Mark Hyman is the owner of Hyman Ltd, a St. Louis company that trades in high-end collectible cars.
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The classic car industry could be hurt by tariffs, too
Higher tariffs on cars and parts could sideswipe the collector car industry. More than 20 million cars are classified as "collector cars" in the United States, according to Hagerty Insurance, a company that insures them. More than $1.5 billion worth of collectable vehicles are sold at auction each year, but that represents only a tiny slice of the trade. About 95% of collector car sales are not at auctions.
