sell-through of 90%. In 2023 that was $28.6m at 81%.

Observing for K500, Greg Ingold reports:

“Broad Arrow managed to pack the room again for a second day of sales. Either the high humidity outside or the line-up of cars in the Ritz Carlton ballroom attracted the crowds: for much of the time it was standing room only.

“Bidding veered between the lively and sleepy, making auctioneer Lydia Fenet’s job hard at times, but she got the job done.

“The big sale of the day was the Ford GT40 Mk I road car at $4,405,000 including fees. To those in the room the truly noteworthy transaction was the 1972 Ferrari 365 GTS/4 Daytona Spider, which fell a little short of Gooding’s result for a similar car on Thursday. It sold for $3,305,000.

“Broad Arrow's only big miss was the 1959 Porsche 718 RSK ‘Lucybelle III’, passed at a high bid of $3.2 million.”

At a glance (on the day, provisional):

* Gross, motor cars: $35,286,880
* Percentage sold by number: 90%
* Top-selling car: 1967 Ford GT40 $4,405,000 gross, $4,000,000 net (est. $4m to $5m)
* Well sold? In the literal sense: auctioneer Lydia Fenet used all her skills to get the 1953 Mercedes-Benz 300 S Roadster ($325k to $375k) over the line for $434,000. It was stuck around $100k at one stage.
* Well bought? The 1963 Ford Galaxie 500 NASCAR made a loud and smoky arrival on the stage late in the auction. It was bought for a good ’ol $70,000 against its $100k to $125k guide.

K500 understands notable after-sales – cars “Sold Beyond the Gavel” – include the Shelby 427 S/C Cobra, Ferrari 365 GTB/4 ‘Daytona’ and Dodge Firearrow.

Other results of note (all prices gross):

* 1988 Porsche 959 SC Reimagined by Canepa, $3,085,000. Fair figure to buy a car converted by the best in the business in the US.
* 1971 Porsche 914/6 GT Werks Monte Carlo Rally, Not Sold. Better offered by a specialist dealer.
* 1957 Mercedes-Benz 300 SL Roadster, $2,260,000. First of only four cars in Linden Green and carefully updated by owner using period-spec parts. Charming snapshot of passionate US 300 SL ownership
* 1982 Lancia Rallye 037 'Stradale', $588,000. Good result for a niche model that sometimes stalls at auction.
* 2002 BMW Z8, $201,600. Standard car in Stratos Grey with hardtop and stand.
* 1955 Mercedes-Benz 300 SL 'Gullwing', $1,545,000. Mostly matching numbers, with (original fit?) Rudge wheels presented in always-safe silver and original blue leather. Well bought.

Full published results with market analysis to follow…

Phots by Marcelo Murillo for K500