Christopher Cox, a US businessman was driving his £20 million classic Ferrari 250 GTO with his wife in central France when the car was in a collision with another vehicle.
This is believed to be the most expensive car crash in the world-not something Mr Cox would like to be known for in the Guinness Book of Records.
His wife Ann is believed to have received a broken leg as a result of the accident which is most unfortunate.
The Cox’s had been participating in the Ferrari 250 GTO’s 50th anniversary tour.
Only thirty nine of the Ferrari 250 GTO were ever built which does rather make this outstanding sports car a collector’s item. The scarcity obviously adds many millions to its value which is believed to be in excess of £20 million.
This most unfortunate accident happened near Blois outside Saint-Etienne-des Guirets, whilst the convoy of classic cars, reportedly having a total value of around 500 million pounds, were on route to Le Mans.
Unfortunately two people in the other car involved in the accident were taken to hospital.
Sir Anthony Bamford who is the boss of JCB and Nick Mason the Pink Floyd drummer were also two of the 21 groups involved in the event.
Between 1962 and 1964 the thirty nine Ferrari 250 GTOs that can reach 174mph were built at a time when the car sold for £6,000.
It was only last month that a Ferrari 250 GTO that was built for Stirling Moss sold for £22.7 million.
It is also believed that the DJ Chris Evans has sold his Ferrari 250 GTO for about £18 million not too long ago.
Following a crash in 1976 the classic car was fully restored with Mr Cox buying it in 2005.
The Ferrari 250 GTO has a V12 3-litre engine producing 300bhp and is capable of rocketing from 0 to 60mph in a mere 6.1 seconds.