Few modern Ferraris carry the historical weight of the F40. Conceived as a celebration of Ferrari’s 40th anniversary and famously the final road car personally approved by Enzo Ferrari, the F40 represented an uncompromising approach to performance. RM Sotheby’s will be offering an early-production 1988 example at its London auction on October 31, estimated at £1.8 million–£2.4 million ($2.45 million–$3.25 million).

Chassis 78623 was built to European specification, with Ferrari commencing production on September 14, 1988, before completing the car on December 13. Delivered new through Sa Mo Car in Rome, it wears the model’s definitive Rosso Corsa exterior over Stoffa Vigogna red fabric upholstery. The car subsequently spent significant time in Japan, where it was transformed visually and mechanically to evoke the more extreme F40 LM competition cars.

The modifications include replacement front and rear clamshells, OMP seats, racing harnesses, an LM-style digital instrument display, MoTeC engine management, additional cooling hardware, non-standard brakes, an air-jack system, and race-inspired aerodynamic components. The car retains its original lightweight Lexan sliding windows, Kevlar bulkhead, roof, and standard road-car suspension architecture, while its original Marelli control units remain installed.

Despite its competition-inspired conversion, chassis 78623 retains its matching-numbers 2.9-liter twin-turbocharged V-8 and five-speed manual transaxle. The original F40 specification produced approximately 478 horsepower and propelled the lightweight supercar beyond 200 mph, establishing it as the world’s fastest production road car when introduced. Ferrari ultimately produced approximately 1,315 examples between 1987 and 1992.

A July 2026 inspection by GTO Engineering and an RM Sotheby’s specialist documents the car’s present configuration and condition. The digital odometer indicates 30,398 kilometers, although the original odometer is no longer present and supporting documentation for that reading is unavailable. The Ferrari also comes with a spare wheel and tire set.

Perhaps most importantly for collectors, chassis 78623 offers considerable flexibility. Its existing LM-inspired configuration can be retained, while its matching-numbers drivetrain and surviving original components make it a compelling candidate for restoration to factory road specification.

Source: RM Sotheby’s