Summary

Since 2020, the classic car market has seen significant fluctuations due to the COVID-19 pandemic, with a detrimental impact on physical auctions due to lockdown restrictions. However, in 2021, a strong recovery led to a 42% growth in auction sales over the previous year. The global classic car market, valued at $31.1 billion in 2021, is expected to grow at a CAGR of 8.7%, reaching $51.3 billion by 2028. Classic cars, defined as at least 30 years old, represent just 2% of the total number of vehicles registered before 1985, with around 5 million units produced between 1919 and 1981 still in existence. The United States remains the largest market, accounting for nearly 63% of global classic car auction sales. Emerging trends include the growing popularity of youngtimers, cars aged between 20 and 40 years, which attract a younger demographic of buyers due to their relative affordability and suitability for daily use. Italy, with a rich automotive history and a plethora of events like Concorso d'Eleganza Villa d'Este, ranks fourth in the global market and is seeing a concentration of classic car demand in its northern regions..**Vintage Vehicles: Nostalgia on Wheels in Italy's Thriving Classic Car Market** Italy's market for classic cars demonstrates a profound connection between the nation's illustrious automotive history and the nostalgia-driven trends among collectors and enthusiasts. With an estimated market value of $14.96 million in 2021 through auction sales, Italy stands as a notable hub for vintage vehicles, bolstered by a fleet where cars over 30 years old form approximately between 7.5 and 10 percent of the total. The demand for these motoring relics is mainly driven by a deep-rooted passion for automotive history and heritage, notably the cultural impact and economic influence of brands like Fiat and Ferrari. Such sentiments are further cultivated through various high-profile events like the Concorso d'Eleganza Villa d'Este and the iconic Mille Miglia, predominantly situated in northern Italy, a region synonymous with wealth and automotive prowess. Home to less than half the number of current cars compared to those from the high production era of the mid-1970s to the mid-1980s, the Italian classic car scene is a scintillating market where scarcity and nostalgia merge. Notably, the 1960s era vehicles are sought after the most, followed closely by the youngtimers, which are cars aged between 25 and 35 years. These youngtimers have begun to ignite interest in a younger demographic, promising a new generational transition in the classic car market. The Italian market is also distinctly favorable for classic car owners, thanks to a suite of economic incentives including tax reductions, exemptions from stamp duty, and accessibility to restricted traffic zones. This blend of regulatory support and emotional appeal has fostered investment interests, alongside the social aspect where car gatherings serve as a nexus for shared vehicular passions. From a supply standpoint, over 9,500 classic cars over 30 years old are available on portals like Autoscout24, while online classifieds and specialized dealerships across the country add to the thriving marketplace. Auction houses contribute significantly to this ecosystem, with names like RM Sotheby's and Bonhams curating exclusive auctions that feature coveted models like the Fiat Dino and Porsche 356. As Italian enthusiasts find themselves catapulted into a bygone era through the steering wheel of a vintage beauty, the passion-driven market for classic cars continues to flourish. While northern Italy remains the epicenter for this market, the allure of Italian classic cars knows no bounds with youngtimers bridging the gap between the storied past and the.### Chapter: Icons of Elegance and Speed - The Heritage Brands of Classic Cars **FIAT - Fabbrica Italiana Automobili Torino** FIAT stands as a paragon of Italian automotive history, having carved its path as a pioneer in the industry since its inception in 1899. Marking the landscape of urban mobility and creating a legacy of accessible transportation, FIAT's iconic models like the Dino and the legendary 500 or "Topolino" have transformed from mere modes of transport to symbols of Italian design and ingenuity. *Fiat Dino* - A fusion of Ferrari's engineering prowess and FIAT's manufacturing capabilities, the Fiat Dino shines as a collaborative masterpiece that aided Ferrari in the racing spectrum and provided consumers with a taste of high-end performance. *Fiat 500* - The quintessential Italian classic that redefined compact cars with its endearing design and new-generation avatar, echoing a rich heritage while synchronizing with modern times. **Porsche** The German automaker, Porsche, embodies a marriage of style and performance. Founded in 1948, the company is known for its distinguished lineage of sports cars, boasting rear-mounted engines for a unique driving dynamic that conveys both tradition and innovation. *Porsche 356* - Porsche's genesis in commercial car manufacturing, the 356 was crafted in an intimate setting, signifying the modest yet determined beginnings of a brand now known for greatness. *Porsche 550 Spyder* - A race-inspired marvel, it showcased Porsche's engineering capabilities on and off the track, creating a legacy punctuated by performance and a tragic allure with the untimely death of James Dean. *Porsche 911 Turbo 3.0* - A watershed moment in Porsche's history, this turbocharged phenom galvanized the brand's position as a purveyor of speed, reinforcing that practicality and high performance are not mutually exclusive. **Alfa Romeo** Nestled near Milan lies Alfa Romeo, a historic marque that blends Italian flair with formidable racing heritage. Founded as A.L.F.A. in 1910 and rebranded with the advent of Nicola Romeo, the company transcended the race tracks with its grand designs and technological leaps. *Alfa Romeo 6C* - This series epitomized elegance and sophistication with its sleek design and potent 6-cylinder heart, setting a precedent for future generations of Alfa Romeos and becoming a cornerstone of Italian automotive excellence. Each of these heritage brands carries a

The collector car market - Italy

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Last update : 23/03/2023

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Summary and extracts

1 Synthèse du marché

1.1 Introduction

In Italy, a car is defined as vintage when it is over 30 years old. The government practically identifies them as movable pieces of art, they do not have to pay road tax, they can often enter restricted traffic zones even though their polluting characteristics would not allow it, and they also have particularly low insurance costs. But why should a historic car be preserved? And what drives an increasing number of enthusiasts to collect them?

Investments are not always rational; in the last period, especially after the financial crisis of 2007, we have seen an increasing search for so-called alternative investments. These are all those categories of collectibles that acquire value not so much for their production capabilities, but for the emotional connection they create with buyers, combined with their inherent rarity. Classic cars in particular are among the categories of alternative investments that have gained the most value. The automobile industry has changed profoundly from its popularity in the 1900s to the present. Innovations in this market have made cars safer, more efficient, faster, and more environmentally friendly. But something has been lost. Classic cars are witnesses of a time that is no more, of aesthetic care that prevailed over rationality, of a quest for freedom and a kind of irresponsible immaturity. The world has undeniably changed radically. If there is something certain, it is that a growing number of people still seek the thrills of yesteryear, and classic cars are a great way to remember past eras.

The global market was worth $31.1 billion in 2021 and is expected to grow to over $51 by 2032. The largest auctions and private car sales are held in America, which is the largest market for it. Italy ranks fourth, but the history associated with the country's many historic manufacturers drives many investors, including foreigners, each year to events such as the Concorso d'Eleganza di Villa d'Este, which hosts one of the most important auctions nationwide in the striking villa on Lake Como, or the Auto e Moto d'Epoca Fair in Bologna, one of the most important in Europe.

Lately, young timers, which means cars aged between 25 and 35 years, are becoming more and more popular, which is also a sign of a growing interest on the part of a younger public, which, in addition to the collection, is also interested in the daily use of the cars. The Italian market is divided between online marketplaces, auction houses, both foreign and Italian, and dealerships that often deal in both resale and maintenance and restoration. The study also includes an in-depth analysis of some of the most iconic models on the market: Ferrari 250 GTO, Porsche 356, Lamborghini Miura, Aston Martin DB3, Lancia Stratos, etc...

2 Analyse de la demande

3 Structure du marché

4 Analyse de l'offre

5 Règlementation

6 Positionnement des acteurs

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Latest news

Artcurial wins out over Christie's and Sotheby's - 08/08/2023

Artcurial was founded in 2002 and became the third-largest player in the French art market in 2005.
In 2022, Artcurial achieved record sales of €216.5 million.
Arqana, a racehorse auctioneer affiliated to Artcurial, achieved a sales volume of 225 million euros and sold almost 5,000 horses in 2022.
It ranks second in the European market.
Artcurial set up operations in Monaco in 2015, Morocco in 2019 and Switzerland in 2022.
Artcurial also owns the John Taylor real estate group, acquired in 2017, with a portfolio of 6,000 properties worth €16 billion.
The Artcurial group's consolidated sales in 2022 were €1.6 billion, making it one of Europe's leading intermediaries for exceptional properties.

Art: how auction houses compete in the middle market - 12/07/2022

Bonhams aims to consolidate the mid-range segment
Bonhams has 14 auction rooms (London, New York, Los Angeles, Hong Kong, Paris, etc.) and experts in some sixty sectors
Purchases from well-known houses in their respective countries, such as Bukowskis in Sweden, Bruun Rasmussen in Denmark or Cornette de Saint Cyr in France.

The art market is in turmoil: England's Bonhams has just acquired France's Cornette de Saint Cyr. - 28/06/2022

In 2022, Bonhams acquired the French institution founded in 1973.
It has offices in Paris and Brussels.
Since its takeover by the Epiris fund in 2018, Bonhams has been shopping in Europe and the United States.
31.8 million in sales in 2021, ranking 10th in France.
Fierce competition and the costs generated by this exceptional Parisian location have eroded margins.

Companies quoted in this study

This study contains a complete overview of the companies in the market, with the latest figures and news for each company. :

AutoScout24

Subito.it

Classic Trader

RM Sotheby's

Bonhams

Artcurial

Finarte S.r.l.

Aste Bolaffi S.p.a.

Ruote da Sogno S.r.l.

Luzzago 1975 S.r.l.

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