'Broken-up' Ferrari sold for £10.8m at Goodwood auction

The Ferrari had been broken up and the pieces scattered across a woodland in the US

A rebuilt 1954 Ferrari has sold for £10.8m in an auction at the Goodwood Festival of Speed.

The vehicle, which was one of dozens of cars sold at the Bonhams auction, had spent much of its life broken up and scattered across a Cincinnati woodland.

The successful bid was £9.6m and the price raised above £10m when the premium was added.

Another collector bought a Formula 1 car driven by Graham Hill for £673,500 at the festival.

Tree sprouting from engine

The Lotus, in the team's gold leaf colours, was first raced by the British driver in 1969 shortly after he won his second world championship.

However, it did not prove particularly lucky for Hill and he failed to finish his first two races driving it at the Tasman Championship Series.

It was later raced that season by team mate Richard Attwood at the Monaco Grand Prix where he finished fourth.

The Lotus was driven to by Graham Hill shortly after he was crowned world champion for the second time

The Ferrari had a less glamorous background having been broken up in a woodland in Cincinnati in the 1960s.

At one point it had a tree growing through the engine bay.

The vehicle was restored over the last 20 years and following various legal arguments about its ownership was entered for auction at Goodwood.

It was bought by a bidder from outside the UK.