One moment it is a shiny red and black jewel of carbon fiber, titanium, aluminum and unobtainium, the next a very, very expensive insurance claim.

This is not the first crashed LaFerrari we’ve seen, and in all likelihood it won’t be the last (although it’d be nice if it were), but it’s the latest and it happened in its homeland.

The hypercar was taking part at the 2016 Ferrari Cavalcade rally in Cortina d’Amprezzo when, for unknown reasons, it veered to the left and hit a parked Lancia Ypsilon, climbed a boulder and knocked down a restaurant’s sign. Thankfully, no one was hurt, but it does make for a sad spectacle, especially when the camera does a close up and shows the extent of the damage sustained by the LaFerrari, which is significant.

Being one of 499 examples to ever leave Maranello, the 950 HP hybrid hypercar now sells for close to $5 million – if and when an owner decides to part with it.

Is it a write-off? Probably not, especially with such a high value in the market right now, but that’s for the insurers to decide. If they haven’t had a fit already, that is.

Video