Equipment
Chassis, body, various components.
Condition
Reportedly the second one built. Driven in period at the Mille Miglia, Imola, Oulton Park, Monza, Targa Florio and a few West Coast events. Original Lampredi engine replaced by an American V8 at some point, then crashed and sustained fire damage. Became part of Walter Medlin's collection in the late 1970s and still in as-found condition. Bent, burnt, incomplete and ugly, but also a piece of history. Aside from the mangled body and frame, it comes with factory-issued chassis plate as well as rear-axle corners, 5-speed, and a 3.0-liter four-cylinder from a 750 Monza.
Market commentary
<p>“I know it sounds crazy, but this Mondial represents the ultimate blank slate,” says Hagerty Price Guide publisher Dave Kinney. “You’re buying a wadded-up pile of parts, so there can be no surprises. No panic about missing parts, because, frankly, most of them are. What about prior damage after taking the car apart? Not a problem here, it’s all damaged.” As for the restoration, it’s certainly not something an owner can tackle with his buddies on weekends, but it’s still a relatively simple decision. “Take it to Ferrari for a full factory restoration or have any one of perhaps 25 name-brand shops restore it. There can be no corner-cutting, no ‘I got a friend in Des Moines who can get you a deal on chrome.'” As they say, all it takes is money. “Remarkably similar to the price paid at the auction” is Kinney’s guess.</p> <p>What’ll it be worth when it’s done? Well, old race car prices can vary widely depending on history and originality, but 500 Mondials have sold before. One sold here last year for $2.1M, and that was a running and driving race winner. However, another one brought €3,717,500 ($4,162,485) in 2019, and in 2018 two others brought $5,005,000 and $4,455,000, respectively.</p> <p>It will also be eligible for top-level events like the Mille Miglia, and probably any concours up to and including Pebble Beach. That’ll be one hell of a before and after photo.</p>