Fire-damaged 1960s Ferrari fetches $1.5 million in auction
Burnt Ferrari
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 $1.9million. 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 reportedby 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-litreTipo 119 Lampredi inline-four engine.
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.
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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.
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