2008 Lamborghini Gallardo Superleggera on 2040-cars

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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

Drive shows how Lamborghini LP750-4 SV hits 217 mph

No matter how you look at it, the Lamborghini Aventador LP750-4 SV is an absolutely astonishing automobile. Imagining more performance than the standard Aventador is difficult by itself, but company's engineers are able to boost power by almost 50 horsepower to 740 ponies, and copious carbon fiber body parts trim 110 pounds from the scales. We also already know that this limited model offers the spectacular ability to race around the Nurburgring in just less than seven minutes. Now in a sponsored video about Lambo, the brand's research and development boss Maurizio Reggiani is poetically telling Drive what goes into crafting such a special machine. According to Reggiani, the whole point of the SV is to make any driver feel like a hero behind the wheel. The model's abilities should let a person reach their own limits well before the coupe ever nears its own. That massive performance envelope then pushes the coupe's owners to keep getting better. While Reggiani beautifully expresses the passion behind engineering the Aventador SV, the real thrill in this clip is seeing and hearing the coupe snake around the Catalunya circuit. The 6.5-liter V12 makes a symphony of exquisite sounds around the Spanish track. Best of all, the closer the revs get to the 8,500-rpm redline the more that the engine lets out that rapturous wail. This is a video where you should turn the volume up and enjoy.

Justin Bieber arrested for possible DUI, drag racing [w/video, UPDATE]

Pop star Justin Bieber was arrested early this morning in Miami Beach, FL with TMZ.com listing his charges as including driving under the influence, drag racing, resisting arrest and driving on an expired license. TMZ says that Bieber was stopped for street racing his Lamborghini Gallardo, then failing a field sobriety test, and is being charged with resisting arrest for "refusing to take his hands out of his pockets."
It's also being reported that Bieber was racing against rapper Khalil (also arrested) who seems to have been driving a Ferrari 16M Scuderia Spider (although it was mistakenly called a "red Lambo" in the article). There is no additional information about the arrest of either men, but TMZ has obtained eyewitness video, which is posted below, that shows Bieber in his Lamborghini surrounded by fans and then later shows the car stopped by police officers.
UPDATE: As it turns out, the cars in question didn't actually belong to either Bieber or Khalil. We just received an email that indicates that both the Ferrari and the Lamborghini involved in the incident were rentals. The president of Lou La Vie, an exotic car rental outfit in Miami, is claiming ownership of both vehicles, though didn't provide any other significant information regarding the case.