Every year in mid-August, the classic car collecting community turns its attention to Pebble Beach for the most important car auctions of the year. With more than a few high profile multi-million dollar sales, 2025 didn’t disappoint. According to Hagerty, sales reached their second largest cumulative total ever, a whopping $432.8 M.
Look beyond the headlines made by a couple of $20M Ferraris and a handful of hypercars, however, and there are a few trends that may be worth watching for classic car lovers and investors alike.
We spoke to auction expert and editor of Classic Cars Journal, Andy Reid, to get his expert analysis on this year’s action and what it means for future values.
Drivers Wanted
Gone are the days when collectors bought cars to store and display. More and more cars sold at auction are being sold to drivers. According to Reid, “People who want to take their cars to club events, on historic drives like the California Mille, or enter them in shows.” A shining example of this trend is the 1960 Porsche 718 Spyder sold by RM Sotheby’s eclipsed $3.5M.
Cars that are trackable also continue to see their values climb. 1985 Audi Sport Quattro S1 E2, with a significant Group B racing pedigree sold for $1.7M. A 1968 Alfa Romeo T33/2 ‘Daytona’, one of the most beautiful race cars ever built, fetched $1.16M. Even more recent racers brought numbers well above expectations. A 2019 BMW M8 GTE, a class-winner at the 2020 Rolex 24 at Daytona, hammered at a healthy $1.435M.
The cars that hold their value in this class, Andy says, are the great cars. Pristinely maintained vehicles with a great pedigree. Nice cars that may have attracted top dollar a few years ago, have not appreciated and may have seen their peak.
Blue Chip Bonanza
Some names just never seem to fade when it comes to the interest of investors. At the top of that list is, of course, Ferrari. Eight of the ten most expensive cars sold at Monterey this year hailed from Modena, including the 2025 SP3 Daytona which was sold for a breathtaking $26M by RM Sotheby’s. Gooding Christie’s had a winner in the short wheelbase 1961 250 GT. What marked both of these cars as special is rarity. Even more common Ferraris are holding their value or appreciating.
Other brands that seem to be holding up well won’t come as a surprise. Vintage Aston Martins did well this year, as have BMWs. Porsche 911s seem to be holding up, especially the higher performance versions. On the flip side, the market for Mercedes-Benz SL cars does seem to be softening.
Hypercar Hysteria
No category demonstrated the radical demographic shift that’s underway in the collector car industry than Hypercars. They have all the hallmarks that collectors look for. They’re rare, produced in low double digit numbers. They’re stunning. Shaped to achieve speeds that were unattainable just a few decades ago, these cars stand out. Bugatti Divo, Koenigsegg CCXR, Maserati MC-12 Stradale, all brought top dollar based on their looks, they’re performance, their rarity, and their legend.
As Reid told us, “Anything with gull-wing and scissor doors still seems to capture the imagination of today’s collectors.” From the legends of the past like the Mercedes 300 and Lamborghini Countach, to modern masterpieces like the Ford GT and Pagani Huayra have seen their values continue to climb over the past few years.
Are The Boomers Going Bust
For the past 20 years one of the most reliable categories for collectors has been 1960s and ’70s muscle cars as baby boomers acquired the cars they lusted after in their youth. As this generation is aging into their 70s, “They’re looking to get rid of things,” said Reid, “ not buy more.” The result is that cracks are starting to appear in the foundation of this segment.
One big loud data point was the 1970 Boss 302 Mustang offered by Gooding Christie’s. This car is about as good as it gets in the category. It was ordered with all the right equipment. It was restored by one of the best in the business. It’s color is the one you want, modeled after the famous Bud Moore Trans-Am Mustangs driven by Parnelli Jones and George Follmer. This car sold for just $84,000, well below the low-end of it’s $120,000-$150,000 pre-auction estimate.
Mid-Century Mysteries
As values of hypercars and driveable future classics continue to rise, the cars made before 1950 are losing their luster. In total at Monterey, 60% of the cars on offer in this category failed to reach the minimum of their pre-auction estimate.
Of course there are exceptions to the rule like the 1931 Bentley 8-Litre Sports Coupe Cabriolet by Barker that sold for $2.2M. But a great example of this trend is a gorgeous, award-winning 1947 Ford Super DeLuxe “Woodie” Sportsman that sold for just $117,000 more than $50,000 below its estimate. The good news? If you’re in the market for one of these cars, they’re available at prices that would have been unheard of two years ago. Just don’t count on them appreciating much in the years ahead.