Broad Arrow Auctions’ 2024 Monterey event saw $71.5M in sales, highlighted by a $7M Porsche 911 GT1 Rennversion and multiple auction records.
Broad Arrow Auctions left a monumental mark at the Monterey Jet Center during its third annual Monterey Auction on August 14 and 15, raking in an impressive $71.5 million in sales. The two-day event displayed a runway-style auction block, adding a memorable and immersive experience for bidders and collectors in attendance. The star of the show was undoubtedly the 1997 Porsche 911 GT1 Rennversion, which brought a whopping $7,045,000 after intense bidding both in the room and over the phone.
This year’s auction was also a record-setting affair. One of the standout moments was the sale of a 1998 RUF CTR 2, which went for $2,095,000, marking a new auction record for any RUF model. This rare CTR 2, believed to be the only one still with its original owner, was part of a trio of sought-after RUF models that all found new homes at solid prices. The success of these sales stresses the growing interest in modern cars among collectors.
Broad Arrow Auctions Monterey 2024 Top Ten Sales
1. Lot 275 1997 Porsche 911 GT1 Rennversion $7,045,000
2. Lot 147 2003 Ferrari Enzo SOLD AFTER AUCTION
3. Lot 243 1957 Maserati 200Si by Fantuzzi SOLD AFTER AUCTION
4. Lot 127 1972 Lamborghini Miura P400 SV $2,700,000
5. Lot 236 1965 Ferrari 275 GTB $2,535,000
6. Lot 121 2015 Porsche 918 Spyder Weissach Package $2,480,000
7. Lot 151 1990 Ferrari F40 $2,425,000
8. Lot 130 1998 RUF CTR 2 $2,095,000
9. Lot 257 1988 Porsche 959 Komfort SOLD AFTER AUCTION
10. Lot 114 1998 RUF Turbo R Limited $1,710,000
Kenneth Ahn, President of Broad Arrow, expressed his appreciation to the attendees and tipped his hat to the auction’s strong turnout, with 42% of bidders registering with Broad Arrow for the first time. Ahn also mentioned a shift in the market dynamics, particularly for cars valued over $1 million. While some collectors were hesitant, others were eager to bid, especially on next-generation enthusiast cars. This shift in tastes is something that Broad Arrow has been aligning with, as evidenced by the results of this auction.
Broad Arrow Auctions will cap off its 2024 calendar with The Chattanooga Auction on October 12, where around 100 collector cars will be up for grabs during the Chattanooga Motorcar Festival. Given the momentum from Monterey, this upcoming event is one to watch, especially as Broad Arrow continues to shape the future of car collecting with its focus on modern classics. View all Broad Arrow Auctions’ inventory for sale on duPont REGISTRY by clicking the link below.
Source: Broad Arrow Auctions/Kayden Nelson © 2024 Courtesy of Broad Arrow Auctions
