The Week the World Bought Paris!

So taking stock, assessing the balance sheet, and tempering the claims made by various observers is what I will attempt to do in the lines that follow.

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Rétromobile was, for us, an edition to remember—on a human, commercial, and strategic level alike. But once the sales were over, dreams fulfilled or expectations dashed, a quick look in the rear-view mirror was necessary to briefly reposition ourselves within the context.

Before the show—held a week earlier than usual this year—experts and collectors were still discussing the results of the Bachman Collection sold by Mecum in Kissimmee in early January. Was it a one-off phenomenon or the new standard of the exceptional? Would the Old Continent have the opportunity to respond in the French capital with sales catalogs comparable to those of Monterey? That was the question.

Two figures set the tone: the pre-sale estimates for the ten most expensive cars totaled €72.5 million, and forty-seven cars were estimated at over €1 million. The ambition was clearly there.

After the sales, the conclusion is more nuanced yet rich in lessons. Records were set, attendance was—quite incredibly—strong, presentation quality improved markedly, but the market is fragmenting sharply. Certain categories are booming, others stagnating or declining, and several key trends are emerging.

The rise of the French capital as a credible international marketplace—standing alongside Monterey, Amelia, or Kissimmee in terms of lot quality, staging, and logistics—no longer needs to be demonstrated. Rétromobile is one of the rare shows that brings together such a diverse audience. Men and women alike, along with a younger public, made the trip—proof that the automobile continues to fascinate. The creation of the Supercar Garage is no stranger to this trend, encouraging younger generations to discover the foundations of the cars they will covet later.

Then comes Ferrari’s dominance—both classic and modern—serving as the emotional and financial barometer of the market. In another register, the largest dealers have never been so powerful, acting as locomotives for a constellation of players ranging from auction houses to independent traders. Polarization has become extreme: the best goes only to the best, at staggering prices. Exceptional cars far exceed their estimates, while merely “good” examples struggle to seduce.

The generational shift is evident, marked by the relative decline of pre-war cars and the massive influx of youngtimers and modern supercars. There is no doubt that organizers must ensure the show does not become a branch of the 1990s Paris Motor Show. While the market has matured—where condition, history, true rarity, and cultural desirability now outweigh mere badge prestige—we must not forget that the relationship to money bears no resemblance to what we knew at the dawn of the 2000s. The new “ultra-rich” are increasingly numerous… and their appetite ensures there will not be enough for everyone.

The 2026 Top Ten exceeded €71 million (target achieved), with cumulative turnover reaching €153.6 million! This was the most successful week ever recorded for collector car auctions at Rétromobile, far surpassing the 2025 Top Ten’s €56 million and its cumulative €103 million turnover.

Gone are the days of Delage and Delahaye projects to restore, meticulously examined and photographed by French enthusiasts. Now youngtimers abound, and the great French coachbuilt cars—when present—are restored to extremes, still reigning in the midst of a horde of Pagani, Bugatti, Koenigsegg, and McLaren ready to devour them.

While the public was predominantly French, buyers were undeniably international, and borders—read customs duties—are little more than minor details in our microcosm. Cars no longer cross the globe to join their new owner’s garage; instead, owners cross the globe to acquire them. The relationship to money has changed, as has the way of owning.

If the average price of cars sold this year soared by 70%, rising from €311,176 to €529,541, the average year of manufacture remained relatively stable: 1970 versus 1968 in 2025, across the 290 cars presented. The key takeaway, however, is that 15% of catalogued vehicles exceeded their high estimates, compared to 9% last year—despite a lower sell-through rate of 73% versus 85% in 2025. Was this due to the reduced percentage of no-reserve cars (46% versus 60%)? Or the calculated risk taken by some sellers betting that current frenzy might achieve the impossible?

Unsurprisingly, Ferrari structured both expectations and results. Gooding Christie’s, in its first European appearance, adopted a clear strategy: set up at the heart of the show and make a statement. Their Ferrari 288 GTO, showing just 1,500 km and two owners, shattered records at €9.1 million—a new world record. This result, several million above recent U.S. sales, sent a clear message: Europe is no longer lagging in this segment—provided the example is impeccable.

Conversely, their 1960 250 GT SWB Berlinetta, a steel-bodied car with competition history and still configured for historic racing, seemed to me positioned in an ambitious value zone. Its high estimate, given its condition and potential restoration costs, illustrated one of the week’s key messages: the market accepts strong prices, but only when the product is perfectly aligned with current expectations.

Look at the Ferrari 250 GT LWB Berlinetta Tour de France and the 250 GT SWB California Spider presented by RM Sotheby’s. They embodied what a collection jewel can be: a car steeped in history, with a dazzling competition record, offered at a high yet defensible level thanks to its singularity. The former ultimately sold in aftersale at €12 million—below what its previous owner had paid just a few years ago. Though chassis #0557 was not the ultimate evolution of the model, it remains a car that forged Ferrari’s legend and prestige—a legend upon which its contemporary sisters now rely.

The latter, hammered at €14 million, demonstrated that an icon with coherent history and timeless aesthetics can command enthusiasm despite imperfect condition. Nearby F40s, F50s, or Enzos almost seemed secondary in the eyes of some visitors.

Other cars revealed fragility when neither rare nor impeccable. Vehicles that tell a story—those with aesthetic, technical, and cultural coherence—continue to seduce at high levels. The others, even prestigious ones, are judged without indulgence. A sad fate, perhaps—but one that opens real opportunities for first-time buyers and enthusiasts who once bought Dino 246 GTs, 308 GT4s, or Testarossas at accessible prices because they were unloved.

Today, they may acquire 308 GTBs, 348s, 456 GTs, 550 Maranellos, or Testarossas at “discounted” prices under the pretext of high mileage or a repaint. Be aware: a new market is taking shape, and the future will vindicate those who dare to buy in order to drive these “classics,” whose odometer readings will matter little after mechanical rebuilds or body restorations.

Recall that the 250 GT SWB California did not exceed €14 million because its restoration was dated and non-compliant. No doubt it will pass through Ferrari Classiche to reemerge as it left the factory—its value rising as the weight of years disappears. Did you see any mention of mileage in last year’s multi-million-euro Ferrari presentations from the 1950s, ’60s, or ’70s, restored to the last bolt? Of course not—because once the first or second “facelift” is done, it no longer matters.

If you have read this far, here is the core of my thought: a single record does not create a market, but it sets the tone. At Rétromobile, sales launched 2026 at such a level that general enthusiasm—and the hopes of some speculators—ultimately exceed the market’s true depth. The progress observed over the past two months is impressive, yet distorted by extreme results that mask the emergence of a new “wasteland” populated by fallen cars.

Out of pure snobbery or herd behavior, one dismisses an XK 120—though it is breathtaking and a ticket to Le Mans, Tour Auto, or the Mille Miglia. One snubs a Ferrari 456 GT—one of the most beautiful 2+2s ever built—still priced like a new Volvo V60. One prefers a Porsche 991 Carrera S over a 1970 2.2 S because the latter lacks its service book…

Stay alert: a new market is entering the arena. Between “openly assumed speculation” for the newest cars and “irrational disinterest” toward those guilty of having lived as pleasure cars, the question is no longer whether they will find buyers—but at what price level.

Fine classics & Racing cars • La Vente de Printemps
Auction on Sunday, March 15, 2026 at 3:00 p.m.
Paris, Espace Champerret
Contact : automobiles@aguttes.com