This extremely rare F40 Prototype/GT combines a number of unusual distinctions to result in highly desirable provenance. This car is the sixth of approximately just eight F40 prototypes that were used by the factory for testing, each with an individual purpose or application. There is a strong likelihood that 74047 is the prototype that was used primarily for press conferences and display at public events, as it was exhibited at the 1987 Frankfurt Motor Show on the stand of Auto Becker, an official German importer of Ferraris. A month later, the car was spotted at the Ferrari Club Italia meeting in Imola. Original Michelotto build sheets indicate that 74047 was upgraded prior to its public displays, receiving extensive GT modifications between May and July of 1987, where it was, in fact, referred to as an F40 LM. For the first years of its life, 74047 was owned and registered by Ferrari SpA on Modena number plates.
In 1991, 74047 returned to Michelotto for further race-oriented improvements, and the car is believed to be the first of seven F40 examples to receive such conversions. These modifications included lowering the ride height by five centimetres, tuning the engine for an increase to approximately 590 bhp, upgrading the Brembo brakes, installing a racing uniball suspension, a quick-fill fuel system, extra NACA cooling ducts, a fire system and wider Speedline wheels. Original Michelotto invoices reflecting the exact modifications are included with the car’s documentation, significantly enriching the strength of the car’s recorded history.