A road car that’s been converted into a competition racer is no big deal. Such modifications have been done before and will continue to be done well into the future. A road-going Ferrari F40 that legitimately earned its racing stripes, though? Well, that’s a different story, and a rare example with a seven-figure valuation crossed the auction block today.
A 1989 Ferrari F40 “Competizione” with a well-documented ownership history, legitimate racing chops, and a bunch of spare parts that could be another race car was offered for sale through Broad Arrow Auctions. Part of Lot 212 of the Concorso d’Eleganza Villa d’Este Auction, the converted F40 was estimated to fetch between $2.6 million and $3.1 million by the time bidding closed.
Chassis number 80369 was a standard left-hand drive, European-spec F40 when it was purchased new as a gift from a father to his son. The vehicle, still in street clothes, was sold five years later to video game pioneer Ian Hetherington. The late Hetherington ran British gaming institutions Psygnosis and Evolution Studios, responsible for beloved PlayStation racing games including Wipeout, Destruction Derby, and MotorStorm. So, it should be no surprise that he had an affinity for real-life racing, participating in many club events.
Hetherington considered selling the Ferrari just three years after buying it, but had a change of heart. Or perhaps it was an epiphany. Either way, he commissioned Martin Shaw of Specialised Cars of Manchester to rebuild the F40 into a ’90s-spec factory Le Mans racer.
For performance mods, the stock F40’s 2.9-liter V8 was given new turbochargers, a free-flow exhaust system, customized intercoolers, an updated suspension, upgraded brakes, and a competition fuel system. The output is 648 horsepower and 563 lb-ft of torque. The finishing touches to make the F40 look the part of a factory-built Ferrari race car included fixed headlights, larger brake cooling ducts, an expansive front splitter, and an unmistakable rear wing.
The conversion project took nearly two years to complete, and in February 1999, Hetherington sold the now track-ready F40 to Shaw. Wasting little time, Shaw entered the F40 into the 2000 British GT Championship. The newly minted #16 race car was driven by Stuart Bowler, Ian Flux, and, oh, hello again, Mr. Hetherington.
The F40 competed against newer vehicles in the GT class, and although it wasn’t a podium finisher from the get-go, it was still impressive in the speed category. The homemade Competizione returned fast times as more laps were driven. Unfortunately, DNFs and other reliability issues prevented Shaw’s SCS Motorsport team from taking advantage of the F40’s full performance potential.
According to the auction listing, the F40 wasn’t involved in any major accidents during its racing career. Also notable is that only 27 known F40 road cars have been transformed into competition racers by private owners. Included in the sale is an extensive parts package that includes a front nose, rear deck, a spare engine block, three sets of wheels, and more bits to build a copycat. Just need to source another F40 chassis, if you’re so inclined.
