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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

EVO dubs Ferrari 458 Speciale its Car of the Year

While some publications are concerned with finding the best car or truck for the average buyer and slapping a ribbon on it, or (in our case) identifying the best new automotive technology of the year, across the pond our compatriots at Evo are more single-minded in their approach. Every year, the British car mag awards its Car of the Year to its top new performance automobile on the market. And this year, they've picked the Ferrari 458 Speciale. The stripped-out supercar from Maranello beat out some heady competition. Second place went to the Jaguar F-Type R, followed by the Porsche Cayman GTS, VW Golf R, Renaultsport Megane 275 Trophy-R, BMW i8, McLaren 650S Spider, Aston Martin Vanquish, BMW M3 and, last but not least, the Audi S1. It was only the second time a Ferrari won the eCOTY award, after the 599 GTB Fiorano took top honors in 2006. Precedent suggests the magazine typically hands the award to a version of the Porsche 911 – like the GT3 that won last year, preceded by other Elfens in 2011, 2010, 2007, 2004, 2003, 2000, 1999 and 1998 (when the award was inaugurated). Why is the latest 458 derivative so... Speciale? Watch this video to find out.

Ferrari F12 races Air Malta A320 jet

Air Malta recently worked up a little stunt that pitted an Airbus A320 against a Ferrari F12 Berlinetta in a drag race to raise funds for charity. It's easy to forget just how quick something the size of a jetliner can be, but watching the video below shows us just where the big passenger aircraft stands when it comes to sprinting down a runway. We won't spoil the clip for you, you'll just have to check out the showdown below.
Air Malta says it raised over 178,820 euro with the stunt, which is around $230,000. That's despite the fact that intermittent rain showers kept crowds away. Formula One racer Lewis Hamilton even stopped by to say "Hi" to the crowds. He wasn't piloting the F12, however. Check out the video below for yourself.