European Market Find: 1993 Ferrari 348 GT-LM Competizione by Michelotto

What: 1993 Ferrari 348 GT-LM Competizione by Michelotto
Color: Rosso Corsa (rossocorsa; non-metallic uni; 322; Ferrari)
Interior Color: Red
Mileage: 37,430 km / 23,258 miles
Price: €450,000
Location: Västerås, Sweden
Listing: Mobile.de

The Ferrari 348’s competition history produced some particularly interesting derivatives, many developed with longtime Ferrari competition partner Michelotto. This 1993 348 TS takes a somewhat different approach, combining extensive Michelotto GT-LM-style modifications with a removable roof and continued road legality.

According to the seller and documentation attributed to the car’s original owner, it was commissioned by an Italian collector who wanted a 348 prepared with Michelotto’s competition hardware without eliminating its usefulness as a road car. The seller describes it as one of only two removable-roof 348 TS examples modified by Michelotto in this configuration. It was reportedly never raced and even retains its air conditioning.

The changes are extensive. Michelotto replaced the standard pop-up headlights with fixed Le Mans-style units and fitted lightweight Kevlar and carbon-fiber front and rear bumpers, doors and other body components. Lexan replaces conventional glass for the side and rear windows, while the removable roof panel is also lightweight. Magnesium Speedline Competizione wheels complete much of the exterior transformation.

The mechanical specification follows the same theme. The 3.4-liter V8 is listed at 360 PS (355 hp) and is paired with a single-disc competition clutch, lightweight flywheel, Tubi Style exhaust and Michelotto-specific EPROM engine management. Braking is handled by a Brembo F40 Evoluzione system with 355-mm ventilated steel discs, Brembo monoblock calipers and Pagid competition pads.

Inside are F40-style carbon-fiber racing seats, a Momo Corse quick-release steering wheel, adjustable competition pedal box, removable multi-point roll bar, Sabelt four-point harnesses and an OMP fire-suppression system. Kevlar and carbon-fiber panels replace much of the conventional interior trim. An ABS cut-off and FIA-style battery isolation system further reflect the car’s competition-inspired specification.

Its history is equally international. The car was reportedly delivered new in Italy and remained with its first owner until 2001. It subsequently went to the United States before returning to Europe. It is now offered by Daytona Automobil in Västerås, Sweden, showing 37,430 kilometers / 23,258 miles.

The distinction between this car and Ferrari’s actual competition 348s is worth noting. Rather than being a GT-LM race car subsequently converted for street use, the seller’s documentation describes it as a road car specifically prepared with Michelotto’s assistance to incorporate much of the GT-LM specification while retaining features necessary for road use. The seller also states that it is documented in the 348 GTC registry and comes with original documentation, including a written history from its first owner.

At €450,000, it is priced far above a conventional 348 TS, reflecting the Michelotto work and claimed one-of-two specification rather than the underlying production model. For comparison, other 348s currently advertised on Mobile.de generally sit below €110,000, making the provenance and documentation particularly important to the valuation of this example.

The car is currently offered by Daytona Automobil in Västerås, Sweden for €450,000.