World's Rarest Ferrari 512 BB Is Still All-Original After 42 Years

The first BB model, the 365 GT4, remained in production until 1976, when Ferrari replaced it with the BB 512. The redesign also saw the displacement of the flat-12 powerplant increase from 4.4 to 4.9 liters. Output dropped from 339 to 335 horsepower, but torque increased to 333 pound-feet (451 Nm).

The third iteration of the series, the BB 512i, arrived in 1981. While engine displacement remained unchanged, Ferrari added a Bosch K-Jetronic fuel injection system for cleaner emissions and improved driveability. Power figures remained unchanged, pushing the mid-engined supercar to a top speed of 160 mph (257 kph). Ferrari produced the BB 512i until 1984, when it replaced it with the Testarossa.

Like many Ferraris from the era, the Berlinetta Boxer also had a racing career. Luigi Chinetti's North American Racing Team (NART) raced a pair of 365 GT4 BBs as early as 1974, four years before Ferrari began producing a purpose-built racing version of the BB 512. Dubbed the 512 BB LM, it was never raced by Scuderia Ferrari but was campaigned by independent teams with factory support.

The 512 BB LM debuted at the 24 Hours of Le Mans in 1978, but all four cars failed to finish the race due to mechanical issues. The unsuccessful campaign prompted Ferrari to release a second development of the BB LM with fuel injection instead of carburetors and all-new bodywork with fixed headlamps.

The race car was once again redesigned in 1980, getting a more aggressive shell, a bigger wing, and ground effects add-ons. Ferrar also lightened the BB LM by 100 kg (220 pounds). While still plagued by reliability issues and inconsistent factory support, the car became gradually more competitive at Le Mans.

Following a tenths overall finish in 1980, the Berlinetta Boxer won the GTX class (fifth overall) in 1981 and then finished sixth behind a pack of Porsche 956 and 935 models in 1982. In all, Ferrari built 25 race-spec BBs in about four years. And while it wasn't the most successful Prancing Horse out there, it's definitely one of the hottest-looking Le Mans-spec rigs from the era. The example you see here is the rarest and most significant BB LM ever made.

How so? Well, even though it was put together in 1981 when Ferrari was still making the updated Series 2 version, this BB LM sports one-off bodywork. That's because it features a sloping front fascia you won't see on any of the other 24 race cars. The unique nose was applied by Scuderia Bellancauto, which took delivery of the vehicle as a rolling chassis.

Bodied under strict Ferrari supervision, the car made its racing debut in April 1981 at the Monza 1,000 Km and finished first in class. The BB LM retired at Le Mans that year but scored two more class wins through September 1982. Bellancauto returned to Le Mans in 1984, but the car was side-lined after only six hours due to gearbox issues.

Come 2023 and chassis number 35529 is still wearing the no. 27 livery it had in 1984. And that's not because it went through a rotisserie restoration. Nope, this Ferrari is as original as they get, having been preserved and pampered since it retired from racing in late 1984. It's recognized by Ferrari Classiche as the most original BB LM out there and as a one-off due to its aero-optimized nose.

Auctioned off for almost €2 million ($2.15 million) in 2021, the world's rarest 512 BB LM was recently spotted flexing its 550-horsepower flat-12 engine at Villa d'Este 2023. Check it out in the video below, and don't forget to crank up the volume for 12-cylinder awesomeness.