This 1954 Ferrari 500 Mondial Spider Series I by Pinin Farina (0406 MD) is one of just 13 examples ever made. It’s also the second made of the group and saw period racing success. That’s why it’s probably worth somewhere around $2 million despite the fact that it’s a literal shell of what it once was. That’s right, your house might not be worth as much as this toasted Ferrari.
Rarity and provenance make up the general value here because condition sure ain’t it. We’ve already talked about how few of these cars Ferrari made but this one also carries a boatload of history with it. Records from the time suggest that it might have been purchased specifically so that former Ferrari factory driver Franco Cortese could go racing in it.
He’s important because he’s the guy who won the 1947 Rome Grand Prix in a Ferrari 125 S. It was the brand’s first car and its first win. That same man drove this burned-out Ferrari to a fourth-place finish in class at the Mille Miglia in 1954. He then picked up an 8th-place finish at the Imola Grand Prix in this very car.
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Beyond his pilot-ship, this same Ferrari saw time at the Targa Florio before the crash that destroyed it in the mid-1960s. Its original engine is gone but another period correct Mondial engine, transmission, and rear axle corners come with it from 0440 MD.
All of these reasons are why this thoroughly destroyed Ferrari could go for seven figures. While we can’t find any record of the auction house giving guidance for this car, AFR.com says that it’s likely to go for $2 million plus.
In terms of valuation, RM Sotheby’s sold another 1954 Ferrari Mondial Spider by Pinin Farina, this one in nearly perfect condition, for €3,717,500 or $4,054,677. Of course, it did that in May of 2019 which means that it happened before the huge boost in the classic car market and before a gigantic wave of inflation. Will this one actually go over the auction block for $2 million plus? We’ll find out on August 19.
