A very rare convertible version of the Ferrari 365 GTB/4 Daytona has crashed in Germany, with the driver of the car claiming the brakes failed. Sadly, the damage looks to be rather severe, with the classic Ferrari, of which only 122 examples were ever made with the convertible body, hitting a tree after running off a road near the town of Lingen.

Despite the severity of the crash, as well as a lack of airbags and seatbelts, the 39-year-old driver escaped uninjured though his passenger needed to be taken to hospital. His car was a 1971 Ferrari 365 GTB/4 Daytona Spider, finished in red and with a black interior.

Though there’s extensive damage to the car, it appears that it may be repairable, which we’re sure its owner will be praying for considering the car’s alleged value of 500,000 euros (approximately $616,000).

Unofficially nicknamed the Daytona after Ferrari’s amazing triple win at the 1967 Daytona 24 Hours endurance race with the 330 P race cars, the 365 GTB/4 remains a classic and is well sought after. It also didn’t hurt that the convertible version played a lead role in the television series Miami Vice.

The legendary cars were the last of Ferrari’s front-engined tourers until the 1990s when the automaker introduced the much more modern 550. The original 365 GTB/4 featured a 352-horsepower V-12 driving the rear wheels, and could hit 60 mph in just 5.4 seconds and go on to almost 180mph--not bad for a car that’s more than four decades old.

Head over to Bild for more details including a video. Below is a beautiful 1972 Ferrari 365 GTB/4 Daytona Spider that was showcased at the 2011 Pebble Beach Concours d'Elegance.

1972 Ferrari 365 GTB/4 Scaglietti Daytona Spyder

1972 Ferrari 365 GTB/4 Scaglietti Daytona Spyder