<p>A severely damaged 1954 Ferrari 500 Mondial Spider Series I, marred by fire during a race in the 1960s, has been sold for an astonishing $1.9&nbsp;million. While pristine models of its kind can command around $60 million, this charred relic managed to secure a significant price tag.</p>

<p>This particular Ferrari, one of only 13 featuring the Pininfarina spider framework, met its fiery fate on the racetrack in the 1960s. Left untouched for nearly four decades, it endured another trial when a 2004 hurricane decimated the barn where it had been stored alongside 19 other Ferraris, as reported&nbsp;by the Telegraph.</p>

<p>Despite the ravages of time and fire, the battered Ferrari retains its original chassis plate, gearbox, rear axle corners, and a 3.0-litre&nbsp;Tipo 119 Lampredi inline-four engine.</p>

<p><strong>Also read |</strong>&nbsp;<a href="https://www.wionews.com/world/elon-musk-puts-up-twitter-memorabilia-for-auction-624336">Elon Musk puts up Twitter memorabilia for auction</a></p>

<h2><strong>New home in Monterey: 'Lost and found collection'</strong></h2>

<p>The historic wreck became part of the "Lost and Found Collection," a group of 19 cars that recently found new homes during Monterey Car Week. A collector based in Monterey, California, made the winning bid, with intentions to restore the fire-damaged Ferrari to its former racing glory. The decision aligns with the growing interest in the restoration of classic race cars.</p>

<p>In another significant auction event, Sotheby’s in New York is gearing up to auction a 1962 250 Ferrari GTO estimated to be worth $60 million. This particular model, one of only 34 ever produced, is highly coveted by classic car aficionados. What makes it even more special is its history as a former member of Ferrari’s own racing team, Scuderia Ferrari.</p>

<p><strong>Also watch |&nbsp;Fan creates exact copy of Steve Jobs' beat-up sandals auctioned for over $218,000</strong></p>

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<h2><strong>Historical significance drives value</strong></h2>

<p>The GTO’s historical significance amplifies its desirability among collectors, according to Gord Duff, head of global auctions for RM Sotheby’s.</p>

<p>Interestingly, this 1962 Ferrari GTO was originally sold for a mere $6,000 in 1964, equivalent to around $59,000 today. In 1985, it changed hands for about $500,000, which translates to approximately $1.4 million in today’s currency. The buyer at that time, a 75-year-old Ohio resident named Jim Jaeger, divulged that his quest for the ultimate Ferrari during the 1980s led him to the GTO, which epitomised his desires.</p>

<p>&nbsp;</p>

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A severely damaged 1954 Ferrari 500 Mondial Spider Series I, marred by fire during a race in the 1960s, has been sold for an astonishing $1.9 million. While pristine models of its kind can command around $60 million, this charred relic managed to secure a significant price tag.

A severely damaged 1954 Ferrari 500 Mondial Spider Series I, marred by fire during a race in the 1960s, has been sold for an astonishing $1.9 million. While pristine models of its kind can command around $60 million, this charred relic managed to secure a significant price tag. This particular Ferrari, one of only 13 featuring the Pininfarina spider framework, met its fiery fate on the racetrack in the 1960s. Left untouched for nearly four decades, it endured another trial when a 2004 hurricane decimated the barn where it had been stored alongside 19 other Ferraris, as reported by the Telegraph. Despite the ravages of time and fire, the battered Ferrari retains its original chassis plate, gearbox, rear axle corners, and a 3.0-litre Tipo 119 Lampredi inline-four engine. Also read | Elon Musk puts up Twitter memorabilia for auction New home in Monterey: 'Lost and found collection' The historic wreck became part of the "Lost and Found Collection," a group of 19 cars that recently found new homes during Monterey Car Week. A collector based in Monterey, California, made the winning bid, with intentions to restore the fire-damaged Ferrari to its former racing glory. The decision aligns with the growing interest in the restoration of classic race cars. In another significant auction event, Sotheby’s in New York is gearing up to auction a 1962 250 Ferrari GTO estimated to be worth $60 million. This particular model, one of only 34 ever produced, is highly coveted by classic car aficionados. What makes it even more special is its history as a former member of Ferrari’s own racing team, Scuderia Ferrari. Also watch | Fan creates exact copy of Steve Jobs' beat-up sandals auctioned for over $218,000 Historical significance drives value The GTO’s historical significance amplifies its desirability among collectors, according to Gord Duff, head of global auctions for RM Sotheby’s. Interestingly, this 1962 Ferrari GTO was originally sold for a mere $6,000 in 1964, equivalent to around $59,000 today. In 1985, it changed hands for about $500,000, which translates to approximately $1.4 million in today’s currency. The buyer at that time, a 75-year-old Ohio resident named Jim Jaeger, divulged that his quest for the ultimate Ferrari during the 1980s led him to the GTO, which epitomised his desires. WATCH WION LIVE HERE:

Fire-damaged 1960s Ferrari fetches $1.5 million in auction

<p>Sites which narrated tales of Hawaii's royal past, the largest banyan tree and the 200-year-old church are some of the landmarks which have been reduced to ashes by the disastrous wildfires in Maui.<br />
<br />
The tree was a symbol of the culture of the island and the buildings emphasised the importance of Hawaiian history. The whole town recently celebrated the 150th birthday of the banyan tree with cake. The tree continues to stand but is charred by the fire which burned the whole area.<br />
<br />
“It certainly doesn’t look like that tree is going to recover,” said James B Friday, an extension forester with the University of Hawaii, while speaking to the New York Times after reviewing videos and photos of the damage. The thin bark of the tree would have failed to provide adequate protection from the flames, he stated.</p>

<p><strong>ALSO READ | </strong><a href="https://www.wionews.com/world/explained-whats-happening-in-maui-how-has-the-situation-gotten-so-worse-624358">Explained | What's behind Maui wildfires? How has the situation gotten so worse?</a></p>

<p>For 150 years, community events, including art fairs, have been shaded by the colossal tree. “It’s kind of the centre of town,” said Amy Fuqua, a Maui resident, while speaking to the Associated Press in a 2016 interview.</p>

<p>“Everyone knows where it’s at. It has an important significance to the town and it feels good under there,” she had added.</p>

<h2><strong>Town, history, and heritage engulfed in fire</strong></h2>

<p>Apart from the banyan tree, an 1830s-era Baldwin Home Museum was reduced to ash, confirmed Lahaina Restoration Foundation Executive Director Theo Morrison to CNN. The Waiola Church, where English and Hawaiian prayers echoed for decades, was also engulfed by wildfire flames.<br />
<br />
The area also houses the Wo Hing Temple Museum, a social and religious meeting place for the Chinese immigrant community of the island. That has also suffered destruction, as seen by satellite imagery.<br />
<br />
In 1909, Chinese immigrants who had come to Maui as contract sugar plantation labourers and settled there permanently created the Wo Hing Society, as per the National Park Service. The Lahaina Heritage Museum, which is located on the west of the banyan tree, is also situated amid a field of fire debris which has been captured by satellite images.</p>

<p><strong>WATCH |&nbsp;Hawai wildfires: More than 14,000 people relocated from Maui, death toll rises to 53</strong></p>

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<p>The structure earlier provided an interactive look at Lahaina's history, from the epoch before European contact to the Monarchy era, which included the whaling and missionary period, and from the Plantation era to early tourism, said the website.<br />
<br />
“I can say everything in Lahaina is gone,” said Maui resident Dustin Kaleiopu, while speaking to CNN. “Everyone that I know and love, everyone that I’m related to, that I communicate with, my colleagues, friends, family – we’re all homeless,” he added.<br />
<br />
The governor on Thursday said that the town, “with a few rare exceptions, has been burned down”.</p>

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Sites which narrated tales of Hawaii's royal past, the largest banyan tree and the 200-year-old church are some of the landmarks which have been reduced to ashes by the disastrous wildfires in Maui.

Sites which narrated tales of Hawaii's royal past, the largest banyan tree and the 200-year-old church are some of the landmarks which have been reduced to ashes by the disastrous wildfires in Maui. The tree was a symbol of the culture of the island and the buildings emphasised the importance of Hawaiian history. The whole town recently celebrated the 150th birthday of the banyan tree with cake. The tree continues to stand but is charred by the fire which burned the whole area. “It certainly doesn’t look like that tree is going to recover,” said James B Friday, an extension forester with the University of Hawaii, while speaking to the New York Times after reviewing videos and photos of the damage. The thin bark of the tree would have failed to provide adequate protection from the flames, he stated. ALSO READ | Explained | What's behind Maui wildfires? How has the situation gotten so worse? For 150 years, community events, including art fairs, have been shaded by the colossal tree. “It’s kind of the centre of town,” said Amy Fuqua, a Maui resident, while speaking to the Associated Press in a 2016 interview. “Everyone knows where it’s at. It has an important significance to the town and it feels good under there,” she had added. Town, history, and heritage engulfed in fire Apart from the banyan tree, an 1830s-era Baldwin Home Museum was reduced to ash, confirmed Lahaina Restoration Foundation Executive Director Theo Morrison to CNN. The Waiola Church, where English and Hawaiian prayers echoed for decades, was also engulfed by wildfire flames. The area also houses the Wo Hing Temple Museum, a social and religious meeting place for the Chinese immigrant community of the island. That has also suffered destruction, as seen by satellite imagery. In 1909, Chinese immigrants who had come to Maui as contract sugar plantation labourers and settled there permanently created the Wo Hing Society, as per the National Park Service. The Lahaina Heritage Museum, which is located on the west of the banyan tree, is also situated amid a field of fire debris which has been captured by satellite images. WATCH | Hawai wildfires: More than 14,000 people relocated from Maui, death toll rises to 53 The structure earlier provided an interactive look at Lahaina's history, from the epoch before European contact to the Monarchy era, which included the whaling and missionary period, and from the Plantation era to early tourism, said the website. “I can say everything in Lahaina is gone,” said Maui resident Dustin Kaleiopu, while speaking to CNN. “Everyone that I know and love, everyone that I’m related to, that I communicate with, my colleagues, friends, family – we’re all homeless,” he added. The governor on Thursday said that the town, “with a few rare exceptions, has been burned down”. You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE

Maui wildfires: Largest banyan tree, 200-year-old church among landmarks charred

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