There is a club associated with a motel directly across the lake from us that has often a number of Riva boats and other more racing type boats. He did have two most impressive speed record hydroplanes in his garage. One was powered by a Ferrari V12 engine and the other was a Maserati V8.
I believe the Ferrari was the one below that was sold at auction a while back.
The vintage Ferrari racing boat at auction for about 2 million dollars
The original unique and unrepeatable RC Arno XI, dating back to 1953, gone down in history for the impressive speed achieved in competition, will be auctioned on May 11 for an expected proceeds of $ 1.9 million
22 February 2012 | by Redazione Liguria Nautica
When we talk about Ferrari, we are used to thinking about asphalt and very fast cars; the auction that will take place on May 11 at RM Auction in Monaco instead makes us rediscover a Ferrari world that also dominates the sea: under the hammer will be the sale of the very fast "Arno", the racing boat that on October 15, 1953 set the speed record in the waters of Lake Iseo, for a long time remained unbeaten.
The boat in question, which left the Cantieri Timossi in Como, follows in the footsteps of a racing car designed by Achille Castoldi and piloted by him between 1952 and 1953, boasts a Ferrari 4,500 engine, twelve cylinders, very similar to that of the grand prix Type 375 car that Jose Froilan Gonzales took to the finish line in the Silverston Grand Prix in 1951.
The record set by this Ferrari jewel was 241.70 Km/h, unbeaten until the Italian federation of motorboats modified the speed limit in relation to the weight category.
This rarity in the world of racing will be awarded for an estimated $1.3 million to $1.9 million.