Ferrari F40 supercar destroyed in Queensland crash

While Queensland's COVID-19 lockdown laws might be more lax than the rest of the country, it looks like they may have come to bite someone in the hip pocket.

Reports are emerging that a genuine Ferrari F40 has been binned near the town of Nerang, 70km south of Brisbane.

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While many people are deriding the car as a replica, our sources suggest that the rare right-hand-drive car is owned by a Gold Coast car collector.

The clue is in the wheels. "You never see those rims on a replica," says our snout.

He also reckons that, while the damage to this rare F40 looks significant, it's not fatal.

"It can be fixed," he reckons.

Even so, it's a mistake that could cost a LOT of money.

However, an F40 in far worse shape is in the midst of a rebuild.

Despite the fire, it's currently being put back together in Maranello.

Details of the F40 crash in Queensland are sketchy, but it looks as if the driver has overdone it with the right foot, looped the mid-engined monster at a right-hand turn and exited stage backwards, up over the kerb and over the top of a traffic light.

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By the look of the concrete base that's been ripped out of the ground, the F40 has gone in with some pace.

The cabin is intact, which suggests the occupants exited the vehicle, but there's extensive damage to the bodywork.

The presence of a dealer number plate is interesting, as well.

Very strict rules govern the use of trade plates, which are used by car dealers to take new or unregistered cars out for a test drive. It also suggests that the plates on the car itself are for show.

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An amazing shot of F40s lined up

Media reports suggest the driver was given a ticket for negligent driving.

In today's market, the F40 trades at auction for about AU$1.8m, according to the team at Unique Cars. In the local market, they are generally advertised for $2.3m-$2.5m.

Back in 2012, Maranello Motorsport advertised a delivery-condition example for $455,000, which illustrates how far values have come.

Contributing - Alex Affatt, Unique Cars