Auto Expert McKeel Hagerty on the Restomod Trend and More
Sometimes, no matter how smart, connected, and well-resourced you are, you simply need an expert—and not just any expert, but the rarefied insider whom other specialists call when they need help. Luckily, Robb Report has our own highly curated directory of heavy hitters across categories: the Masters of Luxury.
This month, our pundit is McKeel Hagerty, a figurehead in global car culture. The guiding force behind the automobile-insurance agency that bears his surname, he has expanded its scope to a self-proclaimed “automotive enthusiast brand,” acquiring and building on such events as the Amelia Concours and the California Mille rally. Further providing for the collector-car market, Hagerty and his team also founded Broad Arrow Auctions, which was responsible for $624 million in total sales last year.
Have a conundrum you’d like to see solved? Email askrobb@robbreport.com.
The Expert
Name: McKeel Hagerty
Occupation: C.E.O. and chairman of the board at Hagerty
HQ: Traverse City, Mich.
Specialty: Insuring automotive masterworks while serving as a steward of the motoring community
The Big Question
How will the coming Great Wealth Transfer affect the market for collectible cars?
The generational shift in financial power is already underway, and it’s redistributing blue-chip collectibles—such as early models from Alfa Romeo, Bugatti, Ferrari, and Mercedes—as the old guard begins to age out. “Some of the great cars that maybe have been locked up in collections are now becoming available,” says Hagerty. Interestingly, the ownership model itself is also being redefined by this migration. “Driving is central now to the new generation of collectors,” he notes. “It’s less about owning a building full of cars that you just stare at. The transfer is here, and it’s really focused on that driving experience.” There’s also a bit of role reversal when it comes to who is purchasing what. Some, whom Hagerty identifies as older baby boomers, are thinning out their assemblages of vehicles as a way to simplify while still staying in the game. “They go and sell five cars because it’s time to downsize, and then they’re adding a supercar back into the mix,” he explains. They tend to prioritize instant gratification after years of time and equity spent investing.
“To really curate a great collection of earlier cars, it takes decades, it takes a lot of work, it takes restoration,” says Hagerty. Conversely, as these long-dormant classics go to younger connoisseurs, it’s as if the clock resets. “It’s kind of happy on both sides of the trade,” he adds. “It’s been interesting to watch.”
Speed Round
Are modern supercars already classics in terms of investment?
It’s evidenced by what we see in some of the top sales from [last] year. The next Ferrari [250] GTO is the McLaren F1—we’ve seen a number of private sales of those up into the $20 million-plus range… that incredible recent sale of the Gordon Murray Special Vehicle [S1 LM], and then what we’ve been seeing with these Ferrari [Daytona] SP3s selling way above their sticker price.
How relevant is the restomod trend?
Super relevant. They’re just a big part of how that next collector wants a vintage car, but they want modern reliability. Don’t expect these cars to skyrocket in value like you would certain vintage cars, because you’re paying for the time and materials of having it built. But who cares? Spend the money on something you like, and go enjoy it.
What can we expect from the online- and live-auction markets in 2026?
I think what you’re going to see is that the good online platforms will continue to grow. People will continue finding more and more trust in using those platforms to buy good cars. You’re going to see increasing trophy hunting when it comes to live auctions… some real surprises as people feel personal balance-sheet confidence.
What top three things should a new collector keep in mind when buying a blue-chip car?
Number one: If you can, go try to drive one first. Second: Always hire an expert whenever you can. Make sure that you pay the right amount. I’m split on my third: Protect it, let us help take good care of it afterward, but also just go and have fun with it. We need more people out driving these cars.
If you could recommend just one car to a new collector, what would it be?
Buy a [Porsche] 911, it’s always my first recommendation. A 911 of any era…. They’re bulletproof, and you can find a flavor for almost anyone.
Either | Or
PCH. I went to school at Pepperdine—I can’t resist. I’ve driven that highway for years, and I’m going to keep on doing it until I can’t do it anymore.
I still think there’s a place for the best of the best to be shown, and while Cars & Coffees make the world go round, concours d’elegance are where you get to see legends driving right in front of your eyes.
There’s nothing more romantic than the Monaco Grand Prix, but the Indy 500 is where it all is. I grew up listening to it on the radio.
You gotta find your gateway drug, so I would say you start with the F80. And then when you realize there are three of them at your local Cars & Coffee, you go get your F40.
It’s a Carrera GT. It’s really the end of that line of a truly, truly analog supercar.
