Cars for Stars News

Despite being smashed into a hedge by an FBI agent causing thousands upon thousands of pounds worth of damage, a red Ferrari F50 sports car has been sold for a staggering $370,000 after being put up for sale on an online auction website.

The Ferrari in question hit the headlines several years ago when the FBI agent who was taking care of the powerful sports car after the new owner of the vehicle reported his car to the authorities after discovering it was stolen, crashed the Ferrari while it was in his care.

The story began after the Ferrari was stolen during a test drive. The man, who was later identified as pilot and a known criminal, Tom Baker, requested the test drive, making off in the rare sports car when the car salesman got out of the vehicle momentarily during the test run.

After being stolen in 2003, the Ferrari seemingly disappeared off the face of the earth for five years. The insurance companies assumed that the sports car had been shipped out of the States, and so paid up to the car salesman.

However the Ferrari had been stored by the thief and was sold to a doctor from Kentucky in 2008. When the new owner went to register himself as the new owner, he discovered it was a stolen vehicle and alerted the police, which was when the accident occurred.

The authorities succeeded in tracking down the thief who was jailed for two years. The debate over the car and the damage caused by the FBI agent has wrangled on for several years, however the Ferrari has now been sold without being repaired, by an auction site acting on behalf of the insurance company.

The new owner has shelled out $370,000 and will have to spend several hundred thousand more to restore the rare sports car back to its former glory.