Some say a Ferrari will never lose its value and we generally agree with it. But what happens when the Ferrari is all covered in rust? Well, we’re about to find out its auction value as Bonhams has put a 1961 Ferrari 250 GTE that hasn’t been driven since 1975 under the hammer. Imagine all the rust in there! In fact, the car needs a restoration job that wil probably cost £100,000 - about $150,000 at the current exchange rates. Still, Bonhams hopes to sell the car for about £60,000 - about $94,000. A bargain, no?

Once featuring a very cool silver paint, this 250 GTE has a very interesting history: in 1963 it was bought by Eva Michelson and imported from Rome to UK. Four years later she sold it to her doctor, Hector Anderson where it then passed as an inheritance to his daughter. Since then, the car has been sitting idly in a garage in Kent.

Bonhams said: "He only drove it for seven or eight years and it was last roadworthy in 1975. Because of this, it only has 49,000 miles on the clock... Now she has taken the decision to sell the car in the hope a Ferrari enthusiast will be able to appreciate its potential and bring it back to life."

So the question is: are you that Ferrari enthusiast?


Source: DailyMail

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  (331) posted on 08.31.2012

Believe me. This car will still cost hundreds of thousands of dollars when put into auction.

  (466) posted on 03.8.2012

No matter what, I think this should be in a junk shop already. LOL. But of course mad hard Ferrari fans might be interested on including this in his collections.

  (594) posted on 02.28.2012

Being one of the die-hard fans of Ferrari, it’s not that hard to take this rusty car for granted. Even if it cost a million dollar, I’ll buy it to preserve it for future uses.

  (210) posted on 02.27.2012

For me to ask if it worth the price of half a million dollar. It would be a yes. Having this age-old car looks very classical, which antique enthusiast would surely love.

  (399) posted on 02.27.2012

Only an overenthusiastic collector would buy this one. Even though it’s a bargain, I can’t say it’s really worth it. You can buy a newer and more efficient car at the same price.

  (453) posted on 02.24.2012

You mean to say that I am going to spend almost a hundred thousand dollar for this rusty old so called Ferrari car?, and I am going to spend over a hundred thousand for its restoration. No Way, you can please me. I rather buy a new one maybe a Veyron will do.

  (447) posted on 02.23.2012

Whew! Who would buy something like this? Isn’t it just a historical piece of car? Anyway it’s rusty and it was not the Ferrari I used t know. Maybe an Antique collector will be able to purchase it.

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