The classic car auction market has seen significant shifts from 2023 through 2025. After a pandemic-era boom in prices and activity, the market entered a period of stabilization and selective growth. Major auction houses have reported record sales at the top end while online platforms have surged in volume. This comprehensive guide breaks down how the big auction players are performing, key trends and record sales, how auctions influence prices and sentiment, the pros and cons of buying or selling at auction, whether now is a good time to enter the market, and what the future may hold. Geared for beginner investors and collectors, it offers an accessible yet data-driven overview of the current state of classic car auctions.
Major Auction Houses’ Performance (2023–2025)
Several well-known auction houses dominate the classic car space. Understanding their recent performance provides insight into the market’s health and trajectory.
RM Sotheby’s: Record-Breaking Years
RM Sotheby’s, a leader in high-end collector car auctions, has had outstanding results. In 2023 the firm notched multiple world-record sales, including a 1962 Ferrari 330 LM/250 GTO that sold for $51.7 million, the second-highest price ever paid for a car at auction. Their Monterey 2023 auction brought in $164 million (86% sell-through rate), the third-highest Monterey total in company history. This momentum carried into 2024, which RM Sotheby’s described as “a monumental year.” The house achieved over $887 million in global sales in 2024 – one of its most successful years ever – with a 96% sell-through rate across live, online, and private auction platforms. Dozens of cars sold above the $1 million mark, and high-profile collections (like the “Dare to Dream” collection) drove record results. RM expanded internationally as well, launching new events in Dubai and other regions. These figures underscore RM Sotheby’s market leadership and the continued appetite for blue-chip cars.
Gooding & Company: Steady Growth and New Partnerships
Gooding & Company, known for its premium auctions at Pebble Beach and Amelia Island, also saw strong performance. In 2023, Gooding totaled $194 million in sales with a stellar 93% sell-through rate. That year they set numerous model records and sold the most valuable car in Amelia Island history – a 1962 Ferrari 250 GT SWB California Spider for $18.0 million. Despite a cooling market, Gooding noted that demand remained “especially strong for the uppermost echelon of offerings”. In 2024, Gooding grew its sales by 5% to $205 million, outperforming the previous year despite broader market headwinds. Their top 2024 lot was a 1938 Alfa Romeo 8C 2900B Spider at $14.03 million, and they achieved a record $12.1 million sale of a 1903 Mercedes, the highest ever for any pre-1930 car. Gooding’s success attracted new investment: at the end of 2024, famed art auction house Christie’s acquired Gooding & Company, forming “Gooding Christie’s” to further expand in 2025. This partnership signals confidence in the collector car segment and may bring new global reach for Gooding’s auctions.
Bonhams: High-Profile Sales and Global Reach
Bonhams, a veteran British auction house, continued to leverage its international presence from the U.S. to Europe. In 2023, Bonhams scored one of the most headline-grabbing sales of the year at its Quail Lodge (Monterey) auction. There, a 1967 Ferrari 412P Berlinetta – one of only two ever built – sold for $30.26 million, becoming the fourth most valuable Ferrari and fifth most valuable car ever sold at public auction. This was the top sale of Monterey Car Week 2023, underscoring Bonhams’ ability to attract top-tier consignments. While Bonhams’ overall 2023 totals were slightly down from the prior year’s peak (in line with broader Monterey trends), the house demonstrated strength in European venues and niche sales. Bonhams has also embraced online platforms (they acquired The Market, a digital auction site, to complement live sales) and continues to hold prestigious events like the Goodwood Revival and Paris Retromobile sales. With high sell-through rates and some record prices, Bonhams maintained its status as a key player bridging the transatlantic collector car communities.
Broad Arrow Auctions: A Rising Newcomer
One of the newest names, Broad Arrow Auctions, launched in 2021 with backing from Hagerty, has quickly gained traction. Broad Arrow’s strategy has been to cater to emerging segments and younger collectors, and its results reflect rapid growth. Its first Amelia Island sale in 2023 totaled $31 million with an 81% sell-through, led by modern collectibles like a McLaren P1 ($2.43M). Fast forward to 2025, and Broad Arrow’s Amelia Island auction more than doubled that figure – achieving $61.7 million in sales with 88% of lots sold. The top sale at Amelia 2025 was a Ferrari 250 GT LWB California Spider Competizione at $9.47 million, the most expensive car Broad Arrow has ever sold. Other 2025 top sellers included a 1971 Lamborghini Miura SV ($4.46M) and a 2018 Pagani Huayra ($3.42M), reflecting the mix of classic and modern exotica appealing to newer buyers. Broad Arrow’s energetic approach – including live streaming, youthful branding, and events tied to car shows – is paying off. Hagerty’s support has helped increase exposure (their 2025 Amelia auction had record bidder registration and was watched by thousands online). In a short time, Broad Arrow has established itself as a serious competitor, indicating how innovation and targeting new demographics can succeed in the auction arena.
Other Key Players: Mecum, Barrett-Jackson, and Online Platforms
In addition to the above, other auction channels have influenced the market. Mecum Auctions and Barrett-Jackson continued to dominate in volume, especially for American muscle cars and drivers’ classics. Mecum’s flagship 2024 Kissimmee auction, for example, featured over 4,000 cars crossing the block, reflecting the sheer scale of their operations. Barrett-Jackson’s no-reserve auctions remained popular spectacles for enthusiasts and TV audiences. However, the most dramatic growth story has been in online auction platforms like Bring a Trailer, which merit their own discussion in the trends below.
Overall, from 2023 to 2025 the major auction houses saw healthy sales and generally high sell-through rates, even as the market cooled slightly from the frenzy of 2021–2022. Top-tier auction firms have adapted by expanding globally, embracing online bidders, and curating quality offerings to keep sell-through rates in the 80–95% range. Beginner collectors can take confidence that these established houses are continuing to facilitate strong sales, though the approach has shifted from “auction mania” to a more measured, strategic curation of cars.
Key Trends and Notable Sales (2023–2025)
Several important trends emerged in the classic car auction market during this period, ranging from market corrections to demographic shifts and record-breaking sales. Understanding these trends will help new investors grasp where the market stands now.
Post-Pandemic Market Stabilization: The exuberant run-up in collector car prices during 2021–2022 began to level off by 2023. Auction analysts reported a “general slow-down of sales” in 2023 compared to the “bullish years” prior. By mid-2023 and into 2024, the market had undergone what experts called an “overall resetting…to stability” after the massive pandemic-era growth. At the high end, this meant prices plateaued or even pulled back slightly from peak levels. The 2023 Monterey auctions, for instance, grossed about $400M (68% sell-through), which was the second-biggest year ever but still short of 2022’s $473M (78% sell-through). Many cars in Monterey 2023 sold for less than in 2022, and quite a few failed to meet their lofty pre-sale estimates. This pattern – sellers’ expectations adjusting to more cautious bidding – was also observed at other major 2023 events like Scottsdale and Amelia Island. In other words, the rapid appreciation gave way to a healthy correction. The good news: rather than a crash, the market “leveled off” to a sustainable pace, described as “stability replacing rapid growth”. By 2024, Hagerty’s market rating data indicated the collector car market was essentially flat (neither rising nor falling sharply), back to roughly pre-pandemic levels of activity. This cooling-off period has been largely viewed as a welcome correction that “weeded out” pure speculators and ensured that cars sell for values that are easier to justify with fundamentals. For new investors, this more rational market means you are less likely to encounter the extreme bidding wars on ordinary cars that were common a couple of years ago.
Continued Record Sales at the Top: Despite the overall market moderation, the very best and rarest cars still commanded record-breaking prices. Collectors with means are willing to pay a premium for “once-in-a-lifetime” cars, and auctions remain the stage for such headline sales. Aside from the Ferrari 330 GTO mentioned earlier, late 2023 saw RM Sotheby’s sell Lewis Hamilton’s 2013 Mercedes F1 car for $18.8 million, making it the most valuable modern-era Formula 1 car ever sold. Bonhams’ sale of the 1967 Ferrari 412P for $30.3 million in 2023 was among the most expensive auction sales of the decade. Gooding & Co. achieved over $14 million for a 1938 Alfa Romeo 8C in 2024, and set multiple model records (from pre-war classics to 1990s supercars) in that sale. Other notable sales included a 1903 Mercedes-Simplex 60HP at $12.1M (world record for any antique car) and multimillion-dollar Ferraris and Bugattis in 2024. Bring a Trailer has also seen its share of big-ticket sales online – for example, a 2017 Ferrari LaFerrari Aperta sold for $5.36M in 2022 (the platform’s highest confirmed sale to date), and a Bugatti Chiron brought $4.1M in 2023, reinforcing that even online bidders will pay up for top-tier cars. The lesson: truly exceptional vehicles are largely “market-proof.” Even in a cooler environment, “special cars will always garner top prices in any market”. These blue-chip collectibles often set new benchmarks that in turn buoy seller confidence and grab media attention, which sustains interest in the hobby.
The Rise of Online Auctions: One of the most dramatic shifts in recent years is the ascendancy of online auction platforms relative to traditional live auctions. Even before 2023, sites like Bring a Trailer (BaT) were growing fast, but 2024 marked a tipping point. For the first time, the total number of cars offered online was more than double that of live auctions. In fact, online auction transactions in 2024 outnumbered live transactions by 72% worldwide. Not only are more cars being sold online, the dollar volume of online sales surpassed live auction sales in 2024 for the first time – by about $34 million in North America. This is a remarkable change from just a few years ago when live events (like Pebble Beach) dominated value totals. Bring a Trailer’s growth illustrates this trend: In 2024 BaT facilitated over 45,000 auctions, exceeding $1.5 billion in sales – its third consecutive year over the $1B mark. The site averaged 800+ auctions per week, even reaching 1,000/week during peak times. It also added hundreds of thousands of new users, showing how online platforms are bringing fresh blood into the market. Other online-only sites (Cars & Bids for modern enthusiast cars, Collecting Cars in Europe, etc.) and hybrid models (like RM Sotheby’s “Sealed” private online bids) further expanded the digital marketplace. The convenience of bidding from home, lower logistics costs, and the pandemic-era boost to online transactions all contributed to this permanent shift in buyer behavior. However, it’s important to note that live auctions still dominate the very top-tier sales – none of the 10 most expensive cars in 2024 were sold online. High-end sellers often prefer the curated, high-profile environment of an in-person event for seven- or eight-figure cars, and some buyers feel more comfortable bidding those amounts in the room. Even so, the online vs. live gap has fundamentally closed, and going forward we can expect online platforms to handle an ever-growing share of collector car transactions.
Generational Shifts in Tastes: The demographics of the collector car market are gradually changing, and auction offerings are evolving accordingly. Younger enthusiasts (Gen X, Millennials, and Gen Z) now make up a growing portion of buyers. By 2024, Gen Z (born after 1996) accounted for about 9% of Hagerty’s insurance quotes, nearly triple the share of pre-baby boomers. Combined with Millennials, this under-40 cohort represents roughly 30% of the market by activity – still slightly trailing Gen X and Boomers, but steadily rising. As these younger collectors flex their buying power, we’re seeing cars from the 1980s, 1990s, and 2000s gain significant collectability. Many models once dismissed as “too new” or ordinary have become auction stars if they resonate with younger nostalgia. For example, 1990s Japanese sports cars, vintage SUVs/trucks, early supercars and even modern manual-transmission sports cars have all soared in value. Hagerty created new price indexes for vehicles like vintage trucks, Japanese classics, 1980s–90s “RADwood” era cars, and modern supercars, and found their values over the past five years have climbed 42% to 73% – outpacing traditional segments like 1950s blue-chip classics or Ferraris (which were flat or down in that same period). Bring a Trailer reported that 2000s-era vehicles were the most frequently listed in 2024, with model years 2004–2008 topping the charts. This “modern classic” wave reflects younger buyers gravitating toward the cars they grew up dreaming about – whether that’s a 1980s Lamborghini Countach, a 1995 Acura NSX, or a 2000s BMW M3. Auctions have taken note: more “youngtimer” collectibles are appearing at major sales, and selling for record prices. Broad Arrow’s catalog, for instance, specifically focused on a “younger segment” of cars at its Amelia sale (e.g. a pair of AMG Hammer Mercedes, modern Porsches) and saw strong results from that strategy. The generational shift also means the market is slowly less dominated by 1930s–60s cars beloved by older collectors. While those will always have a place, there is a sense that tastes are expanding. New collectors should feel welcome knowing the definition of “classic” is broadening – it might be a pristine ’95 Toyota Supra or a vintage Bronco that sets the next auction record, not always a Ferrari or Duesenberg.
Market Sentiment: Selective but Strong – A phrase often used to describe the 2023–2024 market is “cautious but healthy.” After the feeding frenzy of prior years, buyers became more selective about what they’ll bid up, but genuinely high-quality or rare cars still sell very well. Industry experts in mid-2024 described the market as “not balanced too strongly in favor of buyer or seller” – essentially more rational and even-keeled than during the pandemic boom. Dave Kinney of the Hagerty Price Guide noted that earlier, “everything [was] selling no matter what… that has scaled way back”, and sellers once again have to price cars attractively and actively court buyers. Another dealer observed the market had become “very, very picky right now” – certain cars in less-than-great condition or with weak provenance might struggle, while the “good stuff” still ignites quick sales. This selectivity was evident in auction results: many mid-tier cars would only sell if priced below estimate, yet exceptional examples of the same model could still spark bidding wars. The upshot is a return to due diligence and realistic pricing, which is ultimately good for newcomers who do their homework. By late 2024, sentiment actually improved slightly as uncertainty waned – some experts felt the market was “in a better place…with increased activity” compared to the hesitant atmosphere of late 2023. Macroeconomic factors like interest rates also played a role in tempering the market. With higher interest costs, speculative flippers largely bowed out, and buyers became more cost-conscious (no more “free money,” as Kinney put it). Many saw this as removing artificial froth and ensuring the people buying are true enthusiasts or long-term investors. In short, market mood went from euphoria to cautious optimism. For a beginner, this means you’re stepping into a market that is more predictable and transparent than a couple years ago – certainly still competitive, but less likely to produce baffling sale prices.
These trends together define the current landscape of classic car auctions. A cooling in overall growth, but strength at the top; a surge of online activity; new blood influencing what’s collectible; and a vibe of careful confidence. Next, we’ll see how auction results feed back into prices and collector sentiment, and then dive into practical pros and cons of using auctions as a buyer or seller.
How Auctions Influence Classic Car Prices and Market Sentiment
High-profile auctions don’t just reflect the market – they actively shape it. For collectors and investors, the auction arena is often where “market value” is established for rare vehicles. Here are a few ways auctions influence prices and sentiment:
Price Discovery and Benchmarks: Auctions provide very public price discovery. When a certain model sells at auction, especially at a well-publicized event, that sale price becomes a reference point for buyers and sellers worldwide. For example, when Gooding sold a 1912 Simplex for a record price in 2023 or RM Sotheby’s sold a Ferrari 250 GTO for $51.7M, those results set benchmarks. Sellers of similar cars may raise their asking prices, citing the auction result, while buyers use those numbers in their valuation calculations. Auction houses often publish prices realized lists that become data for price guides and insurance valuations. Essentially, auctions are market-making events – a strong sale can boost the perceived value of a model overnight. Conversely, if a high-profile lot fails to sell (or sells below estimate), it can cast doubt on the market strength for that car. We saw this in 2023 when many auction cars fell short of estimates – it signaled that sellers might need to adjust expectations. In this way, auctions serve as a reality check for values, in real-time.
Market Sentiment Barometer: The tone of major auction weekends (Scottsdale in January, Amelia in March, Monterey in August, etc.) often sets the mood for the collector car market each year. A string of robust sales with high sell-through rates creates buzz that “the market is hot,” attracting more buyers and sellers into the fray. On the other hand, if a usually strong auction sees many no-sales or price reductions, it can introduce caution. For instance, the lower sell-through at Monterey 2023 (68% vs 78% prior year) gave a clear signal that the market was tapping the brakes. Enthusiast media and forums light up with analysis of auction results, which in turn influences buyer psychology. In recent years, auction companies have achieved sell-through rates north of 80-90% in many events, which they tout as a sign of a robust market (high sell-through indicates most sellers and buyers are reaching deals). If those rates dip significantly, it would likely be seen as an indicator of oversupply or waning demand. Thus, auctions are akin to quarterly earnings reports for the collector car market – closely watched and impactful on confidence.
Trend Setting and Tastes: Auction results can validate emerging trends. When an unexpected model catches a high price at auction, it often reveals a shift in tastes. For example, if a low-mileage 1980s Japanese sports car hammers at an unprecedented number, it confirms that category has “arrived” as collectible. Auction catalogs themselves respond to market feedback by featuring more of what’s hot. In the early 2010s, very few Radwood-era (1980s–90s) cars were in Pebble Beach auctions; by 2025, it’s common to see some in prime slots. This creates a feedback loop: auctions put a spotlight on new collectable segments, which spurs interest and higher prices for those cars in private sales too. The fact that “cars previously not considered collectible have been appearing at more auctions – many selling for record prices” demonstrates how auctions drive the narrative of what’s desirable.
Immediate Sale and Liquidity: For the market as a whole, auctions add liquidity. They bring many buyers and sellers together at once, resulting in thousands of transactions annually that might not happen otherwise. This liquidity means more price data and often quicker sales than private treaty, which helps prevent stagnation. It also means that when market sentiment changes, auctions transmit that change quickly. In a rising market, auction prices can escalate rapidly as bidders compete; in a softening market, auction reserves get lowered or no-sales rise just as fast. In essence, auctions amplify market movements – both up and down.
Media and Public Perception: Auctions, especially marquee ones like RM Sotheby’s Monterey or Barrett-Jackson Scottsdale, often get mainstream media coverage. A record sale of a classic Ferrari might make headline news on financial publications, not just car blogs. This wider exposure can attract new investors who weren’t previously involved in car collecting. It also reinforces the idea of collector cars as an alternative investment class when people see multi-million-dollar results splashed across headlines. The glitz and glamour of live auctions (auctioneers shouting, big screens, thrilled consignors) also feed the excitement and aspirational aspect of the hobby. Public perception of the market’s health is often shaped by these high-visibility moments.
In summary, auctions do more than sell cars – they set the tone, provide pricing benchmarks, and validate trends in the classic car world. If you’re entering this market, paying attention to auction outcomes is crucial for understanding what your target cars are worth and how sentiment might be shifting. Just remember that one result doesn’t tell the whole story; look at overall patterns across several auctions to gauge momentum.
Pros and Cons of Buying and Selling at Auction
Should you buy or sell a classic car at auction? It’s a common question, especially for newcomers. Auctions offer a unique venue that can be advantageous in some ways and challenging in others. Let’s break down the pros and cons for both buyers and sellers in today’s auction environment:
Pros of Buying at Auction
Wide Selection and Rarity: Auctions often assemble a broad array of vehicles in one place (physical or online). As a buyer, you get access to rare cars that you might otherwise never find in private listings. Major houses curate collections from around the world – whether you’re hunting a vintage Aston Martin or a limited-edition modern hypercar, chances are an auction is where it will surface.
Cons of Buying at Auction
Buyer Premiums and Fees: Remember that the hammer price is not your total price. Auction buyers pay a premium, typically around 10% of the bid (live auctions often charge 10–15%, online platforms around 5% or a flat fee). For example, a winning bid of $100,000 might actually cost $110,000 after premium. This can significantly add to your cost and must be budgeted. There may also be administrative fees, transportation, and in some cases sales tax/VAT depending on the location.
High-Pressure Environment: Auctions create urgency – you often have mere seconds to decide on a higher bid. This pressure can lead to impulsive bidding or “auction fever,” where emotion overrides judgment. It’s easy to get caught up and bid beyond your initial limit. Beginners need discipline to avoid overpaying in the heat of the moment. In online auctions, the pressure is slightly different (countdown clocks and last-minute bid extensions) but the competitive tension remains.
Limited Inspection and Uncertainty: In a private sale, you might test drive the car, take it to a mechanic, or spend hours inspecting it. Auction buying usually doesn’t afford that depth of inspection. You often rely on a brief preview or photos and descriptions. Cars are sold “as is”, with no guarantee after the hammer falls. While major houses try to honestly represent cars, undisclosed issues can sometimes emerge. Online auctions allow questions to the seller, but you’re still largely trusting the provided info. This means a risk that the car may need unanticipated repairs or have flaws you didn’t catch in time.
Strong Competition for Top Cars: If you’re targeting a very popular model or one of the “star” lots, be prepared for stiff competition from other bidders. Auctions gather the most interested parties together, which can drive the price to top-dollar. There’s rarely an opportunity to negotiate a lower price in an auction setting – the market sets it. Therefore, you might end up paying a premium vs. a quiet private sale where fewer buyers are vying for the car.
Logistics and Travel: For live auctions, factor in the cost and hassle of attending (travel, lodging, time off). If you win, you have to arrange transport for the vehicle relatively quickly. Some international auctions might require dealing with import/export. Online auctions avoid the travel but you may still have shipping logistics from a distant seller. These logistical considerations can add cost or complexity to the buying process.
Pros of Selling at Auction
Global Audience and Marketing: Auction houses offer sellers a global stage. They handle advertising the car to their network of thousands of collectors, include it in glossy catalogs, and feature it at a high-traffic event or website. This means far greater exposure than a private listing. The right buyers – even halfway around the world – may see your car. A well-marketed auction lot can create a buzz, sometimes resulting in a bidding war that drives the price above your expectations.
Competitive Bidding Can Boost Price: The auction format, by its nature, can push the price higher if two or more bidders really want your car. That competitive spirit and fear-of-missing-out often lead to prices that a single buyer in a one-on-one negotiation might not offer. If your car has broad appeal or two determined bidders, an auction can yield top-of-market or even record prices on the day.
Quick Sale and Clear Terms: When you consign to an auction, the sale (if it happens) is typically completed within a known timeframe – the auction date or a fixed online auction period. This is often much faster than fielding inquiries for months in private sale. If the car sells, you usually get paid soon after. The terms (like commission, reserve price, etc.) are set in advance, so the process is straightforward. There’s no haggling after the fact; the auction hammer is final and the buyer is contractually bound to pay. This certainty and speed can be worth a lot to sellers who don’t want an open-ended selling process.
Auction House Handles Transaction Logistics: The auction company typically manages the transaction paperwork, payment collection, and sometimes transportation (at least from seller to auction site). They also often handle verifying buyer funds. This can reduce the hassle and risk for you as a seller – you’re not dealing with tire-kickers or fraud concerns directly. Post-sale, they deliver you the proceeds minus fees. It’s a relatively turnkey service, especially with reputable houses.
Prestige and Networking: Selling at a renowned auction (like Pebble Beach or Amelia Island) can add prestige to your car’s story – “sold at Gooding Pebble Beach 2024” is a nice footnote for provenance. For certain special cars, an auction might actually be the best venue to realize its value because it places the sale in a storied context. Additionally, auctions are social events; as a consignor you might attend and network with other collectors and buyers, potentially making connections for future sales or acquisitions.
Cons of Selling at Auction
Seller Fees and Commission: Auction houses charge sellers a commission, often around 5–10% of the sale price, or a flat consignment fee (online platforms might charge listing fees, typically a few hundred dollars, and some take a percentage of the final price too). While buyers pay a premium, sellers also lose a cut of the hammer price to the auction house. For example, if your car sells for $100,000 and the commission is 8%, you’ll pay $8,000 to the house. Some high-end auctions may negotiate fees for valuable cars, but in general this is a real cost to factor in. If the car doesn’t sell (fails to meet reserve), you may still owe an entry fee or transport costs.
Risk of No Sale (or Selling Below Expectation): There’s always a chance your car may not meet its reserve price (the minimum you set) and thus not sell. While you keep the car, you’ve now spent time and money preparing for the auction with no result, and the car’s failure to sell is public information which can deter future buyers. If you choose to go no-reserve to guarantee a sale, you risk it selling for a low price if bidders don’t materialize. In a softer market, even quality cars might hammer below their pre-sale estimates. As noted in 2023’s major auctions, “buyers are not meeting sellers’ expectations for sale prices” in many cases, meaning some sellers had to accept the reality of lower bids or take the car home unsold. Thus, auctions can be a gamble – you might be stuck with an unsold car or a lower price than you wanted.
Preparation and Presentation Costs: To maximize auction success, sellers often invest in detailing, minor reconditioning, professional photography, and sometimes transporting the car to the auction venue. There’s also the opportunity cost of time the car is off-market while being consigned. These costs (some paid to third parties, some to the auction for catalog listing) can add up. If your car is on the other side of the country from the auction, you might ship it there weeks in advance. While the auction house might help coordinate, the prep is not effortless on the seller’s part, especially for live auctions.
Loss of Negotiation Control: Once your car is on the block, you lose control over the negotiation process. You can’t vet the buyers or choose who you sell to – the highest bidder wins, period. You also can’t change your mind last-minute (at least not without penalties) if you decide to keep the car or if bidding is lower than hoped. In a private sale, you could always walk away or wait for a better offer; in an auction, unless it fails to hit reserve, the decision is made in seconds. This lack of flexibility means you must be fully committed to selling under the auction’s terms.
Market Timing and Dependency: Your car’s fate might depend on external factors like the auction’s schedule, the lot number, or what else is being sold alongside it. If your car is Lot 1 on a sleepy morning or buried late in a long sale, it might get less attention than if it were a prime-time lot. Also, if the overall auction week has a pessimistic tone (e.g., stock market down that week or bad weather affecting attendance), it could affect bidding on your car. So there’s a bit of luck involved regarding when and how your car is offered – factors largely outside your control.
Is Now (2025) a Good Time to Buy or Sell at Auction?
With the market changes discussed, many newcomers wonder if it’s currently a favorable moment to enter the auction market as a buyer or seller. The answer isn’t a simple yes or no – it depends on your goals and the specific car in question – but we can outline the general climate:
For Buyers: The current market (circa 2024–2025) is arguably better for buyers than the ultra-hot market of 2021–22. The frenzy has cooled, meaning fewer irrational bidding wars on most cars and more chances to buy at fair prices. As experts have noted, the market has become “rational” and “not too strongly in favor of buyer or seller”. This balance implies you won’t be routinely overpaying just to compete, as long as you bid carefully. In 2023–24 many cars saw price corrections, especially those that spiked in the pandemic – in fact, “recently appreciated stuff is the first to depreciate”, meaning some trendy models from a couple years ago have come back to earth. If you had your eye on a car that shot up 50% in value in 2021, there’s a chance it’s now available at a bit less than the peak, which is good news for buyers. Additionally, the explosion of online auctions gives buyers more selection than ever – you’re no longer limited to a few big auctions a year. At any given time, dozens of interesting cars are open for bidding online, so patient buyers can often find what they want without waiting a year for an event.
However, it’s not a pure buyer’s market either. Quality, rare cars are still in demand and often still command top dollar. The very best examples likely won’t be “cheap” anytime soon (they’re selling for more than ever, in many cases). But you may have an easier time finding a good example of a collectible at a reasonable price now that speculators have left and inventory has increased. Higher interest rates as of 2024 mean fewer people are leveraging cheap loans to buy toys, which removes some competition. Overall, if you’re a genuine enthusiast or long-term investor, now is a healthy time to buy – prices are off peak highs for many segments, the selection is broad, and the market is more transparent. Just approach each auction with research and caution, as always.
For Sellers: It’s a more nuanced picture. The market isn’t as undeniably a seller’s market as it was when everything was climbing in value each auction. That said, it’s still strong and active. Cars are selling – recall that many auctions reported 80-90% sell-through, meaning buyers are certainly out there. If you have a blue-chip or highly desirable car, it is still a good time to sell; the wealthy collectors haven’t gone away and are paying record prices for the right cars (auction records continue to be broken in 2023–25). Gooding’s president noted in 2023 that “the market is especially strong for the uppermost echelon of offerings” – in other words, top-tier cars find eager buyers even in a cooler overall market. So selling a truly exceptional car at auction now could very well yield an outstanding result, as recent sales have shown.
If your car is more of a mid-tier collectible or an enthusiast car, you need to be realistic on pricing. It likely won’t bring what it might have at the market top, but values are generally still above pre-2020 levels for most classics, so you may still come out ahead if you’ve owned the car for a while. A “good” time to sell also depends on whether you need to. If you’re selling to capitalize on a high valuation, check the latest price guides and auction comps to ensure the model hasn’t trended down. Many models are flat or slightly down from 2022 peaks, but not plummeting. If your car’s segment (say, 1980s exotics, or pre-war American cars) is currently less in vogue, you might consider holding off or be prepared to accept a bit less. On the flip side, some segments like 1990s sports cars or rare modern exotics are still trending upward due to younger buyers – those might fetch even more if you wait a year or two as those buyers gain spending power.
Another consideration: With the greater role of online auctions, you as a seller have more flexibility on when and how to sell. You don’t have to wait for a big annual auction; you can choose an online platform and list almost any time. This means timing the market is slightly easier – if the economy is in a dip or it’s off-season, you might choose to wait for spring or for a particular event that suits your car. The broad trend is that 2025 has started with mixed metrics but generally solid demand. There isn’t evidence of an impending large downturn in values; rather, most experts predict a continued gradual market with certain cars appreciating and others declining modestly depending on collector interests.
In summary, it’s neither a universally amazing nor a terrible time to buy or sell – it’s a stable time. Buyers benefit from more choice and calmer prices than a couple years ago, while sellers can still achieve strong results if they bring quality and set fair reserves. The best strategy for either side is to be informed: know the recent auction results for your car’s model, watch comparable sales, and perhaps start with online auctions (which have lower overhead) if you’re testing the waters. For beginners, this balanced market is actually fortuitous – you can learn and participate without the extreme pressure of a red-hot market or the fear of a crashing one.
Future Outlook: What’s Next for Classic Car Auctions?
Looking ahead, several factors are poised to shape the future of classic car auctions. While crystal balls are always cloudy, current indicators suggest the following trends and influences will be important in the coming years:
Continued Growth of Online and Hybrid Auctions
The trajectory of online auction platforms is likely to continue upward. Younger collectors, in particular, are very comfortable buying big-ticket cars online. Bring a Trailer’s record-smashing 2024 (over $1.5B in sales) sets the stage for further expansion. We can expect online platforms to introduce new features to make remote buying even easier – for example, more thorough inspection reports, authentication services, or perhaps even VR showrooms to virtually examine cars. Traditional auction houses are also adapting by offering hybrid auctions: live events with simultaneous online bidding, “sealed bid” auctions for elite cars (as RM Sotheby’s has done), and even entirely online catalogs between major events.
That said, in-person auctions will not disappear. They remain social and experiential anchors of car collecting. Enthusiasts and high-net-worth individuals still relish the Concours-week auction as part of the hobby’s culture. Expect the top auction houses to double down on making live events more of an experience – think boutique auctions at exclusive locations, tie-ins with car rallies or concours, and VIP hospitality to entice bidders to attend. The future likely sees a complementary ecosystem: online for volume and convenience, live for marquee sales and community gathering. In fact, by 2025 we’re already seeing auction firms partner with lifestyle events (Broad Arrow running the official Amelia Concours auction, RM Sotheby’s adding a Miami auction alongside an art weekend, etc.). The line between online and offline will blur – with live auctions incorporating more digital engagement (streaming to millions, as Broad Arrow did in 2025) and online platforms perhaps holding occasional in-person previews or pop-up events.
Changing Collector Demographics and Preferences
As discussed, Gen X and Millennials are ascending in the collector car world, and Gen Z is not far behind. Over the next decade, this will significantly influence auction dockets. Expect to see more modern classics, youngtimers, and even cars from the 2000s-2010s crossing the block. The definition of “classic” will keep evolving – by 2030, a 1990 car will be 40 years old! Auction houses, especially newer ones like Broad Arrow, are already curating catalogs for the “next generation.” We will likely see auctions dedicated to specific eras or themes (for example, a ’80s/’90s nostalgia auction, or sales focusing on JDM cars).
Meanwhile, as Boomers age, some categories may become less prominent at auctions – we might see fewer pre-war American cars or 1950s cruisers unless they are the very top examples, simply because the buyer base is shrinking. However, certain timeless segments (Ferraris, Porsches, etc.) appeal across generations, so those will remain staples. Also, more estates and collections from older enthusiasts will come to market, which could mean some supply gluts in certain areas but also opportunities for younger buyers to acquire cars their predecessors preserved.
There is also a potential trend of younger enthusiasts valuing usability – they might prefer a classic they can drive and enjoy (say a 1980s Porsche) over a museum piece. Auction houses may cater to this by highlighting well-sorted drivers and not only concours queens. Additionally, we may see more memorabilia, automobilia, and even modern collectibles (like supercar build slots or OEM heritage parts) in auctions, diversifying beyond just cars, which appeals to a broader car culture audience.
Technological and Environmental Factors
Technology will influence both the auction process and the cars themselves. Digital bidding tools and data analytics (for pricing, estimating, etc.) will get more sophisticated. We might see AI-driven price estimates, or more integration of auction data into pricing guides in real time. For buyers, tools to inspect cars remotely (maybe robots or 3D scans) could become commonplace to reduce uncertainty.
On the vehicles front, one looming question is electrification and regulation. While the core of the collector market is internal combustion classics, the march towards electric vehicles in new car production raises questions: Will today’s modern supercars (many of which are hybrid or even EV) become part of tomorrow’s collector auctions? It’s quite possible – in fact, a Tesla Roadster or first-gen Tesla Model S might show up as a curiosity at auction in the near future. More likely in the short term, the hypercar hybrids (LaFerrari, Porsche 918, McLaren P1) are already auction fixtures, and as EV tech improves, even purely electric exotics (Rimac Nevera, etc.) could eventually cross the block as rare collectibles of their era.
Regulatory influences include environmental rules that could restrict use of classic cars (emission zones, gasoline availability in the far future) – these could have a chilling effect on values if collectors worry they can’t enjoy their cars. However, most signs indicate that governments carve out exemptions for classic/hobbyist vehicles given their minimal usage. There may be increased scrutiny on import/export and tax implications of high-value car sales (anti-money laundering regulations are already in play requiring auction houses to vet buyers of very high amounts). This could add some compliance burden but also further legitimize and professionalize the auction process, reassuring serious investors.
One interesting aspect is that classic cars are increasingly seen as functional art. The involvement of Christie’s buying Gooding & Co. hints that art auction houses see collector cars as an extension of their fine art business. We might see more cross-over events (for example, a Ferrari sold alongside paintings in a “luxury assets” sale) and possibly more institutional collectors entering the fray. This could be a positive for values, but it also might invite potential regulation similar to the art world (where there’s talk of freeports, capital gains taxes, etc.).
Market Globalization and Expansion
The collector car auction market is becoming more global. We’ve seen auction houses setting up sales in the Middle East (RM in Dubai, Bonhams and others also looking at new regions) and Asia. Enthusiasts from emerging markets like China, India, and the Middle East are growing segments of bidders (RM Sotheby’s noted clients from 54 countries in 2024 and over half of their bidders in 2024 were new to the company). This globalization means new demand for certain cars – for instance, Japanese collectors might drive up JDM car prices, Middle Eastern collectors have shown interest in both vintage exotics and modern supercars, etc. Auction houses are tailoring offerings to these audiences and even holding events in those locales. For new collectors, this means more opportunities but also potentially more competition on the global stage for the most desirable cars.
At the same time, logistics and currency fluctuations could play a role. A strong dollar vs. euro (or vice versa) can influence whether international buyers find US auctions attractive, for example. So global economic conditions will interweave with auction outcomes more as the buyer base broadens.
The “Experience” Economy and Auctions
Lastly, the future auctions will likely emphasize the experience. We’re already seeing auctions integrated into car festivals, rally events, or weeklong automotive celebrations. Younger generations value experiences, so auction companies might offer more than just a sale – maybe driving tours for bidders, virtual reality previews, or interactive social media components. Charity auctions (like those Barrett-Jackson often does) will continue to be a feel-good feature that also draws publicity.
We might also see smaller, highly curated auctions that cater to a specific niche community, much like how art auctions sometimes focus on a single collection. For example, an auction of a single revered collection (like RM’s 2024 “Dare to Dream” sale which was a single-owner collection that made $69M) can itself be an event. With many significant collections likely coming to market as owners age, the auction format will remain a prime way to handle estates and large troves of cars in the future.
In conclusion, the classic car auction scene from 2023 to 2025 is one of dynamic change but enduring appeal. Major houses are thriving by adapting – whether through record sales of iconic Ferraris or by embracing online bidders across the globe. The market has matured from the dizzy heights of the pandemic boom into a more balanced, discerning phase, which actually creates a healthier environment for newcomers. As a beginner investor or collector, you’re stepping into a field where knowledge is rewarded: follow the trends, watch the sales, and you’ll see that while technologies and tastes evolve, the passion for collector cars remains strong. Whether you buy at a click of a button online or raise a paddle in an auction tent, the key is to stay informed and enjoy the process. With generational transitions and innovation steering the future, classic car auctions should continue to be exciting venues for buying and selling rolling automotive history for years to come.
Sources: Recent performance data and trends have been drawn from credible industry analyses and reports, including Hagerty’s market trend updates, auction house press releases, and collector car market reviews, among others. These sources reflect the latest insights as of 2025 into how auction houses are faring and where the collector car market is headed. Photos courtesy of RM Sotheby’s / Darin Schnabel.
