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Things you don't see everyday.

The machine exists that's not a hoax
Apparently, it at Bob’s Motorcycles in Jessup, Maryland https://maps.app.goo.gl/pC32QFmd35WYeXHr5?g_st=ic
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If the story is really true
I doubt the story is true, Google searches on any of the main characters in the tale only return you back to the same yarn. I suspect the story was created to sell an intresting piece of artwork.

I do feel sorry for the Bandini family though, they seem to have awfully bad luck 😉

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This is the Parilla formula one racing iron used by the countess Maria Bandini “Mama” when she won the 1953 Italian speed ironing championship at Rome. The countess vanquished all her opponents with her tremendous, on the edge, display of blistering speed and amazing control over a track of both linen and silk, becoming a racing legend in Italy. Just imagine the sheer adrenaline buzz of witnessing a pack of these screaming machines at speed, cheered on by delirious Italian fans.
While training for the World Speed ironing championship to be held in Paris, her beloved son, Luigi was tragically killed practicing for the 1954 Milano Taranto endurance race on his experimental MV Agusta Monomoto. The Countess’ husband, count Enzo Bandini “The Falcon” forbid her to ever race again, declaring that racing was just too dangerous! A short time later, due to some rather nasty explosions during iron racing events, the Italian government outlawed the sport and ordered its citizens to turn in all internal combustion powered irons.
The Golden Age of iron racing was over. No one knows how the Contessa was able to keep her Parilla iron, but it was discovered among her effects after her death at age 103 in 2004. A family member contacted the collector Todd Fell offering him this fascinating piece of Italian racing history.

This championship machine is in its original unrestored condition, the only known survivor of the Golden Age of Iron Racing.
 
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I doubt the story is true,

I had my doubts as well, simply because as far as my technical insight reaches I think it would be virtually impossible to ride a longer distance than a few yards with this thing without losing balance and crashing.

My search revealed that the Bandini's indeed were a legit wealthy Italian family with several racing and car design enthusiasts in that time period.

Could it be? I don't think so but also I don't know...
 
My search revealed that the Bandini's indeed were a legit wealthy Italian family with several racing and car design enthusiasts in that time period
That's the thing about myths, most of them are based on half truths.
 
Nice find John.

Mad, just mad. Like Marcel mentioned earlier these guys seemed to have a death wish. Or rather a life wish. I guess you never feel more alive than when you’ve just dodged the Grim Reaper. Problem is he’ll always catch up with you sooner or later; sooner if you’re an adrenaline junky.
 
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