2023-08-08 13:51:00
Remains of a Ferrari Rusty car wreck is for sale for over a million dollars
The rusting remains of a Ferrari 500 Mondial are believed to be worth more than $1 million
© 2023 Courtesy of RM Sotheby’s
A rusted and damaged ‘wreck’ of an old racing car is for sale. The remains of a rare Ferrari 500 Mondial are set to fetch more than $1 million soon. It is said to be “an extremely coveted collector’s item”.
It is not so easy to tell that the car on offer is a valuable racing car: the chassis is rusted, damaged and most of the components are missing. Nevertheless, the Canadian auction house RM Sotheby’s estimates the price of the “Wrecks” at 1.2 to 1.6 million US dollars.
The remains of the old vehicle are namely a Ferrari 500 Mondial Spider by the Italian design company Pinin Farina. According to RM Sotheby’s it is the second Mondial model built. A total of only 13 copies of the first series are said to have been manufactured. This makes it “an extremely coveted collector’s item”.
Ferrari 500 Mondial crashed after taking part in different races
At its best, the 500 Mondial was a sought-after player in racing with prominent drivers at the wheel. According to research and copies of factory blueprints, the racing car built in March 1954 in Rosso-Corsa paintwork and Similpelle-Beige vinyl interior was sold to a sports car dealer in Milan. The car was then driven by former Scuderia Ferrari team driver Franco Cortese. He was an important driver for Ferrari in the early days and, according to the sales information, is listed as the vehicle owner in the factory building plans.
A well-preserved Ferrari Mondial 500 on a racetrack (stock image)
© McPHOTO/Marass / Imago Images
In addition, the 500 Mondial drove in the Mille Miglia race, for example, before it was subsequently modified by the design company Scaglietti. When participating in the Imola Grand Prix, the sports car was painted in white and had three-color stripes on the hood. In 1958, the vehicle was exported to the United States, where it competed in Evergreen Trophy races at Pacific Raceways. Eventually, the original engine was swapped out for an American V8 before that Car crashed and suffered fire damage. The 500 Mondial changed hands several times and was later resold without an engine. Eventually the roadster was kept in its damaged condition.
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Sale includes several vehicle parts
Now the rusty remains of the Ferrari with chassis number 0406 MD are for sale. Although the original engine is missing, a larger 3.0-litre in-line four engine is sold as well as other components such as rear axle parts and a matching-numbers gearbox. RM Sotheby’s is aware that it needs a “major restoration”. In addition to the expected seven-figure purchase price, the buyer will still have to invest a large sum of money in order to turn the “wreck” back into a functional and handsome Ferrari. Whether the remnant of the 500 Mondial will actually sell for more than a million US dollars, as well-preserved cars of this type do, will be shown at the August 17 auction in Monterey, California.
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