Grosse Pointe, MI, Dec. 22, 2023 (GLOBE NEWSWIRE) -- Broad Arrow Auctions, a Hagerty (NYSE: HGTY) company, is thrilled to announce the consignment of the historic 1959 Porsche 718 RSK Spyder “Lucybelle III”, chassis 718-024, (estimate $3,500,000 - $4,500,000), to its Amelia Island Auction, being held this March 1-2 at the stunning Amelia Island Ritz Carlton. The Porsche 718 RSK Spyder has an impressive period history having been sold new to American race car driver and former Le Mans winner Ed Hugus. Hugus raced 718-024 in the instantly recognizable “Lucybelle III” livery at the 1959 24 Hours of Le Mans, and in the subsequent years, the Porsche was raced in both USAC and SCCA events as well as at the grueling Pikes Peak Hillclimb in 1962 where it finished Fourth in Class.
Jakob Greisen, Senior Car Specialist, Broad Arrow Auctions, states, “The 1959 Porsche 718 RSK is a hugely significant example of a purebred Porsche Le Mans race car, and we are truly honored to be offering it at the official auction of The Amelia on behalf of its gentleman owner. Chassis 024 is an impressively restored example with outstanding provenance and certainly one of the most genuine and best-documented examples of the few 718 RSK examples remaining worldwide.
The 718 RSK has recently benefitted from an outstanding, meticulous and award-winning restoration by renowned restorer Mark Allin and his team at Rare Drive, Inc. That restoration painstakingly returned the Porsche back to the exact and original specification and presented in the period correct “Lucybelle III” livery as raced in the 1959 24 Hours of Le Mans, while preserving major components of the car. The attention to detail and factory correct accuracy throughout the restoration is breathtaking, down to the white exterior paint, finished on top of German Racing Silver, as correct when the car first raced at “la Sarthe”. Since then, the RSK has been shown extensively having starred at the Pebble Beach Concours d’Elegance where it won a class award and the Audrain Newport Concours d’Elegance where it won a First in Class and was exercised on the Colorado Grand.
Now in its second year of being the official auction company of The Amelia, Broad Arrow Auctions continues to assemble a stellar lineup of consignments for the auction across all decades of motoring, with the Porsche joining other highlights such as the 2020 McLaren Speedtail (estimate: $2,000,000 - $2,400,000) and 1947 Delahaye 135 M Abbott Roadster (estimate: $700,000 - $900,000).
Broad Arrow will kickstart its 2023 calendar with the company’s inaugural Amelia Auction and debut as the official auction of The Amelia. Set for March 1-2 at The Ritz-Carlton, Amelia Island, the Amelia Auction will feature exceptional collector cars ranging from pre-war classics to modern supercars. Collectors interested in consigning their car(s) to this world-class event are invited to contact a Broad Arrow specialist via broadarrowauctions.com.
Photo Credit: All Modern Photography courtesy of Nathan Deremer
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 U.K. and is home to Hagerty Drivers Club, a community of over 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 and LinkedIn. More information 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.
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