27 January 2011

European Marques Lead Auction Sales During One Of The Most Significant Collector Car Events In The World

“Preservation Class” and “No Stories” Cars Also Incite Bidding Frenzy

Silverstone, UK (January 27, 2011) –Each year classic car collectors and enthusiasts from around the world descend to Scottsdale, Ariz. to walk the auction blocks among some of the rarest and most valuable vehicles in the world as offered by five separate auction companies, each competing for the top sales of the weekend. Many of the sales are expected to set the stage for collector car values and trends for the year ahead.

Hagerty, the world leader in collector car insurance, launched the Hagerty Media Center in Scottsdale, where auction sales and trends were compiled and reported on a daily basis. Angus Forsyth, Managing Director of Hagerty UK, was on hand to witness the top ten auction sales from the weekend as well as some of the significant emerging trends in the collector car market.

“One of the most exciting conclusions we drew from this year’s Scottsdale auctions is that cars from European marques continue to show increased strength in the collector car market,” said Forsyth. “European sports cars from the 1950s and 1960s look to be solid places to not only invest, but more importantly, enjoy. Market growth and great motoring pleasure -- that says it all.”

Forsyth also reports that cars with unusual and handsome coachwork, spotless records and interesting ownership histories, as well as great "Best of Class" cars, are all showing exceptional strength in the market and continue to be the “smart buys” for collectors around the world.

Additionally, Forsyth reports that preservation class cars continue to show exceptional growth. “The Gooding & Company sale of the Fiat 8V Supersonic for $1,705,000 points to the growing popularity of cars that have never been restored and are original throughout, and further enhanced by unique styling characteristics that add to their appeal.”

Lot  Description    Price
 58  2006 Ferrari FXX Evoluzione  $2,090,000 (Gooding)
 285  1949 Ferrari 166 MM Barchetta  $1,870,000 (RM)
 260  1933 Packard Twelve Sport Phaeton  $1,760,000 (RM)
 157  1953 Fiat 8V Supersonic  $1,705,000 (Gooding)
 S723  1970 Plymouth ’Cuda Hemi Convertible  $1,705,000 (Russo and Steele)
 111  1930 Duesenberg Model J LeBaron Dual Cowl Phaeton  $1,485,000 (Gooding)
 122  1965 Ferrari 275 GTB Alloy Long Nose  $1,430,000 (Gooding)
 249  1955 Mercedes-Benz 300SL Gullwing Coupe  $1,375,000 (RM)
 219  1929 Duesenberg Model J Dual Cowl Phaeton  $1,237,500 (RM)
 170  1967 Ferrari 275 GTB/4  $1,100,000 (Gooding)

For further information:
Hagerty International
Marcus Atkinson
+44 (0)844 824 1130

About Hagerty

Hagerty Insurance Agency, LLC is the leading insurance agency for collector vehicles in the world and host to the largest network of collector car owners. Hagerty offers insurance for collector cars, motorcycles and even “automobilia” (any historic or collectible item linked with motor vehicles). Hagerty also offers overseas shipping/touring insurance coverage, commercial coverage and club liability coverage. UK-based subsidiary, Hagerty International, was established in 2006 to cater for the parallel market sector in the UK and Europe, and now offers a bespoke portfolio of insurance products, underwritten by Hiscox and Axa Assistance.

For more information, call the UK office on 0844 824 1130 or visit www.hagertyinsurance.co.uk or call the USA office on (800) 922-4050 or visit www.hagerty.com.