Hagerty(HGTY) GlobeNewswire News Room·2024-12-12 17:51Core Insights - Broad Arrow Auctions, a subsidiary of Hagerty, will feature a 1959 Ferrari 250 GT LWB California Spider Competizione at its upcoming Amelia Auction, with an estimated sale price between 14 million [1][6]. Auction Details - The auction is scheduled for March 7-8, 2025, at the Ritz-Carlton Amelia Island in Florida [1]. - This Ferrari is noted as one of the most valuable cars ever offered in the history of the Amelia Island auction week [6]. Vehicle Specifications - The car is one of only eight aluminum-bodied Ferrari 250 GT LWB California Spider Competizione models produced, featuring a competition-specification engine and various rare competition features [2]. - It has a 9.6:1 compression ratio, producing 262.5 horsepower, and includes a 35-gallon fuel tank [2]. Historical Significance - Completed just before the 1959 24 Hours of Le Mans, the car achieved a fifth-place overall finish and third in the GT Class during its racing debut [3]. - The vehicle has a rich racing history and has participated in numerous prestigious events, including the Pebble Beach Concours d'Elegance [4][5]. Company Background - Broad Arrow Auctions is recognized as a leading global collector car auction house, founded in 2021 by industry veterans [7]. - The company is expanding its global presence, with plans for its first European auction in May 2025 [7].