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Burt Reynolds Smokey and the Bandit Trans Am sells for $450k

Apparently, there's still a lot of love out there for by Burt Reynolds and his famous role in Smokey and the Bandit – or at least for his car. As you might remember, Autoblog reported on the auction of the 1977 Pontiac Trans Am a few week ago. At the time, the movie star's car was already well past its $80,000 top estimate, and bidding only shot up from there for a final price of $450,000. That seems like a lot of money for a Trans Am that never actually appears in Smokey and the Bandit. According to the listing, the car was used to promote the film and was given to Reynolds afterward with his name on the title as proof of ownership. The Trans Am looks practically identical to the one in the movie with black paint, the gold firebird on the hood and Bandit name on the driver's door. This one packs a 400-cubic-inch (6.6-liter) V8 with a 4-barrel carburetor under the hood, an automatic transmission and a plaque inside the door that proclaims "1977 Pontiac Trans Am Owned By Burt Reynolds." The wedding stagecoach based on an International Harvester Scout we mentioned in the earlier story also beat its top estimate of $20,000. It went for $34,375, according to the auction house's website, and in total the sale raised about $2.5 million. Scroll down to read the full announcement from Julien's Auctions. LEGENDARY STAR BURT REYNOLDS PROVES TO BE AS ICONIC AS HIS AUCTION RESULTS "Smokey and the Bandit" Trans Am Sells for $450,000 Career Memorabilia including Awards, Personal Items and Film Worn Costumes along with Vast Art Collection from Reynolds Museum Caliber Private Collection Featured at Julien's Auctions This Week Brings in $2.5 million Las Vegas, Nevada – (December 15, 2014) – Julien's Auctions, the auction house to the stars concluded a whirlwind two-day auction of The Collection of Award Winning Actor Burt Reynolds. The exciting auction event featuring personal effects, career memorabilia, and a museum-caliber fine art collection took place at the Palms Casino Resort Thursday and Friday with bidders from around the world bidding high and bidding often. Burt Reynolds, best known as a leading film star, has had a storied career both on the big and small screen. Aside from his award winning portrayals of some of the world's most iconic characters in film and television, Reynolds is also a businessman who has owned a football team, a dinner theatre, a working ranch and even a museum.

What's driving the spike in air-cooled Porsche 911 prices

Classic car prices have been racing skyward in general, but prices for air-cooled (pre-1999) Porsche 911s are ascending like they're strapped to rocket boosters. It's been going on for years, and every year people are surprised by how outrageous it's getting: Classic Driver covered it this month, as did The Truth About Cars who included this example of a "scruffy" 1993 RS America with 215,000 miles asking $80K; Mike Spinelli at Drive riffed on it at length last year along with a host of classic-car-market observers; Porsche forums were at it two years ago; and let's not even get into the 993 Turbo, going for prices so high you have to lie down to look at them. Speed Academy has run a piece looking at why it's happening, one theory being that regular-guy owners are hopping on the runaway-price wagon without any good reason. As in the example of that high-mileage, scruffy 911 RS America at Bring a Trailer, the owner sees pristine examples valued by Hagerty at $170,000, and even though the average value is $93,238 he thinks something like, "Mine's got to be worth half of top dollar ..." The tide - even one rising on air - makes it hard to find decent prices. Then there is the flood of money into the market. In spite of articles that try to temper investors' outlooks on collectible cars, other articles in places like the Financial Times and the Guardian promote vintage metal as a safe place to put money and reap astonishing returns. Speed Academy thinks one side effect of high 911 prices is that responsible enthusiasts are turning their attention to cars like the BMW 2002, E30 M3, and E9 3.0CS, saying their prices are "sharply on the rise." The entire article is worth a read since it goes into markets far afield from pricey German steel, but incredibly, the entire piece was actually inspired by a 1997 Acura Integra R that sold for $43,000 on eBay. So while this could be the best time to get into the classic car market if you know what you're doing, it is certainly the best time to do your homework. Related Video:

GM Recalls 1.5 Million Cars For Steering Defect

General Motors Co. said Monday it is recalling 1.5 million vehicles worldwide because the electronic power-steering assist can suddenly stop working, making them harder to steer. The new recall brings to 6.3 million the number of vehicles GM has recalled since February. The initial recall - now at 2.6 million small cars for an ignition switch defect - prompted the automaker to name a new safety chief and speed up the review of cases that might lead to recalls. GM said it expects recall-related costs to total $750 million in the first quarter, including $300 million for the ignition switch recall. Included in the new recall are: - Chevrolet Malibu from the 2004-2005 model years, plus some 2006, 2008 and 2009 model-year cars. - Chevrolet Malibu Maxx from the 2004-2005 model years, plus some 2006 model-year cars. - Chevrolet HHR from the 2009-2010 model years (non-turbocharged only). - Some Chevrolet Cobalts from the 2010 model year. - Some Saturn Auras from the 2008-2009 model years. - Saturn Ion from the 2004-2007 model years. - Pontiac G6 from the 2005 model year, plus some cars from the 2006, 2008 and 2009 model years. - Service parts installed into certain vehicles before May 31, 2010, under a previous recall GM says no deaths related to the defect have been reported. It is still investigating whether there have been any accidents or injuries related to the problem. GM dealers will replace the power steering motor and other parts for free. Spokesman Alan Adler said owners will be notified of the recall the week of April 28 and will be told when parts are available after that. The Cobalt and the Ion, which are also involved in the ignition switch recall, share many common parts.GM recalled Cobalts from the 2005-2010 model years for the power steering defect in 2010, but it's unclear why the company didn't recall the Ion at the same time. Federal regulators also opened an investigation into power steering complaints in the Ion in 2010, but didn't order a recall. Related Gallery 2014 Chevrolet Corvette Stingray Test Drive View 9 Photos Recalls GM Pontiac Chevy Cobalt saturn ion pontiac g6 Chevrolet Cobalt Chevrolet HHR