So far, 2013 has proven to be a record-setting year in many ways for auto sales. New cars have been flying off the lots as consumers flock to dealerships and the economy continues to warm up. However, it’s been a fantastic year for car sales of a different sort as well — high-end auction sales, which have seen a booming year.
“Supply and demand are still driving prices,” McKeel Hagerty, president and CEO of Hagerty Insurance, said to CNBC. “You have more millionaires being created and a small number of these top-quality cars. It’s also generational. The people who made large wealth are at a point in their lives when they want to collect these cars.”
Auction sales of collectible cars in the U.S. are set to reach $1.2 billion this year, an all-time record that’s up 25 percent from 2012, CNBC reports. Moreover, the average price per car jumped 13 percent, from $54,000 to $61,000. While that seems like a lot, it’s essentially a rounding error for the numbers that the ultra-rare vehicles have been pulling in.
Here are the five most expensive cars that sold at auction in 2013. Note: the car pictured may not match the auctioned car exactly, but we did our best.
5. 1957 Ferrari 250 GT TdF Berlinetta
Ferraris are known for claiming some of the highest premiums at auctions, and this car is no exception. The 1957 250 GT sold for $9.46 million at a Gooding auction in August, making it the fifth most expensive auctioned car this year.