Update 7/6/11 - The car has been relisted here.
In the mid '60 the Italian manufacturing company Intermeccanica was commissioned to build bodies and chassis for Griffith Motor. When Griffith closed their door shortly after Intermeccanica decided to start manufacturing their own cars. The result was a coupe form of this beautifully designed Italia Spyder. Production ran from '67 to '73 and its believed that fewer than 600 were produced. The Italia kept with Griffith's idea of an Italian styled car that was powered by a powerful and reliable American engine. This particular car's Ford Windsor 351 has been completely rebuilt and upgraded. While the claimed 440 hp would be fun it's a shame that such a rare and beautiful car was messed with in this manner. If one could source the original valve covers and the correct transmission this car could easily fetch six figures at auction. Find in on eBay with a Buy it Now price of $74,500.
Much of these cars' designs were borrowed from Ferrari and Lamborghini, including Intermeccanica's "Prancing Bull" logo. The paint on this car looks exceptional. It's too bad it's not still the original paint. It's an older re-spray and the seller claims it's the original color, hopefully it is.
From this angle you might actually mistake this Italia for a Ferrari 365 or a 250 Spyder. The Windshield rake really gives this car a sense of velocity, even when it's stationary.
You can see that the engine bay is clean, but highly modified. Hopefully the original Intermeccanica valve covers are still with the car, as these could be extremely difficult to replace and greatly impact the value of the car. Whether the increased performance is worth the hit in value or the loss of originality.
The Italia's interior is very much Italian, Spartan yet attractive. The interior was also redone at some point, but appears to be fairly original. If the seller is willing to negotiate the price and has all the original parts, this car could be a great buy. We would be sure to inspect the floors and the engine numbers, before talking price though.