Broad Arrow auction shatters sales record in Cernobbio

In Cernobbio, Italy, Broad Arrow conducted its first European auction following a less successful rival event just days prior. The auction took place on a Sunday and featured a diverse range of items, including significant historical pieces in the automotive world. Among the highlights was a boat previously raced by Formula 1 legend Gilles Villeneuve and a 1990 Ducati owned by Sir John Surtees, notable for his achievements in both motorcycle and car racing. The auction achieved remarkable success with total sales reaching €31,172,625, equivalent to $35,378,640, and a notable clearance rate of 78%. This impressive outcome was amplified by the presence of over 8,000 viewers on YouTube, indicating a strong interest in the auction and its offerings. A standout sale during the event was a 2003 Honda NSX-R, which broke records by selling for €934,275, making it the most expensive Honda NSX ever sold. Broad Arrow’s Vice-President of Sales for the EMEA region, Joe Twyman, expressed satisfaction by stating that the auction had been a resounding success. The event showcased a curated selection of collectible motor vehicles, focusing on both historical significance and the rich racing heritage associated with the brands featured. The auction’s success can be attributed to a growing enthusiasm for classic automobiles, coupled with the continued allure of high-value motor racing memorabilia. This event not only sets a precedent for future auctions by Broad Arrow but also highlights the ongoing interest in luxury and collectible items, suggesting that the automotive auction market remains vibrant and competitive in the current economic landscape.