Graph of the Week: Decrease in Vehicles Offered at North American Collector Car Auctions
Last week, we identified Chevrolet as one of the top makes that is showing up less frequently at the Monterey auctions. It turns out this is a wider trend, so while the number of collector collector cars offered at North American auctions has remained steady over the past 12 months, the number of Chevrolets at auction during this window is slipping. In fact, Chevy makes up all of the top five models in terms of decrease in the number offered.
That the top two declining vehicles are pickups is actually quite surprising since there has been marked growth in the truck market recently, but with decreases of 43 percent for the C10 and 45 percent for the 3100, they’ve seen a much bigger drop than the cars have. A possible explanation could be that with sharp value increases for these models, they’ve lost the appeal as cheaper classics that made them so attractive to buyers in the first place.
This reduction is also consistent with dwindling quote activity for the same models that Hagerty has seen over the same time period. Although Chevrolet remains one of the most popular brands among classic car owners, perhaps we are seeing that popularity begin to wane a bit.