Monterey Car Week 2025: Auctions, Concepts, and SuperCars to Watch

Monterey Car Week 2025 is underway, attracting over 100,000 attendees. The main focus of the event is classic car auctions, new car reveals, and automotive news. Despite expectations of a rebound, classic car insurer Hagerty estimates a total of $388 million in auction sales, similar to last year. The trend towards more modern supercars is evident, with an average model year of 1974. Luxury and exotic automakers will showcase splashy concepts and supercars.

Monterey Car Week 2025 is underway, attracting over 100,000 attendees. The main focus of the event is classic car auctions, new car reveals, and automotive news. Despite expectations of a rebound, classic car insurer Hagerty estimates a total of $388 million in auction sales, similar to last year. The trend towards more modern supercars is evident, with an average model year of 1974. Luxury and exotic automakers will showcase splashy concepts and supercars.

The annual gathering of classic car collectors from around the world is expected to feature an estimated 1,140 classic cars up for sale. The sales total is estimated to come in between $367 million and $409 million, according to Hagerty. This range would mark a third straight year of declines, with the midpoint of $388 million representing an 18% drop from the recent peak of $471 million in 2022 [1].

The high-end market is showing the most significant weakness. Traditionally, the Monterey auctions have featured at least a half-dozen cars priced at $10 million or more. This year, there is only one such car, the fewest in over a decade. The average sale price has dropped to $473,000 this year from $477,000 last year [1].

Simon Kidston, a classic car advisor and dealer, notes that "Pebble Beach is the annual health check on the market. Everybody waits to see what happens at Pebble Beach before committing to a major decision the rest of the year" [1].

The classic car market has been in slow decline since the pandemic rally in 2021 and 2022. Collectibles prices are down 2.7% over the past 12 months, according to the Knight Frank Luxury Investment Index. Classic car prices are down 0.2% overall, better than the 20% drop in the art market but not as strong as jewelry (up 2.5%) or coins (up 13%) [1].

Global uncertainty, including wars in Ukraine and the Middle East, along with weakness in China, higher interest rates, and a surging stock market, are cited as factors contributing to the slowdown. Additionally, a generational shift is accelerating, with baby boomers aging out or downsizing, and millennials and Gen Zers preferring newer and fewer collectible cars [1].

Gooding & Co. is selling three Ferrari 250 GT California Spiders this week, including the most expensive lot of the week, a 1961 250 GT SWB California Spider with an alloy body and original hardtop estimated at over $20 million. Despite the high demand for such classic cars, prices and demand for many cars that are over 50 years old are down as much as 20% to 30% from the peaks [1].

The market for modern supercars is thriving. The average model year of the cars being sold at Pebble Beach is 1974, and sales of modern supercars are expected to overtake sales of so-called "Enzo-era" Ferraris at Monterey for the first time [1].

While the classic car market faces challenges, the event remains a significant event for the automotive industry, attracting both enthusiasts and investors.

References:
[1] https://www.cnbc.com/2025/08/14/monterey-car-week-classic-car-auction-sales-expectations.html