ALT/FNDATA · Market Report
Q4 2025 Report: The Collector & Exotic Car Market
Auction-realized prices and the public-market backdrop
The collector market finished 2025 on its front foot: value rose year over year on a broad, modern-hypercar-led quarter, even as Ferrari shares fell sharply on an electric-vehicle reset, the clearest illustration of the year of the hard asset trading apart from the equity that builds it.
The headline
The correction in three numbers
$317.7M
Q4 2025 auction value
Across 5,324 sold lots, up 6% year over year and +19% like-for-like
$25.3M
Top lot: 1994 McLaren F1
At RM Sotheby's Abu Dhabi; the quarter's top lots were modern hypercars
+19%
Like-for-like value, YoY
$313.6M vs $264.6M at the houses tracked in both quarters
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 finished 2025 on its front foot: Q4 cleared $317.7M across 5,324 sold lots, up 6% year over year on a gross basis and approximately 19% on a like-for-like basis, the strongest year-over-year reading of any 2025 quarter.
- Modern hypercars led, not vintage. A 1994 McLaren F1 topped the quarter at $25.3M at RM Sotheby's Abu Dhabi sale, ahead of a McLaren MCL40A Formula 1 car ($11.5M) and a Pagani Zonda ($10.1M); the very top tilted contemporary.
- RM Sotheby's dominated the value, clearing $152.6M across 237 lots, roughly half the quarter, led by its December Abu Dhabi sale, while Mecum moved the most lots, 2,288, for $85.4M.
- Volume stayed American and broad: Chevrolet (1,123 lots, $53.1M) and Ford (775, $31.8M) led, with no single marque concentrating value as Ferrari had at Monterey; the quarter was wider and shallower than Q3.
- The showroom and the saleroom decoupled sharply. Ferrari shares fell approximately 24% in the quarter after an October strategy day that halved its electric-vehicle target, even as collector Ferraris and the broad market firmed.
- The year closed with the market stabilizing: full-year collector auction sales rose about 10% to $4.8bn industry-wide, and the Hagerty Market Rating posted its first monthly rise in seven months in December, a sign the broad cooling of 2025 had begun to find a floor.
Year-over-year
Q4 2024 vs. Q4 2025
Q4 2024 vs. Q4 2025: sold collector-car lots at auction (like-for-like = the 17 houses that cleared lots in both quarters)
| Metric | Q4 2024 | Q4 2025 | Change |
|---|---|---|---|
| Sold auction lots | 4,591 | 5,324 | +16% |
| Total value (USD) | $300.9M | $317.7M | +6% |
| Like-for-like value | $264.6M | $313.6M | +19% |
| Top marquee lot | $11.1M (Zonda) | $25.3M (McLaren F1) | +128% |
The divergence
Ferrari shares fell roughly 24% in the fourth quarter on its electric-vehicle strategy reset, even as collector Ferraris and the broad market firmed (full-year auction sales up about 10%, the Hagerty Rating rising in December). The hard asset and the equity that builds it diverged sharply into year-end.
Source: Yahoo Finance closing prices (30 Sep 2025 to 31 Dec 2025); Hagerty; ALT/FNDATA.
The outlook
Three trends that will define the year
Scarcity sets the ceiling, modern and vintage alike
Where Monterey's records went to historic Ferraris, Q4's went to modern hypercars, a McLaren F1, an F1 car, a Zonda. Finite, halo machinery commands the top of the market whether it is twenty years old or sixty.
A broader, shallower quarter
Value spread across the fall sales and a strong December finale rather than concentrating in a single marque or week. The Q4 calendar is wider than Monterey's, and 2025's strongest like-for-like quarter rested on breadth as much as on the top lots.
Decoupled from the showroom
Ferrari's roughly 24% fall in the quarter, on its electric-vehicle reset, against firming collector Ferraris is the year's cleanest illustration of the divergence. The blue-chip collector car trades on heritage and scarcity, not on the maker's strategy.
“The clearest picture of 2025 sat in the fourth quarter: Ferrari the share price fell about a quarter on its electric-vehicle reset, while Ferrari the collector car firmed. The asset and the equity that builds it had decoupled.”
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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 fall sales through the December finale)
- Showroom vs. saleroom: the automaker backdrop in Q4 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, “Q4 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 Q4 2025 automaker performance. © 2026 ALT/FNDATA · altfndata.com/reports/collector-car-market-report-q4-2025