It’s incredible to think that the first half of 2025 is already behind us. It’s a good time to reflect on many things, but in today’s Market Monday we’ll be looking at the state of the collector car market. The industry has recently released several reports taking stock of the market as we prepare to enter the back half of the year and the big live sales events of Monterey Car Week. I’ve read what’s been released and will do my best to summarize my takeaways from the opinions of both Hagerty and Classic.com, two powerhouse sources for industry data.

By mid‑2025, the collector‑car market has largely returned to pre‑pandemic levels. Hagerty’s Market Rating is now in the high 50s—the lowest since November 2020—signaling a substantial cooling from the hyper‑heated values of 2021–2022.

While high prices have softened, other pandemic-related shifts have more long-lasting impact. For example, the boom in online auctions feels very permanent, thanks to our becoming generally more comfortable with buying things sight-unseen. The number of live collector auctions held has returned to pre-pandemic levels, but online auctions are still doing 500% more volume compared to 2019.

One clear signal of a return to a more stable market: flipping cars for quick profit is losing its edge. Hagerty’s repeat‑sales data shows that returns on fast re‑sales have shrunk sharply, discouraging short‑turn strategies and reducing speculative activity.

Industry professionals echo this: fewer flips and lower returns confirm a softer, more stable market, where long‑term holders—or those buying for enjoyment—fare better than short‑term arbitrageurs. In short, sellers trying to catch rapid gains are finding diminishing returns; it’s now more about patience, story, and provenance than turning stock.

Across price tiers, buyers hold more negotiation power than in the past few years as we can see in this data just released from Classic.com:

In the sub‑$50K market, nearly 28,000 cars traded for a combined ~$547 million in H1 2025—slightly ahead of last year. But reduced inventory and tighter venues mean that deals are aplenty only if prices are realistic. Listings with unrealistic pricing often fail to sell.

In the $50K–100K tier, total sales were around $419 million across nearly 6,000 cars, narrowly ahead of 2024. The average transaction hovers near $70K. With fewer cars listed and more selling quickly online, pricing discipline is more critical than ever.

Within $100K–500K, activity is busy but calm: liquidity remains strong, average prices are effectively flat, and swings are driven by a small number of standout transactions.

Even in these mid‑segments, buyers can choose from selective inventories and expect modest downward pressure if a car is overpriced or costly to maintain.

The shift in what buyers want is clear—and it’s reshaping values:

Softer pricing and lagging demand for high‑maintenance 1950s and ’60s classics, especially those with limited usability or excessive running costs, have created slumping indices within those markets.

Meanwhile, 1990s to early 2000s models—convertibles, two‑door sports cars, and early modern classics—are gaining ground. These late‑analog, driver‑focused cars are small‑production, usable, and immune from the supply constraints of older cars. Many are hitting the 25‑year rule milestone for import/insurance eligibility, increasing their appeal.

According to Hagerty, a significant shift toward younger vehicles and nostalgia‑driven segments suggests that collectors are prioritizing cars they know and can drive, not just museum pieces.

Overall, the result is value erosion in over‑hyped vintage categories with maintenance liability—and rising momentum for modestly rare, usable cars from later eras.

Across upper‑tiers ($500K–$1M), the one theme consistently driving growth is drivable scarcity—rare cars that can still be enjoyed on the road, not just stored or shown. Classic.com reports record liquidity in this tier: dollar volume and units sold exceeded the prior 2023 peaks. Prices rose just ~1%, reflecting realistic pricing amidst strong demand for these usable rarities.

Examples include 1960s Italian/British GTs such as the Ferrari 365 GTC and modern exotics such as the McLaren SLR—cars people want to drive, not just park.

For those that have lamented the speculative market we’ve found ourselves in for years, rejoice! Things are much more stable — with more cars available and less turnover — meaning you can take the time to find the right car for you.

Prices are still high for the best cars, however. Fortunately, it seems that the market could be shifting in some ways to favor the DIY enthusiast. Yes, parts are more pricey and scarce than before for some cars and the tariff uncertainty doesn’t help matters, but a shift away from maintenance-heavy cars could depress prices for those vehicles and make them more achievable for those of us that turn our own wrenches.

It also means that those cars may be less attractive to the dealer-flippers eager to invest the least amount of money in a car to turn it around quickly for resale. If, like me, you enjoy tinkering with cars and improving them in a way that can generate a modest longer-term return, things are looking up.

Have a great week, everyone!

Wolf and Mare provides car finding, appraisals, and auction services for buyers and sellers of collector European cars. If you’re interested in acquiring an overseas car, give us a call or drop a line!