The Brabham BT21 was one of about 110 that were built in the late 1960s for use in Formula 3 and other racing series around the world.
The open-wheel single-seater was at a home in the suburb of Toorak, where it was being stored ahead of its entry in the Phillip Island Classic car racing event.
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This Brabham BT21 was stolen from a home near Melbourne, Austrailia, and abandoned on the street. (Victoria Police)
According to the Victoria Police, it was stolen during the overnight hours of March 9, but found by police abandoned on a nearby street early in the morning.
Apparently, whoever tried to get away with it didn't know the starting procedure, which isn't as simple as turning a key.
Around 110 BT21s were built in the late 1960s. (Darrell Ingham/Getty Images)
Like many competition cars, the BT21 has separate switches for the battery, fuel pump and ignition, and they must be engaged in a particular order to get it to work.
"I don’t think they knew how to turn on all the switches to be able to start it properly," owner Peter Williams told ABC Radio Melbourne on Friday morning, 7News reported.
Surviving BT21s are still used at vintage racing events. (Michael Cole/Corbis via Getty Images)
Police said the cutch for its five-speed manual transmission was also damaged, making the car inoperable and in need of repairs.
Police released a photo for the car and are asking for tips, but there are so far no suspects or witnesses to the crime.