For much of the twentieth century, collector cars changed hands through classified ads, club connections, private sales and local dealers. Auctions existed, but as the hobby matured, companies such as Barrett-Jackson, RM Auctions, Gooding & Company and Bonhams transformed major sales into destination events. Scottsdale, Monterey and Amelia Island became gathering places where rare automobiles were displayed beneath bright lights, described by expert auctioneers and sold before crowds of enthusiastic collectors. The theater was part of the appeal: bidders could inspect cars in person, speak with specialists and experience the excitement of a live competition for ownership.
These events also helped establish collector cars as valuable cultural objects rather than simply used automobiles. Widely reported sales gave the public recognizable benchmarks and elevated certain models to new levels of prestige. A record price for a Ferrari, Duesenberg or Shelby Cobra could influence expectations across the entire market. Major auction houses expanded internationally and developed sophisticated marketing operations capable of presenting important cars to wealthy collectors around the world. RM Sotheby’s, for example, grew from a small Canadian restoration business founded in 1976 into one of the world’s largest collector-car auction companies.
The auction moves onto the internet
The arrival of online auctions opened the market to a much broader audience. Rather than traveling across the country, arranging telephone bidding or relying on a printed catalog, buyers could study hundreds of photographs, review documents and place bids from home. Bring a Trailer began hosting auctions in 2014 and helped popularize an interactive format in which users could publicly question sellers, discuss a vehicle’s history and examine details throughout a multiday auction.
Online sales expanded rapidly during the COVID-19 pandemic, when many live events were postponed and enthusiasts became more comfortable purchasing expensive vehicles remotely. The change continued after traditional auctions returned. According to Hagerty, total online collector-car auction sales grew from approximately $244 million in 2019 to $1.7 billion in 2023. Online auctions surpassed live auctions in total dollar volume for the first time in 2024 and widened that lead during 2025.
The digital format also changed which vehicles received serious attention. Traditional prestige auctions often emphasized rare prewar automobiles, European sports cars and seven-figure collectibles. Online platforms made room for well-preserved pickup trucks, Japanese performance cars, unusual imports and ordinary vehicles connected to personal nostalgia. A low-mileage station wagon or exceptionally original Honda could attract thousands of viewers and occasionally sell for a price that surprised even experienced collectors, essentially changing the course of automotive history through the prices these cars would fetch.
Did auctions make collector cars more expensive?
In many cases, auctions probably helped increase prices by exposing each vehicle to a larger pool of buyers. A desirable car that once might have been advertised locally can now be seen instantly by collectors across the country—or around the world. Competitive bidding, polished photography and public enthusiasm can create urgency, while a few exceptional sales may influence what later sellers believe similar cars are worth. Research by Hagerty has found evidence that some vehicles achieved stronger results on Bring a Trailer than comparable examples sold elsewhere, although the effect varied considerably by model and vehicle quality.
However, auctions are not solely responsible for making the hobby more expensive. Inflation, limited supplies of desirable cars, changing generational tastes and the rapid rise in asset values during the pandemic also played major roles. Collector-car prices have cooled since their recent peak, and Hagerty reported in 2025 that average dealer asking prices had fallen approximately nine percent from their 2023 high.
The larger impact may be transparency. Enthusiasts can now search previous sales, compare conditions and watch the market develop almost in real time. That information makes it harder to discover an undervalued car, but it also helps buyers avoid paying blindly. Online auctions have made collecting more competitive and, for certain fashionable models, more expensive. At the same time, they have made the hobby more accessible, introduced overlooked vehicles to new audiences and allowed enthusiasts everywhere to participate in a marketplace that was once largely confined to auction tents and private networks.
