Collector Car Portfolios Require Rigorous Carry Cost Documentation as Holding Periods Lengthen

The strength in the classic-car market is expected to continue in 2026, Hagerty CEO McKeel Hagerty told CNBC. The biggest driver is a new generation of collectors, who are more comfortable buying online, with online classic-car sales surging 12% this year to $2.5 billion, according to Hagerty. Younger buyers also want younger cars, and high-performance supercars of the '90s and later are drawing more interest. A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. The strength in the classic-car market is expected to continue in 2026 as a new generation of collectors revs up demand, said the CEO of Hagerty. Auctions and online sales of collectible cars surged 10% in 2025 to $4.8 billion, according to Hagerty, the classic-car insurance company and collector platform. Hagerty CEO McKeel Hagerty said 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 take place of very significant cars, of all kinds, of all 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 downsize,

Following a volatile period between 2020 and 2023, the collector car market in 2025 has settled into a new normal. Wild price swings have been replaced by more modest changes and ultimately more sustainable conditions, which should be welcome news for enthusiasts, if not newer investors. Here are four charts from Hagerty that help tell the story. From 2023 through 2024, the collector car market gave back a lot of its COVID-era gains. That retreat has continued in 2025, but monthly changes are increasingly smaller, according to the Hagerty Market Index. Although the market is now right around the same level it was at the beginning of 2022, it appears to be locking into a new level. As the market settles, pricing has become more predictable. The average auction sale price is essentially unchanged from a year ago, as is the average asking price from collector car dealers. Even though the average list price has fallen 9% from its 2023 highwater mark, monthly adjustments so far this year have been much smaller compared to 2024. Again, the cooling market appears to be settling into stability. Even though the market is settling, buyers aren’t. Some dealers call it “selectivity”, others call it “patience” or “pickiness”, but no matter how you view it, more consistent pricing has resulted in reduced urgency. Enthusiasts have noticed that the market is equalizing, and they are willing to

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