The 73-year-old rocker, who is an experienced racing car driver, lost control while at the wheel of a MCLaren F1 GTR supercar while on a demonstration lap at the famous Goodwood Circuit on Sunday (19Mar17).
Footage of the lap live-streamed on YouTube showed Mason's car sliding across a grass verge before smashing into protective banking.
The clip showed The Great Gig in the Sky musician emerging unscathed from the crash, but his $3.7 million (£3 million) vehicle was less lucky as its front end was left severely damaged.
Stewards were forced to wave red flags halting the event while Nick's stricken car was towed away.
Nick's smash occurred during Goodwood's 75th Members' Meeting, a motor sport event which sees enthusiasts engage in a weekend of racing and demonstration laps.
The rock veteran has long been a motor sport devotee, having previously competed in the prestigious Le Mans 24 hour race.
His daughter Holly also shares his passion for cars, as she is married to British racing driver Marino Franchitti and has also competed in amateur races.
Nick also owns one of the world's most extensive collections of classic cars, including a rare Ferrari 250GTO valued at around $31 million (£25 million).