A fleet of luxury sportscars has been involved in one of the most expensive accidents in history after an astonishing multi-car pile-up in Japan.

The wreck included several Ferrari 355s, Ferrari F430s, Ferrari F360, Ferrari F512, Lamborghini Diablo and three Mercedes models as well as a Nissan Skyline.

The Ferrari driver reportedly lost control round a wet curve of China Road in Yamaguchi Prefecture when he hit a median creating a catastrophic chain reaction.

Police said some of the drivers belonged to a group of luxury car enthusiasts from Kyushu island who had gathered to tour the area together.

There were no serious injuries to any of the drivers, aged between 37 and 60, though 10 were taken to hospital.

Even a used Ferrari in Japan can fetch $100,000 or more, meaning the total damage may be $1 million or more.

Check the video below to see images of the wreck from a Japanese TV report.

http://www.youtube.com/watch?v=Pe0d3adb4bI