The driver tried to pass another rare Ferrari. He failed.
Something like this wasn't supposed to happen but it did. Last Friday at the Goodwood Revival in West Sussex, England, an extremely rare and nearly priceless 1964 Ferrari 250 GTO/64 Series II crashed as it attempted to pass a classic Corvette Stingray and a Ferrari 250 LM. Driven by Andy Newell during the RAC Tourist Trophy qualifying race, Newell made a very serious mistake: he failed to anticipate the 250 LM's braking at mid-corner on a right turn. This forced him to swerve left in order to avoid rear-ending the fellow rare Ferrari.
In doing so, however, he got caught in a snap oversteer-induced spin, and quickly slammed sideways into the wall. It wasn't pretty and nor was the resulting damage, which is significant. Take a look at the right side; it's all scratched and dented. We wouldn't be surprised if there was also some structural damage as well.
What's clear is that the car isn't drivable at this point. Now, Ferrari enthusiasts will likely already know just how rare the 250 GTO/64 Series II really is. Just three examples were made. We're almost certain this one will be fully repaired simply because of its exclusivity, but the work won't be cheap on car that's estimated to be worth anywhere from $25 million to $50 million. So, why would one race it in that case? Because it's still made to be driven, albeit carefully. Mistakes do happen though, and that's simply a risk its owner was willing to take. Hope he's got good insurance.