A rusting 67-year-old Ferrari is expected to fetch up to $500,000 (R7.94m) at a Gooding Christie’s Amelia Island auction in the US on March 5 and 6.
The 1959 Ferrari 250 GT Coupe has been in storage since 1969 and is in need of major TLC. It is a non-runner, and the engine, body, and interior require a wall-to-wall revamp sure to cost a pretty penny, but the auction price estimate of $300,000 to $500,000 (R4.76m to R9.94m) shows how well classic Ferraris hold their value even when they look like rusting hulks.
The elegant Pinin Farina-styled Ferrari 250 GT Coupe was unveiled at the 1958 Paris Motor Show and replaced the outgoing Ellena- and Boano-bodied models.
The car on sale at the Amelia Island auction is the 158th of only 353 examples built. Powered by a 3.0l V12 engine and three Weber carburettors, it churned out an impressive-for-the-time 164kW of power at 7,000rpm.
It sent the grunt through the rear wheels via a four-speed manual gearbox, with stopping prowess supplied by drum brakes all round.
The Amelia Island auction is one of the most highly anticipated events of the year for automotive enthusiasts, and there will be several other classic Ferraris on offer, headlined by a 1960 250 GT SWB California Spider in pristine condition, with a price estimate of $16m to $18m (R254.36m to R286.17m).
TimesLIVE
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.