Burnt-out Ferrari driven by their 'first racing driver' sells for $2MILLION

Ferrari

Burnt-out Ferrari driven by their 'first racing driver' sells for $2MILLION

The fire-marked shell of the 500 Mondial Spider Series I crashed in the 1960s

Michael Clarke

Wednesday 23 August 2023 06:57

A burnt-out 1954 Ferrari has been sold for a staggering $2millon after being put up for auction.

The fire-damaged shell of a 500 Mondial Spider Series I, one of only 13 ever made, has sat untouched for decades after being involved in a crash during a race in the 1960s.

The car had been driven by Ferrari’s first racing driver, Franco Cortese, who drove it to a 14th overall finish at the Mille Miglia, a 1,000-mile (1,600km) race through Italy in 1954.

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Cortese would go on to finish the grueling race 14 times, a record that technically still stands today as the race has not been held since 1957.

Sotheby's, who auctioned the car, said the vehicle will require "a comprehensive restoration to return the car to the condition of its glory days."

Burnt-out shell of 1954 Ferrari 500 Mondial Spider Series I (Picture via Sotheby's)

Restoration project

In the late 1950s, the car was exported to the US and continued to be raced.

At some point over several years of racing in the US the car was crashed and suffered major fire damage.

In 1978, it was bought by a US collector who preserved it in its damaged condition.

The design of the body of the Mondial was created by the designer Pinin Farina.

After being rediscovered in 2004 in Florida after a hurricane blew the roof off a barn where it was being kept, it was put up for auction and experts believe there is a possibility that the car could race again if restored properly.