7 days ago
Broad Arrow's first European auction nets more than R630m at Villa d'Este
UK-based Broad Arrow Auctions, in partnership with BMW AG, has wrapped up its first European sale with more than €31.17m (R632.7m) in total sales. The auction took place over two days at the Concorso d'Eleganza Villa d'Este in Italy, featuring a wide range of classic and modern cars, as well as boats and motorcycles.
Held on May 24 and 25 at Villa Erba, the auction saw more than 70 lots go under the hammer, with a 78% sell-through rate. The event attracted strong in-person attendance and was watched live by more than 8,000 viewers on YouTube.
A 1948 Ferrari 166 Spyder Corsa topped the results, selling for €7.54m (R153.1m). Never before offered publicly, the early Ferrari is regarded as one of the most original examples in existence. It was commissioned by one of the brand's first customers and has competed in historic events such as the Mille Miglia and Targa Florio.
Other notable results included a 1954 Siata 208S Spider, the last of 33 built, which sold for €1.75m (R35.5m).
Modern classics also drew international interest. A 2003 Honda NSX-R with just 15,800km on the clock attracted global bidding — including from South Africa — and set a new world auction record for the model at €934,375 (R19m). A 1989 Ferrari F40 Competizione sold for €2.31m (R46.96m), while a 2023 Ford GT went for €613,750 (R12.46m).
Motorcycle collectors were also catered for. A 1990 Ducati 851 F90 Corsa, previously owned but never ridden by the late John Surtees, sold for €81,250 (R1.65m).
Image: Supplied
A separate BMW-only sale took place on Saturday evening, featuring cars from private collections. A 1980 BMW M1, upgraded to Procar specification by BMW Motorsport, emerged as the top lot of the session, achieving €602,500 (R12.23m).
'Our Concorso d'Eleganza Villa d'Este auction has been a resounding success,' said Joe Twyman, VP of sales for Broad Arrow's EMEA Region. 'The opportunity to present such a spectacular collection of the world's most desirable cars on the shores of Lake Como at the world famous Concorso was a great way to launch our first European sale.'
