A version of this article first appeared in CNBC’s Inside Wealth newsletter by Robert Frank, a weekly guide for high-net-worth investors and consumers. Sign up to receive future editions directly to your inbox.
Hagerty’s CEO said the classic car market’s strength is expected to continue into 2026 as demand increases from a new generation of collectors.
Collectible car auction and online sales rose 10% to $4.8 billion in 2025, according to classic car insurance company and collector platform Hagerty. Hagerty CEO McKeel Hagerty said demand looks strong next year given the sales pipeline and activity in the private classic car market.
“We’re seeing a lot of momentum on the private side,” Hagerty told CNBC. “We’re seeing a lot of private transactions taking place in very important cars of all types and ages. We’re looking forward to 2026.”
The biggest driver is a new generation of collectors. As baby boomers age out of the market and shrink in size, Gen X, Millennials, and Gen Z are taking over and redefining the market. They feel more comfortable buying online, Hagerty said, and online classic car sales have jumped 12% this year to $2.5 billion.
Younger buyers also want younger cars. The sports cars of the 1950s and 60s, which long dominated the classic car market, have been replaced by the high-performance supercars of the 90s and beyond. Ferrari F40 and F50, Bugatti Veyron and Chiron, McLaren F1, and Paganis and Koenigsegg are among the most popular prizes today.
Hagerty said supply will remain strong as many of today’s supercar manufacturers are also ramping up production.
“You would think that both Ferrari and Porsche would seem to have record sales every year,” he says. “That’s the future of people buying, collecting and sticking with it. So we think that’s a tailwind.”
The huge transfer of wealth is set to shake up the industry as a wave of old cars owned by baby boomers is passed on to the next generation. According to Cerulli Associates, an estimated $100 trillion will be inherited by spouses and family members by 2048. This amount includes real estate, collectibles, and other hard assets.
“Part of that will be cars,” Hagerty said. “Those families are going to have to decide whether they want to keep it, put it in their garage or sell it. I think that’s really just the beginning.”
McKeel Hagerty, CEO of Hagerty, on the NYSE on December 6, 2021.
Source: New York Stock Exchange
For those looking for a good investment in today’s classic car market, Hagerty has published its Bull Market List. This annual ranking uses Hagerty data to find cars that are good value, fun to drive, and likely to increase in price due to strong demand — or, in Hagerty’s words, “the best deals for next year.”
The list includes the pricey 2004-2007 Porsche Carrera GT (usually $1.5 million or more), the 1969-1972 Alfa Romeo GTV (usually $50,000-$150,000), and the 1999-2005 Mazda MX-5 Miata (usually $9,000-$26,000).
Mr. Hagerty concluded by saying that the classic car market is ultimately supported by wealth creation. He said with the stock market poised for a third consecutive year of double-digit growth and interest rates falling, collectors have plenty of fuel to keep buying.
“They have a pretty good feel for their personal balance sheets,” he says. “They log into their account and see how their portfolio is doing. I think people feel empowered to be able to go out and buy.”
