Over a million dollars' worth of Ferraris up in flames in drag race mishap

Two foolish drivers have sacrificed a Ferrari 296 GTB and an F12 Berlinetta to a suburban fence.

In a video shared by Supercar Fails on Instagram, we can see the drivers fail to negotiate a turn – or apparently even try – and slam into a fence in an upscale neighbourhood in Osimo, Italy.

The drivers were reportedly Belgians aged 50 and 54, who were on vacation near Ancona. We can see one get out of his wrecked car, and one reportedly had to be taken to hospital for tests but was later released.

The 296 GTB retails for $568,300 before on-road costs in Australia, and packs a twin-turbocharged 3.0-litre V6 engine mated with an electric motor. Together, they produce 610kW of power and 740Nm of torque.

The F12 Berlinetta left production in 2017, and was priced at $690,745 before on-roads in its last year on sale here. It’s powered by a 6.3-litre naturally aspirated V12 engine producing 544kW and 690Nm.

MORE: Everything Ferrari 296 GTB