I know for a fact that there are Ferraris being sold as 'low-mileage never been in accident' that were in fact complete write-offs with bent chassis, total wrecks. It happens, in any market on the planet. And no matter what Pete says, beyond a certain amount of damage a car is never going to be good again.
I disagree Onno. My Dad bought my Jeep brand new in 1982. He used it as a daily driver for 13 years and the body rusted out from being on the salt covered roads of Maine. Plus the engine caught on fire and it sat in the driveway for 2 years. I was like, "Dad, you going to give me that Jeep?" and he did and I replaced the body and rebuilt the thing and used it for off-roading. Everytime something broke I replaced it with the best parts money could buy. I've broken axles, snapped U-joints, I've rolled it over, I've put it on it's side, I've hit trees going 20 mph hard enough to bend the frame. I tell you what, the Jeep gets better each time I fix it and it looks better then it did when new, it is pretty much bullet-proof, drives better than stock even with the lift and it is still worth what my Dad paid for it new.
So if you wanted to buy a Jeep, mines the one you'd want. It's been totalled twice and been on fire once. But all my friends will tell you that right now it is one of the best Jeeps out there. It has even been in a magazine. If you are interested I had a thread here called "rebuilding the jeep".
Hope my Ferrari doesn't go through the same routines but I just wanted to illustrate that damage to a car is not irrepairable and although it is not as desirable as a car that has never been damaged, well, is it OK? Is it the car you want? Can you find a better one for the same money? Is it the car you want for a price you think is reasonable?