$3 Million Ferrari 275 GTB/4 Wrecked By Pensioner

An ultra-rare and historically significant Ferrari 275 GTB/4 - one of only 330 of the four-cam models ever built - nearly met its end this past week in Italy when its 60-year-old driver crashed on the road between Placenza and Lodi in the car's home country. Fortunately, while the driver emerged unscathed, the same couldn't be said for the car.

The crash, initially reported on the Italian news siteIl Piacenza, occurred early in the morning when the car left the road and collided with a wooden fence. The exact cause is unknown. The bulk of the damage appears to be to the front bumper and right front fender, but the full extent is unknown. What is certain is that repairs won't come cheap.

Then again, no insurance company will write off a car as revered as this, as the 275 GTB served as the successor to the iconic 250 GTO.

Valued at more than $3 million, the car's historical value means it's well worth repairing, as it's worth eight times the value of theFerrari 296 GTB.

Can it be repaired? Almost certainly. We recently reported on the phenomenon of peoplebuying wrecked Ferraris for millions of dollars, and those were all in a far worse state than this. We have no doubt that Ferrari's Classiche department will strip this down and restore it to its former glory, accompanying it with a certificate to prove the work was completed to original factory standards or higher.

While the GTB/4 is rare, it's by no means the rarest or most expensive of the 275 lineage, as there are several 275 variants on the list ofmost expensive Ferraris ever sold.