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A 1962 Ferrari 250 GTE car as appealing as the Aston Martin DB4 and Jaguar E-Type has been discovered in a leaky barn in western Wales.

The 1962 Ferrari 250 GTE, described as a complete “rustbucket”, might find new life as it was sold at auction for over £110 000 or about R2 233 827.20.

The auctioneer, Matthew Parking, was alerted to the car when his friend spotted it in the background of a photo of another car the owner hoped to sell. The car was originally bought by its owner in 1973 for £800, according to MailOnline.

A classic 1962 Ferrari restoration project

Parking inspected the car and realised it was in major disrepair, with the once-beautiful blue bodywork just one of many things wrong with it.

It was in absolutely shocking condition when I saw it. The driver’s door fell off in my hand, the engine was sitting next to it and there was massive rust and green lichen all over the bodywork and holes in the floor.

Auctioneer Matthew Parking

The car was also missing two front seats and its gearbox. The upholstery had deteriorated and the radio and control column wires were exposed, according to MailOnline.

Image: Screenshot via MailOnline and BNPS

However, this didn’t stop auction-goers from showing interest and the car sold for £109 536 or about R2.2 million.

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The original owner bought it when it was already 11 years old and drove it for 10 more. The owner intended to do some of his own restoration on it but the leaky barn had other ideas and it was left there for over 40 years.

Experts say the car will take between £150 000 and £250 000 to restore to some former glory.

Image: Screenshot via MailOnline and BNPS

With the chassis still in a relatively respectable condition, this restoration project might just be able to give this old 1962 Ferrari 250 GTE a new lease on life.

Read more Ferrari stories HERE.

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