Tuesday, August 21, 2012

Ferrari Service Bay Area - World's oldest Ferrari is unveiled following restoration... and it's now worth a cool $8million - San Francisco Motor Sports

World's oldest Ferrari is unveiled following restoration... and it's now worth a cool $8million


With its small, low body and thin tyres, this sports car doesn't look anything like the powerful, expensive models of today.
But this stunning vehicle is most likely their inspiration as it is believed to be the world's oldest Ferrari.
The 1947 166 Spyder Corsa has recently been unveiled for the first time since being completely restored.
Historic: It is believed that this is the world's oldest Ferrari, which has been unveiled for the first time since being completely restored
Historic: It is believed that this is the world's oldest Ferrari, which has been unveiled for the first time since being completely restored
Stunning: The 1947 166 Spyder Corsa was built just after the Second World War by manufacturer Enzo Ferrari and has now been restored for £300,000 by one dedicated owner
Stunning: The 1947 166 Spyder Corsa was built just after the Second World War by manufacturer Enzo Ferrari and has now been restored for £300,000 by one dedicated owner
It was built just after the Second World War by manufacturer Enzo Ferrari and has now been restored for $500,000 by one dedicated owner.
This may seem like a lot of money, but owner Jim Glickenhaus, from Pebble Beach, California, believes the car could now fetch up to $8million.
Capable of speeds of up to 100 miles-per-hour, which was enough to win the model the 1947 Turin Grand Prix, this 12-cylinder classic car is a one-of-a-kind.


Mr Glickenhaus, 62,  said: 'I bought the car at auction in 2004 for around $770,000 (£490K).
'As soon as I set eyes on it there was love at first sight. There is no other car like this on the planet.
'To sit in it is like going back in time - and this car is a dream to drive.
Expensive: Owner Jim Glickenhaus, from Pebble Beach, California, believes the car could now fetch up to £5million
Expensive: Owner Jim Glickenhaus, from Pebble Beach, California, believes the car could now fetch up to £5million
Rare: Capable of speeds of up to 100-miles-per-hour, which was enough to win the model the 1947 Turin Grand Prix, this 12-cylinder classic car is a one of its kind
Rare: Capable of speeds of up to 100-miles-per-hour, which was enough to win the model the 1947 Turin Grand Prix, this 12-cylinder classic car is a one of its kind
'Whenever people see this piece of history being driven in the street it brings a smile to their faces.'
The motor - numbered 002 - was the first sold by Enzo Ferrari in December 1947, after his first build crashed.
After changing hands several times, and being converted into a sports car design, there was an attempt by a previous owner to restore the vehicle, before it was garaged for several years.

However, perfectionist Mr Glickenhaus wanted to do everything he could to take the car back to its original form.
In 2006 the owner of a Ferrari marked 001C came forward claiming his vehicle was the world's oldest.
This was actually a number two car built before Mr Glickenhaus' 1947, which could contain a proportion of parts from the first crashed 01C Ferrari. However this vehicle lacked the original engine and used Ford motor parts.
'My Ferrari still has the original chassis, engine, gearbox and most of the mechanical pieces,' said Mr Glickenhaus.
'I took to the original home of Ferrari, Marenello in northern Italy.
'There you will find the mechanics that have preserved the heritage of this machine.
'They had all the photographs, parts and knowledge to deliver an authentic restoration.'
Mr Glickenhaus, from New York, is a partner at Glickenhaus & Co, an investment management company with $343 million of capital last year.
He is a committed charity fund raiser, and using his unique Ferrari in sponsored events he has raised over $50K (£31K) for troubled New York teenagers.
'Each year I raise money for my Possibility Project,' he said.

Proud: Mr Glickenhaus wanted to do everything he could to take the car back to its original form
Proud: Mr Glickenhaus wanted to do everything he could to take the car back to its original form
Unique: Mr Glickenhaus says his Ferrari still has the original chassis, engine, gearbox and most of the mechanical pieces
Unique: Mr Glickenhaus says his Ferrari still has the original chassis, engine, gearbox and most of the mechanical pieces
'We work with teenagers from disadvantaged backgrounds who are in foster care for example.
'They take part in a programme which sees them gaining skills and eventually putting on plays to tell their stories and boost their confidence at the same time.
'The project allows teenagers to have a chance to go to college - and a huge proportion of them do so.
'For me it's great to put the machine to work for the benefit of others.

source: www.dailymail.co.uk
by Anthony bond

http;//www.sfmotorsports.com

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