The remains of a Ferrari 500 Mondial sold for 1.7 million

The remains of a Ferrari were to sell for a million dollars at auction. A mysterious buyer has offered many more and it’s not for nothing.

When the hammer fell, the Ferrari was sold for 1.7 million dollars (about 1.52 million francs). At least what’s left of it because the venerable carcass hardly resembles a Ferrari anymore – not even a means of transport.

The remains found a new owner at a spectacular auction in Monterey, California. This sale was followed with great enthusiasm by many collectors. Originally, RM Sotheby’s hoped to make a good million dollars. His expectations were quickly exceeded. But why?

It may not be obvious, but this scrap heap is a precious treasure of automotive history: a Ferrari 500 Mondial Spider, designed in 1954 by the famous Italian design studio Pininfarina.

According to RM Sotheby’s, this is the second model ever built. Only 13 copies of the series have been put into circulation, which largely explains the enormous interest of collectors for this vehicle, whatever its condition.

Apart from its rarity, the 500 Mondial was an icon of motor racing of the 1950s. Drivers as famous as Franco Cortese, a pioneer of Scuderia Ferrari, sat in its tub. Cortese was instrumental in the early days of the Ferrari marque and he is listed on the ‘grey card’ as the owner of the model sold at auction. Such a historical link (collectors speak of “provenance”) increases the fascination around the object, and therefore its heritage and financial value.

Mille Miglia or Imola Grand Prix, the 500 Mondial has proven itself at ease on many famous circuits. And also in many other places. From its conversion to the coachbuilder Scaglietti to its export to the United States, it experienced many turbulences and accidents. She now has a new house, the address of which is kept secret. It is quite possible that the 500 Mondial will initially spend several years in a specialized workshop. Because in addition to a few million francs, its repair will also cost a lot of time.

Maybe then the Ferrari will come back to Monterey or go back to auction. Because restoration is not only ruinous, but also lucrative: it will easily multiply the value of the vehicle.

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