Throughout 2023, Hagerty tracked a correcting market where sellers' expectations were often not being met by potential buyers' willingness to part with cash that had become more expensive to borrow. The demographic needle also shifted rapidly towards Millennials as being the new driving force behind the classic car market, fuelling a rise in new market segments. The result was a year of correction, something that many people argued was long overdue.
Hagerty's UK Price Guide Editor, John Mayhead, reported that just 29% of models tracked on the UK Hagerty Price
