How Burned Out and Rusty Ferrari Became a $129,500 Gem

A Ferrari that has been burnt and rusted is being sold for about $129,500

A 42-year-old Ferrari, burnt and rusted, is on the market for $129,500. It would not be strange to go straight to the junkyard immediately. The vehicle remains bare of its bare bones, and all related parts are missing.

Despite being a Ferrari, this car is not new; it is 42 years old, raising doubts about its performance even after repairs. However, there is another reason for its high price tag. The vehicle is a rare vintage Ferrari, significantly adding to its value.

A design that still looks modern today
A symbolic model of Ferrari

The vehicle is a 1927 Ferrari Dino 246 GT and is being maintained by Gullwing Motor Cars in New York. Even though it burned down, the Dino 246 GT was priced at $129,500 due to its scarcity. Unlike other Ferrari models at the time, it was a small, easy-to-drive vehicle equipped with a 6-cylinder DOHC 2.4-liter midship engine and a maximum output of 195 horsepower.

Curved lines and voluminous designs, which were unfamiliar then, were applied. This is evaluated as a modern design that does not look clunky or awkward even today. For this reason, it remains an iconic model of Ferrari and is widely popular among enthusiasts.

Few remaining models are expected

Production of the Ferrari Dino 246 GT ended in 1974. Until then, only 3,761 units were produced, including 2,487 GT and 1,247 GTS models, so it was not a commonly seen vehicle then. Moreover, since 42 years have passed, only a handful of remaining models seem to be left.

The Dino 246 GT, considered in an almost perfect state of preservation, is priced at over $800,000. The cheapest car sold to date, the Dino 246 GT, costs $48,400, so we can guess its value. The vehicle burned, but the engine was still mounted. Of course, there is rust on the engine head and internal parts.

Possibility of restoration, but a low likelihood of sale

Since the engine is still in condition, purchasing the vehicle and attempting restoration seems possible. Gullwing Motor Cars, which manages the car, expressed confidence in selling it, saying, “This car is clearly in need of restoration, but the good news is that it is the cheapest vehicle you can find.” Although it is said to be a rare old car model, it seems unlikely that the burned car will be sold for $129,500.