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$1.3B worth of classic cars were auctioned in 2014

The collector auto market in the US just continues to expand with the values of vehicles seemingly only growing in the past years, especially if they have a prancing horse on the hood. This year was no different. According to data compiled by classic car insurance agency Hagerty, there were about $1.3 billion worth of vintage rides auctioned in North America in 2014, up just slightly from $1.2 billion crossing the block in 2013. If you want an idea of just how big a role the Monterey Car Week plays in the North American collector hobby, Hagerty's stats illustrate it perfectly. The company recorded $430 million in auction sales during the week – about a third of the entire market for the year. The event also hosted the biggest seller of 2014 when the hammer fell on a 1962 Ferrari 250 GTO (pictured above) for $38.115 million at Bonhams. In fact, vintage Ferraris in general were among the top buys in the classic auto world in 2014. Eight of the ten most expensive vehicles sold at auction were Prancing Horses (the other two were Ford GT40s). Also, the insurance company's price index for these Italian stallions showed a 43-percent gain in value for the year. The market for another Italian supercar is exploding, as well. The Lamborghini Countach showed a staggering 175-percent growth in auction value in 2014. According to Hagerty, the average price when they crossed the block was $736,599. Judging by Hagerty's numbers, there were still some places to look for those hoping to spend a bit less money. The Aston Martin Lagonda showed a strong gain in value with a 32-percent increase in auction price, but they still averaged $47,078. In addition, the company's index for '50s American cars showed only one-percent growth for these classics. These huge leaps in collector car value might be winding down, according to Hagerty. It predicts growth in the market to slow to an estimated five percent gain in 2015. Maybe a few of these classics might actually become a bit more affordable to fans without such deep pockets sometime in the future. Featured Gallery Bonhams Maranello Rosso Collection: Monterey 2014 View 21 Photos News Source: HagertyImage Credit: Copyright 2014 Drew Phillips / AOL Aston Martin Ferrari Lamborghini Auctions Car Buying Performance Classics aston martin lagonda ferrari 250 gto Lamborghini Countach collector cars 1962 ferrari 250 gto auto auction

Ferrari Names Sergio Marchionne CEO | Autoblog Minute

Sergio Marchionne is consolidating his power at the iconic Italian sports car maker. By adding the CEO title he will have even more power and control over the daily operations of Ferrari. Ferrari Autoblog Minute Videos Original Video Sergio Marchionne

Ferrari 812 Superfast roadster on the way next year?

We'll lay this rumor here as a marker and compare it to future events. In a thread on the Ferrari Chat forum anticipating the reveal of the Monza SP1 and SP2, Ferrari expert Marcel Massini stopped by a few weeks ago to write, "Just wait till the 812 S Spider comes out (with a folding roof similar to the Portofino)." We don't know where Massini got his information, but he comes with credentials. The Swiss resident has been called "the world's leading Ferrari historian," documenting the Italian carmaker in books and articles for more than 35 years, and in 2014 he debunked the story of a 250 GTO for sale for $63 million because he knows where each of the 39 remaining GTO's are parked. If there's an 812 Superfast convertible on the way, the question is whether it will be another severely limited edition. Ferrari has lately been at its most restrained with V12 series production convertible models. The most recent was the F60 America, based on the F12 Berlinetta. That model was for the U.S. only, and Ferrari built 10. Before that, Ferrari made 80 examples of the 599 SA Aperta; this is the company that built 209 of the LaFerrari Aperta. The Ferrari 575M Superamerica, the first Ferrari with an electric hardtop, got 559 examples, and the brand made 448 models of the 550 Barchetta Pininfarina in 2001. You need to go back to the 1973 365 GTS/4 for the next-most-recent droptop V12. As for the roof mechanism, another forum member said he'd seen the car and the roof opens in the style of the mid-engined 488 Spider. On the Portofino, the entire rear decklid raises, the roof and backlight split in two, and a folding truss lays them upright in the trunk. The 488 roof also breaks in two, but it flips around hinges atop the B-pillar, resting upside down in a space above the engine. Mimicking the 488 for a front-engined GT would evoke the 575 Superamerica. That glass roof and backlight on that car were one piece that rotated around the B-pillar axis; when the roof was open, the underside of the roof was exposed. A bit of trivia: Leonardo Fioravanti designed the droptop 365 GTS and the roof mechanism for the 575 Superamerica. Yet another forum member said he attempted to place a deposit on a convertible 812S, but his dealer didn't know anything about the car, which isn't surprising. Related Video: Forum user gt_lusso wrote that the 812S Spider will come within 12 months.