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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 bursts into flames in London traffic

Italian supercars have a well-deserved reputation for sexy styling, fiery souls, and eye-wateringly high performance. They also have a reputation for occasionally bursting into flames with little to no provocation. The latest example of this startling habit happened in London when a bright yellow Lamborghini Aventador caught fire in the middle of rush hour traffic. According to Express, six firefighters and one engine from the London Fire Brigade were dispatched to the intersection of Southwark Street and Blackfriars Bridge in central London on the evening of June 8. When they arrived, they found a bright yellow Lamborghini Aventador burning in the middle of the street surrounded by curious onlookers. Traffic at the busy intersection ground to a halt as police moved people away from the burning car and firefighters worked quickly extinguished it. "This chap was sitting in traffic and I heard the car revving then someone shouted, 'Your car is on fire'," Dan Jenkins, a passerby who filmed the incident, told the Evening Standard. "It started off as a small flame on the side and then it escalated very quickly getting close to the engine. At the start, it looked like the exhaust was flaming like some supercars do." Amanda Compton, another witness, told the Standard, "The driver was revving up the car at traffic lights in a queue, there was a loud bang and the engine caught fire." Thankfully, the driver escaped unhurt, but the Lambo is probably a total loss. This isn't the first Aventador that has burned to the ground after the driver got a little too spirited with the accelerator. In October 2015, another yellow Aventador burned down in Dubai after the driver redlined the big V12 a few too many times in traffic. Related Video: News Source: The Evening Standard, The Mirror, The Express Auto News Weird Car News Lamborghini Coupe Supercars car fire

Lamborghini previews new Huracan Super Trofeo

The arrival of the new Huracán is big news for Lamborghini, replacing the company's long-serving Gallardo. Not only had the previous V10 supercar been on the market since 2003 (admittedly with significant updates along the way), it also served as the backbone for the Super Trofeo series. Now it's time, however, for the Huracán to take over on the racetrack, too.
Previewed in the teaser image above wearing military camo, the new Lamborghini Huracán Super Trofeo has undergone its first shakedown at the Vallelunga circuit near Rome. Giorgio Sanna - who took over as Lamborghini's chief R&D test driver after the retirement of the legendary Valentino Balboni - led the test session, accompanied by factory pilots Adrian Zaugg and Fabio Babini and members of the company's driver development program.
The Huracán Super Trofeo will be phased in across all three of the Lamborghini Blancpain Super Trofeo series around the world, including Europe, Asia and North America. Drivers not ready to upgrade to the new machinery, however, will still be able to race their Gallardos in a separate class - similar to how arch-rival Ferrari has phased in new models in its similar Challenge series.