Classic-car auctions hit $4.8 billion this year, set for strong 2026

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Hagerty CEO said the strength in the classic car market is expected to continue in 2026 as a new generation of collectors increases demand.

Auctions and online sales of collector cars are up 10% to $4.8 billion in 2025, according to classic car insurance company and collection platform Hagerty. Hagerty CEO McKeel Hagerty said demand looks strong for next year based on sales pipeline and activity in the specialty classic car market.

“We’ve seen a lot of momentum on the private side.” Hagerty told CNBC. “We are seeing a lot of special transactions taking place on very important cars of all types, of all ages. We look forward to 2026.”

The biggest driving force is the new generation of collectors. As baby boomers age, move out of the market and downsize, members of Generation X, Millennials and Generation Z are taking over and redefining the market. They are becoming more comfortable shopping online, with online classic car sales rising 12% this year to $2.5 billion, according to Hagerty.

Younger buyers also want younger cars. The sports cars of the 1950s and 60s, which dominated the classic car market for a long time, are being replaced by the high-performance supercars of the 90s and later years. Ferrari F40s and F50s, Bugatti Veyrons and Chirons and McLaren F1s, as well as Paganis and Koenigseggs, are among the most sought-after prizes today.

Supply will remain strong as many of today’s supercar manufacturers also increase production, Hagerty said.

“You think Ferrari, Porsche, they’re all hitting record sales every year,” he said. “That’s the future of things people will buy, they’ll collect it and they’ll hold on to it. So we like that as a tailwind.”

Massive wealth transfers will also shake up the industry, as the wave of old cars owned by baby boomers will be passed on to future generations. An estimated $100 trillion is expected to be inherited by spouses and families by 2048, according to Cerulli Associates. The amount includes real estate, collectibles and other tangible assets.

“Some of these will be cars,” Hagerty said. “These families are going to have to decide if they want to keep it, do they want to put it in a garage? Do they want to sell it? I think that’s really just the beginning.”

For those looking for good investments in today’s classic car market, Hagerty recently Bull Market List. The annual ranking uses Hagerty data to find cars that are good value, fun to drive, and likely to rise in price due to strong demand — or, as Hagerty puts it, “good buys for next year.”

The list includes the expensive 2004-2007 Porsche Carrera GT (usually $1.5 million), the 1969-1972 Alfa Romeo GTV (usually $50,000 to $150,000), and the 1999-2005 Mazda MX-5 Miata (usually $9,000 to $26,000).

In the end, Hagerty said the classic car market is ultimately fueled by wealth creation. With stock markets poised for a third year of double-digit growth and interest rates falling, collectors have plenty of fuel to continue buying, he said.

“They feel pretty good about their personal bottom line,” he said. “They log into their accounts and see that their portfolio is doing well. I think people feel empowered to go out there and make those purchases.”