How should we value a rare but derelict car? It’s an enduring question, and the answer lies not just with the market but also with the buyer. As we consider this very rare 1955 Lancia Aurelia Spider America, listed here on facebook Marketplace, we can speculate as to value, rarity, and the mindset of a potential owner in a sort of psychological thriller meets automotive forensics. To start with, the seller wants $650,000 for the car. That’s an exuberant price, but is it irrational? We’ll make a judgement in a bit…. Meanwhile, this Spider America is garaged in Leesburg, Virginia, where it has sat since 1979, untouched. Of course, it ran when parked. We don’t know it’s current state of tune. The Pininfarina styling was aimed at the US market; a Hollywood ambience was captured in the wraparound windshield, distinctive “horned” bumpers (missing from this example), hood scoop and prominent haunches. Our prolific car-finder T.J. sent us this tip – thanks, T.J.!
The Aurelia was one of Lancia’s most successful series. From a modest beginning with the B10 family car, to the pinnacle of style embodied by this Spider, through to the sixth series B20 GT, Lancia showcased both its design alacrity and its technological prowess. The Aurelia was the first production car with a V6, and the first to come with radial tires from the factory. The Spider America’s 2451 cc 60-degree OHC V6 engine made 118 hp thanks to two Webers. A four-speed transaxle kept front/rear balance near 50/50, and by 1955, the car received a De Dion rear suspension and independent sliding pillar front suspension. The brakes are drums all around, with the rears set inboard.
Only 240 Spider Americas were made, and 181 were left hand drive. The cost of production became prohibitive, so Lancia evolved the car toward a conventional convertible with roll-up windows, a flatter windscreen, and straight bumpers. While lovely, the B24 convertible lacks the swanky charm of the Spider America – a fact that figures into the vast gulf between Spider America prices and B24 convertible prices. This example is missing its seats and top, though it does come with extra parts including four new Borrani wire wheels. The simple instrument panel features prominent Veglia gauges and a glove box. That’s the correct steering wheel – not easy to find. The underside will need plenty of attention – the undercoating and grease is the least of its problems. This car is rusty….
We’re assured that the frame and floors are solid, but holy moly – I mean holey! The buyer will be fabricating substructures and exterior sheet metal, alongside performing a complete rebuild of this complex little car’s mechanicals – not impossible but not skills found in just any old restoration shop. What buyer would pay the asking price – or close – for this car? Historically, these rare cars have sold in excess of $1 million – but that was at the height of the market in 2014/15. Today, Spider Americas pepper the “unsold” ranks of high end auctions, or sell for far less, like this nearly pristine example that found a new home for $885,000 in 2022, thanks to RM Sotheby’s. A full restoration for a car like this will start at $250k, implying even money at best versus the market once you’re done. But restoring such a rare car offers the buyer psychic income – derived from saving a bit of art, making the car his own, understanding how it was rebuilt and having confidence in the quality of the result. Here’s hoping someone takes up the torch for this long-stored Lancia, so we can see it roaming the roads once again.
This could be providential. I’ve been looking for something to learn and practice welding on. A good weekend project!
It would be a good swap candidate to put a LS engine in too, some cool underlighting and some 22inchers on it.
FB Marketplace is the first place I turn to look for 6 figure rare Italian cars!
FB Marketplace is the first place I turn to look for 6 figure rare Italian cars! You get 4 new Borani Wire Wheels and 4 new Michelins after you declare bankruptcy restoring this rust bucket.
Too bad it didn’t leak more in its youth…
Was shiny when wet
The spark plugs sitting out isn’t a good sign.
I thought Aurelias had a top speed of 140mph or more.
With only 118 hp?
Exactly. These are not fast cars but handle well
I suspect the seller understands exactly what he’s got and why he wants to sell, rather than restore! The presence of other Italian cars in the background of a photo or two is all I need to be warned on this one. No thanks!
Michele,
If memory serves me correctly, the Aurelia V6 was a pushrod overhead valve design, not overhead cam.
Chinga is spot on, apparently since its acquisition in 1979, the seller hasn’t been able to justify the cost of restoration. Neither can I.
JGD
I owned one back in 1966, grad school- a Hillclimb car . I blew the engine after three runs and my dad pulled the plug. Long gone but what a friend! Sound is mistakenly Italian, race, high revving and an excellent competitor in the day. The Lancia consistently beat Corvettes and Mustangs; Cobras were faster but did not handle nearly as well.
Not only sorry I sold it but also working full time, third shift at local bakery to stay in grad school. This car looks like it will require expert metal work. If I recall the doors and hood, were aluminum. Un forgetful sports machine. Worth $1MM???? Maybe fully redone to exacting details. asking price? Too high in my opinion. Good luck to seller!
Not OHC. Pushrods.
For 650K, a full picture of the car would no doubt cause hordes of FB Marketplace buyers to forget tha 51 Ford LS swap project and fire up the Harbor freight welder.
Italian rust has gone through the roof!
True that a good 24S is a rare and desirable commodity, though there are many cars I would prefer at that level of spend.
This is a strange offer, though. Full market value for a car needing parts and a few hundred thousand dollars spending on total restoration? In a market which softens by the day…..
You can buy a pretty decent modest house in California for this money. Just think, to spend this money for the opportunity to spend a lot more money all the while hoping that you can someday selling it for $1Million? I guess the target sales demographic is multi-millionaires with a healthy appetite for risk and speculation. Looks crazy from my perspective.
Gee. I can blow my retirement funds, re-mortgage my house and sharpen up my rust-repair skills all at the same time. What a deal.