ALT/FNDATA · Market Report
Q3 2025 Report: The Collector & Exotic Car Market
Auction-realized prices and the public-market backdrop
A resilient quarter that rested on a single week: Monterey Car Week carried roughly three-quarters of the value, Ferrari concentrated the capital, and the collector top end set records even as the broad market cooled to a multi-year low.
The headline
The correction in three numbers
$488.7M
Q3 2025 auction value
Across 4,810 sold lots, flat year over year and up 2% like-for-like
$26.0M
Top lot: Ferrari Daytona SP3
A charity sale at Monterey; the top six lots of the quarter were all Ferraris
$165M
Ferrari value, on 125 lots
The top marque by capital, on a fraction of the volume
Auction-realized prices: what collector cars actually sold for at the hammer, not asking prices. · 10M+ auction results · 100+ houses.
Key findings
What the quarter told us
- The collector market held its level through the summer: Q3 2025 cleared $488.7M across 4,810 sold lots, essentially flat year over year on a gross basis and up approximately 2% on a like-for-like basis. The quarter rested, as ever, on a single week.
- Monterey Car Week was the quarter. August alone captured roughly $348M of the $489M, as the Pebble Beach sales drew the year's deepest collector capital; July ($66M) and September ($74M) were comparatively quiet.
- Scarcity set the ceiling, and it was Italian. A Ferrari Daytona SP3 led the quarter at $26.0M (a charity sale), and a 1961 Ferrari 250 GT SWB California Spider Competizione realized $25.3M at Gooding; the top six lots were all Ferraris.
- Ferrari concentrated the capital: 125 Ferrari lots carried roughly $165M, more value than any other marque, while Chevrolet (744 lots) and Ford (577) supplied the volume. The volume is American; the capital is Italian.
- The houses mirrored the split: RM Sotheby's ($171.7M) and Gooding ($162.4M) cleared the marquee Monterey value, while Mecum moved the most lots, 1,723, for $97.8M.
- The showroom and the saleroom decoupled. The collector top end set records even as the broad Hagerty Market Rating fell to a 15-year low, and the listed performance makers diverged from one another (Ferrari down about 1% in the quarter, Porsche absorbing an operational reset). The hard asset traded apart from the equities that build it.
Year-over-year
Q3 2024 vs. Q3 2025
Q3 2024 vs. Q3 2025: sold collector-car lots at auction (like-for-like = the 16 houses that cleared lots in both quarters)
| Metric | Q3 2024 | Q3 2025 | Change |
|---|---|---|---|
| Sold auction lots | 4,880 | 4,810 | −1% |
| Total value (USD) | $490.6M | $488.7M | flat |
| Like-for-like value | $460.6M | $470.7M | +2% |
| Top marquee lot | $17.1M (Cal Spider) | $26.0M (Daytona SP3) | charity sale |
The divergence
Monterey set near-record totals (up about 5% on 2024) even as the broad Hagerty Market Rating eased to a 15-year low and the bellwether maker Ferrari was roughly flat. The top of the collector market firmed while the base and the listed makers softened.
Source: Hagerty; Yahoo Finance closing prices (30 Jun 2025 to 30 Sep 2025); ALT/FNDATA.
The outlook
Three trends that will define the year
Scarcity outweighs the cycle
Capital concentrates in finite, historic supply, pre-1975 Ferraris above all. The top of the market set records at Monterey even as the broad index softened, the asymmetric returns accruing to unrepeatable 20th-century icons rather than to modern performance.
The calendar is the cycle
Volume and value move with the sale season. August's Monterey week carried roughly three-quarters of the quarter; the rhythm of the auction calendar, not the macroeconomy, governs the collector-car market.
Decoupled from the showroom
Collector values held while the broad Hagerty index reached a multi-year low and the listed performance makers diverged. The blue-chip collector car trades on heritage and scarcity, not on the carmakers' quarterly results.
“Monterey carried the quarter, and Ferrari carried Monterey: the collector market's capital continues to concentrate in a finite pool of historic machinery, indifferent to the cycle that governs the showroom.”
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Read the full report
The headline data above is free to cite. The full report is part of ALT/FNDATA Membership, which includes every quarterly market report and the Visual Analytics Hub. Inside this report:
- The full month-by-month breakdown (the road to Monterey, August, and after)
- Showroom vs. saleroom: the automaker backdrop in Q3 2025
- Marque analysis: where the volume and the capital actually went
- Methodology and how to cite the data
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Source: ALT/FNDATA, “Q3 2025 Report: The Collector & Exotic Car Market” (June 2026). Based on auction-realized prices for collector and exotic cars cleared at the auction houses ALT/FNDATA tracks, with public-market context from Q3 2025 automaker performance. © 2026 ALT/FNDATA · altfndata.com/reports/collector-car-market-report-q3-2025