This burnt-out shell of a Ferrari just sold for a stunning 7-figures

This piece of crumpled metal was once an ultra-rare 1954 Ferrari 500 Mondial Spider, and someone just dropped millions on it during Monterey Car Week.

by | Published on 19th Aug 2023

Someone just dropped seven-figures on this burnt-out shell of a Ferrari during Monterey Car Week. 

This piece of crumpled metal was once an ultra-rare 1954 Ferrari 500 Mondial Spider, but you wouldn’t know that looking at it now.

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The Mondial Spider was just one of 13 in existence when a hurricane tore through the Florida barn it called home back in 2004. 

It was one of 20 exotic cars, including other rare Ferraris, that was destroyed in the storm. 

Despite no longer being drivable, it’s still proved incredibly desirable for collectors. 

In fact, someone just bought the chassis for an eye-watering dollar amount at Monterey Car Week. 

Via an RM Sotheby’s auction, this decrepit 1954 Ferrari 500 Mondial Spider just sold for $1.875 million. 

With that same amount, you could buy yourself four brand new SF90 Stradales. 

While that might seem like an inconceivable amount of money to spend on something you can’t even drive anymore, this chassis has a rich history.

It was the second Mondial built and one of just 13 first-series examples originally bodied as Pinin Farina spiders. 

It was also raced by Ferrari team driver Cortese, who was famous for piloting the first Ferrari built to the marque’s first-ever victory. 

In fact, this car was raced well into the 1960s, even after it was shipped from Italy to America. 

But after its racing days, this Mondial experienced a few tough years. 

The car was crashed and suffered fire damage before it was sold to Ed Niles, a Ferrari buyer and seller who eventually resold the car without an engine. 

Ultimately, it came to rest in that barn in Florida. 

And we know how that turned out.

When RM Sotheby’s put it up for auction, it estimated it would go for between $1.2 and $1.6 million. 

But of course, it exceeded those expectations. 

We have no idea what the new owner plans for this once-beautiful Ferrari, but restoring it would be a pretty big feat. 



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Kate Bain is the Page Editor at She is based in Dubai and coordinates coverage of the latest news across automotive, technology, and lifestyle. Kate has a bachelor's degree in business and post graduate in journalism. She is an experienced editor and journalist who has worked for News Corp, Daily Mail Australia, and Sky News. When she's not at work, you'll find her attached at the hip to her dog, Thor.

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