An $18 million Ferrari leads record classic-car auction at Amelia Island. See all 10 top sellers
Publishing timestamp: 2023-03-08 16:55:15
Summary
Wealthy car collectors spent a record amount at the Amelia Island classic-car auction, with total sales reaching $178.4 million, a record for the event. Of the top 10 most expensive cars sold, seven were Ferraris, indicating the continued dominance of the brand in the classic-car market. The strong sales and high prices suggest that the collectibles market is largely defying fears of recession, rising rates, and falling stock markets. While some bidders appeared to balk at asking prices, overall demand for top trophy cars remains strong, especially among younger collectors who favor "analog super-cars" from the 1980s and 1990s.
Sentiment: POSITIVE
Keywords: business news, transportation, ferrari nv, business, hagerty inc, autos, wealth,
Source: https://www.cnbc.com/2023/03/08/amelia-island-classic-car-auction-top-10-sellers.html