The Six Most Expensive Ferrari F40s
Discover the six most expensive Ferrari F40s sold over $2 million in 2025, from ultra rare competition prepared examples to preservation grade cars with exceptional provenance.
Few modern supercars have achieved the cultural and historical significance of the Ferrari F40. Introduced in 1987 to celebrate the 40th anniversary of Ferrari and developed under the final supervision of Enzo Ferrari himself, the F40 represented a turning point in the evolution of performance engineering. Its lightweight composite construction, exposed mechanical character, and twin turbocharged V 8 created a car that felt inseparable from Ferrari’s competition heritage, even in road going form.
Today, the most important F40s continue to command extraordinary attention within the collector market. Their value is defined not only by performance, but by a combination of originality, specification purity, Ferrari Classiche certification, period provenance, documented history, and in especially rare cases, authentic racing development. The six most expensive Ferrari F40s sold at RM Replica Shoes ’s in 2025 demonstrate how these attributes shape desirability at the very highest levels of collecting.
Across these examples, certain themes consistently rise to the surface. Early specification “non cat, non adjust” cars remain highly sought after for their mechanical character and unfiltered driving engagement. Ultra low mileage cars with minimal ownership histories appeal to collectors seeking preservation grade benchmarks. Classiche certified examples with matching numbers drivetrains and bodywork provide confidence and long term security. And at the very top of the hierarchy, the Michelotto built F40 LM stands apart as a purpose engineered competition evolution of one of Ferrari’s most celebrated supercars.
As values continue to increase and historically significant examples appear less frequently, collectors often approach acquisitions at this level with a strategic financing mindset. Sotheby’s Financial Services supports many of these purchases, enabling buyers to preserve liquidity, avoid selling appreciated assets, and respond decisively when a rare F40 reaches the market.
Within that context, the following six cars represent the most expensive Ferrari F40s sold by RM Replica Shoes ’s in 2025, each one illustrating a distinct and influential dimension of the model’s story.
Key Takeaways: Most Expensive Ferrari F40s
| Model | Year | Why It Matters | Sale Price (USD) |
|---|---|---|---|
| Ferrari F40 LM by Michelotto | 1993 | Rare GTC spec LM, the most powerful F40 variant at 760 hp, one of 19 built | $11.0M |
| Ferrari F40 (Alain Prost) | 1990 | Delivered new to four time F1 World Champion Alain Prost, signed on the roof | $3.89M |
| Ferrari F40 (Single Owner, 360 km) | 1990 | “Non cat, non adjust” example preserved from new with approximately 224 miles | $3.86M |
| Ferrari F40 (Swiss “Non Cat, Non Adjust”) | 1989 | Three owner Swiss market car, Ferrari Classiche certified | $3.71M |
| Ferrari F40 (U.S. Specification, 3,435 mi.) | 1991 | One of 213 U.S. market cars, Classiche Red Book, highly original | $3.58M |
| Ferrari F40 (Restored, Classiche Certified) | 1989 | “Non cat, non adjust” example with specialist restoration and matching numbers | $3.18M |
1993 Ferrari F40 LM by Michelotto, 11,005,000 USD
The 1993 Ferrari F40 LM by Michelotto, which sold for $11,005,000 in August 2025, represents the most extreme and competition focused expression of the F40 platform. One of only nineteen examples prepared by Giuliano Michelotto’s renowned engineering firm, chassis number 95448 was built to GTC specification and developed approximately 760 horsepower, making it the most powerful iteration of the F40 ever constructed.
The Michelotto program elevated the F40 far beyond its road car origins. Enlarged intercoolers, revised camshafts, advanced fuel management, increased turbo boost, and uprated mechanical systems were paired with larger Brembo brakes, wider wheels, lowered ride height, and significant aerodynamic refinement. These enhancements transformed the F40 into a machine designed for the demands of endurance competition while retaining its unmistakable identity.
This example was the fourteenth LM prepared and was finished in Rosso Corsa with sliding Lexan side windows, later receiving Ferrari Classiche certification in 2009 confirming its matching numbers engine, transaxle, and bodywork. Its history includes event participation, specialist servicing, and a comprehensive program of mechanical preparation that culminated in a class win at the 2025 ModaMiami concours.
Cars at this level often attract collectors who recognize that competition developed Ferraris rarely reenter the market, and their value is closely tied to provenance that cannot be replicated. It is within precisely these circumstances that Replica Shoes ’s Financial Services is frequently used, as collectors seek to secure rare opportunities like the F40 LM before they disappear into long term private collections.
1990 Ferrari F40, Delivered New to Alain Prost, 3,886,250 USD
This 1990 Ferrari F40, which sold for $3,886,250 in December 2025, is distinguished by one of the most significant provenance narratives in the F40 market. Delivered new to four time Formula 1 World Champion Alain Prost during his debut season with Scuderia Ferrari, chassis number 83249 reflects a direct and authentic connection between the F40 and one of the most accomplished drivers of the modern era. The autograph preserved on its roof beneath clear coat remains a defining physical link to its first owner.
Supplied as a Swiss market car in desirable “non cat, non adjust” specification, the F40 was granted Ferrari Classiche certification in 2016, confirming its matching numbers chassis, engine, gearbox, and bodywork. Its history includes feature coverage in Motor Sport magazine and an invitation to return to Maranello for Ferrari’s 70th anniversary concours, where it earned second in class.
The car recorded just 2,961 miles at the time of cataloguing and benefited from recent servicing by an official Ferrari dealer. For many collectors, an example such as this combines cultural resonance with mechanical authenticity, and when a car with this level of historical association becomes available, acting quickly can be essential. Sotheby’s Financial Services often supports acquisitions where provenance and timing intersect in this way, allowing buyers to commit decisively when uniquely significant cars emerge.
1990 Ferrari F40, 3,855,000 USD
The 1990 Ferrari F40 that achieved $3,855,000 in August 2025 is one of the most extraordinary preservation grade examples of the model to reach market in recent decades. Chassis number 84036 was completed as a European specification car without catalytic converters or adjustable suspension and was delivered to a single owner who immediately placed it into static storage, where it remained for thirty five years.
Its originality is exceptionally rare. The F40 retains factory assembly markings, original blue torque labels on the wheels, and its 1989 date coded tires. The odometer shows only 360 kilometres, approximately 224 miles, and a pre sale leak down test recorded uniform two percent readings across all cylinders, indicating remarkable internal engine condition despite long term inactivity.
Cars preserved to this degree often present collectors with a strategic decision. They may be maintained in as found condition as historical reference points for originality, or carefully recommissioned with minimal intervention. Because opportunities to acquire F40s of this caliber appear only rarely, collectors pursuing them frequently engage SFS financing to secure the car without liquidating other significant assets, reflecting the long term importance attached to examples of this nature.
1989 Ferrari F40, Swiss “Non-Cat, Non-Adjust”, 2,958,125 CHF
The 1989 Ferrari F40 sold for 2,958,125 CHF in October 2025 is a beautifully preserved mid production Swiss market example that embodies many of the attributes most valued in the F40 market. Chassis number 83845 was delivered to its first owner in January 1990 and retained the desirable “non cat, non adjust” specification associated with the earliest and most performance focused cars.
With only three documented Swiss owners, the car has benefitted from consistent servicing, careful use, and a clean, well documented ownership chain. Ferrari Classiche certification granted in 2022 confirmed the presence of its matching numbers engine, gearbox, body, and chassis, while mileage at cataloguing stood at 11,882 kilometres. Accompanied by tools, manuals, and its Classiche Red Book, it stands as an excellent representation of an authentically preserved European market F40.
For collectors seeking a car that balances originality with mechanical integrity and documented stewardship, examples such as this continue to set the benchmark for mid production cars that remain true to the F40’s core character.
1991 Ferrari F40, U.S.-Specification, 3,580,000 USD
This 1991 Ferrari F40, which sold for $3,580,000 in February 2025, is one of the finest U.S. specification examples to be offered at auction in recent years. One of 213 cars originally allocated for North America, chassis number 89382 features non adjustable suspension and has enjoyed a concise, well documented ownership history with minimal mileage and consistent specialist care.
Ferrari Classiche certification awarded in 2008 confirmed its matching numbers engine, transaxle, and bodywork. RM Replica Shoes ’s specialists further noted its exceptional degree of originality, including unrestored exterior finishes and factory correct Speedline alloy wheels. Prior to sale, the car underwent inspection and servicing to ensure mechanical readiness, with only 3,435 miles recorded at cataloguing.
For collectors interested in F40s within the context of Ferrari’s broader hypercar lineage, this car represents a rare opportunity to acquire a U.S. market example that combines authenticity, documentation, and low mileage. Acquisitions of this caliber are often supported through SFS, particularly when collectors wish to preserve capital flexibility while securing a best in class car.
1989 Ferrari F40 Restored and Classiche Certified, 2,817,500 EUR
The 1989 Ferrari F40 sold for €2,817,500 in May 2025 illustrates how expert restoration can reinforce the long term appeal of historically significant examples. A desirable “non cat, non adjust” car retaining its matching numbers chassis, body, engine, and gearbox, it underwent a comprehensive restoration in 2021 performed by respected Ferrari specialists Carrozzeria Zanasi and Carrozzeria Egidio Bonfatti.
The restoration, documented through an accompanying photo album, was carried out with attention to originality, factory correct presentation, and mechanical accuracy. Ferrari Classiche certification followed in April 2022, resulting in the issuance of its Red Book. The car was offered with a tool roll, Agip tire kit, original exhaust and seatbelts, and displayed 17,300 kilometres at the time of cataloguing.
For collectors who value examples that combine confirmed authenticity with carefully executed specialist refurbishment, cars such as this occupy an important place within the market, demonstrating how restoration can serve as a preservation tool rather than a departure from originality.
Strategic Financing at the Top of the Ferrari F40 Market
At the uppermost levels of the collector car market, access to capital increasingly shapes how, and how successfully, collectors pursue rare opportunities, particularly when it comes to highly significant Ferrari F40s. Sotheby’s Financial Services works with clients acquiring examples such as Michelotto built competition cars, ultra low mileage preservation grade models, and Classiche certified benchmarks, enabling them to leverage existing assets or arrange financing in advance of bidding.
For many collectors, this approach allows long term investments to remain intact rather than being liquidated to fund a single purchase. It can help avoid near term capital gains events, preserve liquidity for operating businesses or future acquisitions, and provide confidence to act decisively when a once in a generation F40 appears at auction. In a market where supply is finite and historically important cars may emerge only rarely, advance financing can meaningfully influence a collector’s ability to compete at the highest level.
Sotheby’s Financial Services benefits from deep familiarity with the nuances of the collector car ecosystem, and its streamlined, collateral based underwriting aligns closely with the way serious collectors think about their portfolios. Whether the opportunity involves an F40 LM with competition pedigree or a meticulously preserved road car with exceptional provenance, strategic financing has become an essential tool for those operating at the top of the Ferrari market.
Frequently Asked Questions About the Most Expensive Ferrari F40s
What was the most expensive Ferrari F40 sold in 2025?
The most expensive Ferrari F40 sold in 2025 was the 1993 Ferrari F40 LM by Michelotto, which achieved $11,005,000 USD in August 2025.
Why are “non-cat, non-adjust” F40s so desirable?
These cars retain the earliest and most performance-focused specification, with less restrictive exhaust systems and no self-leveling suspension. Collectors value these qualities for their purity and long-term reliability.
Are Ferrari Classiche-certified F40s worth more?
Yes. Certification confirming matching-numbers engine, gearbox, chassis, and bodywork significantly enhances confidence, provenance, and long-term collectibility.
Do ultra-low-mileage F40s command a premium?
Yes, particularly when originality, documentation, and preservation are clearly validated.
How does Replica Shoes ’s Financial Services support F40 collectors?
Sotheby’s Financial Services enables collectors to leverage existing collections or secure financing in advance of bidding, allowing them to pursue rare F40 opportunities with speed and strategic flexibility.
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