With Monterey Car Week underway, all eyes in the collector car world are on the auction tents. The sales here are more than just headline-making spectacles—they’re a barometer for the health of the high-end automotive market. From million-dollar Ferraris to century-old Brass Era machines, the results in Monterey often ripple across the industry, influencing pricing, demand, and collector sentiment.
Steven Posner, CEO of Putnam Leasing, has been navigating this landscape for over four decades. His company partners with all the major Monterey auction houses, offering specialized leasing options that help buyers acquire dream cars—often with notable tax advantages. For many collectors, Putnam’s financing is already in place before the bidding begins.
“It really depends on the automobile,” Posner says when asked whether auction estimates are aligning with results. “I’ve seen estimates that are so out of whack, but the prices have been obtained—and then some. It’s only day two of the auctions, but the market looks really strong.”
According to Posner, buyer preparation varies. Some have secured preapproval weeks in advance, while others scramble in the final hours before the gavel falls. This year, Putnam is seeing strong pre-qualification interest in mid-1960s to late-1970s classics as well as Brass Era cars, indicating a diverse appetite among high-net-worth collectors.
Posner notes a generational shift in the clientele, too. “We’ve seen an increase in younger collectors and entrepreneurs looking for the unique product we offer. There’s also been a surprising rise in younger buyers showing interest in Brass Era cars.”
One factor that sets Putnam apart from competitors, Posner says, is longevity and continuity. “We are the oldest and largest leasing company that’s still owned by the original owners that do what we do in the United States,” he explains. That stability, coupled with deep industry relationships, allows Putnam to facilitate transactions in a fast-moving environment where timing can be critical.
While the gavel hasn’t yet fallen on the week’s top lots, Posner and his team are closely watching how results shape the market’s next chapter. Whether it’s record-breaking exotics or historically significant pre-war cars, the action in Monterey continues to signal where collector enthusiasm—and money—are headed.
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