Collectible cars

From vintage, classic, youngtimer, modern classic to supercars, the collectible car market has shifted gear over the last half century, and especially in the last five years.
Pierre Novikoff, Vice President of Artcurial Motorcars, lifts the lid on a market driven by passion, as a new breed of collector emerges amid a shifting geographic and economic context.

Interview by Laurent Issaurat, Head of Art Banking Services at Societe Generale Private Banking.

What exactly is a "collectible car" today?
Pierre Novikoff: Cars were traditionally considered collectible if they were over 3O years old, but that definition has now changed. These days, new cars produced in limited quantities can be collectible, as can a race-winning car of any age.

How did the collectible car market take shape?
P.N.: The first classic car auctions in France were held in the 1970s. After a speculative bubble in the late 1980s, the market skyrocketed in 2015 when baby boomers began collecting, mostly models from the 1950s and 1960s. The pandemic in 2020 marked a turning point in a market where demand varies by according to car generations.

Speaking of demand, what are the current trends?
P.N.: Pre-WWII race cars and vehicles by the big names in automotive design are still in demand, whereas interest in 1950s-era models is stalling and remains relatively stable for cars from the 1960s and 1970s.

In contrast, the future looks bright for cars made in the 1980s and 1990s onwards, as new buyers approach recent models with a collector’s eye rather than as drivers. Cars like the Ferrari Modena Challenge Stradale and BMW Z8 are highly sought-after despite being less than 20 years old.

Do “supercars” have a special place on the market?
P.N.: Absolutely. Supercars and hypercars are recent builds – under ten years old – that push the boundaries of design. They represent the pinnacle of a carmaker’s engineering prowess and can cost up to ten times more than a standard model. Manufacturers inject these cars with cutting-edge technology taken from F1 in the case of Ferrari and McLaren, or endurance racing for Porsche.

The supercar phenomenon also extends to niche brands like Pagani in Italy, Koenigsegg in Sweden and Bugatti in France, which focus exclusively on the hyper-luxury segment where cars go for between 3 and 5 million euros.

These models are particularly popular with young collectors drawn by the wow factor of these cars they discover on social media.

Which countries have the most dynamic classic car markets?

P.N.: In Europe, Brexit boosted France’s position, which is now a major marketplace alongside Britain and Monaco. Rétromobile, a highlight of the car show calendar for collectors, is celebrating its 50th anniversary in Paris in late January.

The biggest market remains the United States, but like Britain, markets on the other side of the pond are looking increasingly isolated. American buyers are responding to tariff uncertainty and the current legal vacuum surrounding classic car imports by retreating from the European market in favour of their home turf. They are also focusing more on the newest supercars.

How are collectible cars valued these days?

P.N.: A car’s value depends on several criteria, the first being the brand. Classic models by the likes of Porsche, Ferrari and Lamborghini — carmakers still active today — tend to fare better price-wise. The number of cars made is also relevant and limited editions are increasingly sought-after. Finally, provenance is crucial. Since cars are by definition duplicates, their history — having a famous previous owner for example — can significantly increase their value.

When it comes to sports cars, race history is key, with a car’s value hinging on its track record. A car that won the 24 Hours of Le Mans will sell for at least double that of a car that only took part.

How much is an entry-level car and what advice can you give budding collectors?

P.N.: You might be surprised to know that collectible cars can be had for a few thousand euros. The first generation-defining Twingos and Clio Williams are now collectibles. And while their prices are constantly going up, they remain affordable.

As with any purchase, I recommend buyers think about what they will use the car for: do they want to showcase it, compete in a rally or drive the car regularly? Be wary of a low price tag, which can hide steep restoration costs. Look carefully at the vehicle’s overall condition. Cars are complex machines that need regular maintenance and use. Choose a car you love that matches your objectives!

Before we finish, what for you are the most iconic cars in motoring history?

P.N.: The Mercedes 300 SL Papillon, its gullwing doors a necessity born of the car’s tubular frame, epitomised the 1950s. Then came the Aston Martin DB4 and DB5, immortalised by James Bond in the 1960s. Finally, the Ferrari Testarossa, unveiled in 1984, is a milestone in car design history. For car enthusiasts and onlookers alike, this 1980s icon changed the way we all looked at cars.

Pierre Novikoff

Vice President of Artcurial Motorcars, Pierre Novikoff is a well-known figure at major automotive auctions such as Rétromobile and Le Mans Classic. A passionate enthusiast of automobiles and art history, he views his profession as a true way of life.

Alongside Matthieu Lamoure, President of Artcurial Motorcars, he has helped make the department an international benchmark since its creation in 2010, achieving landmark sales such as the Baillon Collection, the Ferrari 335 Sport Scaglietti from the Bardinon Collection (€32M), the Étienne Léandri Collection, and more recently the W Collection (€30M in 2024).

Always driven by passion and expertise, Pierre Novikoff explores exceptional collections, engages with key players in this unique heritage, and regularly takes part in rallies behind the wheel of both classic and modern cars.

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