A bizarre 1961 Ferrari 250 GTE 2+2 equipped with an LT1 V8 engine has hit the market.
Limited details about the car’s history are known but it is understood to have been originally painted in silver and left the Ferrari factory with a naturally-aspirated V12. Somewhere along the way, this engine was replaced by a 350 cubic-inch LT1 V8 coupled to a Tremec five-speed manual transmission and a custom driveshaft.
The exterior of the car has been re-sprayed in a typical shade of Ferrari red and contrasted by a navy blue center stripe with yellow accents. The front fascia has also been modified to resemble that of a 250 California Spider. A set of taillights from a later 250 model have also been fitted.
The listing adds that the car sports knock-off Borrani wheels with 215/70 Michelin HydroEdge tires.
A look inside the cabin shows black leather adorning the seats, door panels, and center console. The car has also been equipped with a Hurt shifter, a heating and air conditioning system from Vintage Air, and a wood-rimmed Nardi steering wheel. Found in the trunk is a 25-gallon fuel tank.
Original Ferrari 250 GTE models have been selling for between $300,000 and $400,000 over the past year or so and given the extensive modifications made to this example, it will likely sell for much less than that. As such, it’s possible that the winning bidder may walk away with quite the bargain and have more than enough money to return it to its original form, sell it, and perhaps make a nice little profit.