According to your CEO, bring a trailer, the classic classic car market online, sold a car of cars worth $ 1.5 billion despite a continuous fall in classic cars prices.
The company had 45,000 auctions in 2024 divided between cars, trucks, motorcycles, memories and pieces, and had more than 1.3 million bidders.
“With the stock market and the money that flowed, we had a good speed,” said Randy Nonnenberg, co -founder and president of Train to Trailer, which is part of Hearst Auto.
The strong results for BAT challenged the broader deceleration in the classic car market. Higher interest rates have made classical cars less attractive as investments, since collectors can now make 4% or 5% in cash equivalents without risks. Total sales at Classic Live car auctions last year fell 11%, to $ 2.18 billion, according to Hagerty, the classic car insurance company and auctions.
At the same time, the Baby Boomers, which promoted the collector market for decades, are now aging. Many are selling their collections, leaving an excess supply of vehicles from the fifties and sixties of the sixties that are less attractive to the new generation of collectors.
The boom in older trucks and SUV has also worked, Nonnenberg said.
“Much of that was seen as a Covid bubble, and that cooled,” he said.
The new generation of collectors likes modern supercar and sports cars, especially the models that are 2005 or later, according to classic cars experts.
Nonnenberg said today’s younger collectors, including Gen Xers, Millennials and members of the Z Generation, “as well as the cars they can use, where they can turn the key and simply drive it. They are less fans. “
The upper market, with seven -digit cars or eight figures, also remains weak. Collectors are more interested in less expensive cars that can drive and enjoy today than to buy museum quality artifacts found in a beautiful garage exhibition.
“The market is super strong for high -end sports cars in the range of $ 200,000 to $ 500,000,” Nonnenberg said. “Cars of more than $ 2 million have had a more difficult time,” Nonnenberg added.
The most expensive car sold in Bat last year was a 2022 sport bugatti chiron pur that was $ 4.1 million. A 2018 Bugatti Chiron were also sold for $ 3.1 million and a Lamborghini Countach LPI 800-4 2022 that cost $ 2.5 million.
The most popular auction, attracting the majority of bidders, comments and points of view, was the sale of a 1991 6 -speed BMW 850i that was bought new and once owned by Michael Jordan. The sale price: $ 109,000.
Nonnenberg said he saw a great leap in offers and demand just after the elections, which continued until December and January, which are usually slow months.
“We saw people who bought $ 250,000 porsches on the day of the elections,” he said. “And we even saw incredible things that are sold on Christmas Eve.”
