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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.

Prepared by Christopher Adams and reviewed by editorial team.