An incredible vintage Ferrari has been put up for sale at a staggering price – but there’s a catch.
The rare Ferrari 500 Mondial Spider goes on the market next month at RM Sotheby’s Monterey Auction.
The classic 500 Mondial grew out of Alberto Ascari’s world championship victories in 1952 and 1953.
After Ascari’s successes, Ferrari decided to fit the powerful 2.0 liter four-cylinder engine in sports cars and the 500 Mondial was born.
Now the exquisite Italian four-cylinder racer is expected to fetch between £950,000 and £1.25 million ($1.2-1.6 million) at auction.
But every potential buyer will be careful, because the purchase will bring a surprise.
The iconic engine is currently in a sorry state, having crashed and burned 59 years ago, leaving only a charred shell.
It doesn’t even have wheels or interior and all that’s left is the crumbled metal and a spare engine.
In its heyday, the model managed to accelerate from 0 to 100 km/h in just 5.9 seconds and reached a blistering top speed of 146 km/h.
This particular classic engine was only the second to be built and ended up being one of 13 Spiders put together by Pinin Farina.
Completed in March 1954, it was originally painted Rosso Corsa and had an elegant beige interior.
The 0406 has endured some rough times since then, but in its early years it was driven across Italy by former Ferrari works driver Franco Cortese.
After finishing fourth in class at the Mille Miglia in 1954, the classic car was redesigned by Scaglietti.
When the car appeared at the Imola Grand Prix in June 1955, it was already painted white and sported a racing stripe on the bonnet.
But that was nothing compared to what the car became when it crossed the pond to the United States.
After racing in the US for a number of years and going through various owners, the car was sold to Stanley Surridge.
He immediately ripped out the Yoo-ro-pean four-cylinder and installed an all-American V8.
RM Sotheby’s says the Mondial crashed sometime in the following two years and burned up in the state you see it now.
The auction lot appears to include a rear axle and gearbox with chassis numbers to match, but this Ferrari engine is a larger 3.0-litre Lampredi four-cylinder from a 750 Monza.
The RM Sotheby’s auction listing states: “There is no denying that 0406 MD requires a major restoration to bring the car back to the condition of its glory days.
“But for the future steward with the right vision and resources, the journey to renewal promises to be a very rewarding process.”
This comes after an impressive collection of vintage cars from the last century were found abandoned in a barn.
Meanwhile, a pristine 1970 Ford Escort has fetched a staggering sum at auction – and it has a surprising royal connection.
The ‘seditious’ classic is a throwback to the golden era of rallying and has been carefully restored to keep it in tip-top shape.
And a stunning 1960s MG Roadster hit the market for just £10,000 but hides an amazing bonus feature.