RM Sotheby’s, the renowned auction house, has announced that a 1978 Ferrari 512 BB Competizione race car will be featured in their upcoming Monterey Car Week sale from August 17-19. This particular car is one of only three factory race cars built for the 1978 24 Hours of Le Mans and is part of a remarkable barn find collection of 20 vintage Ferraris that have recently been discovered after decades of being stored away.
The 512 BB Competizione holds a special place in the collection due to its rarity and historical significance. Originally unveiled at the 1976 Paris auto show, the 512 BB served as Ferrari’s flagship supercar during the latter half of the 1970s. It was an evolution of the 365 GT4 BB, with the “BB” in its name standing for “Berlinetta Boxer” in reference to the car’s powerful 5.0-liter boxer-12 engine, which produced 360 horsepower in its road-going form.
With the launch of the 512 BB, Ferrari saw an opportunity to return to sports car racing after a brief hiatus. In early 1978, the factory produced three racing versions of the car, reducing its weight to 2,425 pounds and increasing its output to an impressive 460 horsepower, all while retaining the stock 5-speed manual transmission.
These race cars were built to IMSA GTX-class specifications, with two of them being entered into the 1978 Le Mans race by Charles Pozzi, a prominent Ferrari distributor in France. The car being auctioned off by RM Sotheby’s, however, was entered by Luigi Chinetti’s North American Racing Team (NART), another renowned Ferrari distributor in the United States. The NART car performed admirably during the race, momentarily reaching second place in its class, but unfortunately, the stock transmission proved to be a weak point and the car was forced to retire in the 19th hour of the race.
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After its Le Mans participation, Luigi Chinetti held onto the 512 BB Competizione until 1980 when he sold it to Glenn Kalil, a carpet dealer and Ferrari collector. Kalil then sold it to Walter Medlin in 1981, who promptly added it to his private collection, where it remained in storage for the subsequent years. Despite being covered in dust, the car has retained its original 1978 Le Mans livery and the race-tuned engine it had during its time on the track.
The 512 BB Competizione is just one of the many exceptional cars in what RM Sotheby’s is calling the “Lost & Found Collection.” This assortment of vehicles was initially stored in a Florida barn before being relocated to a warehouse in Indiana. Among the other notable cars in the collection are a 1965 Ferrari 275 GTB/6C that competed in the 1966 Targa Florio and one of only four 1956 Ferrari 250 GT Coupe Speciales, featuring Pininfarina Superamerica-style coachwork. While not all of the cars in the collection are in as remarkable condition as the Le Mans-veteran 512 BB, each vehicle carries with it a unique history and legacy.
Car enthusiasts and collectors alike are eagerly anticipating the auctioning of this rare 1978 Ferrari 512 BB Competizione race car. With its exceptional original condition, Le Mans history, and inclusion in the esteemed “Lost & Found Collection,” this car represents a truly special piece of automotive history. The Monterey Car Week sale hosted by RM Sotheby’s provides an opportunity for passionate individuals to own a piece of motoring heritage and experience the thrill of driving a true racing icon.
