After the "phantom" F40 estimated at $2.6 million, then the blue chip F40 at 2.8 million, another F40 is about to make the counters explode. Prepared by Michelotto, certified Ferrari Classiche and developing no less than 760 hp, this 1993 F40 LM could top $9.5 million at RM Sotheby's Monterey auction in August 2025.
An F40 like no other
This is no "ordinary" Ferrari F40. This model is the 14th in a very exclusive series of 19 F40 LMs prepared for competition by the legendary Giuliano Michelotto, with the official blessing of Ferrari. Designed to GTC specifications for FIA-GT homologation in Europe, it is the most powerful version ever created of Maranello's legendary anniversary supercar.
When the standard F40 develops 478 hp thanks to its twin-turbo V8, this LM version boasts 760 hp. A feat made possible by in-depth modifications: larger Behr intercoolers, reworked camshafts, revised fuel injection system, increased turbo pressure... Not to mention upgraded Brembo brakes, Michelin slicks, lowered ground clearance, and sharpened aerodynamics with front spoiler, ventilated hood, and adjustable rear spoiler.
Awards and a clear history
Delivered new at the end of 1992 to Swiss collector Walter Hagmann, owner of a 275 GTB/4 and an F50 among other cars, this F40 LM has had a busy life. Minor accident at Mugello in 1993, repaired by Michelotto himself, participation in various Ferrari events (Monza, Valencia, Brno...), and even a class victory at ModaMiami 2025.
Certified Ferrari Classiche since 2009, it retains its original engine, gearbox and bodywork. Only the rims have been replaced by wider OZ magnesium ones. The famous paper "Red Book" is missing, but a digital version of the certificate is available.
Just before the sale, a complete service was carried out by Rosso Corsa Inc. in Florida for over 67,000 $s, including new belts, filters, spark plugs, batteries and tires. So it's ready to take to the track again... or to add to a very high-end collection.
Towards an all-time record?
Priced at between $8.5 and $9.5 million, lot 260 could pass the symbolic $10 million mark at auction. This would make it the most expensive Ferrari F40 ever sold, well ahead of even low-mileage classic F40s.
With its rarity, pedigree, power and certification, it has all the ingredients to appeal to the most discerning Ferrari collectors. And to prove, once again, that the F40 remains an absolute icon... especially when it bears the letters LM.
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