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.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNBC
3 hours ago
- CNBC
How China could shut down auto factories around the world
China's dominance of the global supply chain is starting to hurt automakers. On April 4, the country cut off exports of a class of minerals called "heavy rare earth elements," and it sent the global auto industry into a panic. Rare earths are a class of 17 elements that have become indispensable in all kinds of applications — everything from fighter jets and submarines, to smartphones and appliances. You can even find them in sports equipment, like tennis rackets and baseball bats. They are also, of course, essential to the modern automobile. Gas burning cars use them to filter pollution through the vehicle's catalytic converter. Electric vehicles use them in motors and batteries. "Rare earths are really critical, and not just for electric vehicles," said Gracelin Baskaran, director of the Critical Minerals Security Program at the Center for Strategic and International Studies. "They are in your seat belt, your steering wheels, various parts of your electrical components. You are not going to manufacture a car without rare earths." Rare earths are split into further categories, based on their atomic weight. Light rare earths are easier to source. It's the medium and heavy ones that China has totally monopolized. China controls about 70% of the world's rare earth mines. But where it really dominates is in processing. The name "rare earth elements" is a bit misleading — the elements themselves are not that rare in nature. What makes them "rare" is the complex and difficult process of separating them from the rock they are embedded in, and from each other. China controls about 90% of the world's rare earth processing, and has a total monopoly on the processing of heavy rare earths. Since at least 2023, China has been tightening its grip on several of the key critical minerals it provides for the world, Baskaran said. Still, the April 4 export restrictions shocked the automotive world. "It came out of nowhere," said Dan Hearsch, managing director at AlixPartners. "Nobody had any time to react to it. I mean, within a matter of weeks, all of the material in the pipeline was out." European automakers shut down factories. Ford had to idle production of its popular Explorer SUV. This month, China started permitting some access to companies that supply parts to some automakers. And this week the Trump administration said it had reached a deal to expedite rare earth and magnet shipments to the U.S. Still it is unclear how durable these deals will be. "We're not out of the woods yet," Baskaran said. "There is a lot of volatility in the U.S.-China relationship in between tariffs and mineral restrictions. We've seen China ramp up restrictions over two years. Rare earths are just the newest one." There are longer-term solutions if China cuts off access again: recycling, developing other sources and innovation, for example. This crisis may even spur the industry to take action that reduces dependence on China. But this rare earths crisis is just the latest in a series of supply disruptions over the last several years. Hearsch said it will likely get worse. "Today it's rare earths," Hearsch said. "But tomorrow it can and will be something else that maybe we're not thinking about, that maybe isn't even all that valuable and suddenly will be." Watch the video to learn more
Newsweek
4 hours ago
- Newsweek
Lewis Hamilton Details Apple's Role in F1 Movie's Realism
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Ferrari driver Lewis Hamilton released a video talking about the newly released "F1" movie. Hamilton is stepping into the film world with "F1," officially listed as a producer on the movie and playing a crucial role in its development. "F1" stars Brad Pitt and Damson Idris as the two drivers in the movie. Joseph Kosinski - of "Top Gun: Maverick" fame - directed the movie while Apple Original Films produced it. The famous Hans Zimmer produced the film's score. Lewis Hamilton attends the "F1: The Movie" European Premiere at Cineworld Leicester Square on June 23, 2025 in London, England. Lewis Hamilton attends the "F1: The Movie" European Premiere at Cineworld Leicester Square on June 23, 2025 in London, England. Photo byIn a video released on X (formerly Twitter), Hamilton spoke about what movies as a form of art have meant to him. "I've always loved film. So much of my life has been inspired by things I've seen in movies," Hamilton said in the social media video. "Whether it's clothing, whether it's just stories that have just been uplifting, that have got me past difficult times. And then this opportunity came up, I jumped at it." The seven-time World Champion also elaborated on the film-making process itself, crediting Apple Films for providing high-tech equipment. "To get it authentic, to get the technology, to get that real live action experience, there's only one company that could make it happen. That wouldn't have been possible without Apple," Hamilton added in the video. "Apple's always stood at the intersection of the liberal arts and technology. It feels wonderful to be a part of getting this out to the world. You've really contributed a lot too. I mean, you can tell from the movie how authentic it is. "To get people to feel what we're feeling like in the car, as close as you can possibly get, we needed that technology, and we needed that camera." "And we got to utilize Apple's amazing team in pushing technology and pushing the boundaries in camera making. And they've created these new cameras." #F1TheMovie is in theaters now. Big thanks to @tim_cook and the @appletv team for helping us get to this moment ~ — Lewis Hamilton (@LewisHamilton) June 27, 2025 Hamilton's role in making the movie was to guide it into a sense of realism. He advocated for Idris and Pitt to get time behind the wheel of race cars at different tracks - hoping to add realistic driving techniques and maneuvers. The production crew shot the movie during several F1 races, and it features cameos from drivers and teams from the 2023 season. The movie runs for a total of two hours and 36 minutes - allegedly costing a total of $200 million to produce the blockbuster. "F1" fetched $10 million during the early screenings and enters its debut weekend at the box office with high expectations because of Apple's huge marketing push. More F1 news: How Lewis Hamilton Made the F1 Movie Production More Expensive For more F1 news, head on over to Newsweek Sports.
Business Insider
5 hours ago
- Business Insider
I drove the Renault 5 E-Tech. This chic French EV has one silly feature you'll never find on a Tesla.
The Renault 5 E-Tech is an electric reincarnation of a legendary, hugely popular French car. It's the European car of the year and has proved popular with buyers on the continent. I loved its quirky touches — it's the only car I've ever driven that comes with a baguette holder. It's the accessory you didn't know you needed: a baguette holder. Yes, the Renault 5 E-Tech has just such a feature in the passenger footwell — a gimmick, of course, but a brilliantly quirky touch nonetheless that reminds you you're driving a French voiture. I was going to include a picture of an empty baguette holder, but then I found this one from the car's launch showing Olympic gold medal-winning British diver Tom Daley with an actual baguette in the holder instead. You could also use the holder for a bunch of flowers, should you be so inclined. As you might have guessed from the E, the revived 5 is indeed electric, and there is no gas equivalent. It came about after now-departing CEO Luca de Meo rashly promised in a speech that Renault could make a new car in just 24 months — a very tight timeline in the auto world — and managed to do so only a few weeks past that target. The 5 made its debut way back in 1972 and was an instant hit, becoming the best-selling car in France for 14 years, with about 5.5 million vehicles sold during that period. While it was available in the US in the late 1970s, as Le Car, it didn't exactly bewitch American drivers. Souped-up versions appealed to boy racers, and a turbo model won the Monte Carlo Rally in 1981. The new 5 is Europe's car of the year 2025, beating the Alfa Romeo Junior, Citroën C3-ëC3, Cupra Terramar, Dacia Duster, Hyundai Inster and Kia EV3. It was back-to-back wins for Renault, after the Scenic — a small MPV — took the crown last year. To find out why the 5 won, I took a train on a very warm Friday afternoon earlier this month to the northern edge of London to pick up an R5. It had a 52kWh battery, 150 HP engine, and came in vibrant "Pop! Green." Buying this car would set you back a shade under £27,000 ($36,300), and has a decent WLTP range of 251 miles. This configuration represents the best value for money, according to What Car? The range starts at about £23,000. I hit the M40 motorway bound for the picturesque town of Stratford-upon-Avon, the birthplace of William Shakespeare. I was able to do the speed limit of 70 miles an hour for most of the journey and got there in about two hours. As I failed to connect my iPhone to the audio system before setting off, I tuned into the top 40 singles countdown on BBC Radio 1 — Sabrina Carpenter ended Alex Warren's 12-week run at the top of the chart, by the way. The audio system sounds superb — and was apparently created by Jean-Michel Jarre, the legendary French electronic music artist. For a small-ish EV, the 5 packs a punch, doing the speed limit effortlessly with plenty in reserve, had I wanted to risk a speeding fine. I can't say it's the quietest car I've ever driven, but I can't fault the ride and handling. As well as the baguette holder, there are plenty of charming/weird touches, such as the "5" battery indicator on the hood that lights up. It's part of the car's "modern lighting signature with cheeky welcome and goodbye sequences," as Renault puts it. The 5 is a lot of fun to drive — more than the quite boring MG I tested earlier this year. Not everyone may love its many quirks, such as the fabric on the dashboard and ceiling, and I found the four—yes, four—control stalks plus controls on the steering wheel to be quite bewildering. Maybe I'm just easily confused, but I still failed to master the automatic transmission before having to give the car back. And I still have no idea what the "Multi-Sense" button does. I had about 50% left and didn't want to risk running out of charge on the trip back to London, so I found a charging station in a fairly dismal retail park in Banbury. This was actually the first time I've charged an EV, and it took me a minute to work out the right plug (yes, I am a slow learner). Fortunately I didn't have to create an account to use the charger and could just tap my credit card to release the power. Getting the charge up to about 80% took about 15 minutes and cost just over £15 (about $20). Public chargers are not that cheap in the UK, and had the car been close to flat, it would've set me back about £50 (almost $70) to reach 100% — not too much less than a tank of gas. If you don't have a garage or driveway, the economics of an EV become considerably more complicated, which is one reason hybrids are becoming increasingly popular. In April, the 5 E-Tech was the UK's best-selling EV for retail buyers. In both April and May, it helped Renault take the top spot for private registrations of pure EVs. According to Renault, the car also leads its segment in Europe. Car Dealer magazine also made the 5 its car of the year, calling it the "right car at the right time." "The Renault 5 has both added some much-needed excitement to the lower end of the electric car market, and given Renault dealers some fire in their bellies. This small car is delivering a huge impact," says editor in chief James Baggott. I'm inclined to agree. And you know what's coming now, don't you, American readers? It appears Renault has no plans to bring the 5 E-Tech to the US. Désolé.
