At first glance, it appears to be nothing more than a dilapidated heap of rusted metal. But this isn't just any piece of scrap; it's a rare Ferrari relic that has fetched an astonishing price of $1.7 million.
Seeming more like a candidate for a junkyard than a prized auction piece, this deteriorated 1954 Ferrari 500 Mondial Spider recently stole the limelight at an auction, being snapped up for a staggering $1.7 million.
What makes this rusted marvel so special? This Ferrari isn't just any vintage vehicle; it is the second out of only 13 units whose bodies were meticulously crafted by the legendary Italian designer, Pininfarina. Such pedigree makes it one of the most coveted models from Ferrari's golden age.
RM Sotheby's, the auction house responsible for presenting this gem, shared its glorious past. This Ferrari wasn't just a showpiece; it bore the legacy of being raced by Ferrari's team maestro, Franco Cortese. Its tracks? Prestigious races such as the Mille Miglia, Targa Florio, and the Imola Grand Prix.
Originally powered by a modest 2.0-litre four-cylinder engine, this Ferrari now boasts a 3.0-litre 'Tipo 119 Lampredi' engine and a matching-numbers transmission. There's a twist in its tale, however. In the late 1950s, when it was brought to the US, it received an American V8 - a trend that was quite the rage. But its racing spirit met a tragic halt with a devastating crash, and it has remained a silent spectator of time ever since.
This relic's anticipated value oscillated between $1.2 million to $1.6 million. But as the gavel struck, the winning bid shattered expectations at $1.7 million. After adding the auctioneer's premium, the final amount rested at a cool $1.87 million.
For perspective, a fully restored version of this very model was auctioned for $US4.15 million back in 2019. As for this recent purchase, it remains shrouded in mystery whether the new custodian plans to breathe life back into this aged beauty or preserve its crash-marked legacy.
