With regards to the F40 on the show - Here ya go:
http://www.ferrarichat.com/forum/288gto-f40-f50-enzo-laferrari/403113-f40-fast-loud.html
From this link from the above link (with pics), its stated the frame was damaged AND the F40 was a "total loss"...
http://jalopnik.com/5833174/mechanic-wrecks-out+of+town-owners-500000-ferrari-f40
By normal Insurance Industry procedures, a total loss claim on a high end car like a rare F40 could = salvage title branding - unless either A) the owner did not have insurance or B) the owner (or shop) bit it and did not make a claim for the loss.
If the title is "clear" - the car still has massive "Internet history"... LOL
If any of you had the money to buy an F40 (or equivalent caliber of vehicle), would you spend over $500k on one that was severely wrecked and restored, or one that was never wrecked?
It's a yes or no question.
If the purchase price as stated in the show for the damaged F40 is/was truly $400k (and was NOT a made for TV inflated shocker value), in order to profit from that car, they need to start the auction or selling price at a minimum of $400k - just to break even! That of course is still excluding any labor costs, repair costs, parts costs, prep and paint costs and/or auction fees (if applicable if sold through an auction).
For value reference purposes:
http://www.ferrarilife.com/forums/supercars-288-f40-f50/19588-ferrari-f40-values-past.html
And this sale (which was just in 2012):
http://www.motorauthority.com/news/1074599_ebay-watch-ferrari-f40-with-buy-it-now-price-of-595000
And this one (which was Iaccoca's, remains on an MSO and has super low miles is the only reason it sold for a higher value than others):
http://jalopnik.com/5878055/283-mile-ferrari-f40-sells-for-710000/
The Fast-n-Loud F40, based on all of the Internet postings and available facts , was not owned by a "Star" or "VIP", it was owned by someone who was an avid Enthusiast, so to say the car would bring any higher value due to prior ownership rights would be false.
A Ferrari F40 that has been previously wrecked, with an online knowledge of the wreck (pics are everywhere) and its online following by the Ferrari Community.... Sorry, I don't see that F40 bringing top dollar, even if it is fixed correctly, by Ferrari standards.
Don't get me wrong, that F40 CAN be fixed, and there is *some* collectibility value to it, there is no doubt about that. However, the purchase price for that specific F40 would be more realistic at or around $200k. Maybe the TV purchase price is inflated for that "wow" factor and so the audience will stay in tune...