Classic car auctions reached $4.8 billion this year, and are set to reach $4.8 billion in 2026

A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide for the high-net-worth investor and consumer. subscription To receive future issues, directly to your inbox.

The classic car market is expected to continue to be strong in 2026, as a new generation of car collectors drives demand, CEO Hagerty said.

Online auctions and sales of collectible cars rose 10% in 2025 to reach $4.8 billion, according to Hagerty, a classic car insurance and collecting platform. Hagerty CEO McKeel Hagerty said that based on the sales pipeline and activity in the private classic car market, demand looks strong next year.

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

The larger engine is a new generation of collectors. As baby boomers exit the market and downsize, members of Generation X, Millennials, and Generation Z are taking over and redefining the market. They feel more comfortable buying online, with online classic car sales up 12% this year to $2.5 billion, according to Hagerty.

Younger buyers also want younger cars. The sports cars of the 1950s and 1960s, which long dominated the classic car market, are being replaced by supercars from the 1990s onwards. Ferrari F40s, F50s, Bugatti Veyrons, Chirons and McLaren F1s, along with Paganis and Koenigseggs, are among the most sought-after prizes today.

Since many of today’s supercar makers are also ramping up production, supply will remain strong, Haggerty said.

“You think Ferrari and Porsche, they all seem to set sales records every year,” he said. “This is the future of what people will buy, collect and hold on to. So we like that as a tailwind.”

A major wealth transfer would also shake up the industry, as a wave of old cars owned by baby boomers is passed on to future generations. Couples and families are expected to inherit an estimated $100 trillion by 2048, according to Cerulli Associates. The amount includes real estate, collectibles and other fixed assets.

“Some of it will be cars,” Haggerty said. “Those families are going to have to decide do they want to keep it, do they want to put it in the garage? Do they want to sell it? I think it’s just getting started.”

For those looking for good investments in today’s classic car market, Hagerty has just published a bull market list. The annual rankings use Hagerty data to find cars that are good value, fun to drive, and are likely to rise in price due to strong demand — or, as Hagerty says, “great buys for next year.”

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

Ultimately, Haggerty said, the classic car market is ultimately based on wealth creation. With stock markets poised for a third year of double-digit growth and low interest rates, he said collectors have plenty of fuel to keep buying.

“They feel good about their personal balance sheets,” he said. “They log into their accounts and see that their portfolio is doing well. I think people feel that empowerment to be able to go out and make these purchases.”