Old School: Alabama grad donates million-dollar Ferrari

There is certainly no shortage of extraordinary stories about Ferraris being dug out of somebody's barn after decades of neglect, but few are quite as intriguing as this one. As a student at the University of Alabama in 1966, Darrell Westfaul bought a competition 1950 Ferrari for $1,500 which he drove during his senior year. He planned to restore the car after graduation, but plans changed and the car was relegated to moving from garage to warehouse to garage for forty years.

Now 63 years old, the owner took the car out of storage and donated it to the university where he enjoyed it four decades earlier. The university sold the car for upwards of $1 million under an arrangement that will provide Mr. and Mrs. Westfaul with dividends on which to live for the remainder of their lives, after which the interest from the capital will go towards a scholarship fund.

Sounds extraordinary? That's just the tip of the proverbial iceberg. Well researched and documented by the owner, the 1950 Ferrari 166MM Touring Barchetta turns out to be far more than an "ordinary" Ferrari, imbued as it is with an extensive race history and pedigree. Already one of the earliest Ferrari models, s/n 0046MM, originally owned by famed designer Nuccio Bertone, was made even more special by the fitting of custom bodywork by Zagato in 1953, after having competed four times in the famous Mille Miglia race in 1950, '51, '52 and '53.

The car was sold to a museum in Arizona, whose owner will put in an additional $300,000 to properly restore the car to original condition.

[Source: University of Alabama via Tuscaloosa News and Alabama Press-Register]