Imagine spending a whopping two million dollars on what appears to be a crumpled heap of metal. It sounds outrageous, doesn’t it? Yet, that’s precisely what happened at RM Sotheby’s Monterey auction when a seemingly scrapyard find, a Ferrari 500 Mondial, fetched a jaw-dropping $1.875 million. But hold on; this isn’t your ordinary piece of wreckage. This Ferrari hides an incredible past and a golden ticket to an illustrious racing event.

A Ferrari with a Purpose

The Ferrari 500 Mondial was more than just a car; it was a tribute to Alberto Ascari’s consecutive FIA Formula One World Drivers’ Championships in 1952 and 1953. Sporting the same two-liter inline-four engine designed by Aurelio Lampredi that powered Ascari’s Formula One victories, this car holds a special place in Ferrari’s history. The chassis, numbered 0406 MD, was the second in the initial series of 13 Mondials, all adorned with Pinin Farina’s spider body.

History of Ferrari Mondial 500 

Chassis 0406 MD found its way into the hands of Milanese sports car dealer Franco Cornacchia, who entrusted it to his privateer team Scuderia Guastalla. Led by driver Franco Cortese, a former Scuderia Ferrari ace, the team made its mark. Cortese, who had previously secured Scuderia Ferrari’s first victory with their own car design in the 1947 Rome Grand Prix, took the Mondial to a remarkable 4th place in class and 14th overall at the 1954 Mille Miglia.

The Ferrari Mondial’s journey to the United States in 1958 marked a new chapter. However, destiny had a crash and fire in the store between 1963 and 1965, leaving the car battered. Its last ownership transfer took place in 1978, and for the next 45 years, it lay preserved in its battle-scarred state.

Restoration

Though restoration might be an extensive undertaking, the potential reward is monumental. Ferrari will now take this seemingly scrap and rebuild it completely, which will then be worth around $15-20 million. The current Mille Miglia event has strict entry criteria, exclusively welcoming cars that participated in the original Italian races between 1927 and 1957. Extensive research confirms that this very Ferrari 500 Mondial is that historic vehicle from 1954.