Grosse Pointe, Michigan, July 16, 2024 (GLOBE NEWSWIRE) -- Broad Arrow Auctions, a Hagerty (NYSE: HGTY) company, is thrilled to announce it will present a true titan of motorsport and one of the most collectible of all Porsches extant, the 1997 Porsche 911 GT1 Rennversion, estimated at $8,500,000 - $10,500,000. Chassis 993-GT1-108 is one of just nine customer GT1s originally made and notably, the GT1 is offered directly from long-term private ownership where it has been in the hands of an esteemed Porsche collector for some time. Also of note, it was never severely damaged or dismantled and today remains in superbly presented condition. 

Jakob Greisen, Senior Car Specialist for Broad Arrow Auctions states, “We are thrilled to have been entrusted with the sale of this spectacular part of Porsche history, offered from one of the best curated private Porsche collections in the world. This particular GT1 is an incredibly impressive example, not just because of its successful race history but also because it has lived a life mostly spared from serios damage or drama and it remains in exceptional overall condition. Impressively, the GT1 was collectible on day one of its life, and today, that remains even more so the case.”

First campaigned by the highly successful German Roock Racing Team as their lead car in the 1997 FIA GT Championship it was then raced at the 1997 Le Mans 24 Hours by Le Mans winners Allan McNish and Stéphane Ortelli alongside former Formula One driver Karl Wendlinger. Following which, it had an impressive 1997 U.S. PSCR season with Rohr Racing winning the IMSA GTS-1 class championship with four race wins in the hands of McNish and Andy Pilgrim among others. Formerly of The Drendel Collection, today it is offered from a prominent, world-class Porsche collector. 

 Other notable Porsche variants consigned for this year’s auction include;

• 1998 RUF CTR II, estimated at $2,200,000 - $2,500,000
• 1964 Porsche Carrera 904 GTS, estimated at $2,200,000 - $2,500,000
• 1988 Porsche 959 Komfort, estimated at $1,800,000 - $2,200,000
• 1998 RUF Turbo R Limited, estimated at $1,500,000 - $2,000,000
• 1995 Porsche 911 GT2, estimated at $1,300,000 - $1,600,000
• 1973 Porsche 911 Carrera RS 2.7 Lightweight, estimated at $1,250,000 - $1,500,000
• 2005 Porsche Carrera GT, estimated at $1,100,000 - $1,300,000
• 2021 RUF RT 12 R, estimated at $800,000 - $1,000,000
• 1989 Porsche 911 Turbo Slantnose Cabriolet, estimated at $350,000 - $400,000
• 2024 Porsche 911 Dakar, estimated at $350,000 - $400,000

Broad Arrow Auctions 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 14^th, with the auction beginning at 6:30 pm. The auction will continue Thursday, the 15^th with the sale beginning at 3:00 pm. Please visit the Broad Arrow website for additional information on the upcoming auction and to purchase Motorlux tickets directly, please visit the Motorlux website directly.

Photo Credits: Modern photography courtesy of Robin Adams

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.

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.

Attachments

• The 1997 Porsche 911 GT1 Rennversion
• The 1997 Porsche 911 GT1 Rennversion

Ian Kelleher
Broad Arrow Auctions
917-971-4008
ian.kelleher@broadarrowgroup.com