Ferrari F40 LM / Competizione
The F40 LM is the racing apex of Ferrari's most loved supercar: 19 Michelotto-built competition cars whose IMSA and BPR campaigns — and sub-20 production — place them among the most valuable racing Ferraris of the modern era.
History
The F40's racing career began at customer insistence: French importer Charles Pozzi commissioned Michelotto to build IMSA-spec cars, and the F40 LM debuted at Laguna Seca 1989 — 720 hp of twin-turbo V8 in a 1,050 kg carbon-kevlar shape, finishing on the podium against prototypes-adjacent GTO-class machinery. Michelotto's run of LM and later Competizione specifications totalled 19 cars, each individually configured.
The type's second wind came with 1990s GT racing's revival: F40 LM/GTE evolutions contested the BPR Global GT Series against F1 GTRs — winning rounds outright in 1995 (Anderstorp among them) — and the JGTC, giving the roadgoing icon genuine international race honours across two eras.
The market long ago canonized them: 19 build slots, Classiche-traceable histories, and the F40's cultural gravity put LM/Competizione cars deep into eight figures, trading privately among the same collector stratum as 250-era competition Ferraris. Historic eligibility (Endurance Legends, Ferrari's own events) adds usability the values scarcely need.
Palmarès
IMSA GTO podiums 1989–1990 from the Pozzi/Michelotto debut campaign; BPR Global GT race wins 1995 (Ennea/Pilot-Aldix era) against the F1 GTR establishment; 4 Hours of Vallelunga-adjacent international GT victories; JGTC campaigns — the racing record that separates the 19 from every road F40.
What to check before you buy
Provenance is everything at this altitude: Michelotto build records identify each of the 19 (LM versus later Competizione spec, period race history, configuration changes), Ferrari Classiche certification is assumed, and transactions run through the handful of brokers who handle competition Ferraris. Distinguish genuine Michelotto cars from later LM-specification conversions of road F40s — legitimate machines, different universe of value. Mechanical state matters less than documentation completeness; restoration by the recognized F40 competition specialists preserves value, improvisation destroys it.
Did you know
- The first LM's 1989 Laguna Seca podium came with Jean Alesi's IMSA-era contemporaries watching a road-car-derived Ferrari embarrass purpose-built GTO machinery.
- Michelotto's 19 cars were built to individual customer briefs — no two LMs left Padova identical, a provenance researcher's blessing and curse.
- In 1995 BPR rounds, F40s beat McLaren F1 GTRs outright — the 1987 design out-racing the 1990s' wonder car, to Maranello's lasting satisfaction.
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View all →No exact Ferrari F40 LM / Competizione listed right now — here is closely related machinery on the market.
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