We’ve all heard the age-old advice that buying a car brand spankin’ new isn’t the best investment, but NO ONE would have predicted the price this old husk of a Ferrari would fetch at a recent auction in the US.

At RM Sotheby’s auction in California, a burnt-out 1954 Ferrari Mondial Spider Series just went under the hammer selling for $1.9 million ($AU2.97m), proving beyond a doubt that one person’s trash is another’s treasure.

A 1954 Ferrari 500 Mondial Spider

One of only 13 made, Ferrari won world championships in 1952 and 1953 with cars of this one’s design, which gives it its name “Mondial” or “World.”

It caught fire during a race in the 60s and hasn’t been touched since.

It’s estimated that it would take at least $1 million to bring the car back to its pre-crash appearance and make it driveable again.