RC:
 

Also, there could be insurance issues depending on the insurance he had: If he is unlucky, he gets the value of the new car only. If he is lucky, he gets the "Zeitwert" (basically meaning the value the car was worth at the time of the damage, which should be definitely more than Ferrari's normal price tag).

Yep - this is the key point. The Limited Edition cars need to be insured for an agreed value rather than market value. The right number in the UK is currently around £800K for agreed value.