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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

Aston Martin DB11 gets back to work at the Nurburgring

The Aston Martin DB9 has been around for over a decade now. Classic though its styling may be, that means it's ripe for replacement. Fortunately that's just what Aston Martin is working on, as you can see from these latest spy shots. Snapped undergoing development at the notoriously grueling Nurburgring, this prototype appears to have ditched the camouflage worn by the last one we saw in favor of the black body cladding from our earlier shots. That makes it tough to tell anything about its final design, but if precedent proves anything, it ought to be pretty striking once the production bodywork is put in place. The new DB11 (or whatever it's ultimately called) is being built on a new platform that's set to replace Aston's long-serving VH architecture that has adapted over the years but essentially dates back to the V12 Vanquish that debuted way back in 2011. Aston is expected to keep using its even longer-serving 6.0-liter V12 engine on certain models, but the new DB11 is more likely to get the new twin-turbo V8 being built for it by Mercedes-AMG.

Aston CEO claims Cygnet cancelled because Toyota is dropping iQ in 2014

While slow sales and a $50,000 price tag may have been contributing factors to the Aston Martin Cygnet being cancelled last month, Aston Martin CEO Ulrich Bez is pointing the finger at Toyota for the demise of this luxurious little city car. In a discussion with Autocar, Bez is quoted as saying that the ultimate reason the Cygnet was cut is because Toyota plans on dropping the iQ (on which the Cygnet is based) in 2014 - a claim denied by the Japanese automaker.
Interestingly, the article also cites another publication reporting that a Toyota importer in the Netherlands heard the same news as Bez, and it has already stopped importing the cars. If the European Toyota iQ is cancelled, that would likely spell the end of the slow-selling Scion iQ in the US, which has sold just 3,365 units through September (a drop of 51 percent year over year).
Regardless of why production of the Cygnet ended, Bez also says that a lack of support from Toyota on the project prevented it from being offered in the US or receiving a supercharged engine, which are two factors that likely would have made the car appealing to more buyers.