Broad Arrow’s 2024 Chattanooga auction

The 1941 song ‘Chattanooga Choo Choo’ was the first to be awarded a gold record, presented by RCA Victor in 1942 for sales of 1.2 million copies. Last Saturday, Hagerty offshoot Broad Arrow steamed into the county seat of Hamilton County, Tennessee, to hold an auction in conjunction with the Chattanooga Motorcar Festival. Regular Monterey Week auctioneer Lydia Fenet was at the rostrum.

Of the 91 cars offered, after two withdrawn, 75 found new owners: a sell-through by number of 82%. Prices achieved for the Porsche-heavy selection of entries were not so good; nearly two thirds sold below low estimate and only 8% beat top guide price.

At least six cars were moved on post-sale for undeclared values, an increasingly frequent happening these days. With these cars, the gross moved up to $12,265,520.

At a glance from published results:

* Gross, motor cars: $10,998,320 from published individual results (Broad Arrow declares $12,265,520 gross)
* Percentage sold by number: 82%
* Top-selling car: 1984 Porsche 911 SC RS Gruppe B ‘Evolutionsserie’ $2,000,000 gross, $1,800,000 net (est. £2.6m to $3.5m)

The top-selling car was a rare rally version of the 964-series 911 built by the factory to Gp. B rules. It had one competition outing at the 1984 Tour de Corse where it finished 14th overall.

Broad Arrow at the Chattanooga Motorcar Festival, 12 October 2023 – results

Total gross cars: $10,998,320 ($12,265,520 including cars sold after auction)
Number of cars not sold: 16
Number of cars withdrawn: 2
Total number of cars: 91
Number sold: 75
Percentage cars sold by number: 82%
Percentage by value average low/high estimate: 49%
Percentage of cars sold below low estimate: 61%
Percentage of cars sold not met avge of estimates: 76%
Percentage of cars sold met/exceeded top estimate: 8%
Average value of cars sold: $163,450 (including cars sold after auction)
Average year of cars offered: 1989
Percentage of cars offered at No Reserve: 49%

Photo by Broad Arrow