Hagerty, the Traverse City-based automotive lifestyle and specialty insurance company, today announced the expansion of its Hagerty Marketplace to include Online Auctions that will allow buyers and sellers to take part in virtual auctions from any location. The company also announced a partnership with Mobil 1 that celebrates car culture.
The first 10 cars joining the Hagerty Marketplace Online Auctions platform includes a variety of vehicles and price ranges, from a 1963 Ford Fairlane 500 Squire Wagon to a 2019 Ford GT.
Online Auctions is an expanded feature of the Hagerty Marketplace, which rolled out in January 2022 and has been increasing its content over the past year. Members using the feature will work with a Hagerty Marketplace auction specialist, who will provide support for pre-sale prep and post-auction logistics, including facilitating payment and transfer of ownership.
Each buyer will provide a government-issued identification and credit card before bidding, ensuring that real enthusiasts are behind each bid. Each week will feature a new group of collector cars up for auction.
“Over the past few years, the collector car industry has seen exceptional growth in demand for online car auctions, driven by the convenience of bidding from practically anywhere,” says Kenneth Ahn, president of Hagerty Marketplace.
“But when car collectors are buying and selling five-, six-, or seven-figure cars online, we believe there are areas for significant improvement over the status quo. Our goal is to provide an online auction platform that is differentiated by trust, with unparalleled level of service and data-driven expertise. We are excited to launch Hagerty’s Marketplace online auctions and we are committed to continuing to innovate and grow along with this emerging market.”
Every vehicle listed is selected by experienced car specialists and all titles are verified by Hagerty’s team. All consignors and bidders are validated with government-issued identification for a safer, more-secure auction experience.
Pre-registration to bid is now open and the site features a sampling of collector cars about to be auctioned including a 2000 Mercedes-Benz E55 AMG and 1992 Porsche 968 Convertible in addition to the Fords.
In addition to the new online auctions, in August Hagerty acquired Broad Arrow Group (an auction and asset-based financing specialist), whose team hosts in-person car auctions. Broad Arrow will work in tandem with Hagerty’s online auctions to provide more options and opportunities for car collectors and enthusiasts to buy and sell collectible cars.
In a move designed to “cultivate and celebrate a more meaningful car culture,” Hagerty and Mobil 1 on Wednesday formalized an alliance in a multi-year collaboration to serve drivers everywhere.
Together, the brands say they plan to create “compelling” content, cultivate communities, and promote car care with purpose.
“Hagerty has a purpose to save driving and car culture,” says Scott Howard, director of North America Finished Lubricants at ExxonMobil. “Mobil 1 has a mission to spread the love of driving.
“Whether it’s modern European race cars, classic American builds, the Rocket League’s virtual Octane car, or innovative creations like the Hoonipigasus, we’ve seen that the joy of driving, not necessarily what you’re driving, is what unites enthusiasts together and builds communities. Together, Mobil 1 and Hagerty will better serve, grow, and inspire drivers everywhere.”
Larry Webster, senior vice president of media and editorial at Hagerty, says: “We started as an insurance company to protect the vehicles we all love. But we’ve grown into an automotive lifestyle brand because the passion of driving enthusiasts is so much bigger than the car themselves.
“The builders, the stories, the gatherings and — yes — the cars, are why more than 750,000 drivers are part of Hagerty’s Driver’s Club. Empowering people who love cars of all types is what motivates Mobil 1 and Hagerty to serve driving communities together.”
Combined, Mobil 1 and Hagerty have nearly 90 years of experience protecting automobiles, creating innovative technologies, building industry relationships, and growing communities of driving enthusiasts all over the world. Together, they say, the brands will be able to serve their consumers better by bringing automotive culture to new heights – on and off the road.