In 2023, Ferrari returned to Le Mans after a 50-year hiatus and a breathtaking display of their superior capabilities and engineering with two Ferrari 499P hypercars. Ferrari AF Corse won the 2023 24 Hours of Le Mans, beating long-time champion Toyota, and the second 499P hypercar came fifth. Ferrari's last race before 2023 was in 1973, after being humiliated by Ford, who entered Le Mans with one aim only, to beat Ferrari. Ford's rivalry with Ferrari came after Ford's bid to buy the Italian Automaker failed, leading to the humiliation Henry Ford II couldn't take. Their two automakers then set out to battle it out on the track. In their first race in 1965, Ferrari brought out the newly made Ferrari 275 LM, also known as the Ferrari 275 GTB Competizione Speciale, but it was not all sunshine and rainbows for both Ferrari and the car that year and the next. Built as a successor to the 250 GTO that retired in 1964, the 300-horsepower Ferrari 275 LM was meant to race in the Le Mans GT class and had significant enhancements over other models in the Ferrari 275 family. Weight reduction and power were the main focus points under the project's supervisor and Scuderia Ferrari F1 racing legend Mauro Forghieri, known for designing the first wing structure for F1 cars. Putting a value on a car such as the Ferrari 275 LM is almost impossible since prices might increase an hour after the car is sold due to its minimal production number. Very few customer units were made, as most Ferrari 275 LMs were intended for racing by Ferrari's Le Mans racing team and as homologation specials. However, there are a few recorded Ferrari 275 LM sales, for example, one for $26,400,000 sold on January 14th, 2015 at RM Sotheby's Monterey auction.
After retiring the Ferrari 250 GTO, arguably the most iconic and valuable Ferrari today, Ferrari aimed to increase the number of trophies on their shelves, which were almost running out of space due to the manufacturer's numerous race wins. The Ferrari 275 LM entered its prototype stage in late 1964, and by early 1965, Ferrari had made four units, all intended to race at the 1965 Le Mans. All four units had different structural designs due to Ferrari's aerodynamic research program to maximize the Ferrari 275 LM's streamlined efficiency. When the FIA inspected the Ferrari 275 LM, they refused to classify it as a GT car but rethought their decision when Enzo Ferrari, in a show of power, threatened to abandon competing in the Le Mans GT cars. The approval took a while, and due to this delay, only one Ferrari 275 LM raced in the 1965 endurance season, first failing to finish at the public Targa Florio race but finishing third at the 1965 24 Hours of Lemans. In addition to the first four Ferrari 275 LMs Ferrari built, Ferrari built 12 customer Ferrari 275 LMs at their Maranello plant, sold as the Ferrari 275 GTB Competizione Clienti. Competizione Clienti is Italian for Customer Competition, a class Ferrari introduced for customer versions of their race cars with the same power, mechanical, and body construction. Ferrari built customer units of the Ferrari 275 LM mainly because they could meet FIA homologation regulations for future endurance races. Additionally, they wanted to test the market for high-performance GT cars. However, not all buyers could get their hands on one of the most powerful Ferraris of its time. When buying the Ferrari 250 GTO, each buyer had to be vetted by Enzo before being allowed to buy the car. Ferrari did the same when selecting buyers for Ferrari 275 LM customer competition cars. Ferrari's exclusivity for their special production cars didn't begin with their modern cars.
Built to GT class specifications, the 3.3-liter V12 in the Ferrari 275 LM made a staggering 300 horsepower, which is too insane for a car built during its time. Other models in the Ferrari 275 family had considerably less power from the same engine at 220-240 horsepower. A higher compression ratio, 9.7.1 compared to 9.2.1 in less powerful engine versions, competition camshafts, dry sump lubrication, and six new carburetors were what made the engine in the Ferrari 275 LM make more power, a true testament to Ferrari's engineering. The engine sends power to the rear wheels via a 5-speed single plate clutch manual transmission with stiffened internals to endure hours of racing that Ferrari and the Ferrari 275 LM's buyers put the car through. Its brawny engine propels the Ferrari 275 LM to a top speed of 175 mph, doing 0-60mph in 6.7 seconds. These figures wouldn't be possible if the Ferrari 275 LM was made out of steel like other Ferrari 275s since the Ferrari 275 LM is entirely made of aluminum, allowing it to weigh 1,918 pounds (870 kg.). Ferrari later raised the weight to 2,425 pounds (1,100 kg.) to meet FIA requirements.
Classic cars always have aesthetically appealing interiors that most of us would trade for the modern comforts of today's cars, and the Ferrari 275 LM is no exception. The racing versions had stripped-out interiors with drilled panels to reduce weight, but the customer versions had exquisitely done interiors donned with the best that Ferrari had to offer at the time. Offered as a high-performance GT car, the customer version of the Ferrari 275 LM features a full leather interior. Some units came with half high-quality fabric and leather seats, giving the interior a contrastingly unique look. The leather extends to the dashboard top, sun visors, door panels, and center console and covers the footwells. A piece you won't lack in earlier Ferraris is an ashtray, which, in most cases, is chromed. In the Ferrari 275 LM, the ashtray sits at the center of the center console behind the transmission lever, which was gated in some units. The dashboard, which houses a myriad of gauges, a radio, AC vents at the middle, and a glove box on the passenger's side, is made of veneer wood on the center console storage compartment. Chrome wasn't used extensively in the Ferrari 275 LM's interior, as it was only on the steering wheel, door handles, and window switches. The window switches in the Ferrari 275 LM were electric, a feature Ferrari had introduced in the Ferrari 250 family.
The body design of the Ferrari 275 LM was primarily attributed to Pininfarina, but the illustrious designer did not build the body. Instead, Ferrari tasked Carrozzeria Scaglietti with making the full aluminum body, closely collaborating with engineers to make it as aerodynamic as possible, which is why the first four units had slightly contrasting body constructions. However, race cars and customer 275 LMs later adopted a uniform design. At the front, the Ferrari 275 LM bumper features three distinctive vents and is sharper than most Ferraris of its time to pierce through air, thus enhancing aerodynamics. The headlights on the bulging front quarters are covered in glass to maintain smooth airflow aerodynamics at the front end. Further down the front quarter panels, you'll find massive engine cooling vents enlarged to cool the 300-horsepower behemoth under the hood. Some Ferrari 275 LMs came with additional vents on the B-pillar to extract hot air from the cabin since AC systems were almost ineffective then. The rear end features circular taillights, which also serve as turn signals, and that's it. However, customer units were made with a steel bumper bar sitting above the quad exhaust tips, orchestrating the harmonious V12's symphony, a testament to the power and performance of the Ferrari 275 LM.
All aluminum body panels on the Ferrari 250 LM were hand-built, which was not usually the case for other Ferrari cars, which used machine-pressed aluminum and steel body panels. This was for precision purposes, ensuring perfection in every inch as it determined how aerodynamic the car would be. Luckily, the aluminum sheets used on the Ferrari 275 LM were half as thick as the steel sheets used to construct other Ferraris. In addition to utilizing aluminum body panels, Ferrari used a tube chassis with smaller diameter tubes, plexiglass windows, and magnesium castings for the engine and transaxle. Also, as mentioned, the interior panels on the Ferrari 275 LM were drilled to reduce weight.
The total number of Ferrari 275 LMs built is still being determined, but most sources claim that Ferrari made less than 20 units, including the 12 customer units between 1964 and 1966. Its rarity and racing pedigree contribute to its astronomical worth. Collectors actively seek the Ferrari 275 LM, further increasing its value following the principle that prices rise when the demand exceeds the supply. There have yet to be recent Ferrari 275 LM sales, but it's estimated that the car is worth more than the last one sold at the 2015 RM Sotheby's Monterey auction for $26,400,000. If another Ferrari 275 LM ever goes to auction, which we expect to happen very soon, we might see biddings surpassing the 100 million dollar mark. If you'd like to see how much a Ferrari 275 LM would sell for or you'd like to buy, you might find one listed on Exotic Car Trader, so ensure you watch out for our Ferrari listings. Also, we list all sorts of classic cars, so give us a call if any of Exotic Car Trader's classic car listings entice you.
The Ferrari 275 LM's racing heritage and the story behind its early conception stage continue to captivate enthusiasts today, and to think that Enzo Ferrari almost tanked its production is quite laughable. It's the car that lived first through the rivalry between Ford and Ferrari, succeeding the legendary 250 GTO, arguably the best Ferrari from the 1960s.
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The 275 LM not only lived through the rivalry but also thrived, encapsulating the spirit of 1960s racing. Its blend of technological advancement and design elegance has made it not just a testament to Ferrari's engineering prowess, but also a cherished icon among car enthusiasts worldwide.
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