Latest news with #Beddor
TimesLIVE
18-07-2025
- Automotive
- TimesLIVE
Ultra-rare 1998 RUF CTR 2 Sport headed to Monterey auction
Image: Supplied A sought-after 1998 RUF CTR 2 Sport is set to go under the hammer at the 2025 Monterey Jet Centre Auction on August 13—14. Offered by Broad Arrow Auctions, it's expected to fetch between $3m (R53m) and $3.5m (R61.8m). Unveiled in 1995, the CTR 2 was the second generation of RUF's ultra-high performance line and the first road legal RUF model sold in the US. Built on the Porsche 993-generation 911 chassis, it featured a race-bred 3.6 l twin-turbocharged air cooled flat-six engine inspired by the Group C Porsche 962. The powerplant delivered a mighty 432kW and 684Nm of torque. Performance was fierce, with a 0—100km/h time of 3.6 seconds and an estimated top speed of 350km/h. Gear changes were handled by a specially reinforced six-speed manual transmission developed in-house by RUF to cope with the engine's output. Other standout features included the first use of carbon disc brakes on a production road car, an integrated roll cage and a bi-functional rear wing. The Sport variant pushed the envelope further with a track-focused evolution that offered reduced weight, increased power and enhanced grip thanks to a widened track. Of the 29 CTR 2s produced, only 14 were Sport versions — making it an exceptionally rare machine. The 1998 CTR 2 Sport on offer at Monterey (chassis no W09BC0360WPR06007) was commissioned by Frank Beddor, patriarch of the Beddor family. It stands out among its rarefied peers as one of only four CTR 2 Sports specified with all-wheel drive. Delivered in non-metallic black over a black leather interior, the car remained in the Beddor family until 2007, when it was sold to Richard Gundeck of New Jersey. After suffering minor damage during transport, it was sent back to the RUF factory in Pfaffenhausen, Germany, where it received several upgrades and cosmetic repairs. These included a full green leather interior that now wraps nearly every surface inside the car, as well as Bilstein PSS10 coilovers. Offered with just 26,842km on the clock at the time of cataloguing and a fresh service from RUF North America in July 2025, this sought-after supercar exemplifies the dual nature of the CTR 2 Sport: brutal performance balanced by everyday usability. 'The RUF CTR 2 has quickly become one of the most sought-after supercars for today's most active buyers,' said Broad Arrow Senior Car Specialist Alexander Weaver. 'It offers race-ready dynamics wrapped in grand tourer luxury — something that appeals to today's younger collectors, with membership into what is perhaps one of the collector car market's most exclusive clubs. We're excited to continue our track record for selling the world's most desirable RUF and modified Porsche models in Monterey, a venue where we set new benchmarks for the manufacturer last year.'
Business Upturn
16-07-2025
- Automotive
- Business Upturn
THE APEX AIR-COOLED RUF OF THE NINETIES: BROAD ARROW ADDS EXCEEDINGLY RARE RUF CTR 2 SPORT TO MONTEREY JET CENTER AUCTION
By GlobeNewswire Published on July 16, 2025, 22:00 IST Grosse Pointe, Michigan, July 16, 2025 (GLOBE NEWSWIRE) — Broad Arrow Auctions, a Hagerty (NYSE: HGTY) company, is thrilled to bring an exciting group of RUF Manufaktur and Porsche-based performance cars to its 2025 Monterey Jet Center Auction. The group is led by the apex air-cooled production RUF of the nineties, a 1998 RUF CTR 2 Sport (Estimate: $3,000,000 – $3,500,000). For RUF, the original CTR Yellowbird's wild ambition was a tough act to follow, but with their CTR 2, they would surpass the predecessor in nearly every measurable way. Unveiled in 1995, the CTR 2 was the second generation of the cult-status manufacturer's ultra-high-performance line and the first road-legal RUF model sold in the U.S. Built on the Porsche 993-generation 911 chassis, it featured a race-bred 3.6-liter air-cooled flat-six engine inspired by the Group C Porsche 962. Tuned to 580 horsepower, the twin-turbocharged engine delivered 505 lb-ft of torque, propelling the car from zero-to-60 mph in just 3.6 seconds and to an estimated top speed of 217 mph—the world's fastest production car of its time. A RUF-modified six-speed manual transmission transfers the drivetrain's immense power and torque. Add a luxurious interior, avant-garde engineering like the first-ever use of carbon disc brakes on a production road car, and design departures like RUF's integrated roll cage and the showpiece bi-functional rear wing and that still wasn't enough for Alois Ruf. Determined to push the envelope further, RUF developed the CTR 2 Sport, a street-legal, track-focused evolution of the standard car. Of the mere 29 CTR 2 examples produced, just 14 were CTR 2 Sports —lighter, wider, more powerful, and even more exclusive. CTR 2 Sports retained all the aerodynamic and mechanical advancements of their siblings but added an extra layer of intent. The 1998 RUF CTR 2 on offer at Broad Arrow's Monterey Jet Center Auction, chassis no. W09BC0360WPR06007, was ordered new by the patriarch of the Beddor family, Frank Beddor. It stands apart even among its rarefied peers as one of just four CTR 2 examples specified with all-wheel drive. The car was ordered new in non-metallic Black over a black leather interior and remained with the Beddor family until 2007 when it was sold to Richard Gundeck of New Jersey. Upgrades and cosmetic repairs were carried out at the RUF factory in Pfaffenhausen, Germany, after the car was involved in a mishap while in transport. This refresh included the installation of the full green leather interior that wraps nearly every surface inside the Sport today, along with Bilstein PSS10 coilovers. Offered with just 16,679 miles at the time of cataloging and a full service from RUF North America in July 2025, this sought-after supercar exemplifies the dual nature of the CTR 2 Sport: brutal speed balanced by genuine usability. 'The RUF CTR 2 has quickly become one of the most sought-after supercars for today's most active buyers,' says Alexander Weaver, Senior Car Specialist & VP of Private Sales for Broad Arrow. 'It offers race-ready dynamics wrapped in grand tourer luxury—something that appeals to today's younger collectors, along with membership into what is perhaps one of the collector car market's most exclusive clubs. We're excited to continue our track record for selling the world's most desirable RUF and modified Porsche models in Monterey, a venue where we set new benchmarks for the manufacturer just last year.' Additional RUF and modified Porsche models joining Broad Arrow's Monterey Jet Center lineup include: 1991 Porsche 911 Reimagined by Singer DLS 'Dynamics and Lightweight Study' (Estimate: $2,900,000 – $3,200,000). One of only 75 DLS commissions undertaken, the 'Mame Commission' represents a rare and significant piece of modern automotive art. The DLS project sought to unlock the pinnacle of performance for the 964-generation Porsche 911 by employing an uncompromising approach to lightweight engineering. The bespoke car on offer is finished in custom Fluid Silver over an exquisite interior featuring Olive Green Suede, Black bead-blasted bright trim throughout, and visible Black tint satin carbon. Beneath the surface lies Singer's 4.0-liter naturally aspirated flat-six engine developed with Williams Advanced Engineering, producing 500 horsepower. With just over 250 miles at cataloging, the Mame Commission offers the opportunity to acquire one of the most exclusive and meticulously crafted Porsche 911 reimaginations from the very group that invented the genre. One of only 75 DLS commissions undertaken, the 'Mame Commission' represents a rare and significant piece of modern automotive art. The DLS project sought to unlock the pinnacle of performance for the 964-generation Porsche 911 by employing an uncompromising approach to lightweight engineering. The bespoke car on offer is finished in custom Fluid Silver over an exquisite interior featuring Olive Green Suede, Black bead-blasted bright trim throughout, and visible Black tint satin carbon. Beneath the surface lies Singer's 4.0-liter naturally aspirated flat-six engine developed with Williams Advanced Engineering, producing 500 horsepower. With just over 250 miles at cataloging, the Mame Commission offers the opportunity to acquire one of the most exclusive and meticulously crafted Porsche 911 reimaginations from the very group that invented the genre. 2011 RUF Rt Roadster (Estimate: $900,000 – $1,200,000). This is the singular RUF Rt Roadster, a reimagination of the original 1967 911 'soft-window' Targa with a fresh, modern take that once again showcased the brand's talent for interpreting icons ahead of the curve. Despite its rapturous reception, it was a true one-off coach build for a special customer. Based on the Rt 12 S, it is finished in bespoke Chroma Flash Hologram Matt over a Red leather interior and powered by a matching numbers twin-turbo 3.8-liter flat-six producing 600 horsepower and 538 lb-ft of torque, paired with a seven-speed double clutch transmission and all-wheel drive. Highly optioned and offered with just 6,907 miles from its original owner, this is an opportunity not to be missed. This is the singular RUF Rt Roadster, a reimagination of the original 1967 911 'soft-window' Targa with a fresh, modern take that once again showcased the brand's talent for interpreting icons ahead of the curve. Despite its rapturous reception, it was a true one-off coach build for a special customer. Based on the Rt 12 S, it is finished in bespoke Chroma Flash Hologram Matt over a Red leather interior and powered by a matching numbers twin-turbo 3.8-liter flat-six producing 600 horsepower and 538 lb-ft of torque, paired with a seven-speed double clutch transmission and all-wheel drive. Highly optioned and offered with just 6,907 miles from its original owner, this is an opportunity not to be missed. 1987 Porsche 911 RUF Carrera 3.4 'Goldfinger' (Estimate: $850,000 – $1,100,000). This is a spectacular U.S.-market 1987 Carrera Coupe converted by RUF in 2018. Commissioned by a private client who sought to combine the timeless lines of the 1974 3.0-liter RSR with a one-off character, Goldfinger is a turn-key masterpiece of German tuning ready to be enjoyed for its thrilling performance. Its air-cooled flat-six was enlarged to 3.4 liters, producing 270 horsepower, mated to a G50 five-speed transmission with an upgraded clutch. It features RSR-inspired bodywork finished in 991-generation Lime Gold Metallic paint over a bespoke buffalo dark brown leather and Pepita Houndstooth fabric interior. Further enhancements include an integrated roll cage (IRC), RUF-tuned dampers, and CTR-spec drilled, ventilated brakes. Exuding both presence and practicality, Goldfinger is offered with fewer than 5,000 km since its completion. Broad Arrow returns to The Monterey Jet Center in California for its fourth annual flagship sale on Wednesday, August 13 (6:00 pm PT auction start) and Thursday, August 14 (1:00 pm PT auction start). Held in conjunction with Motorlux—the best way to kick off Monterey Car Week—thousands of collectors and enthusiasts from around the world will be in attendance. The Monterey Jet Center auction will feature more than 170 collector cars across all categories of the market, set to cross Broad Arrow's signature Monterey auction runway. Broad Arrow's 2024 Monterey Jet Center Auction totaled $71.5 million with an 85 percent sell-through rate. Bidder registration and additional information on all cars on offer is available at with new consignments added daily. Interested bidders are invited to connect with a Broad Arrow car specialist at +1 313 312 0780. The complete digital catalog will be available in the coming weeks. Members of the media on official assignment are invited to apply for media credentials for The Monterey Jet Center Auction by writing to [email protected]. Editor's Notes Photos: 1998 RUF CTR 2 Sport (Credit – Zach Brehl / Courtesy of Broad Arrow Auctions) 1998 RUF CTR 2 Sport (Credit – Zach Brehl / Courtesy of Broad Arrow Auctions) Additional images of all cars available upon request. About Broad Arrow Auctions Broad Arrow Auctions, a Hagerty (NYSE: HGTY) company, is a leading global collector car auction house. Founded in 2021 by highly experienced industry veterans, Broad Arrow offers exceptional quality cars to collectors and enthusiasts around the world. As the fastest growing auction house in its segment, Broad Arrow's flagship annual events include The Monterey Jet Center Auction, in conjunction with Motorlux in California, The Amelia Auction, as the official auction of The Amelia (Concours d'Elegance) in Florida, and The Porsche Auction, in conjunction with Air | Water by Luftgekühlt in California. Broad Arrow expanded its global footprint in 2023, with renowned car specialists joining the team in the UK and Europe. Broad Arrow launched its first auction in Europe in May 2025 as the new official auction house of the Concorso d'Eleganza Villa d'Este in Italy in partnership with BMW AG. Broad Arrow now expands its global auction footprint with three new auctions in 2025 to be held during Zoute Grand Prix, Concours at Wynn Las Vegas, and Auto Zürich. Learn more at and follow us on Instagram, Facebook, LinkedIn, and Twitter. About Hagerty, Inc. (NYSE: HGTY) Hagerty is an automotive enthusiast brand committed to saving driving and to 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 875,000 who can't get enough of cars. For more information, please visit or connect with us on Facebook, Instagram, X and LinkedIn. Forward-Looking Statements – This press release contains statements that constitute 'forward-looking statements' within the meaning of the federal securities laws. All statements provided, other than statements of historical fact, are forward-looking statements, including those regarding Hagerty's future operating results and financial position, Hagerty's business strategy and plans, products, services, and technology implementations, market conditions, growth and trends, expansion plans and opportunities, and Hagerty's objectives for future operations. The words 'anticipate,' 'believe,' 'envision,' 'estimate,' 'expect,' 'intend,' 'may,' 'plan,' 'predict,' 'project,' 'target,' 'potential,' 'will,' 'would,' 'could,' 'should,' 'continue,' 'ongoing,' 'contemplate,' and similar expressions, and the negative of these expressions, are intended to identify forward-looking statements. Hagerty has based these forward-looking statements largely on current expectations about future events, which may not materialize. Actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. These factors include, among other things, Hagerty's ability to: (i) compete effectively within our industry and attract and retain our insurance policyholders and paid Hagerty Drivers Club ('HDC') subscribers; (ii) maintain key strategic relationships with our insurance distribution and underwriting carrier partners; (iii) prevent, monitor, and detect fraudulent activity; (iv) manage risks associated with disruptions, interruptions, outages or other issues with our technology platforms or our use of third-party services; (v) accelerate the adoption of our membership and marketplace products and services, as well as any new insurance programs and products we offer; (vi) manage the cyclical nature of the insurance business, including through any periods of recession, economic downturn or inflation; (vii) address unexpected increases in the frequency or severity of claims, and (viii) comply with the numerous laws and regulations applicable to our business, including state, federal and foreign laws relating to insurance and rate increases, privacy, the internet, and accounting matters. The forward-looking statements herein represent the judgment of Hagerty as of the date of this release and Hagerty disclaims any intent or obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise. This press release should be read in conjunction with the information included in Hagerty's other press releases, reports and other filings with the Securities and Exchange Commission. Understanding the information contained in these filings is important in order to fully understand Hagerty's reported financial results and its business outlook for future periods. Attachments 1998 RUF CTR 2 Sport set for Broad Arrow's Monterey Jet Center Auction The leather-wrapped interior of the 1998 RUF CTR 2 Sport set for Broad Arrow's Monterey Jet Center Auction Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
Al Jazeera
11-03-2025
- Business
- Al Jazeera
Why China isn't as worried about Trump's trade war as in 2018
Taipei, Taiwan – As United States President Donald Trump kicks off a new trade war with China, analysts say he will face a much stronger and more prepared adversary in Beijing compared with his first term in office. Since returning to the White House in January, Trump has already imposed a 20 percent tariff on Chinese imports, citing Beijing's alleged failure to curb the export of the deadly opioid fentanyl to the US. The tariff comes on top of previous duties imposed by Trump and former US President Joe Biden on more than $400bn worth of Chinese goods. After condemning the latest US tariffs as 'bullying' and 'intimidation,' Beijing hit back last week by announcing tariffs of 10-15 percent on numerous US agricultural goods, including corn, beef, pork, dairy and soybeans. The tariffs, which went into effect on Monday, followed Beijing's announcement last month of a 10 percent tariff on crude oil, agricultural machinery, pick-up trucks, and some cars, and a 15 percent tariff on coal and liquefied natural gas. 'If war is what the US wants, be it a tariff war, a trade war or any other type of war, we're ready to fight till the end,' Chinese Foreign Ministry Spokesperson Lin Jiang told reporters last week. While the tit-for-tat measures recall Trump's first trade war in 2018, both Washington and Beijing are facing very different conditions today than seven years ago. The world's two biggest economies have steadily decoupled in recent years, reducing their mutual dependency and blunting the impact of tariffs, according to analysts. Christopher Beddor, a deputy China research director at the Beijing-based Gavekal Dragonomics, said the latest tariffs should be 'pretty manageable' for China, and noted that they are significantly below the 60 percent rate threatened by Trump during his election campaign. 'I don't want to understate the impact – that's almost a tripling of the effective tariff rates for Chinese goods that are coming into the United States, so it's big,' Beddor told Al Jazeera. 'But Chinese exports into the United States are a pretty modest share of its overall economy,' Beddor said. Declining trade share China's share of total US trade – measured as the sum of exports and imports – dropped from 15.7 percent to 10.9 percent between 2018 and 2024, according to Bloomberg. Over the same period, the US's share of China's total trade fell from 13.7 percent to 11.2 percent. Lynn Song, chief Economist for Greater China at ING, said Beijing is not likely to be panicking over the tariffs – at least for now. 'While avoiding this sort of trade friction would've been preferable, it's something that's been planned for, so I wouldn't say there's a feeling of panic,' Song told Al Jazeera. 'With that said, with every tariff escalation, there inevitably will be parts of trade which become unviable and companies that will be impacted.' Another factor mitigating the impact of tariffs, Lynn said, is that Chinese exporters such as Shein and Temu have found success selling low-cost goods directly to customers by taking advantage of a tariff exemption on shipments worth less than $800. Beijing has continually rolled out measures to insulate the economy from any trade shocks. At the 'Two Sessions' meetings last week in Beijing, the National People's Congress – the highest body of state power in China – announced several fiscal stimulus measures, including raising the debt level for local governments and issuing 1.3 trillion yuan ($179bn) in long-term treasury bonds. Carsten Holz, an expert on the Chinese economy at the Hong Kong University of Science and Technology, said Beijing's domestic policy moves have given it a significant buffer against US demands. 'Even the effect of a complete Trump ban on imports from China – hardly realistic in an age when, for example, the bulk of iPhones are produced in China – may not make a dent larger than a fraction of a percentage point in China's GDP,' Holz told Al Jazeera. 'For an authoritarian leadership determined to project strength, this is unlikely to be enough to join what may look to the Chinese public like 'peace talks' with a foreign aggressor.' Some analysts believe that despite its stronger position compared with 2018, Beijing still wishes to negotiate with Trump – at least for the moment. 'Avoiding escalation' One of the strongest signals that Chinese officials are open to talking is that their opening round of tariffs was relatively mild and restricted to a limited number of goods, suggesting a strategy of 'avoiding escalation,' said Even Rogers Pay, a food and agricultural analyst at the Beijing-based research group Trivium China. 'The retaliation demonstrates that while China's government doesn't intend to take trade pressure lying down, they are also not going to be baited into an escalatory trade conflict where early overreaction could make striking a deal more difficult,' Pay told Al Jazeera. 'Instead, by applying moderate tariffs to a short list of key industries, Beijing is ramping up political pressure in the red states that are major exporters of corn, soybeans, sorghum and other farm products that they hope will bring Trump to the table.' Beijing may be angling for a 'phase two' deal along the lines of the 'phase one' deal struck with Trump in 2020 to bring an end to the first trade war, Pay said. Under the phase one deal, China pledged to buy $200bn in US goods and services, including agricultural products, over two years. Beijing, however, only fulfilled about 58 percent of this amount after trade was derailed by the COVID-19 pandemic, according to the Peterson Institute for Economic Research. John Gong, a professor of economics at the University of International Business and Economics in Beijing, agreed that China can withstand the pressure but is also ready to negotiate. 'The government in China is, of course, worried, but won't back down in a humiliating way. They would love to negotiate a deal, but if it can't, they would have a 'so-be it attitude',' Gong told Al Jazeera. Meanwhile, some analysts believe Trump is at risk of overplaying his hand. During the last trade war, Trump directed his focus solely on China, but since returning to office he has set his sights on other countries, too, including Mexico and Canada, in a bid to reduce the US trade deficit. The US president has also moved at lightning speed. In the span of about a month, Trump rolled out tariffs on goods worth $1.4 trillion, compared with tariffs on imports worth $380bn in 2018 and 2019, according to an analysis by Erica York, the vice president of federal tax policy at the Tax Foundation, a Washington-based think tank. It is unclear, though, to what extent Trump's tariffs will stick. Just two days after imposing sweeping tariffs on Canada and Mexico on March 4, Trump announced that he would delay duties on many imports until April 2. 'There are a lot of things that could go wrong for Trump now, and to be honest, there's some reasonable possibility that he is forced to retreat from a lot of these tariffs because the domestic economic consequences of the US are just so bad,' Gavekal Dragonomics' Beddor said. '[China's] approach is: let's wait and see, apply more fiscal stimulus to mitigate the impact.'
