I wouldn't say it's stupid because it's a classic 50 year old Ferrari, and a rare one at that. I and a friend stumbled upon a Ferrari specific workshop where I live here and at the moment, there were two 250's in the shop for minor tune ups. The estimated value of those shining examples must have been close to the $1m range.
That 250 Lusso may not be $500,000.... but it surely isn't a dhancha. Expect a 6 figure ($) range easily.