When the economy and stock market panic, classic car values tend to stay the course.
Performance On the Open Road:
The Stability of the Collector Car Market
Recent report shows that even when fuel prices rise, classic cars stay the course.
Text courtesy of OpenRoad Insurance • Photos by Jef White
Are high fuel prices and an uncertain economy affecting your vintage car customers? Historical data suggests classic vehicle owners and collectors have less to worry about than they might think—and considerably less to worry about than the average stock market investor.
A recent study by OpenRoad Insurance shows that when the economy and stock market panic, classic cars tend to stay the course. The classic car insurance provider explains why.
WHICH FACTORS IMPACT THE CLASSIC CAR MARKET?
Major economic events are far more likely to influence classic car prices than what drivers are paying at the pump. The market softened during the 2008 financial crisis and recovered as the broader economy stabilized. It dipped again during the COVID-era sell-off before surging during the inflation cycle of 2021-22.
During the 2008 financial crisis, the S&P 500 lost approximately 56% of its value and the Dow Jones fell by more than half—from 14,164 to 6,547. The classic car market cooled during the same period, but experienced no comparable collapse and recovered steadily as the broader economy stabilized.
While individual segments shift based on collector tastes and generational trends, the overall market appears to be at one of its most stable points in years.
CLASSIC CARS & HIGH GAS PRICES
What do classic car sales look like when gas prices are high? To answer this question, we compared the average cost of a gallon of gasoline in the United States against leading classic car market data and auction results going back nearly two decades.
While the market remains strong and stable, classic car values did dip 8.6% between 2024 and 2025. With much of the drop attributed to more vehicles hitting the market, this is a good time for customers to buy.
The classic car market uses a “heat index” to measure activity levels. A “hot” rating means buyers are more active and prices tend to run higher, while a “cool” market reflects lower participation and more negotiating room for buyers.
The average monthly cost of a gallon of gas first spiked over $4 in July 2008. Interestingly, the classic car market index ticked upward slightly during that period and cooled when gas prices dropped below $2 in December 2008—a period, of course, that also coincided with the global financial crisis.
The classic car market hit a notable peak in August 2015, when gas prices were at $2.72 per gallon and trending downward, suggesting high gas prices weren’t driving the market at all. The market then cooled until September 2020, when gas prices were under $2 due to the global pandemic.
In the post-COVID era, the classic car market reached an all-time peak in December 2022. Gas prices had peaked six months earlier but were still at $3.32 per gallon when the market hit its high. As of early 2026, gas prices sat at around $3.77 per gallon (and spiked during the spring and the Iran war), while the classic car market has been gradually cooling since its 2022 peak. The data tells a clear story: there is no meaningful direct correlation between gas prices and the classic car market. What does move the market are broader economic events that affect consumer confidence and discretionary spending across multiple sectors.
PASSION, DEMOGRAPHICS & RARITY
According to OpenRoad Insurance, the data only tells part of the story—the classic car market’s true resilience, it seems, lies in the human element behind it.
Unlike stocks or bonds, classic cars are owned by a community of deeply passionate enthusiasts for whom these vehicles represent far more than a financial asset. The demographic profile of the typical collector—established, financially stable and emotionally connected to the hobby—means that market participation rarely evaporates during economic downturns the way it might in purely speculative markets.
Rarity is the other critical factor. The supply of genuine classic cars is finite and shrinking.
Unlike stocks that can be diluted or real estate that can be developed, a numbers- matching 1969 Chevrolet Camaro or an original Porsche 911 cannot be recreated. That scarcity, combined with the passion of the collector community, creates a floor under valuations that few other alternative investments can claim.
Simply put, classic car collectors do not engage in panic selling. They hold, they maintain and, in many cases, they keep buying, because for them, the value of these vehicles was never purely financial to begin with.
The classic car market’s true resilience lies in the human element behind it.
PRICES IN 2019 VERSUS 2022
The difference between the 2019 and 2022 collector car markets is striking. Total auction volume grew from approximately $1.4 billion in 2019 to nearly $3.6 billion in 2022, more than doubling in just three years.
The auction structure also shifted meaningfully. In January 2019, roughly 20% of vehicles sold with a reserve price, giving sellers a price floor and buyers less leverage. By 2022, that figure rose to 26%, and by January 2025 it had climbed to 55%, indicating a market where sellers have become significantly more willing to let the market determine value—a signal of growing buyer confidence and market maturity.
However, since classic car prices peaked in 2022, they have fallen 23% in the U.S. including 8.6% between 2024-25, according to the website theclassicvaluer.com.
Much of the drop is related to the amount of supply hitting the market, officials say. Supply increased in the U.S. by 7.8% in 2025, leading to more options for buyers, and sellers needing to be more aggressive with pricing.
COMPARING CLASSIC CARS TO OTHER INVESTMENTS
Classic cars occupy a unique space as an alternative investment. They don’t generate direct income, but they’re also far less exposed to the volatility that affects stocks, bonds and many other financial instruments.
The stock market experienced severe corrections twice in the past 20 years—once during the 2008 financial crisis and again during the COVID-19 pandemic. The classic car market, while not immune to economic pressures, has demonstrated considerable resilience over the same period, with values generally trending upward since serious market tracking began in the early 2000s. Compare that to other collectible alternatives:
• Fine art requires verified provenance and sustained cultural relevance to appreciate meaningfully and can be extremely difficult to liquidate when the
market is soft.
• Sports cards are tied directly to an athlete’s reputation and continued popularity— a single scandal can crater an entire collection overnight.
• Other collectibles face similar risks if a category falls out of fashion.
Classic cars require ongoing maintenance and insurance, but they can typically be sold or auctioned within six months, offer far more price transparency than most collectibles and carry one advantage no other alternative investment can match—they can be driven and enjoyed more practically.
In the post-COVID era, the classic car market reached an all-time peak in December 2022.
HOLDING OR INCREASING IN VALUE
German sports cars, Italian exotics and American muscle cars have led the market in recent years, with some compelling stories emerging across each segment.
Among European imports, 1980s Porsches, 1990s BMWs and vintage Volkswagens have seen meaningful appreciation. The 1980s Porsche 924, which was largely overlooked when it first hit the market as a new vehicle, has become a breakout performer—as reported by theclassicvaluer.com, a 1981 Porsche 924 Carrera GT sold for more than $150,000 at auction in 2025.
Ferraris and Lamborghinis continue to command strong prices as well, particularly for well-maintained or rare models. The Ferrari 458, produced only from 2010-15, currently averages around $185,000 at auction, with Speciale Aperta examples exceeding $3 million.
On the American side, classic muscle cars, early trucks and first-generation SUVs have all seen growing collector interest. Perhaps more interesting is the emerging collector market for recently discontinued modern performance cars.
The Dodge Challenger and Chevrolet Camaro have both been discontinued, while other iconic American performance nameplates have been significantly reimagined. Limited editions from these final model years are already attracting serious collector attention.
The 2018 Dodge Challenger SRT Demon—with only 3,300 ever produced—has been selling at auction for around $130,000, with recent prices remaining stable.
In short, the collector car market has performed admirably over the past 25 years and has shown to offer a bit more investment stability in fluctuating economic times. Learn more at openroadautoinsurance.com/classic-car-resources.
GET YOUR KICKS WITH ROUTE 66 STAMPS
The U.S. Postal Service (USPS) is commemorating the centennial of Route 66 with the release of a set of eight stamps, each showing a popular stop or sign along the roadway. The selvage features a photograph of the historical highway stretching into the distance in Arizona.
For a century, drivers have hit the open road to chase the American Dream along Route 66, which originally stretched about 2,400 miles from Chicago to Los Angeles. Historians agree Route 66 forever changed how Americans traveled and became a symbol of freedom and adventure.
The stamps celebrate the 100th anniversary of the iconic road, honoring its enduring spirit and ongoing efforts to preserve the uniquely American treasure.
“The men and women of the Postal Service are proud to commemorate Route 66 and celebrate its shared purpose of binding the nation together,” says Jeff Adams, the Postal Service’s vice president of corporate communications, who dedicated the stamps.“The Postal Service and Route 66 both played historical roles in our nation’s expansion, as conduits for goods and communication—moving hundreds of thousands of letters and packages for Americans as they journeyed westward.”
When the route was first mapped, it stitched together a patchwork of existing, mostly unpaved roads to form a continuous 2,448-mile highway passing through eight states: Illinois, Missouri, Kansas, Oklahoma, Texas, New Mexico, Arizona and California. Its eastern terminus was at the intersection of Michigan Avenue and Jackson Boulevard in Chicago, and the western terminus was at Broadway and Seventh Street in Los Angeles.
Today, Route 66 continues to capture the imagination. About 85% of the original route is drivable, and around 250 buildings, bridges, road alignments and sites along the highway are listed on the National Register of Historic Places. Private and public organizations have stepped in to preserve stretches of the road and the small towns that thrived along it.
Greg Breeding, an art director for USPS, designed the stamps and stamp pane with existing photographs by David Schwartz.
“Route 66 isn’t history behind glass or a velvet rope,” Schwartz says. “It’s living history that people can still step into and become a part of. Seeing these photographs travel across the country on U.S. postage stamps is incredibly meaningful to me, because it brings the spirit of the ‘Mother Road’ into millions of homes and, hopefully, inspires people to experience the road and support the small businesses that keep its story alive.”
Eight new stamps commemorate the centennial of Route 66. (Photo courtesy USPS)
