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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

At Lamborghini, gasoline is going, going, gone

Those who've waited this long to plunk down a deposit on a Lamborghini with a full combustion motor have waited too long. For six decades, the Italian brand, founded in 1963 to compete with Ferrari, delivered V8s, V10s and V12 gasoline powered engines to its aficionados. But as of now, its official: the order books have closed on Lambo’s Huracan and Urus models. Stephan Winkelmann, head of the Volkswagen subsidiary, informed the German newspaper WELT this week that all ICE models are now sold out until the end of their production cycle. Only hybrid and electric vehicles will be made from next year and transitioning to the end of the decade. The 2023 Huracan with its 631 horsepower V-10 is starting priced at about $210,000. To prepare for the switch to hybrid power, Lamborghini has invested “at least 1.8 billion Euros,” which is about $2 billion, to produce a lineup of hybrid vehicles ready for release by late 2024 and into 2025. The companyÂ’s next hybrid model is the Revuelto, which pairs a V12 engine with a plug-in hybrid powertrain. The brand anticipates offering a fully electric car “by the end of the decade,” Winkelmann has said. Globally, Lamborghini delivered 9233 vehicles in 2022, up from 8420 the previous year. Related Video This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Ferrari Lamborghini Fuel Efficiency Green Automakers Automotive History Future Vehicles Performance

Pope's Lamborghini Huracan raises over $850,000 for charity at auction

Last November, Lamborghini gave Pope Francis a Huracan RWD customized in the white and gold colors of Vatican City. Unsurprisingly, Pope Francis announced it would be auctioned for charity, and that auction occurred this past week. The car rolled across the block of an RM Sotheby's auction and brought in 715,000 euros, which at current exchange rates is about $857,000. View 6 Photos That's a fairly impressive price considering that an entry-level Huracan starts at right around $200,000. Of course, regular versions don't come with such a prestigious previous owner. An owner who signed and blessed it. Plus all the money is going to charity. Actually, make that charities. The money will be split among a group rebuilding villages in Nineveh Plain in Iraq, an organization that helps abused and trafficked women, and two organizations that help women and children in central Africa. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.