World's oldest Ferrari, worth $ 8 million, unveiled

London: The world's oldest Ferrari which won the 1947 Turin Grand Prix has been unveiled for the first time after restoration and is now believed to be worth a whopping $8 million.

The 166 Spyder Corsa built by manufacturer Enzo Ferrari just after the World War II is believed to be world's oldest Ferrari and was restored for $5,00,000 by its owner Jim Glickenhaus from California, the Daily Mail reported.

Capable of speeds of up to 160 kilometres-per-hour, which was enough to win the model the 1947 Turin Grand Prix, this 12-cylinder classic car is a one-of-a-kind.

"I bought the car at auction in 2004 for around $770,000," Glickenhaus, 62, said.

The motor — numbered 002 — was the first sold by Enzo Ferrari in December 1947, after his first build crashed.

In 2006, the owner of a Ferrari marked 001C came forward claiming his vehicle was the world's oldest.