A Ferrari driver had a lucky escape from a crash yesterday, but still has 850,000 reasons to mourn after his costly car was left wrecked.

Two cars collided on the corner of Connecticut Avenue and Illinois Road in Five Dock, in Sydney’s inner west, yesterday.

One of the cars involved was a red 023 Ferrari F171 convertible, driven off the lot just seven months ago, 2GB reported.

A red Ferrari convertible was left wrecked after a collision in Five Dock, Sydney. (2GB)

The model retails from between $800,000 to $850,000.

Photos from the scene showed the car seemingly wrecked beyond repair, with the front end crumpled and the bumper ready to drop off.

Fire and Rescue NSW said nobody was seriously hurt, but a man in his 50s was taken to hospital with a neck injury.

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