It’s called the F12 TRS and, as the name suggests, it takes its cue from the late-1950s 250 Testa Rossa, one of Ferrari’s most revered endurance racing cars and a winner at Sebring, the Nürburgring, the Targa Florio, and most famously at Le Mans in 1958, 1960 and 1961.
By our reckoning, this is the 21st Special Project car since Ferrari started making these one-offs for its most valued – and deep-pocketed – clients, most of which have managed to stay under the radar. Though often the work of Pininfarina, the TRS was handled in-house, under the direction of Flavio Manzoni in Ferrari’s centro stile.
The chopped roof, windscreen and side glass are the obvious visual highlights, along with the fairings on the rear deck that offer the clearest connection to those ridiculously sexy Fifties endurance racers. The SP division is bound by strict rules on homologation, so the car’s hard points and the height of the lights, for example, are fixed. Nor does Ferrari sanction any performance improvements, not that the F12 (pictured below) is lacking in that department.
But other areas are up for grabs, most significantly in the car’s aero treatment, where Ferrari is happy to let its clients experiment. So the F12’s clever front wing ‘aero bridge’ has been re-profiled, and there’s a new rear spoiler, diffuser and Venturi. The V12’s red cylinder heads are visible through a window in the bonnet, a piece of theatre previously reserved for mid-engined Ferraris.
The TRS’s cabin has been stripped of pretty much everything, and the matte black carbon trim, Alcantara and leather all have a highly technical feel. The central tunnel and door panels are painted the same red as the exterior, which has a special multi-layer finish that uses a lacquer to deliver an almost transparent effect.
We think it’s pretty cool, which hasn’t always been the case with these special project cars. What would your $5m one-off Ferrari look like?
A version of this story appeared on TopGear.com.
If you would like to comment on this story or anything else you have seen on BBC Autos, head over to our Facebook page or message us on Twitter.