Broad Arrow Auction in Chattanooga Sells $12.3M in Cars
- Broad Arrow Auctions held its inaugural Chattanooga Auction on October 12, 2024, achieving sales of $12,265,520 with 82 percent of lots sold.
- The auction attracted bidders from 10 countries and 33 states, with over half being first-time clients.
- The event was well-received, indicating a strong interest in modern classics and supercars among collectors.
On October 12, 2024, Broad Arrow Auctions hosted its inaugural Chattanooga Auction in the United States, achieving impressive sales totaling $12,265,520. The event was held in conjunction with the Chattanooga Motorcar Festival at the Chattanooga Convention Center, drawing a diverse crowd of bidders from 10 countries and 33 states. Notably, more than 50 percent of the participants were first-time clients of Broad Arrow, highlighting the auction's appeal to new collectors. The auction featured a range of vehicles, with the standout sale being a rare 1984 Porsche 911 SC RS Gruppe B "Evolutionsserie," which sold for $2 million after the auction concluded. Although this particular car did not meet its reserve during the auction, it was sold immediately afterward, demonstrating the high demand for unique collector cars. Other significant sales included a 1969 Chevrolet Corvette 427/435 Stingray Convertible, which fetched $112,000, and a 1960 Alfa Romeo Giulietta Spider Veloce, sold for $81,200. The event's success was attributed to strong attendance and enthusiastic bidding, as noted by Barney Ruprecht, Vice President of Auctions for Broad Arrow. He expressed satisfaction with the auction's results, emphasizing the positive reception from both clients and the Chattanooga Motorcar Festival. Looking ahead, Broad Arrow Auctions plans to focus on its upcoming Memorabilia Online Parts 1 & 2 Auctions, which will feature over 180 lots of important F1 and motorsport collectibles, concluding the company's 2024 auction calendar.