Scorched Ferrari Auction: Scorched Ferrari sold for Rs 15 crore in auction: Price for resilience?

A burnt-out, severely damaged Ferrari 500 Mondial Spider Series I has risen from the ashes as it has fetched $1.8 million (approximately Rs 15 crore) at RM Sotheby’s Monterey Car Week.
Once driven by Ferrari’s first Formula One driver Franco Cortese, the car was engulfed in flames during a race in 1960. Ever since, it was left abandoned, untouched in a scrapyard until when it was bought by a collector in 1978. However, decades later, it was rediscovered in a barn after hurricane Charlie flew the shed away in 2004.
Clothed in Pinin Farina Spider coachwork, the car driven by Cortese achieved 4th in class (14th overall) at the 1954 Mille Miglia.

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The car’s unique history and rarity made it a desirable item for collectors, even in its damaged condition. The 500 Mondial was a relatively rare car when it was built, with only 13 units produced. That said, the chassis number 0406 MD stands out as the second car ever built, with a racing history and ownership by one of Italy’s well-known privateers from the postwar era.
While the car isn’t in working condition and was severely impacted by the fire, it, however, still has the gearbox, original chassis plate, rear-axle corners, and its 3.0-litre Tipo 119 Lampredi in-line four mill.
The identity of the buyer of the car has not been revealed. However, it is reported that the buyer is planning to restore the car to its original condition.
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