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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

Lamborghini Urus SUV traces roots to a feline predecessor

The recently-revealed Urus isn't Lamborghini's first SUV. The LM002 pioneered the super-4x4 segment when it made its debut at the 1986 Brussels Auto Show. Tracing its history requires traveling to the mid-1970s, when Ferruccio Lamborghini sold the automaker that he founded and retired in the countryside to hunt and make wine. The new owners had practically no experience in building cars. Instead of expanding the lineup, they sought to land engineering and production contracts. Lamborghini teamed up with an American defense contractor named Mobility Technology International (MTI) to create an off-roader for the United States Army. The partnership spawned a vehicle named Cheetah, unveiled at the 1977 Geneva Auto Show. The Cheetah looked like a Meyers Manx buggy on steroids that ate Jeep CJ-7s for breakfast. The shape of the body gave it unusually high approach and departure angles, while the flat body panels facilitated the task of installing body armor. "Like the cat for which it is named, this high-performance vehicle has explosive acceleration, high speed and sure-footed agility over virtually all terrain," a period brochure claimed. The Cheetah could certainly tame Mother Nature's worst side, but the brochure exaggerated its performance credentials. Power came from the same 5.9-liter Chrysler 360 V8 engine found in Dodge's D-Series trucks. Lamborghini mounted it in the back, and its 183-horsepower rating contributed to a woeful power-to-weight ratio. The eight-cylinder spun all four wheels via an automatic transmission also found on Chrysler's parts shelf. Lamborghini didn't secure the Army's contract. The automaker stood on the brink of collapse. An Italian court took control of the company after it filed for bankruptcy in 1978, and a Swiss entrepreneur later came to the rescue. The new management saw an immense amount of potential in the Cheetah and relaunched the project. Decision-makers spotted an opportunity to enter the burgeoning leisure vehicle segment. Notably, they identified a market for a Cheetah-like car in the Middle East, where a Countach was unpractical at best and a Nissan Patrol was far too pedestrian for oil barons. Lamborghini unveiled a prototype named LM001 at the 1981 Geneva Auto Show. It took the Cheetah concept a step further with an updated look, though it retained the rear-mounted engine. Built as a development mule, it illustrated the limits of a rear-engine off-roader.

Lamborghini Veneno could be yours for just $11 million

How could an automaker charge over three million euros for a single automobile, no matter how rare or extreme? That's what we wondered when Lamborghini took the wraps off the Veneno at the Geneva Motor Show, with a price tag working out to over $4 million US using exchange rates at the time. But that suddenly seems downright reasonable when you see how much this owner is asking for one. Listed for sale on a German website by a broker in Japan, this particular Veneno is accompanied by an asking price of ˆ9.98 million. That works out to over $11 million at current rates, or a good three times what it originally cost when new, depending on which currency you're going by. Either way, that's one heck of a markup for a car now three years old, even if it only has about 840 kilometers (522 miles) on the odometer. You'd think, considering its lofty asking price, the seller could have provided some decent pictures, but apparently not. Lamborghini made only three examples of the Veneno coupe for public consumption, and this example is said to be the second. With the other two sold to owners here in the United States (in Long Island and Miami), this appears to be the one sold to a customer in China, and was previously spotted in Hong Kong on its way to Macau. No matter which way you look at it, the Veneno is a rare beast... even counting the nine roadsters that followed with an even more bullish price tag. Put in that context, the ˆ1.75m-euro ($1.9m) sticker price worn by the Centenario revealed in Geneva this year – also based on the Aventador with a more extreme design – seems like a relative bargain. Related Video: