Why this junk heap will make over a million

This heap of scrap is not even recognizable anymore. What was that before? A Volkswagen? A Porsche? No, that was once a Ferrari. And that’s why the pile of steel isn’t taken to the recycling farmer, but it brings in a lot of money.

Ferrari Mondial Spider from the early fifties

Here is – or was – a Ferrari 500 Mondial Spider, a four-cylinder racing car from the early 1950s. The name Mondial is a reference to the two world championships won by Alberto Ascari in 1952 and 1953 with the Ferrari 500 Formula 2 car.

Second of thirteen units built

Thirteen Mondial Spiders were built by Pininfarina, of which this is the second. It rolled off the assembly line in March 1954, painted in Rosso Corsa with a beige interior. A month later, Enzo Ferrari sold it to Franco Cornacchia, a sports car dealer and racing team owner.

Four-cylinder replaced by American V8

This car with the chassis number 0406 MD took part in the Mille Miglia, the Targa Florio and on the Italian circuit of Imola, among others. In 1958 it was exported to the USA, where it was fitted with an American V8 in the early 1960s – the horror, the horror.

Crashed badly and caught fire

At some point in his life – probably in the late 1960s – the 500 Mondial crashed and caught fire. It’s been like this ever since. As the original engine is missing, it is being sold with the 2.0 liter four cylinder from another Mondial, chassis number 0440 MD.

Invest heavily in the restoration

The Ferrari will be auctioned at RM Sotheby’s in mid-August. It is not known what the expected return will be. One thing is certain: the new owner must be willing to invest heavily in the restoration. It must be worth it, because other 500 Mondials have also raised millions in recent years.