Before playing No Son of Mine, he joked: "Some of you first heard this when some of you had hair."
Later he asked: "Any old people here tonight, apart from us? Actually there are a lot of old people tonight - nothing wrong with that."
Collins performed an impressive drum duet with band member Chester Thompson which involved using the stools they were sitting on as a drum kit.
A smattering of celebrities attended tonight's concert including former television presenter Angus Deayton and Jackie Stewart.
The band, who played at Live Earth in Wembley last night as well as Old Trafford in Manchester, are due to continue with their European tour which ends in Rome next weekend.