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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

Ferraris, Porsches and planes star at McCall’s Motorworks Revival

MONTEREY, Calif. – McCall's Motorworks Revival, sometimes called The Jet Party, kicked off vintage car week here as enthusiasts streamed into the region for days of car shows, official automaker events and hob-knobbing leading up to Sunday's Pebble Beach Concours d'Elegance. Held at the Monterey Jet Center, the revival featured an array of exotic and classic cars blended in with planes, racecars, motorcycles and luxury items like jewelry. This year the eclectic lineup of cars included vintage Ferraris and Porsches, a raised 1964 Chevy Impala, a classic Toyota Land Cruiser and a Cobra. The 1960s Ford GT40 racecar sat near the modern Ford GT, while Camilo Pardo, the designer of the in-between generation (2004-06), held court nearby. Iconic planes like the B25, P51 and an ancient biplane were intermingled with the flashy cars. Show-goers tipped drinks, tossed back heavy hors d'oeuvres and desserts, ogled the seemingly random collection of amazing machines and prepared for days of celebrating the automobile on the Monterey Peninsula. The revival is in its 26th year and is put on by McCall Events, whose owner Gordon McCall is a class judge at the concours and the cofounder another Monterey car week staple, the Quail. The revival also collects donations for a California police charity. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery McCall's Motorworks Revival 2017 View 29 Photos Image Credit: Copyright 2017 Drew Phillips / Autoblog.com Ferrari Lamborghini Porsche Coupe Motorcycle Luxury Performance Pebble Beach

Race recap: 2016 Hungarian Grand Prix was the pits

The Hungarian Grand Prix hasn't seen a race this calculated since 2012, when Lewis Hamilton – driving for McLaren – led from pole position to the checkered flag. We don't expect massive action from the Hungaroring, but Hamilton's first win for Mercedes in 2013, the thrilling wet mess in 2014, and Ferrari's surprising dominance in 2015 made us hope for more on-track commotion this year. Hungary denied us that. Hamilton parked his Mercedes-AMG Petronas in second on the grid but stole the lead through Turn 1 and never looked back. Teammate Nico Rosberg yo-yoed behind him in second place, getting into DRS range on a few occasions but never close enough to pass. Red Bull's Daniel Ricciardo kept the leading duo honest, but the Aussie couldn't put genuine fear into the German team and finished third. This is the third year in a row for Ricciardo on the Hungary podium. The pits provided our few scraps of excitement. During a stretch when Ricciardo managed to close on Rosberg, Mercedes told Hamilton to speed up. When Hamilton said he couldn't go faster, Mercedes said they'd pit second-place Rosberg first instead. Suddenly, Hamilton found the extra pace. Ricciardo pitted in early, hoping that fresh tires and fast laps could allow him to pass one or both Mercedes drivers when they pitted, but once Hamilton hit the throttle the Red Bull couldn't respond. Further down the lineup, Jenson Button came in on Lap 5 so McLaren could fix his brake pedal problem. The radio exchange before the stop included one forbidden instruction to Button, though, so the Englishman had to return to the pits for a drive-through penalty. Renault's Jolyon Palmer beat Force India's Nico Hulkenberg in a straight-up pit stop battle on Lap 40, but threw the good work away on Lap 49 with a spin on track that cost him three places. A pit wall miscommunication meant the Force India pit crew wasn't ready for Sergio Perez when the Mexican arrived for his second stop on Lap 43. And Daniel Kvyat's regrettable run at Toro Rosso continued, first with car issues, then a drive-through penalty for speeding in the pit lane. Sebastian Vettel brought his Ferrari home fourth, sniffing Ricciardo's gearbox at the flag but unable to get around the Red Bull. Max Verstappen enacted a replay of the final stages of the Spanish Grand Prix, finishing fifth by holding Ferrari's Kimi Raikkonen behind for 19 laps.