A scrap of scrap metal that was once a 1954 Ferrari Mondial Spider Series I sold for a staggering $1.9 million at an RM Sotheby’s auction in California. The car, one of only 13 ever made, has more value in its racing history and potential for glory for its new owner than its current state.
The Mondial Spider was not one of Ferrari’s legendary V12 models. Instead, it was a unique design with a four-cylinder engine ideal for winding tracks with lots of curves. This model contributed to Ferrari’s world championships in 1952 and 1953, earning it the name “World” or “World”.
Originally, the car had a body designed by the well-known Italian firm Pinin Farina, which later became Pininfarina. In 1954, it was driven by Franco Cortese, who had previously taken Ferrari’s first race win.
The Mondial, known by its chassis number 0406 MD, had a complex history. Within a year of its construction, it received a new Scaglietti body and was shipped to the US in 1958. Sometime in the late 1950s or early 1960s, the car crashed and burned, although the details are still unclear. Its original engine had also been replaced.
Ferrari collector Walter Medlin bought the car in 1978 and it has remained in storage in its current state for the past 45 years.
While the most expensive Ferrari ever auctioned was a 1962 Ferrari 250 GTO that sold for $48.4 million in 2018, well-preserved Mondial Spiders can fetch just over $2 million . Some have sold for as much as $5 million in recent years.
Brian Rabold, vice president of automotive intelligence at Hagerty, estimates it could cost around $1 million to restore the car to pre-accident condition and make it drivable. However, the new owner may not be looking for financial gain, but rather the reward of restoring a historic car and sharing it with enthusiasts.
The sale price includes the RM auction house commission and the buyer is not disclosed.
This article is sourced from and written by AI.
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