Monterey Car Week auction sales could top $471 million record

Monterey Car Week auction sales 2026 could total $470 million to $500 million, according to Hagerty, putting the collector-car event within reach of a new combined-sales record. For investors watching luxury assets, the more revealing signal is where demand is going: newer supercars are gaining ground while traditional collector models have weakened.

The forecast is not a final result. The record to beat is $471 million, set in 2022. At the low end, Hagerty's projected range would fall $1 million short; at the high end, it would exceed the record by $29 million, or about 6%.

McKeel Hagerty, chief executive of the collector-car insurance, auction and events company, said strong bidding could produce the first $500 million auction week in the collector-car market.

Will Monterey Car Week auction sales set a record?

They could, but only if total sales finish above $471 million. Hagerty's $470 million-to-$500 million range straddles that threshold, so the final tally, rather than the forecast, will determine whether 2026 sets a record.

RM Sotheby's is holding its Monterey sale from Aug. 13 through Aug. 15 at the Monterey Conference Center, according to the auction house's published schedule. That sale is one part of the wider auction week, not the full combined-sales estimate.

A market split between older classics and newer supercars

CNBC reported that millennials and Gen Z collectors are increasingly pursuing cars tied to their own formative years, rather than the 1950s and 1960s vehicles long favored by baby boomers. Hagerty's data point to a sharp divide: its Blue Chip Index of leading traditional collector cars declined 2% over the past 12 months, while its Supercar Index rose 30%.

The newer segment includes Ferrari F40s, F50s and Enzos, along with Bugatti Veyrons, Ruf Yellowbirds, Koenigseggs and Paganis, CNBC reported. A 1996 McLaren F1 GTR carries a $35 million estimate at RM Sotheby's, while a 2023 Ferrari Daytona SP3 is estimated at more than $10 million.

Recent sales show the level of bidding in this group. A 2003 Ferrari Enzo sold for $17.9 million at Mecum Auctions in January. At Broad Arrow's Amelia Island sale in March, another 2003 Enzo brought $15.2 million and a 2005 Porsche Carrera GT sold for $6.7 million, according to CNBC.

Why are dealers cautious about supercar prices?

Some dealers and classic-car specialists told CNBC that pricing for modern supercars may be speculative. They said the gains can be hard to reconcile with established collector measures, including racing history, rarity, enduring value and worldwide appeal.

CNBC also reported that some younger buyers treat these cars as shorter-term trades, limiting driving to preserve mileage and reselling quickly. That makes Monterey's result a test of both buyer appetite and whether recent price gains can hold under the auction hammer.

This story draws on original reporting from CNBC.