Hagerty(US:HGTY) Newsfilterยท2024-07-09 14:54Core Insights - Broad Arrow Auctions, a subsidiary of Hagerty, is set to host its fourth and final U.S.-based auction for 2024 during the Chattanooga Motorcar Festival, featuring approximately 100 collector cars on October 12, 2024 [1][2] - Chattanooga is strategically located within a day's drive of nearly 80% of the continental U.S. population, making it a significant hub for car collectors [2] - The Chattanooga Motorcar Festival supports neuroscience research through the Fifty Plus Foundation, which has been active for nearly 13 years in supporting Alzheimer's and neuroscience research [7] Company Overview - Hagerty is a leading automotive enthusiast brand that provides specialty vehicle insurance, car valuation data, auction services, and automotive entertainment for over 67 million car enthusiasts in the U.S. [3] - Broad Arrow operates as an advisor and market maker for car collectors, emphasizing integrity and innovation in its services [6] - The company is committed to positive change through its Hagerty Impact initiative, which focuses on issues important to its community and stakeholders [3] Event Details - The Chattanooga Motorcar Festival will take place from October 11-13, 2024, and aims to bring together automotive enthusiasts while benefiting a charitable cause [5][8] - The festival is expected to attract significant consignment interest for the auction, highlighting the strong relationships Broad Arrow has with collectors in the region [2][8] - The next auction on Broad Arrow's calendar is the Monterey Jet Center Auction scheduled for August 14-15, 2024, featuring approximately 40 cars [9]