Hagerty(HGTY) GlobeNewswire News Room·2024-11-26 15:42Core Insights - Broad Arrow Auctions has partnered with BMW AG to become the official auction partner of the Concorso d'Eleganza Villa d'Este, starting in May 2025 [1][3] - The Concorso d'Eleganza Villa d'Este is one of the oldest and most prestigious concours events, founded in 1929, and will feature Broad Arrow's auction on May 24, 2025 [2] - This partnership marks Broad Arrow's debut in overseas live auctions, following successful sales in North America, indicating the company's rapid growth in the collector car auction market [3][4] Company Overview - Broad Arrow Auctions is a subsidiary of Hagerty, which has established itself as a leader in the collector car auction industry within a short span of three years [4] - The company aims to enhance its presence in Europe and better serve high net worth clients and automotive enthusiasts [4] Event Details - The auction will take place at Villa Erba, with up to 70 high-quality collector cars expected to be offered for sale [1][2] - The event will include a public parade of Historic Cars on Sunday, following the limited ticketed events on Saturday [2] Strategic Importance - The partnership with BMW is seen as a significant endorsement of Broad Arrow's capabilities and reputation in the auction space [3] - The collaboration is expected to create a highlight for visitors and elevate the overall experience of the Concorso d'Eleganza Villa d'Este [3]