A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide for wealthy investors and consumers. Register to receive future editions, straight to your inbox.
The strength of the classic car market is expected to continue into 2026, as a new generation of collectors drives up demand, Hagerty CEO said.
Online auctions and sales of collector cars jumped 10% in 2025 to $4.8 billion, according to Hagerty, the classic car insurance company and collectors platform. Hagerty CEO McKeel Hagerty said that based on the sales pipeline and activity in the private classic car market, demand appears strong for next year.
“We’ve seen a lot of momentum on the private side,” Hagerty told CNBC. “We’re seeing a lot of private transactions involving very important cars, of all kinds, of all ages. We’re looking forward to 2026.”
The main driving force is a new generation of collectors. As Baby Boomers move away from the market and downsize, Gen Xers, Millennials and Gen Z are taking over and redefining the market. They’re more comfortable buying online, with online classic car sales jumping 12% this year to $2.5 billion, according to Hagerty.
Younger buyers also want younger cars. Sports cars from the 1950s and 1960s, which long dominated the classic car market, are being replaced by high-performance supercars from the 1990s and later. Ferrari F40s and F50s, Bugatti Veyrons and Chirons and McLaren F1s, as well as Paganis and Koenigsegg, are among the most sought-after prizes today.
Hagerty said that with many current supercar makers also increasing production, supply will remain strong.
“You think Ferrari, Porsche, all of them seem to set record sales numbers every year,” he said. “It’s the future of what people will buy and collect and hang on to. So we like that as a tailwind.”
This large transfer of wealth will also shake up the industry, as a wave of older cars owned by baby boomers are passed down to subsequent generations. According to Cerulli Associates, spouses and families are expected to inherit approximately $100 trillion by 2048. The amount includes real estate, collectibles and other hard assets.
“Part of it will be cars,” Hagerty said. “These families are going to have to decide if they want to keep it, if they want to put it in a garage? Are they going to sell it? I think it’s really just the beginning.”
McKeel Hagerty, CEO of Hagerty on the NYSE on December 6, 2021.
Source: NYSE
For those looking for good investments in today’s classic car market, Hagerty just released his bull market list. The annual ranking uses Hagerty’s data to find cars that are good value, fun to drive, and likely to rise in price due to high demand – or, as Hagerty puts it, “great buys for the year ahead.”
The list includes the expensive 2004-2007 Porsche Carrera GT (usually over $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).
Ultimately, Hagerty said the classic car market is ultimately fueled by wealth creation. With stock markets poised for their third year of double-digit growth and interest rates falling, he said collectors have plenty of fuel to keep buying.
“They feel pretty good about their personal record,” he said. “They log into their accounts and see that their wallet is doing well. I think people feel that strength of being able to go out there and make these purchases.”