ALBAWABA In a remarkable tale of automotive history and determination, a severely damaged 1954 Ferrari 500 Mondial Spider Series I, which had caught fire during a race in the 1960s, has recently been sold at the RM Sotheby's Monterey auction for an astonishing $1.8 million.
Despite its charred and dilapidated appearance, this iconic piece of automotive history managed to capture the hearts of collectors and enthusiasts alike.
Originally conceived by Ferrari to commemorate the consecutive FIA Formula One World Drivers' Championships secured by Italian racing driver Alberto Ascari in 1952 and 1953, the 500 Mondial carries significant historical significance.
The "500" in its name refers to the displacement of a single cylinder, a mere 500cc, showcasing Ferrari's prowess in engineering and performance.
Having initially raced on the tracks of Italy throughout the 1950s, the car eventually made its way to the United States in 1958. Its chassis number, 0406 MD, is closely associated with its original body crafted by the renowned Italian design firm Pinin Farina.
The vehicle's storied past includes ownership by Franco Cortese, a former Ferrari factory driver, who purchased it with the intent of racing—a goal he achieved by becoming the first driver to steer a Ferrari to victory.
The vehicle's dramatic turning point occurred during a race in the 1960s, when it caught fire. Despite this setback, the car survived and changed hands a few times until its final recorded transfer of ownership in 1978.
Remarkably, the vehicle's unique attributes—such as its original chassis plate, gearbox, rear axle corners, and the 3.0-liter Tipo 119 Lampredi inline-four engine—were preserved even amidst the fire damage.
For 45 years, the Ferrari languished in its race-damaged state, a testament to its resilience and historical importance. While its wheels and internals were lost to the flames, the core elements that define the car's identity remained intact.
Now, a new chapter in its history begins as the fortunate buyer aims to meticulously restore it to its former glory. The goal is to breathe life back into this charred relic, enabling it to once again roar onto the racetrack and evoke the memories of its storied past.
While the $1.8 million sale price is a testament to the enduring fascination with Ferrari's legacy, it's worth noting that the most expensive Ferrari ever sold at auction remains the 1962 Ferrari 250 GTO, which achieved a staggering $48.4 million at the very same RM Sotheby's auction house in 2018.
