This could be every vintage car fanatic's dream. The oldest Ferrari in the world has been restored to the fully functional condition and has been unveiled to the world for the first time. The car is believed to have won the 1947 Turin Grand Prix and is valued at a staggering $8 million.

The 166 Spyder Corsa was originally built by Enzo Ferrari, the renowned manufacturer. What makes the car different from any other exotic Ferrari is that, this car was produced only after the WWII adding historical value to the vintage beauty.

This was purchased in a car auction by Jim Glickenhaus in 2004 for an already expensive price of $770,000. He had later spent over $500,000 on the beauty to bring it back into shape. Jim is a vintage car enthusiast who hails from California . According to Daily Mail the car can reach speeds up to 100 mph or 160 kmph. Back in 1947 a 160 kmph car was pretty much all that was required to win a race and the car had outrun all other contestants at the 1947 Turin Grand Prix with sheer speed. The 12 cylinder classic is hence truly one-of-a-kind.

Enzo Ferrari first sold this car in December, 1947. The original build had crashed and this one was numbered 002.

The owner of the first build, markerd 001C had claimed that he had the world's oldest Ferrari but that was also a 002 car with most parts assembled from the crashed 01C Ferrari. The lack of the original engine and the use of parts from Ford make it inferior to Jim's restored version which is mostly original. "My Ferrari still has the original chassis, engine, gearbox and most of the mechanical pieces," Glickenhaus said.

Glickenhaus strongly believed that his car is now valued at $8 million. He had taken the car to Marenello, the original home of Ferrari where mechanics who preserve and value the heritage of such beauties can be found. With the help of authentic photographs, and parts a completely genuine restoration could be made possible.

(AW- Anil)