27 Oct 2024

Sold for $1.875 Million!

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A wrecked and long-forgotten 1954 Ferrari 500 Mondial Spider made headlines when it was auctioned for nearly $2 million at RM Sotheby’s Monterey Car Week. This Ferrari, chassis number 0406MD, was one of only 13 Pinin Farina-bodied Spiders ever built, adding significant rarity and historical value to the lot despite its battered state. Originally designed for privateer racing, the car boasted Ferrari’s then-new 2.0-liter, four-cylinder engine and had been driven by renowned drivers like Franco Cortese. Over time, the car suffered multiple crashes on the racetrack, leaving it in a damaged condition that sidelined it for decades.

In 1978, the Mondial Spider was acquired by U.S. collector Walter Medlin, who stored it in its wrecked state for 45 years. Its rediscovery and subsequent auction shocked the classic car world, as its crumpled frame and charred body didn’t diminish its appeal to collectors. The Mondial Spider’s provenance—being one of the early cars built for Ferrari’s racing program—and its extreme rarity made it a prime candidate for restoration. Auction experts noted the car’s potential to be restored to its former glory, estimating that while the restoration process could cost millions, the car’s value upon completion could far exceed that.

Jalopnik notes:

The restoration would be extensive, but the reward might be worth it. The current iteration of the Mille Miglia has stringent entry requirements. The Italian historic event only allows vehicles confirmed to have participated during the race’s competitive open-road heyday. Yes, the actual cars that were raced in Italy between 1927 and 1957. This research work has already been done to confirm that this Ferrari 500 Mondial is the same vehicle from 1954.

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2 Feedbacks on "Sold for $1.875 Million!"

Fusil Darne

“This is George Washington’s axe, the one he used to cut down his father’s cherry tree. The handle has been replaced three times, and the head twice, but, it is the same axe”.



Hairless Joe

The buyer could save a lot of money by simply placing it in front of his house and planting a tree where the driver’s seat used to be.



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