Ferrari 365 GT 2+2 by Pininfarina

‘Lost and found’ Ferraris up for sale in Monterey

‘Lost and found’ Ferraris up for sale in Monterey

by | Jun 19, 2023 | Latest News

250GT, 500 Mondial Spider, 275 GTB, 512 BB Competizione… classic Ferraris worth an absolute fortune and normally seen primped to perfection on the world’s most exclusive concours lawns and racetracks. So what on Earth what happed to this lot, surely the most knackered stable of Prancing Horses you have ever seen?

Calling this collection of 20 Ferraris a “barn find” has to be the understatement of the year. Some of them look as though they belong on a scrapheap or in a breakers’ yard. But looks can be deceptive and even in this condition they are still expected to sell like hot cakes. And for millions of pounds.

There are 20 Ferraris in what RM Sotheby’s is calling the Lost & Found Collection. All will be sold – some changing hands for the first time in five decades – at the auction house’s sale during Monterey Car Week in the US in August. They are being sold as seen, and at no reserve price.

All the cars need restoring, some complete rebuilding. Damage varies. The most smashed-up bear scars of a roof collapse when the building in Florida they were being stored in was hit by a hurricane in 2004. They were moved to a secret warehouse where they have languished, unseen, ever since.

While some might look like basket cases, they are anything but because they are mostly complete and often with matching numbers for engines, transmissions and bodies that prove they are essentially the same machines that left the factory when new. Some of them are real rarities and others boast exceptional racing histories and ownership provenance. One was even owned by a king.

Because of all this, their value remains out of all proportion to their appearance. They will shine again, but you sure as heck wouldn’t want to pay the restoration bill…

1954 Ferrari 500 Mondial Spider

Well, where would you start restoring this? At the very beginning, that’s where. Not just a weekend job then.  But as RM says, restoring what to our eyes appears to be a wrecked shell of a car “could be a rewarding experience”. It will probably cost a million quid to buy – yes, even looking like this – and will cost another million to fix up, but then it’s a 500 Mondial – in fact the second Mondial ever built, and one of 13 first-series Pinin Farina Spiders. Further, it has a distinguished  racing history in the Mille Miglia, Targa Florio and Imola Grand Prix with drivers who included Ferrari works ace Franco Cortese. The Mondial has been left as-is for more than 45 years after being damaged in a race, but one day it will look glorious again…and be worth many millions.

1956 Ferrari 250 GT Speciale

Look past the rust, the tired paint, missing glass, falling apart interior and filthy engine bay and see instead what this car is: one of four unique 250 GTs bodied by Pinin Farina during 1956, and as originally owned by King Mohammed V of Morocco. So this Speclale is special indeed, made more so by its correct numbers-matching V12 engine. Why does it look the way it does? Almost 50 years of complete neglect, is why. It’s reported it could sell for as much as £1.8m

1969 Ferrari 365 GT 2+2

Ouch! The sleek Pininfarina looks definitely came off second best when the barn roof collapsed on top of this 365 GT. Ferrari’s ultimate grand tourer of its day, this is the first time the car has been seen since 1979.

1965 Ferrari 275 GTB/6C

It looks a little different today than it did in 1965 when this very car was Ferrari’s star exhibit at the Turin Motor Show. As the first 275 long-nose with an alloy body and six carburettors, it’s an important car in the 275 GTB story, as well as for a competition history that includes the 1965 Targa Florio. It’s been hidden away for 44 years.

1966 Ferrari 330 GT 2+2

Definitely on the shabby side, but at least this Prancing Horse is in one piece. With its matching numbers Colombo V12 engine and five-speed ‘box, it’s one of the desirable dual headlight models and rare too, one of just 36 right-hand drive Series II models made. It was originally supplied in the UK by Maranello Concessionaires of Egham to an owner in East Africa and believed subsequently to have been owned in the UK by the racing driver David Piper.

1968 Ferrari Dino 206 GT

This Dino is still among the prettiest cars ever, even in this distressed state. The paintwork, engine bay and interior have all gone to pot but it’s largely undamaged and one of the less daunting resto projects. And it would be worth it, for this is one of 153 Dino 206 GTs with an all-alloy body and is thus far rarer (and much lighter) than your common or garden steel-bodied Dino.

1978 Ferrari 512 BB Competizione

This racing BB, veteran of the 24 Hours of Le Mans in 1978, looks in pretty good shape at first sight, almost as though it hasn’t been touched since retiring (with gearbox trouble) in the 19th hour when running in 11th place. Which is pretty much exactly what happened. The BB had been entered as  car number 87 for the North American Racing Team (NART), as its untouched 1978 livery shows. Its restoration will be sure to keep its racing authenticity, but work will be needed under the bonnet and in the cabin. Despite that, this authentic slice of flat-12 racing Ferrari could sell for £2m.