Courtesy RM Sotheby’s
At RM Sotheby’s Monterey auction held on August 15–16, 2025, a 1993 Ferrari F40 LM by Michelotto achieved a remarkable price of $11,005,000 USD. This example, chassis number 95448, is the 14th of only 19 cars ever built, and was completed to the highly desirable “GTC” specification, making it one of the most powerful F40s ever produced.
A 760-Horsepower Evolution of a Legend
Based on the iconic F40 introduced in 1987, the F40 LM was developed by Giuliano Michelotto under Ferrari’s approval for competition use, with Le Mans in mind.
The GTC version represented the ultimate iteration, with an astonishing 760 horsepower, nearly 300 more than the original road car. Alongside its immense power, it received aerodynamic upgrades, wider wheels, Brembo brakes, and competition-focused refinements—cementing its reputation as the most extreme F40 of them all.
Provenance of Chassis 95448
Chassis number 95448 was completed in December 1992 and delivered to Swiss collector Walter Hagmann, a passionate Ferrari enthusiast. Over the years, it passed through notable ownerships in Switzerland, Germany, Austria, and the United States, with regular appearances at Ferrari events and historic challenges.
In 2009, it received Ferrari Classiche certification, confirming its matching-numbers engine, transaxle, and bodywork. More recently, it won its class at the 2025 ModaMiami concours in Florida, just months before its auction sale.
Collectability and Market Significance
With only 19 units built, the Ferrari F40 LM remains one of the rarest and most desirable evolutions of Maranello’s 40th-anniversary supercar. This sale not only underscores the model’s historical significance but also reflects its enduring appeal among top-tier collectors, securing its place as one of the ultimate Ferrari competition cars ever made.
