Rare Ferrari previously 'broken-up' into pieces sells for £10.8 million

Just five of the 1954 Ferrari 375-Plus have ever been made

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A ‘broken-up’ Ferrari has sold for £10.8 million at Bonham's Goodwood Festival of Speed auction.

Just five of the 1954 Ferrari 375-Plus have ever been made, of which this was the first. The vehicle had been broken into pieces and scattered across woodland in Cincinnati in the 1960s, and at one point had a tree growing through the engine bay.

Fitted with a 4.9-litre V12 engine developing 330 brake horsepower, the car was entrusted by the Scuderia Ferrari works racing team to only the most skilled racing drivers.

A spokesman for auction house Bonhams also said it was the third highest price paid for any car sold at auction.

It was bought on Friday with a winning bid of £9.6 million, a price which jumped to over £10 million once the premium was added.

Its sale came following a 20-year restoration period and a legal wrangle over its ownership before it was purchased by a bidder from outside the UK.

A Formula 1 Lotus car driven by British driver Graham Hill also sold for £673,500 at the auction. The former world champion raced in it in 1969 just after winning his second world championship.

It was also raced by team mate Richard Attwood at the Monaco Grand Prix later that season.

Peter Kantor, Bonhams' head of motor cars for mainland Europe, said it was rare for a Ferrari team works car with continuous history and undisputed identity to come up for public auction.

Bonhams' co-chairman, Robert Brooks, said: "We've had a truly diverse range of spectacular motor cars at our sale this year, causing great excitement in the sale room for both spectator and bidder alike, and achieving an outstanding result."