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Forlorn Ferrari Clapped out 1964 330 GT could fetch £40k at auction

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A dilapidated classic Ferrari that has languished in a garage for greater than 40 years is about to go to auction on the weekend – and it’s being tipped to sell for greater than £70,000.

The rare 1964 Ferrari 330 GT 2+2 Series 1 is one in all only 36 right hand drive models ever built and imported to the UK almost 60 years ago.

Such is its rarity that even in its current clapped-out condition it won’t stop collectors going right into a bidding frenzy for it when the automobile goes to the block in Somerset on Saturday.

Experts suggest that the £60,000 to £70,000 estimate placed on the automobile represents value for money, because fully restored it could possibly be value over 3 times as much.

Forlorn Ferrari: This 1964 330 GT 2+2 is one in all just 36 examples ever produced in right hand drive for the UK market. It has been sat in a Somerset garage for not less than 34 years but might be sold at auction this weekend. And it could possibly be a steal…

This right-hand-drive model is one in all the earliest models produced, with the Maranello automobile maker constructing the 330 GT 2+2 for just five years between 1964 and 1968. 

What makes it much more enticing to potential collectors is that few remain in existence today.

That is because most of them were pulled apart to construct replicas of costlier cars of the generation made by the famous Italian manufacturer.

The one being sold was bought for £1,750 by Peter Marshal picked it up ‘on a whim’ in 1971 because he thought it was a ‘fabulous looker’.

But owing to problems with the brakes he put it within the garage of his Somerset home some years later.

The tax disc still on display within the windscreen shows it running out at the tip of September 1988, so it most definitely hasn’t been on the road for 34 years not less than.  

Experts suggest that the £60,000 to £70,000 estimate placed on the car represents value for money, because fully restored it could be worth over three times as much

Experts suggest that the £60,000 to £70,000 estimate placed on the automobile represents value for money, because fully restored it could possibly be value over 3 times as much

What will make it enticing to potential collectors is that few remain in existence today, which is why a bidding frenzy is expected to break out in the auction room on Saturday

What’s going to make it enticing to potential collectors is that few remain in existence today, which is why a bidding frenzy is predicted to interrupt out within the auction room on Saturday

The dilapidated Ferrari was bought for the vendor, Peter Marshal, for £1,750 in 1971. He said he picked it up 'on a whim' because he thought it was a 'fabulous looker'

The dilapidated Ferrari was bought for the seller, Peter Marshal, for £1,750 in 1971. He said he picked it up ‘on a whim’ because he thought it was a ‘fabulous looker’

After 4 many years in storage, valuers visiting his home unearthed the rare motor in Mr Marshal’s garage and explained its potential market price, even in its current state of disrepair.

Some 51 years after buying the red Ferrari, Mr Marshal was convinced that now could be the proper time to part together with his much-neglected Fezza.

The dust-coated automobile features most of its original components, including the factory-fitted four-litre V12 engine, which – when recent – put out around a claimed 295bhp. 

That was adequate for a reported top speed of 152mph. Not bad for a four-seat coupe within the sixties.

In line with the odometer, the automobile has only clocked lower than 43,000 miles in its lifetime, which works out at a median of just 740 miles annually because it left the Italian factory. Though it definitely looks to have had a harder life than that.

Yet it still could possibly be value so much greater than the auction house’s estimate suggests. 

An issue with the brakes in the eighties saw the Ferrari put into storage in Mr Marshal's garage with the intention of it being repaired and restored for the road. Thought that never happened

A difficulty with the brakes within the eighties saw the Ferrari put into storage in Mr Marshal’s garage with the intention of it being repaired and restored for the road. Thought that never happened

Corroded wheels, deflated tyres and faded chrome complete the battered external look, while inside the steering wheel is taped up, the red leather seats cracked and the wooden dashboard seeing far better days

Corroded wheels, deflated tyres and faded chrome complete the battered external look, while contained in the steering wheel is taped up, the red leather seats cracked and the wood dashboard seeing much better days

Classic automobile insurance specialists, Hagerty, values a ‘fair’ condition example of this automobile at £140,000, making the upper estimate of £70,000 appear like a steal.

If restored to ‘excellent’ condition, it will be value around £182,000, though renovated and brought back to its factory best specification – which Hagerty calls ‘concours’, meaning it would not be misplaced in a museum – the highest end value for these cars is a whopping £231,000. 

Its relative little use and scarcity is why the auction house accountable for selling it expects the automobile to spark a bidding war between Ferrari enthusiasts at its sale on Saturday in Frome, Somerset.

That said, it will cost a good whack to bring it as much as scratch, with the bodywork definitely seeing higher days, with the doors and boot lid appearing to be substitute parts.

Corroded wheels, deflated tyres and faded chrome complete the battered external look, while contained in the steering wheel is taped up, the red leather seats cracked and the wood dashboard seeing much better days. 

According to the odometer, the car has only clocked less than 43,000 miles in its lifetime, which works out at an average of just 740 miles each year since it left the Italian factory. Though it certainly looks to have had a harder life than that

In line with the odometer, the automobile has only clocked lower than 43,000 miles in its lifetime, which works out at a median of just 740 miles annually because it left the Italian factory. Though it definitely looks to have had a harder life than that

Classic car insurance specialists, Hagerty, values a 'fair' condition example of this car at £140,000, making the higher estimate of £70,000 look like a steal

Classic automobile insurance specialists, Hagerty, values a ‘fair’ condition example of this automobile at £140,000, making the upper estimate of £70,000 appear like a steal

If restored to 'excellent' condition, the sixties four-seat coupe could be worth around £182,000. And renovated and brought back to its factory best specification, the top end value for these cars is a whopping £231,000

If restored to ‘excellent’ condition, the sixties four-seat coupe could possibly be value around £182,000. And renovated and brought back to its factory best specification, the highest end value for these cars is a whopping £231,000

The dust-coated car features most of its original components, including the factory-fitted four-litre V12 engine, which - when new - put out around a claimed 295bhp. That was good enough for a reported top speed of 152mph

The dust-coated automobile features most of its original components, including the factory-fitted four-litre V12 engine, which – when recent – put out around a claimed 295bhp. That was adequate for a reported top speed of 152mph

The tax disc still on display in the windscreen shows it running out at the end of September 1988, so it most definitely hasn't been on the road for 34 years at least.

The tax disc still on display within the windscreen shows it running out at the tip of September 1988, so it most definitely hasn’t been on the road for 34 years not less than.

Nick Wells, specialist at Dore and Rees, says the sale offers a ‘rare opportunity’ for collectors to revive a classic Ferrari. 

He said: ‘Only around 40 right hand drive GT Series 1s were imported to the UK to start with – these were expensive cars which not many individuals could afford.

‘Within the Nineteen Eighties and ’90s quite a lot of them were broken as much as make replicas of costlier cars.

‘Because of this only a few have survived. This one could easily have been scrapped or re-bodied into something else.

‘The possibilities of shopping for an unrestored Ferrari from this era are very rare. That is a possibility to purchase one on the open market – an event which may be very seldom.

‘It’s the primary time this automobile has been seen publicly because it went into storage. It was shoved into the garage and never made its way back out.

‘To arrange for the sale, an engineer was brought in to wake the slumbering V12 engine. After careful preparation, and a few work to the carburettors and fuelling, the engine was turned over and immediately burst into life.’

The auction takes place from 2pm on Saturday 8 October. 

CARS & MOTORING: ON TEST

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