Burnt Crumpled Ferrari Sells for $1.8 Million

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【Summary】A burnt-out and crumpled Ferrari 500 Mondial was sold for $1.8 million at an auction. Despite its appearance, the car has a unique history and could potentially be used to participate in the prestigious Mille Miglia race. The car was initially sold in 1954 and had a racing career before being involved in a crash and fire in the 1960s. After being preserved for 45 years, it has now been restored and confirmed to be the same vehicle from 1954.

FutureCar Staff Aug 31, 2023 12:15 AM PT

Burnt Crumpled Ferrari Sells for $1.8 Million

When most people find a crumpled heap of metal, they don't expect to spend millions of dollars to bring it back to life. However, at RM Sotheby's Monterey auction, a Ferrari 500 Mondial was sold for $1.875 million, despite its appearance of being pulled from a scrapyard. But this Ferrari has a unique history and could be the key to participating in one of historic racing's most prestigious events, the Mille Miglia.

The 500 Mondial was created by Ferrari to commemorate Alberto Ascari's consecutive FIA Formula One World Drivers' Championships in 1952 and 1953. It was equipped with the same two-liter inline-four engine designed by Aurelio Lampredi, which powered Ascari's Grand Prix-winning cars. The chassis up for auction, numbered 0406 MD, was the second built in the initial series of 13 Mondials. These 13 cars featured a spider body designed by Pinin Farina.

Initially sold to Milanese sports car dealer Franco Cornacchia, the chassis number 0406MD was raced by his privateer team Scuderia Guastalla. The team's lead driver was Franco Cortese, who had previously been a factory ace for Scuderia Ferrari before leaving the team in 1949. Cortese achieved success in the Mondial, finishing 4th in class and 14th overall in the 1954 Mille Miglia, which was a significant victory for Scuderia Ferrari as it marked their first win with a car of their own design.

In 1958, this 500 Mondial was exported to the United States. At some point between 1963 and 1965, the car was involved in a severe crash and caught fire. It remained in its damaged state until 1978 when it was last transferred to a new owner.

Although the restoration of this Ferrari would be extensive, the potential reward could be worth it. The current Mille Miglia event has strict entry requirements, only allowing vehicles that can be confirmed to have participated during the race's competitive open-road era between 1927 and 1957. Extensive research has already been conducted to verify that this Ferrari 500 Mondial is indeed the same vehicle that raced in 1954.