Burnt-out rare classic Ferrari found in barn after bursting into flames during race sells for staggering £1.5million
The damaged shell of a classic Ferrari racing car found in a ruined barn has been flogged for the staggering sum of £1.5million.
It remained untouched for 45 years before a 2004 hurricane destroyed the barn where it was found along with 19 other Ferraris.
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The classic 1954 Ferrari 500 Mondial Spider Series I was the second of 13 cars built with Pinin Farina’s iconic Spider frame.
The surviving bodyshell still has the factory chassis plate and rear axle corners, the gearbox and the large 3.0-liter Tipo 119 Lampredi inline-four engine.
It has now sold for $1,875,000 (£1.5 million) at an RM Sotheby auction during Monterey Car Week in Monterey, California.
The burnt out car was part of the “Lost and Found Collection” where the other cars found in the barn were also put up for sale.
It is understood that the buyer is willing to restore the car so it can be raced again.
The engine was sold by Enzo Ferrari to Franco Cornacchia in 1954 where it began its racing life under driver Franco Cortese in the Coppa della Toscana, finishing second in class.
The car found greater success at the 1954 Mille Miglia, where it finished fourth in class and eighth at the Imola Grand Prix.
It was painted the iconic Ferrari Rosso Corsa Red and had a Similpelle Beige vinyl interior.
The car was shipped to the United States in 1958 and raced there until the early 1960’s before it crashed in an undisclosed race and burst into flames.
Walter Medlin bought it in 1978 and left it in a barn in its damaged condition until Hurricane Charley partially collapsed it and the shell and 19 other Ferraris were recovered.
It was sold on August 17, along with the original color copies of the factory blueprints, for $1,875,000.
A spokesman for RM Sotheby’s said: “It has been offered for the first time in almost 50 years, making it an ideal restoration project.”
“Once properly refurbished, the Spider promises to deliver the thrilling driving experience of Aurelio Lampredi’s in-line four – that tiny powerhouse responsible for so many Scuderia Ferrari victories.”
RM Sotheby’s sold another 1954 Ferrari Mondial Spider owned by Pinin Farina for over $4 million in 2019 as it was in near perfect condition.
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