An $18 million Ferrari leads record classic-car auction at Amelia Island. See all 10 top sellers

Wealthy car collectors spent a grounds magnitude astatine the classic-car auctions astatine Amelia Island implicit the weekend, suggesting the marketplace remains beardown contempt recession fears and falling stocks.

Total income astatine the Amelia Island auction reached $178.4 cardinal — a grounds for the event, topping the 2016 grounds of $140 million, according to classic-car security and events institution Hagerty. Over 390 cars sold, astatine an mean terms of $455,293, up from $435,939.

A full of 43 cars sold for implicit $1 million, up from 33 past year, according to Hagerty.

The beardown income and large prices connection the latest motion that the collectibles marketplace is mostly defying fears of a recession, rising rates and a falling banal market. While collectors are starting to propulsion backmost connected immoderate over-priced offerings, wide request for apical trophy cars remains strong, particularly among a caller procreation of millennial and Gen Z collectors.

"The marketplace is truly beardown but not overheated," said McKeel Hagerty, CEO of Hagerty.

The astir costly car sold astatine Amelia Island was a 1962 Ferrari 250 GT SWB California Spider, sold astatine Gooding & Company for $18 cardinal — mounting a grounds for a car sold astatine the Amelia Island auctions.

The runner-up was a 2010 Pagani Zonda R Coupe that went for $5.3 cardinal astatine RM Sotheby's, followed by a 1995 Ferrari F50 Coupe that sold for $5.1 cardinal astatine RM Sotheby's. Of the apical 10 astir costly cars sold, 7 were Ferraris, showing the continued dominance of the marque astatine the apical of the classic-car market.

Hagerty said income contiguous are getting an other boost from younger collectors who favour what helium calls "analog super-cars" — sports cars from the 1980s and 1990s that person the look and high-performance of galore of today's ace cars but astatine a little terms and with retro flair.

Still, immoderate bidders appeared to balk astatine asking prices: According to the K500 Classic Cars Index by Kidston, 60% of the income entries astatine Amelia Island sold for beneath their debased estimate, compared with 48% past year.

Here are the apical 10 cars sold by worth astatine the Amelia Island auctions, according to Hagerty.