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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 Aventador SVJ teased at Nurburgring

We've been seeing prototypes and hearing reports about a hopped-up version of the Lamborghini Aventador, but only now have we seen something official from the company. It's officially called the Lamborghini Aventador SVJ, and the company teased it in the above trailer of the car at the Nurburgring. It gives us our best look yet, and some tidbits about what we'll hear next about the car. Let's first address the looks. The front fascia has been revised with a much deeper chin and a big wing splitting the main air intakes in the front. The side skirts are wider with end caps at the forward sections behind the front wheels. Those wheels have motorsport-style single center nuts. In one of the trailer's clips, we can see they're wrapped in Pirelli P Zero Trofeo R tires. It also has the outrageous rear wing we've seen in spy shots, and the exhaust also sits high up like on the Huracan Performante. Finally, while not necessarily part of the looks, we get a look at the instrument cluster that reveals this Aventador has a redline of roughly 9,000 rpm. The other part of the trailer to address is the location. The whole trailer takes place at the Nurburgring, and there's usually only one reason to make a big deal about that: lap times. Lamborghini already proved it can make some wickedly fast track cars with the Huracan Performante, a car that laps the infamous track faster than any other Lamborghini (so far) and faster than even the Porsche 918 Spyder. We expect the Performante's left-right split active aerodynamic system will appear on this car. Add to it much more power from the V12, and we have a potential 'Ring monster. Rumors even suggest the Aventador SVJ will have a lap time of around 6 minutes, 45 seconds, faster than the 911 GT2 RS. The SVJ will probably be much lighter than other Aventadors, too. The Twitter post that features the trailer says something slightly ambiguous about having "the best weight to power ratio." We assume that means the best of any Lamborghini. Since this is a teaser, we're expecting to see a more full-fledged video in the near future, hopefully with at least lap time, if no other specifications. Also, the fact that Lamborghini is showing this much of the car now is a sign that a full reveal can't be far away. The Paris Auto Show would be a natural location since it's early this fall. Stay tuned for more in the near future. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences.

VW pulls Lamborghini and Bentley from the Paris Motor Show

It's been slightly more than a year since the news that Volkswagen had intentionally cheated on diesel emissions testing broke. Since then, the company's reputation and image have suffered and it has struggled to regain its footing and composure. The automaker is shelling out billions in fines, so cost cutting is inevitable. Today, Reuters reports that Volkswagen subsidiaries Lamborghini and Bentley won't bring their elaborate displays to the Paris Motor Show next week. Auto shows can cost automakers millions of dollars, especially for supercar and luxury car brands that constantly try to compete and one-up with each other. Much of the money and fanfare goes to catering the media, and if an automaker has nothing new to reveal it can be difficult to justify the expense. The company told Reuters that it plans to attend smaller events that focus more on potential buyers. The Volkswagen group as a whole has shifted it's focus, both when it comes to products and auto shows like Paris. Next week, the automaker will be focusing on electric vehicles and electromobility. The company plans to reveal a new EV with 373 miles of range, eclipsing both the Tesla Model 3 and Chevy Bolt. Volkswagen has plans for 30 new electric vehicles by 2025. Lamborghini and Bentley aren't the only major automakers skipping Paris. Ford, Volvo, and Aston Martin have all decided to save money and focus their efforts elsewhere. Related Video: