Classic Car Market Slows Amid Generational Shift | JQJO

The Monterey Car Week auctions, a major event for classic car collectors, saw a decline in sales this year. Total sales are projected between $367 million and $409 million, down from $471 million in 2022. The high-end market is particularly weak, with fewer cars priced over $10 million than in previous years. Experts attribute this to global uncertainty, higher interest rates, and a generational shift, with younger collectors favoring newer cars. While sales of classic cars from the 1950s and 60s are down, the market for modern supercars is booming.