Paso Robles, California, April 22, 2026 (GLOBE NEWSWIRE) -- Broad Arrow Auctions, driven by Hagerty (NYSE:HGTY), is thrilled to announce the result of a unique, single-car auction—the first North American public auction of a Gordon Murray Automotive T.50—at a stop along the celebrated California Mille on the evening of April 21 in Paso Robles, California.

The 2025 Gordon Murray Automotive T.50, chassis number 009, is one of 100 examples built of "the world's greatest driver's car", with the example on offer finished in bespoke Reef red and showing less than 30 delivery miles. The famed modern supercar from the designer of the McLaren F1 is powered by a 3.9-liter Cosworth GMA V-12 naturally aspirated engine, producing 661 horsepower at 11,000 rpm with a maximum engine speed of 12,100 rpm. That power is driven through a six-speed manual transmission and boosted by active and fan-assisted aerodynamics, all boasting a sub-1,000-kilogram dry weight.

The T.50 was presented during a dinner held for California Mille participants, drawing significant interest from multiple bidders in the room and eventually selling for a final $8,035,000 to a rally entrant. The 2026 California Mille pays special tribute to the Gordon Murray Automotive T.50, with five examples participating in the rally. A portion of proceeds from the sale of this incredibly rare supercar will benefit both the California Highway Patrol (CHP) 11-99 Foundation, which provides emergency assistance to California Highway Patrol employees and their families, as well as McPherson College's renowned Automotive Restoration Program in honor of its 50th anniversary.

"The T.50 result is another spectacular example of the strength of the supercar market among today's most active collectors," says Alexander Weaver, Senior Car Specialist and Vice President at Broad Arrow. "This nearly unobtainable icon from the legendary Gordon Murray is one of the cars to have, and we were honored to present it to a room of some of the world's preeminent collectors and driving enthusiasts along one of the most beautiful tours in the hobby."

Results and more information on the T.50 are available at broadarrowauctions.com. Broad Arrow continues its auction calendar in Southern California this weekend on April 25, with the company's third annual single-marque Porsche Air|Water Auction during the renowned Air|Water Experience by the creators of Luftgekühlt. More than 60 exceptional Porsche and RUF collector cars along with a selection of sought-after Porsche memorabilia items are on offer, led by a PTS Riviera Blue 2015 Porsche 918 Spyder Weissach Package and a Viper Green 1988 Porsche 959 SC Reimagined by Canepa, and a 2025 RUF SCR. Learn more and register to bid at broadarrowauctions.com.

Editor's Notes 

Photo Captions/Credits: Catalog images of the 2025 Gordon Murray Automotive T.50 are by Patrick Ernzen/Courtesy of Broad Arrow Auctions. Auction images are by Andrew Snucins/Courtesy of Broad Arrow Auctions.

About Broad Arrow Auctions

Broad Arrow Auctions, driven by Hagerty (NYSE:HGTY), is a leading global collector car auction house founded in 2021 by industry veterans. As the fastest-growing auction house in its segment, Broad Arrow connects exceptional collector cars with enthusiasts worldwide through flagship events including The Broad Arrow Quail Auction (the official auction of The Quail, A Motorsports Gathering), The Amelia Concours Auction (the official auction of The Amelia Concours), The Porsche Auction in collaboration with Air | Water by Luftgekühlt, the Las Vegas Auction in partnership with Concours at Wynn Las Vegas, as well as international auctions held in partnership with Concorso d'Eleganza Villa d'Este, Zoute Grand Prix, and Auto Zürich.

Learn more at broadarrowauctions.com and follow us on Instagram, Facebook, LinkedIn, and X.

About Hagerty, Inc. (NYSE:HGTY) 

Hagerty is a company built by drivers for drivers, protecting 2.7 million vehicles in the United States, Canada and the UK. We make it easier and more enjoyable for enthusiasts to drive and celebrate the machines they love through innovative insurance products, live and digital auctions, engaging media and events, as well as the Hagerty Drivers Club, the world's largest community of car lovers.

For more information, please visit www.hagerty.com or www.newsroom.hagerty.com.

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

Ian Kelleher
Broad Arrow Auctions
+1 917-971-4008
ikelleher@hagerty.com

Meghan McGrail
Broad Arrow Auctions
+1 519-365-8750
mmcgrail@hagerty.com

BROAD ARROW AUCTIONS SETS NEW BENCHMARK FOR GORDON MURRAY AUTOMOTIVE T.50 WITH $8.035 MILLION RESULT ON THE CALIFORNIA MILLE