Photo: Mecum Auctions
Classic Ferrari race cars are now worth millions of dollars. But back in the day, they were considered, like many race cars from the era, disposable. They were often butchered and sold for cheap. This beautifully restored 340 America has a similar story, as it was once fitted with a Chevrolet engine and sold for $200 in 1990.
The blue-painted Ferrari may look like it just left the Maranello factory, but that is the result of a very long and expensive restoration. Just a couple of decades ago, the 1952 340 America, one of only 24 built, was unrecognizable. That's because it was pretty much dismantled once its European racing career came to an end.
Originally designed for track use, the V12 coupe finished fifth at the 1952 24 Hours of Le Mans, boasting a simple blue livery (albeit uncommon for a Ferrari) and no. 14 roundels. At the end of its racing career, the 340 America made its way to the U.S. via famed Ferrari importer Luigi Chinetti. Originally sold to an attorney, the Ferrari ended up in Texas toward the late 1950s, with an owner who opted to replace the 4.1-liter V12 with a Chevy V8.
Yes, that's sacrilege no matter how you look at it today, but it was far from unusual back in the day when race car enthusiasts were more concerned about speed and performance rather than keeping a car true to factory specs. Things got worse for the 340 following an accident that damaged its Vignale-designed body. After this crash, it was fitted with a Devin Spider fiberglass body.
The car fell off the radar sometime in the 1960s and didn't resurface until 1990 when drag race ace Mike Sanfilippo purchased it for just $200. Neither the seller nor the buyer knew that the Devin body rolled on a Ferrari chassis, so Sanfilippo planned to cut up the chassis to create a dragster. Luckily, his plan didn't come to fruition, and the car survived several more years to resurface on eBay in 2006.
Listed as a vintage Devin sports car for $26,912, it was purchased by restoration expect Tom Shaughnessy, who discovered that the bodywork hid a genuine Ferrari chassis. The car was identified with help from Ferrari experts and eventually restored to its former glory.
There's no info on how the restoration team got a hold of the Vignale body and the original 4.1-liter V12 engine, but everything was restored to concours-winning specs. And it's an emotional story that only adds to the car's value.
The amazing-looking Ferrari is ready to change owners once again through Mecum Auctions. But this time around, it will find a new owner for a much higher price. Pricing is not available unless you contact Mecum directly, but 340 America models have been sold in recent years for $2.5 to $8.2 million, depending on racing history and condition.
Needless to say, this one's an authentic multi-million barn find.
Originally designed for track use, the V12 coupe finished fifth at the 1952 24 Hours of Le Mans, boasting a simple blue livery (albeit uncommon for a Ferrari) and no. 14 roundels. At the end of its racing career, the 340 America made its way to the U.S. via famed Ferrari importer Luigi Chinetti. Originally sold to an attorney, the Ferrari ended up in Texas toward the late 1950s, with an owner who opted to replace the 4.1-liter V12 with a Chevy V8.
Yes, that's sacrilege no matter how you look at it today, but it was far from unusual back in the day when race car enthusiasts were more concerned about speed and performance rather than keeping a car true to factory specs. Things got worse for the 340 following an accident that damaged its Vignale-designed body. After this crash, it was fitted with a Devin Spider fiberglass body.
The car fell off the radar sometime in the 1960s and didn't resurface until 1990 when drag race ace Mike Sanfilippo purchased it for just $200. Neither the seller nor the buyer knew that the Devin body rolled on a Ferrari chassis, so Sanfilippo planned to cut up the chassis to create a dragster. Luckily, his plan didn't come to fruition, and the car survived several more years to resurface on eBay in 2006.
Listed as a vintage Devin sports car for $26,912, it was purchased by restoration expect Tom Shaughnessy, who discovered that the bodywork hid a genuine Ferrari chassis. The car was identified with help from Ferrari experts and eventually restored to its former glory.
There's no info on how the restoration team got a hold of the Vignale body and the original 4.1-liter V12 engine, but everything was restored to concours-winning specs. And it's an emotional story that only adds to the car's value.
The amazing-looking Ferrari is ready to change owners once again through Mecum Auctions. But this time around, it will find a new owner for a much higher price. Pricing is not available unless you contact Mecum directly, but 340 America models have been sold in recent years for $2.5 to $8.2 million, depending on racing history and condition.
Needless to say, this one's an authentic multi-million barn find.
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