Now, they’re reaching the age where they’re looking to sell their prized possessions. This is creating a huge demand for classic cars, driving up prices and creating a seller’s market. The classic car market is experiencing a surge in popularity, driven by several factors. One of the biggest is the rise of social media and online platforms. Platforms like Instagram and YouTube have made it easier than ever to showcase and share classic car photos and videos, creating a massive online community of enthusiasts. This has led to a surge in interest and demand for classic cars. Another factor contributing to the boom is the growing popularity of vintage and retro aesthetics.

100 of those were sold, representing a 6% increase from last year. This year’s Monterey Car Week saw a significant shift in the market, with a notable decline in the sale of classic cars. This decline is attributed to several factors, including rising inflation, interest rates, and a general economic slowdown. The decline in classic car sales is not limited to Monterey.

This trend is not just a nostalgic preference; it’s a reflection of the changing dynamics of the collector car market. The rise of online platforms, social media, and digital marketing has significantly impacted the way collectors acquire and interact with cars. The shift in preferences towards older cars is also driven by the increasing cost of maintaining and insuring newer vehicles. The high cost of ownership, coupled with the perceived value of classic cars, has made them a more attractive alternative.