This Ferrari collector repainted his Porsche Carrera GT red, then sold it, bought it back because he missed it, and is selling it again

You’re definitely on Italpassion, and yet this car is German, has one of the most famous V10 engines in history, and comes in a color closely associated with Ferrari. This 2005 Porsche Carrera GT belongs to Milton Verret, a prominent American collector who bought it, modified it, sold it… and then bought it back because he missed it. It will be up for auction again in Monterey on August 15.

At first glance, something seems out of place. A red Porsche Carrera GT isn’t unheard of, but this one features a shade that has never appeared in Stuttgart’s catalog: Rosso Fuoco, a Ferrari color. This minor deviation can be explained by the identity of its owner, Milton Verret, a Texas-based collector who has owned some of the world’s most prestigious race cars and supercars.

His collection once numbered more than a hundred vehicles. Among other things, he owned the Ferrari F300 in which Michael Schumacher won four Grand Prix races, several historic cars from the Indianapolis 500, and a 1953 Timossi-Ferrari hydroplane. And the Carrera GT holds a rather special place in his history.

He sold it… and then bought it back

Milton Verret knows this model inside and out: he claims to have owned no fewer than seven Carrera GTs. But this 2005 model is different. He bought it that year and decided to give it a radical makeover, to say the least. The bodywork was entrusted to Karosserie, a specialist shop based in Wayne, Pennsylvania. There was no question of simply changing the color of the visible panels: the Porsche was stripped down until its carbon-fiber monocoque was exposed. It took three months of work to achieve a concours-quality paint job in Rosso Fuoco, with a level of finish described as exceeding factory standards.

Milton Verret eventually parted with it at auction, where, according to him, it set a world record. The story could have ended there. But a year later, the collector had a change of heart. «I bought it back because I missed it,» he says. And yet, on August 15, at the Mecum auction in Monterey, he will once again try to part with it… for the second time.

This unusual color for a Porsche shouldn’t distract from the car beneath it. This particular model has just 3,471 miles on the odometer—about 5,586 km—and is one of the 644 Carrera GTs originally sold in the United States. Behind the seats lies the 5.7-liter naturally aspirated V10 engine, producing 603 ch and paired with a six-speed manual transmission and a dual-disc ceramic clutch. Total production of the Carrera GT was limited to 1,270 units.

Mecum has not yet announced any estimates. However, the market suggests a fierce bidding war is likely: low-mileage Carrera GTs now routinely sell for several million dollars, while a particularly rare example repainted in blue fetched $6.7 million in 2026.

There’s one question collectors will have to decide in Monterey: Is repainting a Carrera GT in a Ferrari color an act of sacrilege that could reduce its value, or does the unique history of this Rosso Fuoco Porsche, on the contrary, make it even more desirable?