Bold claim: even a superstar like the Ferrari F40 can slip past a crowd and still be unsold at auction. But here’s the twist that keeps enthusiasts talking: the rarest, most coveted examples aren’t guaranteed to find a buyer, even when bidding soars into the millions.
In a recent Australian exotic car auction, a highly sought-after 1990 Ferrari F40—one of the few converted to right-hand drive among the 1,311 F40s produced—failed to attract a buyer. Retro Rides labeled it the “standout lot” of February’s sale, underscoring its status as a centerpiece for collectors.
This particular F40 sits in the pristine “non-cat, non-adjust” specification, a configuration prized for its lightness and purity. It forgoes both a catalytic converter and an adjustable suspension, making it arguably the lightest and most unadulterated version of the model.
Historically significant, the F40 was the last Ferrari model personally signed off by founder Enzo Ferrari before his passing in 1988 at age 90. The car was built to celebrate Ferrari SpA’s 40th anniversary and is equipped with a twin-turbo 2.9-liter V8, a five-speed manual gearbox, and a construction that emphasizes weight savings through Kevlar, carbon fiber, and aluminum.
Described as a matching-numbers vehicle, the auction car has 37,063 kilometers on the clock, with roughly 4,000 of those miles accumulated in Australia after an initial delivery in Switzerland.
The right-hand drive conversion was carried out in Australia by its new owner, whom Retro Rides praises as a highly skilled engineer. Importantly, the conversion reportedly involved no structural changes, meaning it could be reverted back to its original left-hand drive configuration if desired.
The Rosso Corsa F40 is believed to rank among only six F40s in Australia.
Additional updates from the owner include the installation of power windows and central locking, plus a suede-wrapped steering wheel and standard seatbelts. The original steering wheel and harnesses were slated to be provided as part of the sale.
A cosmetic setback occurred in 2020 when a single-vehicle accident caused damage, but repairs preserved all original components from the car.
Auction activity followed a dramatic trajectory: bidding opened at $10,000, jumped to $250,000 by the second bid, and reached a $1 million milestone after the 15th bid, with a total of 53 bids. The top bid landed at $3,410,000, yet the car ultimately did not sell.
Why it didn’t sell remains unclear. Typically, a reserve unmet explains a non-sale, but Retro Rides has not disclosed whether a reserve was in place or whether it was simply surpassed but not met.
If you’re curious about the people behind these machines, Kez Casey—a writer who moved from spare-parts counters to automotive journalism after growing up around workshops—provides insights into the field. He has contributed to The Motor Report, Drive, and CarAdvice.
What’s your take: does the price reflect the F40’s purity and limited production, or should the market have found a buyer at this level? Would you consider a non-cat, non-adjustment F40 a better collector’s bet than more common variants? Share your thoughts below.
