1948 Ferrari Sets Record as Broad Arrow Celebrates First European Auction at Villa d'Este
⚡️ Read the full article on Motorious
Broad Arrow Auctions achieved a historic milestone at its inaugural European sale this past weekend, held during the prestigious Concorso d'Eleganza Villa d'Este. Headlining the event was a 1948 Ferrari 166 Spyder Corsa, which shattered auction records for the model, selling for an astonishing €7,543,750.
The sale, conducted over two days at Villa Erba, marked Broad Arrow's debut on the European stage and its first as the official auction partner of BMW AG. The event drew global attention both in person and online, with more than 8,000 viewers tuning in via Broad Arrow's livestream. In total, 78 percent of lots found new owners, generating a sales total of €31,172,625, including post-auction transactions.
'This sale was not only a commercial success, but a historic one,' said Joe Twyman, VP of Sales for Broad Arrow's EMEA region. 'The setting, the cars, and the energy in the room all came together in spectacular fashion.'
The record-setting 1948 Ferrari—believed to be one of the most original examples of the early Spyder Corsa models—was previously never offered for public sale. With Mille Miglia and Targa Florio provenance, the car captivated bidders worldwide, eventually selling after a spirited round of telephone bids.
Additional highlights included a 2003 Honda NSX-R that realized €934,375—setting a new auction record for the model—alongside a €2,312,500 result for a 1989 Ferrari F40 Competizione. A rare 1980 BMW M1 built to Procar specification also achieved €602,500 during the BMW-exclusive segment of the auction.
Kenneth Ahn, President of Broad Arrow, reflected on the weekend's success: 'This extraordinary debut on the shores of Lake Como underscores our commitment to global growth. We are honored by the support from collectors, our partners at BMW AG, and the Concorso d'Eleganza Villa d'Este.'
Broad Arrow's next auction is slated for August 13–14 at the Monterey Jet Center in California, where it will once again present a premier selection of collector cars in conjunction with Motorlux.
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