By on October 16, 2013

OLYMPUS DIGITAL CAMERA

It’s amazing what having a ton of cash can buy you these days. For example, if you have a tween daughter with big dreams to be on stage singing about her favorite Asian foods, up to $4,000 can buy her a music video featuring a clown in a panda costume, plus the music and lyrics.

That said, why allow your daughter to become the next big viral sensation (for all the wrong reasons), when for the right price, you can buy a wrecked 1995 Ferrari F50?

Yahoo Autos managing editor Justin Hyde brings us this tale of such a broken beast, and this one has a lot going for it. The F50, currently residing in an insurance salvage yard somewhere in Hartford, Conn., sold for nearly $530,000 in 2002, received a heart transplant in the form of a new 4.7-liter V12, was one of 56 copies made for the United States (out of 349 overall), and was the last one screwed together, as well as being one of two to be painted black.

And as with any new exotic car purchase, the then-owner felt the need for speed, as demonstrated in Exhibit A:

YouTube Preview Image

Alas, the party came to a screeching halt (with a tree, at 50 mph) for this Ferrari, meriting a salvage title upon examination; the driver came away with only a headache, which became a migraine the moment he learned just how much money he just lost. However, his loss could be your gain if the price is right, sitting at over $110,000 as of this writing with no sign yet of the bids meeting the (potentially high) seller reserve. And if you’re in the area on the 29th at 10 a.m. (and have brought a trailer), you can also bid in the salvage yard’s live auction, just in time to play Dr. Ferraristein come Halloween.

Of course, for half that amount, you could always bet on Blurple.

Get the latest TTAC e-Newsletter!

31 Comments on “Paging Dr. Ferraristein: Wrecked exotic goes up for salvage auction in Connecticut...”


  • avatar
    thats one fast cat

    Hey, that is just what happens when you drive it instead of storing it in a heated/air conditioned garage and wipe it with soft baby cloths once a week when your uber-rich buddies come by. I mean, what the hell, you guys are always raging about how these shouldn’t be garage queens and they should be driven like god and Enzo intended.

    What track did the accident happen on?

    What, you say some douchebag was driving like an A*hole on a city street and past his limited driving ability? That one of only 349 F50s was destroyed by someone that has WAY more money than sense?

    To quote the great Emily Litella — “Never Mind”

  • avatar
    Halftruth

    What a waste. Is that 61K on the clock? Looks it was driven quite a bit.

    • 0 avatar

      Apparently it’s known as the F50K, because an earlier owner put 50,000 miles on it. If you read through the car’s history and the multiple 5 figure repair and maintenance bills, though, one has to wonder if Ferrari actually builds their cars to be regularly driven.

      People who can afford a Ferrari typically have more than one “weekend” car. If you look through the DuPont Registry or any other place where there are exoticar listings, you see mileages that are stupid low, way less than 10,000 miles on many, perhaps most, listings. I think that Ferrari and Lamborghini build their cars for that kind of use. Anything more leads to big repair bills.

      My guess is that the Ford GT is about the only supercar you can use as a daily driver and not ruin it. There’s at least one Ford GT with 100K miles and it still looks and runs great.

      • 0 avatar
        bumpy ii

        Ferrari sells you the drivetrain for $500,000 or whatever, and throws in a (not-very-well-built kit) car for free.

        “My guess is that the Ford GT is about the only supercar you can use as a daily driver and not ruin it.”

        GT-R, for some definitions of ‘supercar’.

        • 0 avatar
          krhodes1

          Relative to the (relatively low) price of entry, the running costs of a GT-R might actually be higher. Just because it has a Nissan badge does not mean it is cheap to fix, or that it won’t need fixing.

          No matter who built it, a $100K+ sports car is going to cost a fortune to maintain. Every engineering effort goes into making it go faster and handle better, about ZERO thought is put into TCO. If you are lucky you buy one of the models where step one of a routine service isn’t “remove engine”…

          The GT40 has a relatively simple engine, but I bet it still eats tires and brakes and suspension bits. TIRES alone are a huge cost on anything from Porsche territory on up.

      • 0 avatar
        CoreyDL

        Oh come on, NSX!

      • 0 avatar
        rpn453

        Jay Leno approves of daily driving a Countach. I doubt it sees any abuse though.

        “Well it’s as clean as I can get it; I use this car a lot. This car’s got about 70,000 miles on it. I haven’t had many problems with it at all – hardly anything really – because it’s fairly straightforward.”

        “You know you don’t think of a car like a Countach as an everyday car but for about five years when I first got this thing I drove it every day. The real trick to Italian cars . . . is let the fluids warm up before you get on it.”

        youtube.com/watch?v=a2vcT1bq2XA

      • 0 avatar
        Jacob

        You probably wouldn’t be able to even start a Formula 1 car without a team of mechanics. A lot of supercars are quite similar, in the sense that they’re effectively one offs, designed for extreme speed and handling, but not necessarily longevity. Any insignificant part can be purchased only from the manufacturer, unless you get it custom made. Regarding the engine replacement, if the guy tracked the car and reved up the engine to the redline all the time, then it’s expected that it will blow up sooner or later. Give it just a few thousand miles of true hard driving. A three hour race is harder on a car than many 10s of thousands miles.

  • avatar
    mkirk

    Will this motor fit in a Tempo’s engine bay?

  • avatar
    Stumpaster

    Don’t bring it to a mechanic – bring it to a good carbon shop. $60K should make this like new.

  • avatar
    NoGoYo

    I saw what happened when the Fast ‘N Loud guys fixed up a F40…it was incredibly expensive, but also in far worse shape than this F50.

    Looks like you could fix it up for about 50, maybe 60 grand tops unless the frame is wrecked.

    • 0 avatar

      I know that a frame can be pulled back to original dimensions, but I wonder how much that F&L F40 is really worth compared to one that hasn’t had to be repaired.

      • 0 avatar
        krhodes1

        I’m not sure that a rebuilt car as rare as an F40 or F50 is worth all that much less, given how few of them exist at all. Certainly multiple rebuilds has about zero affect on the old stuffs value.

        For an even MORE spectacular rebuild, look at Rowan Atkinson’s McLaren F1. The bill for the repairs post accident was in the $1.5M range, but it is a $3-5M car. I really doubt it is worth much less than before, if anything it has a TON of nice new parts. It’s not like there are thousands of them for sale at any given moment like more pedestrian stuff.

        I am actually a bit surprised that this car is even going through a salvage auction – with an unbent valuation of $6-700K, you would think that the insurance company would cheerfully pay a couple hundred grand to fix it rather than paying out the full amount. But I don’t know how “totaling” a car works when it is worth that sort of money.

    • 0 avatar
      George B

      Gas Monkey Garage outsourced the frame repair to Stuart’s Paint and Body of Dallas. http://www.stuartspnb.com/contact-us/ The F40 was an extreme case, but Stuart’s does a lot of this type of high-end collision repair.

  • avatar
    tjh8402

    O M G. the NOISE. just listen to it…I wonder if its possible (and how much it would cost) to ship the car back to Ferrari and have it restored/rebuilt by them. I have to imagine they would want to try to keep as many of these on the road as possible. Although it may not be worth as much as it’s unwrecked brethren, an F50 rebuilt by Ferrari is still an F50.

    • 0 avatar
      NoGoYo

      I think Ferrari demands that you use real Ferrari parts either made by Ferrari themselves or by a company with Ferrari’s official blessing when fixing up one of their cars, especially lower production cars like this F50.

      • 0 avatar
        tjh8402

        I figured as much. I’m just wondering how beat up a car you could send to the factory for a rebuild, ie at what point it becomes totaled not due to cost but because it can’t be put back together.

        • 0 avatar
          NoGoYo

          I know the Fast ‘N Loud guys had to get a lot of parts shipped right from Italy, so clearly Ferrari won’t even recognize your car as an actual Ferrari unless you fix it the way they want you to.

  • avatar
    CoastieLenn

    Holy mileage! 61k on an F50? I wonder how well this thing takes being driven that much…. before it was wrecked.

    • 0 avatar
      mmahon04

      Gulf south resident chiming in; this was owned by Jim Spiro, who put on the majority of the miles (to my knowledge). Big Ferrari enthusiast in the big easy. Heard he takes great care of his cars, but also makes a point of driving them.

      http://www.ferraris-online.com/pages/cardetail.php?reqcardir=FE-F50-104799

      • 0 avatar
        krhodes1

        I love that “pulled engine and shipped to Italy for inspection” then a year later a new engine for $108K. $108K!?!

        Though if you can afford $500K+ for a used car, you can afford to spend 20% of that maintaining it. I put a $2.5K engine into my $5K Spitfire 10 years or so ago…

        • 0 avatar
          tjh8402

          further evidence that I need to start a TTAA – I saw “Spitfire” and automatically assumed the Supermarine model…first thought was “that must be a typo. he must’ve have been talking millions. I didn’t realize Merlin V-12s cost that much. lucky bastard for having one…”

        • 0 avatar
          brenschluss

          So the engine was replaced for $108k only a year after the $23k rebuild at 53,000 miles.

          I’m not sure I’d be willing to do this even if I could. Maybe they are just made to be wiped off.

  • avatar
    kmoney

    For those who don’t click the link too, possibly the best part of this car is the brand new engine from Ferrari installed in 2009 at ~53,000 miles. For the reserve on the auction, I’m thinking this could be a good deal indeed.

  • avatar
    jeffzekas

    Already at $156,000 and hasn’t met reserve- must be worth fixing!

  • avatar
    Jacob

    The funny thing about the asshats who destroy half million dollar supercars on a public road is that it is much cheaper to rent a real race car seat in a amateur/junior category in something like a Porsche cup challenge and race it hard and legally for less money.

  • avatar
    thelaine

    I wonder what kind of tree he hit? Like to plant one in my yard. Keep those damned Ferraris off my lawn.

    • 0 avatar
      05lgt

      After a close encounter with a drunk’s pickup truck that stopped one rock away from the wall I was sleeping on the other side of I’ve taken to thinking about where a big rock would “look real nice” in my yard and closing off the obvious angles of approach. Then again, I’m strange.


Back to TopLeave a Reply

You must be logged in to post a comment.

Subscribe without commenting

Recent Comments

New Car Research

Get a Free Dealer Quote

Staff

  • Authors

  • Brendan McAleer, Canada
  • Marcelo De Vasconcellos, Brazil
  • Matthias Gasnier, Australia
  • Tycho de Feyter, China
  • W. Christian 'Mental' Ward, Abu Dhabi
  • Mark Stevenson, Canada
  • Faisal Ali Khan, India