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

The classic car market is expected to continue its upward trend in 2026, driven by a new generation of collectors who are revving up demand. According to McKeel Hagerty, CEO of Hagerty, a leading classic car insurance company and collector platform, the market is poised for another strong year. In 2025, auctions and online sales of collectible cars surged 10% to $4.8 billion, with online sales alone increasing by 12% to $2.5 billion.

Shift in Collector Demographics

A significant factor contributing to the market’s growth is the emergence of a new generation of collectors. As baby boomers age out of the market and downsize, members of Generation X, millennials, and Gen Z are taking over and redefining the market. These younger collectors are more comfortable buying online and are driving the demand for younger, high-performance cars. The 1950s and ’60s sports cars that have long dominated the classic car market are being replaced by supercars from the ’90s and later, such as Ferrari F40s and F50s, Bugatti Veyrons and Chirons, and McLaren F1s.

Impact of the Great Wealth Transfer

The great wealth transfer, which is expected to see $100 trillion inherited by spouses and families by 2048, will also have a significant impact on the classic car market. As older cars owned by baby boomers are passed down to the next generations, families will need to decide whether to keep, sell, or store them. This transfer of wealth is likely to lead to an increase in the number of classic cars available for sale, which could, in turn, drive up demand and prices.

For those looking to invest in the classic car market, Hagerty’s Bull Market List is a useful resource. The annual ranking identifies cars that are good value, fun to drive, and likely to increase in price due to strong demand. This year’s list includes the 2004-2007 Porsche Carrera GT, the 1969-1972 Alfa Romeo GTV, and the 1999-2005 Mazda MX-5 Miata. These cars offer a unique combination of performance, style, and potential for appreciation, making them attractive to collectors and investors alike.

Market Outlook

Looking ahead to 2026, the classic car market is expected to remain strong, driven by continued wealth creation and a growing demand for high-performance cars. With stock markets poised for their third year of double-digit growth and interest rates falling, collectors are likely to have the funds to pursue their passion for classic cars. As McKeel Hagerty noted, “They’re feeling pretty good about their personal balance sheets… People, I think, are feeling that strength to be able to go out there and make those purchases.”