The Reserve Report

THE RESERVE REPORT - MAY 2026

More than half a billion dollars - on fewer cars.

Historical Coverage
Historical coverage series. This report was prepared on October 7, 2026 using period-correct public market data. The May 2026 label describes the coverage period, not the original publication date.
Executive Read

More than half a billion dollars - on fewer cars.

May continued 2026's defining pattern: fewer listings, slightly fewer sales, but substantially more dollar volume. Total listings fell about 8% year over year and sold listings about 2%, while average price rose roughly 28%.

DOLLAR VOLUME>$500M
VS. 2025+26%
AVG. PRICE~$72K
SELL-THROUGH72.5%

Selected public price discovery

Model / MarketResultMileage / DetailContext
1963 Ferrari 250 GT SWB California Spider$18.150M-Top May sale
2023 Ferrari 812 CompetizioneEUR 1.4125M418 miVilla d'Este - May 16
2022 Bugatti Chiron Super Sport$4.400M-Bring a Trailer - top online sale
Ferrari6 of top 10-Enzo / F50 / LaFerrari / F40 included

What the tape says

Ferrari remained the center of gravity

Six of the ten highest sales were Ferraris, spanning analog icons and modern limited-series cars.

A richer mix lifted the average

The rise in average price was not evidence that every car gained 28%; higher-value cars represented more of what changed hands.

Online could handle real money

A $4.4M Chiron Super Sport online result showed that high-dollar digital transactions were no longer an edge case.

The Twelve Reserve view

May favored sellers with genuinely special cars, but it also rewarded realistic reserves. The strongest strategy remained simple: separate the irreplaceable car from the merely expensive car, and price each accordingly.

Individual results are reference points, not universal valuations. Mileage, specification, originality, history, condition, venue and timing all matter.