$73,000 for a 2017 GTC4 Lusso? No way.
Take a good look at this 2017 Ferrari GTC4 Lusso. Examine every photo. Looks perfect, right? Pictures can be deceiving. Currently up for auction on Copart, a website that specializes in selling salvaged and even completely wrecked vehicles, this Ferrari GTC4 Lusso has a current bid of $73,000. Estimated retail value came to $345,545. So what happened? The posting claims flood damage.
Unfortunately, no specific details are provided, but we all know that flood damage, especially when it gets into the engine compartment, can be catastrophic. Too much water entering a piece of machinery that's really nothing more than a series of controlled explosions typically results as an insurance write off. That's a real shame for this spotless Ferrari.
But why is someone willing to pay over $70k for it? Likely because its parts are still worth a lot. However, the listing also states that as of right now, the vehicle does start, can be put into gear, and goes forward on its own power. Whether this will last is unknown, hence the owner's insurance company's decision to have it declared totaled following whatever happened. The interior suffered zero damage, evidenced by the gorgeous red leather upholstery and unmarked dashboard and center console. Replacement Ferrari steering wheels are valuable.
The 6.3-liter V12, rated at 681 hp and 514 lb-ft of torque under normal circumstances, also shows no signs of damage but that's probably not the reality. Looks can be deceiving, specifically in this case. If too much water managed to get into the engine, say through the front wheel wells while the Ferrari's driver made a foolish attempt to go through a massive puddle, you can kiss that V12 goodbye.
As of this writing, there are only 7 hours to go until the auction ends. For someone who makes it their business to buy totaled high-end vehicles like this and sell its salvaged parts for profit, this could be a killer deal.