Monterey Car Week auctions are projected to approach $500 million this year, the highest total since 2022, as luxury automakers unveil new models to attract ultra-high-net-worth consumers. Hagerty tabulated around $432 million in auction sales last year, and CEO McKeel Hagerty noted live auction sales are up 28% over the past 12 months. Bugatti will publicly debut the Destriate, a track-focused Bolide with reduced aerodynamic elements, while Lamborghini is expected to reveal a higher-performance Revuelto SV. Automakers are increasingly using the event to showcase exclusive, high-end vehicles amid a growing cohort of wealthy buyers, raising questions about how long the luxury consumer segment can sustain such momentum.
Hagerty IncHagerty projects record auction sales near $500M, up 28% over past 12 months.
Ferrari NVBugatti debuts Destriate at event targeting ultra-rich buyers.
