Are average classic cars declining in ownership?

Yes. The collector demographic is changing from baby boomers to the next generation of collectors. There is some change in car desirability accompanying this.

 

Maybe it's not that young people aren't into them but a perfect storm has brewed. Boomers are a big segment of the population and are dying, while there are just less young people period. The young can't buy all the cars. Add that to the boomers finding value in old cars to the point old POS alfa spiders rusting in yards selling for under $2k a short time ago are now nearing 10x that number today. Everyone thinks there old junk is gold when it is really just old junk.

We also have more americans over age 65 than children in america.

 

It makes sense and likely just a generational thing. I would assume people tend to want cars they desired as teenagers. I have a couple and in 30 years probably will have a hard time finding a buyer for them. I would like a gen 1 Mustang, Camaro, or recreation GT40 so maybe I'm an outlier (I grew up in the 90s), but prices are high for the ones I like especially the GT40s ($200+). I rather get a newer car at those asking prices...

 

You’re probably right. I would make a distinction between the iconic classics and the general old car population. The ‘68 Mustang GT 390 is uniquely famous, and while Mercedes 300 SLs and Porsche 356 Speedsters predate most of us they are likely always going to be sought after.

Prewar classics… I don’t know anyone in my car enthusiast circles who would pay much. As an example, I remember admiring a 1928 Mercedes saloon at Symbolic Motors in San Diego back in the ‘90s. Hugely impressive but I don’t know where I’d use it. With infinite money and garage space, its still more a curiosity than something I’d care to own.