Although the classic car market seems temporarily stagnant, there is no shortage of buyers for the…
Fast N’ Loud Ferrari F40 heading to auction again
A resurrected 1991 Ferrari F40, featured on Fast N’ Loud in 2013, is getting a new lease on life. Well, another new lease on life.
The F40 was wrecked in 2011 (after logging only 7148 miles) when a Houston mechanic crashed it into a fence while its owner was out of town, destroying the front end and severely damaging the chassis. Richard Rawlings and his business partner, Dennis Collins, bought the car for $400,000, and soon after Rawlings, Aaron Kaufman, and the crew at Gas Monkey Garage in Dallas set about to make it right.
With the assistance of Ferrari restoration expert Stuart Singer and certified Lamborghini and Ferrari tech M. Luongo, the F40 was completely disassembled for a full rebuild/restoration with one goal in mind: to make it better, straighter, lighter, and faster than a stock F40. The team began by straightening and strengthening the frame, then upgraded the twin turbos in its 2.9-liter V-8 to boost horsepower to 550. Additional upgrades included an aluminum flywheel, Kevlar clutch pack, TUBI competition exhaust, HRE three-piece alloy wheels, and adjustable shocks specifically built for the F40 by Penske Racing. Originally red, the Ferrari now wears unique deep-black paint.
The better-than-new sports car headed to Barrett-Jackson’s Scottsdale auction in January 2014, where baseball legend Reggie Jackson bought it for $742,500. A year later it was back at Scottsdale—some suggested it was just too powerful for Jackson’s liking—and Barrett sold it for $643,500 (meaning the 885 additional miles on the clock cost $115.78 per mile).
The next time the black F40 made the news was in November 2017, when its owner, Richard Scott, a parking lot operator for U.S. Department of Veterans Affairs medical facilities in Los Angeles, was arrested for his part in a 15-year bribery scheme that bilked the VA of more than $13 million. Scott pled guilty in May 2018 and is serving a six-year sentence in federal prison. The government seized Scott’s assets, which included the Fast N Loud Ferrari, and is part of Apple Towing Company’s February 5–7 auction in Chino, California.
The car might end up right back at Gas Monkey Garage. According to the custom shop’s website, Rawlings “plans to bid aggressively on the car.” So much for not showing his hand.